Jason Bramblett 12-2-23 Part 2

Jason Bramblett helps you understand and profit from Real Estate in the Piedmont Triad of North Carolina.

Episode Transcript

(00:03):
He Welcome back to the Jason BoatReal Estate Show. Hope everybody is enjoying
their Saturday as we will dive intowhat we do all the time, is
real estate here and answer your questions. And if you have those, you
can call the office five five threezero seven nine six or go to Jason
Bramlett real Estate dot com click onthat little email icon, shoot deck question

(00:23):
over and we will definitely get itanswered for you. All right, So
we talked about buying and selling thoseare obviously pre existing homes. What about
what about new homes twenty twenty four? Do you see any incentives for those
looking for new homes kicking off theyear? For sure? Yeah, new
construction actually, so interestingly, youknow, new construction typically is eight to

(00:44):
twelve percent of the market in anygiven year except for twenty twenty three and
what looks like to be twenty twentyfour. Because resell inventory is so low,
right, it's pushed new homes uplike thirty percent of the market now,
and so even with that, they'restill we got some great incentives out
there, so you can take advantageof our little handymand special if you have
a resell home, but maybe youwant to buy a new house. Maybe

(01:10):
you want to sell the older houseand get something brand new. Especially a
lot of our retirees are doing that. They don't want any maintenance. They
just like don't want to deal withit. And so with interest rates where
they are, we are seeing buildersoffer anywhere between well, seventeen thousand is
the highest, and I don't knowwhere that number came from. Maybe it's
just they like that number, butanywhere from ten to the highest I've seen

(01:33):
is seventeen thousand dollars in incentives.And the cool thing is is they're kind
of letting you decide what you wantto do with it. So if you're
financing the house, a lot offolks are taking that money to buy their
interest rate down, and so they're, you know, instead of having whatever,
we'll make it up and just say, you know, what's seven and
a half percent interest rate, Perhapsthey can buy it down to a six

(01:59):
and a half percent interest rate.For the owners that are paying cash,
what we see them doing is takingthe incentive, the ten thousand dollars or
whatever it may be, and justusing it toward nicer amenities, maybe getting
bigger kitchen cabinets, or maybe thestandard floor in the house is not wood,

(02:21):
and you want all wood floors.So you're taking the ten thousand dollars
and using that as an upgrade incentthem. Most of the builders aren't really
put in a lot of restriction onit like they have in the past.
In the past, I've seen itto where I always thought, well,
they must have got a really gooddeal on these countertops, because the incentives
only for these counters you know,all right, and not so much right

(02:44):
now. What I see them doingis really just kind of making it kind
of like a little buffet if youwill. You can kind of just decide
how you want to use that potof money towards either improving the house to
get more uprid raids and or tobuy that interest rate down, which is
you know, for a lot offolks, that's a huge incentive. And

(03:06):
I will say pretty smart on thebuilder's part. And we've actually had some
of our homeowners that aren't selling abrand new house to offer the same and
they're like, hey, well they'regoing to pick the new house because they
the builders offering to buy their ratedown. Well, we're going to do
that too, And so it's Ithink it's a great idea. It helps

(03:29):
you know your home stand out.And so if you would like to talk
to somebody about that, we cancertainly help. We We have a great
relationship with Academy Mortgage and they offerthat incentive. The other thing really cool
with the Academy is right now isif you go ahead and finance a home
with them, and let's just saythe rate is at seven and a half

(03:51):
percent, and just for whatever reasonnext year maybe it's the election, who
knows, they drop the six they'llREFINANCEI you at no cost. Nice.
So that's pretty good. So it'sgot to drop by one percent and you
have to do it within five years. Well, okay, five years is
that's a pretty good window. Lockcould happen. Yeah, a lot could

(04:11):
happen, for sure. So ifyou want to get information about that,
we'll connect you with Ryan and herteam as always, you can just go
to Jason Brown real estate dot com. Actually, and they have a link
right on our website. You can'tclick on Academy Mortgage and it'll connect you
right with her. With that,folks, everybody have a fantastic Saturday.
We'll be back here next week divinginto all things real estate. You're listening

(04:31):
to the Jason Brownt Real Estate Show