fortune11 said:
1. Do you guys think market is slowing down enough that it is better to wait for resales / flips of homes that were sold early last year as opposed to signing a new contract directly w Toll ?
Market is definitely slowing down at this price range. HC now has standing inventory, which was inconceivable a year ago. Early last year they were taking cash buyers only because demand was so high.
100% agreed!! Huge slow down for homes over 1.3m+...Sure you see some activity here and there with bigger purchases but overall there is definitly a big change from last year and it will only get worse once the rates hike up. The cash buyers AKA=FCB are rare and the average person isn't getting nor can afford the big jumbo or even qualify for them. Hence there will be a big shift in the market. Unless they have equity and sellers will just have to sit and wait for a while!!!
As for waiting for resale versus buy new it depends. Do you like the location of the early phase homes? Are you willing to wait since there's no telling when one would come on the market? Is there a particular model or elevation you prefer? Will the price be much better than new? How particular are you with options? If you want to have it exactly how you want it then you better buy new.
How much do you like the community and the house. If you're okay with all the uncertainty then by all means, wait. Just know that you're leaving a lot to chance.