Once again - Brookfield is priced crazy.

BTW, have you taken a look at the unemployment numbers today?
The stock markets?
California's fiscal condition?

Do you seriously think rising unemployment (higher than expected numbers today) and worsening CA economy won't further impact housing this fall?

We're not completely out of the doldrums yet, although the late spring bump did help reduce inventory of resale and new homes in San Ramon. Overall, housing isn't very exciting, and won't be for a while imo.

jazz

Talk to the sales team there. If you are serious, they will probably give you a good deal. I decided against it and looking for an existing home. I think price per square foot is too high for new homes currently being offered.

Somebody in this forum posted that prices are likely to go down, but that does not seems to the case.

There are not a lot of existing homes inventory in windemere these days.

I wish you good luck in your efforts.

Ishaq, What you end up doing? I am also in same situation. I liked the brookfield's floor plans but seems too high price to me.

Thanks

Yeah, if you have kids in school and feel that you can afford the payments on the home you plan to buy, then I would consider buying as soon as you can. The schools have wait lists and you probably want your kids to settle in the area.

Good luck with your buying process!

Hi Ishaq,

I have recently done deals in Windemere in your price range and sq feet. I visit new builder communities frequently and I am positive that I can help you make an educated decision regarding which particular communities you should target for a better value and also which specific resale homes might be very attractive to consider. If interested, send me an email at windemererealtor@gmail.com with specific details of your requirement (e.g. Number of Bedrooms/baths, year Built, price range). It would also help to know whether you are interested only in Windemere or open to consider Gale Ranch homes as well.

Thanks Michael.

I am sold on existing homes rather than going with new homes.

I have two kids going to Elementary and Middle School. That may be one consideration for not waiting until Fall of this year. I can definitely wait until mid summer, as schools don't open until September.

I have seen some existing homes this weekend, and I am told I need to be pre-approved before I can make offers. I will start that process now.

Thank you all for a very informative posts.

-Ishaq

Hi Isaq,

My advice would be to wait, but it all depends on your current situation with your lease or if you have kids. If you're not in a hurry, I would wait until this fall at least. Inventories will increase and prices will go lower as more and more people can't hold out. Just in the past month, I've seen big drops in listing prices along with sales prices.

The solar community is actually from Lennar. That is something to consider, given that San Ramon is very hot in the summer time. Once I buy a home, I'll probably have it installed.

In terms of the other homes in Windemere, all of them don't have HOAs, but do have higher property taxes compared to Gale Ranch. The property tax rate depends on what phase the homes were built. Earlier phases have lower taxes.

With new homes, you do get the tax break. However, you'll have to put in some money for upgrades and landscaping. With the higher end Lennar homes, I know they've been offering free front and back yard landcaping along with window dressing and nice flooring. That makes the homes pretty much in move-in condition

Hope this helps.

Michael

************

Jazz,

I don't agree that Brookfield is pricier. I think they're about the same as everyone else. I think Shapell is pricier and they tend to not want to negotiate as much. Personally I like their floor plans and decor better as it has more of a modern feel. With Gale Ranch, it does have lower property taxes, but the locations are as nice. They're aren't as close to parks and if you go with the newer ones, they tend to be closer to the power lines. Also, they still have HOA and you're sending your kids to Quail Run, which is not as good as the Windemere schools.

I do agree that prices will continue to drop and you do get better deals with resale homes.

Michael

Ishaq,

Brookfield is probably one of the more overpriced builders in Windemere - not sure why they don't get where the market's at. The floorplans also leave much to be desired.

As another poster pointed out, you may see better values in Gale Ranch, with lower property taxes.

Although stocks have gone done significantly and the indexes are down to their lowest in 15 years or more, the housing prices haven't really followed. Given the state of the economy, the long-term macro-economic situation doesn't look that great, and that's bound to impact the housing prices. We're not even back to pre-2003 prices, as someone pointed out.

Having said that, if you find a house you really like, plan to live in it for >5-7 years, and the price isn't totally whacky compared to where the *current* market is (and Campton isn't in this category for me), think seriously about guying it.

There are also plenty of better deals if you look at resale homes - complete with some great upgrades and finished backyards (or whatever little pieces of land they call backyards these days... ).

jazz

Looking, Michael,

Thanks for the responses. My affordability is limited high $650K, and probably I can stretch to 700K. That is why my questions to the larger community as to what I should aim for. Campton has some homes for "sale", plan 1 is being offered at $700K.

One of the advise I got is to hold off as they are expecting it to go down further.

Another thing I read on this forums is, if 700s is affordable then probably I can look for the Centex Solar community Paloma which somebody has predicted will be sold for $720K.

There are quite a few older homes in the windemere community, some with HOA others without it.

I am more inclined towards new homes though.

Thanks,
Ishaq

You have to go much lower than that for the price per sqft. Look at the current homes available:

http://www.rockcliff.com/Search/PropDetail.aspx?listingID=12…

This one is already at $287 as the starting price. You can negotiate another 10% off the price pretty easily with either upgrades or towards closing. Also, look at these other homes:

http://www.rockcliff.com/Search/PropDetail.aspx?listingID=12…

This one is 240/sqft and it's in gale ranch. Lower property taxes and the home has tons of upgrades.

Thanks Jazz.

While looking around various plans in Windemere today, I met Rama Mehra, I have read quite a few of her blogs on this site and on web site. It was pleasant surprise to meet her. She did not give me any specifics but her advice was on the same lines.

However, I don't think any builder is selling homes at $250/sq ft. I don't know what is the average sale price in these communities these days. Going by some of the posts about average sales, looks like $290 would be a good deal. I am not sure though, I have never bought or sold a home ever.

Thanks,
Ishaq

Plan 1 is 2275 sqft. Even at $250/sqft, it should be around $570,000.