I remember the same thing happening back in 1995 when my husband and I bought during the last bust. We looked at several established homes and could not get anything near what we got from the new home builder…we bought new because we got a much better deal. There was plenty of inventory out there, but again, the sellers wanted incredible amounts of money for their little peice of crap with no yard. Our agent pretty much told us that we should buy the new home, he couldn’t offer anything like that in the resale market (one of those rare honest agents). We went with a new home because it was fresh and clean and about $60,000 cheaper than resale homes. I am seeing the same thing now, but the only thing keeping us from jumping in to a new home is the huge tax burden…mello-roos has become unbelievable high. Why spend an additional $1,000 a month or more for a new home? They would have to give me a huge price break for us to go with a new home today.
