Elk Grove’s resale home inventory is the lowest it’s been since 2004! With about 1 month of inventory, it’s VERY difficult for buyers to find a home they like and get their offer accepted. Every house I sell has multiple offers and lots of competition. Buyers who are able to pay all cash often score the house. But what about buyers with a conventional loan or even FHA? It’s terribly difficult for those buyers, needing a loan, to get into contract on an Elk Grove resale home because they are often beet out buy stronger cash buyers.
BRAND NEW construction is so much easier to buy for conventional and FHA buyers. Here’s why: Builders open up a block of homes to sell at a time. They could care less if you have cash or need a loan. As long as you qualify to buy the home, they will take your reservation and deposit. It’s pretty much first come, first serve with the new home builders. There is less buyer competition and loans are gladly accepted! Brand new homes in Elk Grove can be a lot less stress that resale homes in this market.
There are also lots of benefits to buying new construction homes in Elk Grove. You are able to pick out your lot and floor-plan. You get to choose your upgrades and all those other details that make a house a home. There are also some builders who offer extra incentives like appliances or paying for the cost of your loan.
If you are a frustrated Elk Grove home buyer, you should consider taking a look at the brand new homes available! Contact me for a list of new home builders in Elk Grove!
New Homes in Elk Grove are Easier to Buy Than Resale