Home Buying in Folsom>Question Details

sam, Home Buyer in Folsom, CA

New construction home in empire ranch - 530K for a 3100 sq ft 7000 lot size.

Asked by sam, Folsom, CA Fri Aug 17, 2012

Is this a good deal with the tight inventory in folsom. Tried negotiating and this was the best price builder would agree too.

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3
1 vote Thank Flag Link Fri Aug 17, 2012
Yesterday I did a CMA for that size home in Folsom. The price per square foot average in June and July was $161 per square foot for used homes, including short sales and REOs that brought the average down a bit. MY CMA included homes with great landscaping and upgrades as well as some distress sales. So it averaged out. Literally.

The new home price you quoted is about $171 per square foot. Is it worth an extra $10 per sq foot ($31,000 ) to have everything new? You can buy a used home cheaper, - but not much cheaper.- unless its got problems. Personal preference is what will make you decide.
0 votes Thank Flag Link Fri Aug 17, 2012
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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Hi Sam...

That's not too bad a price when you think about it. You're getting a brand new home with builder warranties...

The lot may not be all that big but it's pretty standard now. What else does it come with...?

You might ask the agent you are working with to run some comparable sales for you.. Because of the way you asked the question, it sounds to me like you've been looking for a while and kind of already know don't you...?

Let us know what happens...

I hope this helps...

In the mean time

Make it a great day...!
0 votes Thank Flag Link Fri Aug 17, 2012
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