As New Developments Mature...

...the oldies but goodies are looking better. Its not surprising that fresh new development inventory is not coming on line soon. Even as previously frozen projects thaw, their units are not likely to come on the market for at least another 12-18 months. This means that the oldies but goodies that have been on the market for a year or two are now beyond the 50% sold mark. Attracted by the newness and amenities that these developments offer, buyers have steadily eaten away at this inventory, with a significant pick-up over the last six months. Now that traditional lenders are therefore able to provide mortgages at attractive rates, those buyers who may have previously had a hard time qualifying for loans are swooping in to absorb what's left. If you're looking at new developments and thinking that you can continue getting double digit discounts full closing costs and freebies thrown in, think again. We're not in Kansas anymore.....