why are people paying premium price for KB homes and Castelleja homes?
No one likes to overpay for a home, particularly in a soft market. Yet, even in the current beleaguered housing market, there are pockets of strength. In these areas, buyers can find themselves in competition. Multiple offers can drive the price up, but not always. Most buyers today are looking for bargains. Foreclosure listings, particularly at the low end of the market, are selling to investors and first-time buyers. As home prices dropped, affordability improved, which made it possible for first-timers to make the move from renting to buying. However, some of the least expensive foreclosure properties on the market today aren’t in the best condition. Even though the price might be low, a foreclosure is not a good deal if you have to spend more than market value to purchase the property and cure the deferred maintenance. The listings that are the most salable are those that are in desirable locations, are priced right for the market and are in good condition. It’s hard to negotiate a
