The sky is falling is absurd. Not buying because the bond is $50k, illogical. Not buying because you have a feeling you are paying more than your neighbors, illogical too.
I have friends that have been competing with 200 other people to buy in Eastport, lost out 5 times now but still trying. Every new house in Eastport will sell. If I was the developer and wanted to make money, have each new home sell to the highest bidder. You have up to 200 people wanting to buy each house/property, it would be a gold mine. Thank god the developers don’t do that.
If your house is in good shape, reasonably priced, in a good area, it will sell in weeks. I have a friend out of state that I assisted in checking out houses and he bought 1 that was on the market only a few days. I also know houses that over exaggerate their home/location and have come down hundreds of thousands or more and been on the market for many months.
As for buying a home with a $50k bond, I have friends that have moved from existing villages to Newell and they are very happy. They bought on a pond and said they saved over $150k for a pond house in the other areas. They were already paying $35k bond, so saving $150k on a lot but increasing their bond by $10k, that’s a h3ll of a deal.
Some of the areas that have a fire sale, I wouldn’t buy them at a $100k discount. But at $50k discount and you want the house, you can brag to the old neighbors you got the better deal. If you wait, somebody else might come in and buy them.
If I was looking, this would be a good time to buy mainly because I pay cash for our home, no financing. For the seller, this is great. Cash offers don’t need an appraisal, inspections, no contingencies, etc, and it can be a very short closing date. For the buyer, I can get a better deal.
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