Do you have more trouble selling new homes because of the interest rate hikesʔ

I have yet to pull the trigger and buy new homes. We have 52 occupied and 18 vacant so it’s easier for us to just put $10k into a home and sell for $12k (we are on the 21st program).

I was planning on ordering some in 2023 but the rates shot up and raised the prices for buyers. How is everyone else doing on new home salesʔ

We have had mixed success. One of our communities is older, which means it has much smaller lots. In this particular community, we have had a bear of a time selling new homes. The combination of the recent new house price hikes and high interest rates, it is the first time we have had new homes sit for a few months. We have even begun renting two of the new homes to create some cash flow. Up until now, the idea of renting homes, we have avoided like it was the plague. Here’s hoping things turn around soon.

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Eric sorry to hear you had to cross over to the dark side. It may be hard to go back.


Our problem is not small lots, we have large ones. I’m just afraid that if I buy new that my customers won’t be able to afford them. 21st Mortgage did an analysis on my zip code and said my customers could afford to pay $950 / mo lot rent + payments. I was about $100 below that before, now I’m $100 above. I’m very hesitant to rent so I’ll plod along like this for awhile.

I still have lots of vacant homes (started with 25, now I have 18) and this spring I’m doubling down on getting them renovated. I’ve had mixed success in the past. Mostly they start out fine but fade as time goes by.

Thanks for your input.

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I have every intention of selling these homes ASAP. I am creeped out by even flirting with the dark side :wink:

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Good luck, we know every home has a buyer. It’s just a matter of time till one showes up.
Are you able to get out of the rental leases quickly when you do find buyers.