As the Summer heats up, the market is holding steady. Yes, rates have gotten a little higher, but the demand for homes is still hot! While many buyers are in competing situations and needing to buy a house with larger down payments, forfeiting a home inspection and sometimes even the appraisal, there’s still a part of the market that’s not as competitive.
New construction subdivisions, where multiple homes or condos are being built, may seem out of reach to some buyers but for a lot of reasons they can alleviate some of the stress too and especially the need to have to offer over asking price.
For more than 17 years now I have been working with a small local builder with a great reputation for quality and flexibility. Over the past two years, Ronald Henault, owner of Henault Builders Inc., has been working with the town of Northbridge to permit Mike’s Way, an 18-lot riverfront subdivision off Rte. 122 in Northbridge right near the Grafton line. With town approval earlier this year, Henault went to work on clearing the land and getting the street in (the main entrance is now next to 2829 Providence Rd., which is Rte. 122). A few months later, and with many lumber price changes and supply chain obstacles to get through, Henault has two homes almost complete and it’s really starting to come together. The granite curbing was installed last week and, weather permitting, the yards are to be loamed and hydroseeded this week. With multiple homes to sell, we are not looking for offers over asking and people are welcome to have home inspections. Henault builds a beautiful house and there are already multiple upgrades included in the price so there is really no need to add anything. This comes as a welcome change to a lot of buyers who are sick of the multiple offer/sellers market situation they’ve been in for the last several years. Henault is building 16 more of these Ranch-style homes. They boast 9’ ceilings, 3 bedrooms, 2 full baths with tile flooring, a master suite with private bathroom, double vanity, tile walk-in shower and separate water closet. He didn’t hold back on the upgrades, custom molding, hardwood floors, gas fireplace, ceiling fans and plenty of recessed lights! Most of these options would be upgrades but they’re included in the homes at Mike’s Way!
So, yes, it’s true the feds have confirmed they are committed to doing what it takes to taper inflation and that doesn’t mean we’re heading for a crash in the real estate market! Buyers: things are slowly turning in your favor and you can expect a more traditional process of buying with major contingencies that every buyer should be entitled to becoming normal again! Email or call me for more information, [email protected] 508 826-7661.