Things are Heating Up: Market Update
Things are Heating Up: Market Update
As we reach the middle of the summer heat, things in the market have also been warming up.
On a recent Fox17 Trusted Advisor segment with Eastbrook Homes VP of Sales and Marketing, Joshua McGraw, we learned why this summer is a great time to build a new home instead of attempting to buy an existing home.
With so much competition in the housing market, things have been really tough.
Many homes are overpriced by $30,000 to $70,000 or more, with some buyers making cash offers and waiving inspections or appraisals. Other buyers are having a hard time making a purchase before their chosen home is snapped up leading to extreme buyer fatigue.
At Eastbrook Homes, we are trying to give people another option. Building a new Eastbrook Home comes with price guarantees that lock in their price when they release their project from our home creation studio, so buyers can avoid bidding wars or overpricing.
We also have lots of different products, such as condos, townhomes which are detached condos, single-family homes, and more. Our new home buyers also have plenty of location options so they can find the perfect spot to match their perfect home.
We are running into some of the same hurdles as the rest of the market, which has extended our build timeline a bit. At this time, it takes 10 to 12 months to complete a new home project, which means buyers looking to move in sometime in 2022 should really consider getting started now.
Buyers looking to move in sometime in 2022 should really consider getting started now.
A common sentiment that we’ve heard from many would-be homeowners is: “I want to wait until prices come down.” This unfortunately will not happen soon, as building materials such as copper, steel, and petroleum based products, continue to rise. Though lumber’s future market has fallen, it will take time for those price decreases to reach builders as the lumber yards are currently experiencing shortages. We are hopeful that things will stabilize eventually, but we don’t anticipate that happening this year. For those wanting to get ahead of these future increases, we offer our Eastbrook Guarantee that will lock in pricing once you have signed a non-contingent home purchase agreement and selected your features and options.
In addition to a price lock, you gain benefits such as the latest in design trends. Our team travels the country, studying the different styles and designs so we can bring those options home to our buyers. We can offer new buyers unique styles from around the country right here in West Michigan.
Eastbrook can also personalize your new home to match your own unique taste and style. We have so many options available to choose from, such as colors, countertops, cabinetry, and floor coverings. However, our buyers can see and touch the different selections when they spend time in our Home Creation Studio.
We are also able to customize the different design and construction aspects in your new home, making the result very truly yours.
Thankfully, open houses are also back, giving our clients the ability to walk through our models to see what really fits their lifestyle. People can also visit our different communities and learn about the amenities available in each.
From Lansing to the Lakeshore, Eastbrook has communities in a variety of different environments. Whether your idea of the perfect neighborhood is waterfront or woods, we have got the perfect community for you.
Your home is an investment, not only in your future but in your present too. If you are tired of chasing after overpriced homes only to be beaten to the down payment, reach out to our team of expert sales agents and see why it’s a great time to design and build a new home.