Builders Have Been Willing To Offer Significant Discounts And Incentives To Move This Inventory
A report from the Dallas Morning News in Texas. "Homebuilders eased back on Dallas-Fort Worth construction in the early months of 2019. North Texas builders started 8,439 homes in the first quarter, down 4.4% from a year ago. It was the second quarter in a row that year-over-year home starts in the area declined, according to Residential Strategies Inc."
"'It's very evident the big builders have throttled back on their starts,' said Residential Strategies principal Ted Wilson. 'Selling unsold speculative inventory that was completed near year end has been a priority, and in many instances builders have been willing to offer significant discounts and incentives to move this inventory.'"
"The supply of unsold new homes on the market has grown in recent months. At the end of the first quarter, there were 6,931 finished vacant houses, 8.3% more than a year ago."
"'Builders will continue to focus on moving unsold inventory in second quarter 2019,' said Wilson. 'Homebuyers will continue to benefit from builders that are motivated to sell.'"
The Los Angeles Times on Florida. "Yoenis Céspedes is sitting out the first few months of baseball season following heel surgery, but the Mets slugger is keeping busy in the real estate game. Records show he recently sold his golf course home in Boca Raton, Fla., for $1.8 million."
"The sale chalks up as a slight loss for Céspedes, who paid $1.85 million for it five years ago. He first listed the half-acre estate for $2.2 million in October."
The San Francisco Chronicle in California. "With the Golden State Warriors moving from Oracle Arena to the Chase Center in Mission Bay next season, the Curry family will most likely have to move out of their East Bay residence to make Stephen's commute easier."
"In an interview with KRON, Ayesha confirmed the family is looking for a place in San Francisco. Like many families searching for housing in the city, the Currys have been taken aback by the astronomical home prices."
"'We're searching, we're on the hunt,' Ayesha said. 'I'll tell you what though, San Francisco, we've had some sticker shock here.'"
"According to a Realtor.com report, national median list prices crossed the $300,000 mark for the first time in March. That is still only roughly a quarter of San Francisco's median asking price of $1.35 million. The same report states that home prices in San Francisco were actually down 3 percent from February to March."
From My Record Journal on Connecticut. "A luxury colonial in the town’s southeast corner is now listed for under $1 million after a $151,000 price drop. 'It’s in a great neighborhood in Cheshire,' said listing agent Thomas Tussing. 'It has 15 rooms, five bedrooms, it’s been updated with a custom kitchen.'"
"The 5,178 square-foot home at 95 Jinny Hill Road is 12 years old, has a newly painted interior, an open floor plan, and hardwood floors. It was listed for $1.1 million. The price was reduced last month by $151,000 to $949,000.'"