- Interest rates are ridiculously low.
- Contractors and subcontractors are highly motivated. In many cases they are working with little or no profit just to keep their good people busy. And since they are not that busy, they have the time to dedicate to your project. An associate of mine has had a flood of very high quality contractors practically begging to bid on a bathroom remodeling project. I have had numerous local contractors request to bid on a project that is several hours outside of our traditional building area.
- Lot costs have plummeted. Developers are looking to unload. Indeed the banks now own quite a bit of really nice land. Call up a few of your local banks and ask for their property listings. You might find a great deal by buying directly from the bank.
- Many material costs are at 10 year lows. Since no one is building demand is very low and inventories are up. Classic over-supply and under-demand.
- Everyone in the process is open to negotiation. Realtors, Land Owners, Architects, General Contractors, Sub-Contractors, Suppliers, etc.
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