Wednesday, February 6, 2008

Home Builders Offering Price Guarantees

In a first of its kind for the housing market, home builders such as KB Homes and Ryland are offering buyers price guarantees on their new homes. KB and Ryland have been fairly quiet about these offers, so make sure to ask about them in your market no matter which builder you purchase from.

What this means is that prior to moving in, KB and Ryland will guarantee the price of your home does not drop. If it does, they will credit you the difference. Although this has made some home buyers feel more safe and secure, this doesn’t guarantee you’ll be protected if a home’s value plummets after you move in. However, this is one of the best buyer protection programs we’ve seen, and it illustrates how desperate home builders are becoming.

Currently, KB and Ryland are offering this program in select markets. KB has expanded this program from Florida into 35 markets across the nation, including Arizona. Chances are likely they offer this program where you’re looking to buy.

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