I have several clients that have bought in this neighborhood and there very happy. The new homes now start as low as $110K for 3 bedroom and 2 baths. Thanks, Sheli Stoddart, Welcome Home Realty, 623-363-6780

Hi Jeena,

To just add on to Jeffrey's answer below. Many buyers get wrapped up in the experience of buying a brand new home and don't take into account other expenses that you will incur immediately after move-in. Things like backyard landscaping can runs tens of thousands of dollars. Window coverings can cost thousands, not to mention appliances such as washers and dryers.

Many of the builders will offer move-in packages which would include some low cost window coverings and a washer/dryer. And I must agree with Jeffrey below as well. Bring a Realtor with you. The salespeople will pretty much tell you anything you want to hear just to get the sale.

Understand too that the price the salespeople are showing you is the BASE PRICE. That does not include any upgrades to the home. Unless the builder's base model has granite countertops, stainless steel appliances, and nice 20" ceramic tile, and high grade carpet, you could end spending tens of thousands more on those items.

I have found that the "spec homes" are often the best deals. These are homes that fell out of contract. The original buyer had to walk away for some reason. The builders want to get rid of these homes badly. And often, they will slash the prices to that of their base models. The only drawback to you the buyer is you usually don't have much choice on the interior items. But, if you're not picky you can get a great deal. And I have seen some BEAUTIFUL spec homes with close to $100k in upgrades out there.

Bring a Realtor.

Developers will give away upgrades rather than lower the price of the property. In this way they protect the resale/comps. Therefore you can't really look at the market price because thay may be kicking in tens of thousands in upgrades.
D.R. Horton isn't a doctor and you should be represented by an agent when you negotiate with the builders reps.

The market value's going to vary depending on the model you're looking at but the homes seem to be priced comparably with similar homes, throwing out the short sales with their imaginary list prices.

Jeffrey's right - if you're living in Austin, Texas. However, in the Phoenix area the better values have been either new builds or bank-owned properties. Most owners attempting to sell are unable to compete with the combination of price/incentives that the builders are offering. It's been that way for more than a year.

Whatever you do, just make sure you have an agent to represent you. The sales agents in the offices may seem friendly enough but they're representing the builder and the builders' best interest - not yours.

Jeena,

The Riata West Gardens, Dietz Crane Series are a GREAT value. Their floorplans range from 1310 - 2228 sqft. Prices starting in the $120's up to the $150's. If you would like more information or to schedule a showing, please let me know.

Respectfully,

Daniel

Jeena,

Make sure you absolutely have to have a new home. A resale home that's only a few years old, will cost you far less, especially in this economy. Too many people get emotionally wrapped up in wanting to have a new home, and quickly realize later that the infatuation wears off, and then shortly thereafter, many realize that they paid way too much for the short term satisfaction of a new home.

New home builders have to recoup current material costs, current labor and current land costs. All other things being equal, buying a new home compared to buying a home that's only 2-3 years old, could easily cost you 10% or more.

Finally, never, ever buy into a new home community that has only a single builder. They control the entire value proposition for both current homes and future value appreciation of those homes.

If you still have to have that new home, and you have to ask forums like this what the price should be, you really need someone who understands value in that community and surrounding ones. As Jim said, find a reliable agent with integrity who will help you through this process.

Good luck,

Jeffrey

One of their sales people should be able to tell you. What else they may tell you, and what they don't tell you can make being represented by an agent worthwhile--especially since it does not cost you anything. Moreover, Horton and other builders do not charge more for those represented by an agent, nor do they give discounts to those who are not.