Sachin, Home Buyer in 08902

Looking for new constructions in Monroe township. Negotiations on base price and upgrades/ options.

Asked by Sachin, 08902 Wed Feb 9, 2011

Looking for new constructions in Monroe township. I have read that most of the builders are inflexible in negotiating on base price, but do include a lot of incentives. My questions are:
1. Would they still not negotiate in todays economy? Not expecting a 10% discount, but at least 3-5%.
2. In terms of upgrades (I am mainly interested in structural upgrades), if they say they provide 30K of free upgrades, how much more can I negotiate with them % wise or in absolute terms for upgrades?
3. Should I go with a realtor or 'my agent' to the builder for negotiations? I do not have an agent at the moment.

Thanks,

Sach

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BEST ANSWER
Hi Sachin,

A lot of builders are in a slump right now because of the market. New homes in Monroe are still being built but, the builders are pretty inflexible on the base price.. Why? The base prices are already down about 100k and more in most of the developments and we are seeing pretty much rock bottom pricing. I have been in on a few deals and the builders are absolutely not giving anything off the base.. but they offering tiles and granite where they were not there before and they are offering upgrade incentives.

I would use an agent that knows the area and has had conversation with these builders before as they tend to have a more open dialogue with the builder and properties sold. I know these developments very well and have been in the area for quite some time.

Be certain to continue with your due diligence and contact an agent from the area. There are agents posting answers from 40-50 miles out of the area and not in the daily loop of what is happening here.

Call or email further questions and we can see what is available within your range.

John Sacktig
Broker / Manager
Orange Key Realty
Direct: 732-213-1409
Email: JSacktig@orangekeyrealty.com
1 vote Thank Flag Link Thu Feb 10, 2011
Hi Sachin,

All of the builders in the area work with Realtors.. so the commission is paid by the builder.
So, you may think, hhmm.. Maybe if I go to the builder myself, I can save the builder the commission and take that off my price too.. it does not work that way. If you go by yourself, the builder will look to save that money for themselves and not pass along the commission saving to the buyer.. as at that point, they have your information, set the pricing and the commission is paid to their in-house sales person

With that, you truly do not have an agent working for you but rather a builder sales person facilitating the transaction.

Let me know your thoughts!

Email or call!

John Sacktig
Broker / Manager
Orange Key Realty
Direct: 732-213-1409
JSacktig@orangekeyrealty.com
1 vote Thank Flag Link Thu Feb 10, 2011
There are 3 Monroe Townships in New Jersey. If you are referring to the one in Gloucester County, please contact me at 856-261-6910 for assistance or email at njrealtorjan@comcast.net

Janet Larsen, Broker/Associate
Remax Connection
Web Reference: http://www.njrealtorjan.com
0 votes Thank Flag Link Sat Feb 12, 2011
Hi Sachin,
as far as I know, All the builders in Monroe Cooperate with brokers. Meaning, they will pay the Agent.
0 votes Thank Flag Link Thu Feb 10, 2011
My apologies for being ambiguous here. Looking for a single family home in Monroe Township, Middlesex County.

Since all the answers are by brokers, I had a question:

1. How would the broker/ 'my agent' get compensated here?

Thanks,

Sach
0 votes Thank Flag Link Thu Feb 10, 2011
Looks like we all need to know which Monroe Twp you are inquiring about. The one in Gloucester County or Middlesex County?
0 votes Thank Flag Link Thu Feb 10, 2011
Dear Sach,

PS. you should definitely register with an agent on your first visit to a development. That way you can have your agent be with you when you are negotiating and also to review the contract with you, which are different then the standard Board developed contracts. I have been both a buyer's agent and a new home site manager, so I know what it's like to be on either side of the table.

Let me know if I can be of assistance or answer any more questions for you.

Best regards,
Larry Werner
0 votes Thank Flag Link Thu Feb 10, 2011
There are currently numerous new home sites in Monroe Twp in Gloucester County, which you can build to suit or purchase a spec or model home. Are you looking for a single family or townhome? During most times, and especially in today's market, builders are almost always offering incentives of some form or another. Their sales are hurting as bad as resales. Just let me know what you are looking for and I will send you some MLS fact sheets based on your needs and wish list.

Best regards,

Larry Werner
856-784-5555 x19
0 votes Thank Flag Link Thu Feb 10, 2011
Hi Sachin,
Builders normally go by foot traffic to the development. If they see that, lots of people are showing interest than they will not negotiate. but if the traffic is slow, they may lower the base price and add insentives of free upgrades. Some builders may allow structural changes to their floor plans.
It is always good to have a realtor on your side who knows the area, but once you have gone to the builder w/o a realtor, they will not cooperate with a realtor. May i ask, which community you are interested in? My office is in Monroe. Please fee free to email me back for more questions.

http://alpabhagat.myglorianilsonagent.com
Use the above link to contact me.
0 votes Thank Flag Link Wed Feb 9, 2011
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