During the last real estate recession, new housing came to a screeching halt. In some markets, entire subdivisions were abandoned and left uncompleted with brand new homes sitting vacant with six feet tall grass in the yard.
New housing developers, builders and investors were hit the hardest with the downturn and were stuck with over leveraged land and new houses and no onee to buy them.
Fast forward, 7-8 years to today. Now we are in a recovering market. Most of that over-leveraged inventory has been sold via short sales and foreclosure. Today, values are continuing to steadily increase and some predictions are that some of the real estate markets are on track to reach pre-bubble values in the next year or two! Buyer confidence is strong and demand for new housing is back. The problem is, most of the new housing developers, builders, and investors are still licking their wounds from the last down turn.
Opportunity is Knocking…
At the Naperville meeting we will not only be discussing the pros and cons but we will also be going into greater detail on...
• The difference between New Construction & Spec Homes
• Builder's Incentives
• Hidden Costs
• Avoiding Bidding Wars
• Fast Turnaround
Opportunity is knocking in this niche market, you do not want to miss out on this meeting.
REMINDER: ChicagoREIA.org- Naperville
Sunday, August 25th- 2:00pm (Check-In / Networking starts at 1:30pm)
Topic: New Construction and Big Flips- The Good, The Bad, The Ugly
New Construction and Big Flips-
3015 Cedar Glade Drive, Naperville, IL 60564
ChicagoREIA.org- Naperville is a subgroup of the largest Real Estate Investors Association in Chicago. The best part is that we are #1 in terms of member productivity. Attendance at the ChicagoREIA subchapter meeting is FREE.
At ChicagoREIA.org our goal is to Listen, Learn, Share, Grow and Leave The World A Better Place Than We Found It.
See You at the Meeting!
The ChicagoREIA.org Team