Many homebuilders purchased quantities of land during the frenzied real estate market in 2002-2005; however, many are now struggling and, in fact, some are filing Chapter 11 bankruptcies and others are letting the lenders foreclose on the subdivisions. While it is a great time to buy a home, buyers need to be aware of what is going on as much as possible. I am now of the personal opinon, that a home that is ready to go - an inventory home or a spec home - might be the safest route. With all of the negative news and mortgage company woes, it’s a good time to make sure you have a Realtor.
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