Why is it that a builder can sell inflated new homes to unsuspecting buyers and get away with it? This has been going on with builders in the Poconos for many years, but after many law suits and criminal charges, it continues to go on today. Classic Homes of Pocono Summit purchases lots at tax sales in A Pocono Country Place for up to $ 500 and builds homes on them. Doesn't seem like anything is wrong, does it? Well, when a buyer goes to get financing for them the lenders require an appraisal on the new home. Even though a newly constructed home costs more to build, you still have to compare the price of the new home with comparable sales within the same community. These sales must be within 6 miles and 6 months of the current property, and the comparable properties used MUST be Resale Homes and NOT newly constructed ones! Since the average sales price of homes in A Pocono Country Place over the past 6 months hovers under $ 60,000, it seems hard to believe that the average New Home with Classic Homes costs $190,000. They have closed over a dozen homes this year! How?
Andy Williams
President
Abacus Regional Mortgage
484 695 5972
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