Offering incentives is a marketing ploy to get buyers to come look. Builders have the best chance at attracting lookers since they can offer a wider variety of incentives than the average existing home sellers. Still existing home sellers are getting into the act offering to buy points (which would lower monthly payments) and pay fees (pool, lawn maintenance, etc). But for all of the incentives builders and sellers have come up with, paying for incentives instead of just reducing asking price seems the more prevalent practice. Sellers hope lookers see a dazzling incentive carrot and come nibbling. Whether lookers will actually make buy depends on the looker rather than the incentive. We have had about five years of sellers being in control of real estate transactions and now the pendulum has swung the other way. Price reductions bring out buyers rather than lookers.
Read Judy DeHaven's story on Sellers and Incentives
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