July 21, 2014
In the mid-2000s, when the real estate market was red hot with new developments, home seekers gave nary a thought to making what can be described as the biggest decision of their lives: Buying something sight unseen.
For them, traipsing through model apartments, checking out pretty renderings, gawking at miniature models, stroking teensy squares of countertop finishes, thumbing through shiny marketing materials filled with information on everything but the kitchen sink to make an actual purchase was par for the course. (Oh, wait! They did include the kitchen sink.) But then all that changed by late 2007 when the stock market took a nosedive. Not a single potential buyer would even consider a new place to hang their hats without actually standing inside a frameless glass shower stall, checking out the size of a Sub-Zero refrigerator or getting high from real-time views seen through floor-to-ceiling window—and developers took note.
But that was then and this is now, and with an improving economy and increasing demand, the tides seem to have turned once again.
Is buying off blueprint back in full force?