http://www.mtgprofessor.com/ArticleLists/HomeSellers.html Pick "Selling a Home in a Buyer's Market. (Trying to link directly didn't work.)
He outlines How to compete with Home Builder's advantage with Finance Companies, and advice on "Temporary Buy downs".
But, here's Lola's thought on competing with Builders: They can't produce a home for $50 per square foot in MOST of the country. There is a limit to how LOW they can go in prices. Well, unless the country collapses.
(Mostly 'investors' and people who should have NEVER qualified for a home in the first place, homes in 'short sell' mode in my new neighborhood, "Tract Home Manors*", are going for about $95-110 per square foot. I do NOT what to admit what we paid back in 2005. That is about what Builders are starting at. But, a non-foreclosure home, dressed and clean and move-in ready are selling for more.)
Recently my parents we're house shopping. So we looked over at our old neighborhood, "Golf N Gripers*". My old neighborhood has homes listed at $126/sq ft. But, they'll probably sell for less. I can't believe the condition of some of them. The cupboards are 'crumby', the walls are dingy and the carpets smell funky. But, still many are lovely and are sitting months on the market.
*Yes, it's a fictitious name to protect the innocent.
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