Homes for Sale by Bankrupt Builders

It is almost part of daily news now that more bankrupt builders are going to extremes to attract buyers, either through incentives or slashing prices. As reported, healthy developers are having problems selling their inventory homes, given the competition posed by foreclosure houses. While you shop around, don’t forget to take a look at the home for sale by bankrupt builders.

*For up-to-date information, download property descriptions & valuations in Quarterly Reports on Properties from Distressed Home Builders

Prices Comparable to Foreclosure Houses

We were just reviewing the recent homes closing notice filed by Mercedes Homes – see snapshot for Austin below. Homes at the Reserve at Westhill were sold for prices ranging from $465K to $671K, which are close to prices for foreclosure houses.

Mercedes Homes Sale Prices (Jan'09)

The full notice covers Charlotte, Dallas, Houston, Jacksonville, Melbourne, Orlando, San Antonio and Tampa. Remember to check out this filing and compare it to prices which you might get for foreclosure houses.

See our recent June’09 update on Mercedes Homes with the latest sale price comparables.