Wednesday, April 4, 2007 "When you buy before its built"

The New York Times has been coming through with some good (relevant) articles for boomers relocating or buying second homes. Today, they tackle the process of buying a new home or condo before its built.

"Buying into a development before construction has begun is not a new phenomenon, but with the slowdown in the real estate market — and in condo sales in many areas — the rules are changing. A few years ago, the incentive to condo buyers was clear: You would buy early, sit back and, by the time the building was in place, be pretty certain that the unit’s value had increased substantially. But the days of buyers lining up for a condo in a building that might be years from completion are long gone — and developers are facing a new reality."

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