Who has the most flexibility?
Banks are a business plain and simple. They want it sold and don’t even want to be in the real estate business. They like the mortgage game. They have many houses and some will sell high and some will sell low but they expect a loss.
Builders need cash flow. DR Horton had a weekend sales extravaganza recently telling the public to make an offer. Builders never do that around here. They can take some hits on price to get some of their construction loans under control that they picked up over a year ago.
Any Random Seller has just one house. They aren’t a business. Most buyers don’t have cash. They most often got into houses with little to no cash taking away some of their flexibility. Also on that is the issue of needing money to move on to the next thing.
Clark Howard was talking about how now is the time to buy from Builders as he sees them as the best deal. Time will tell.
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