The $250/ Sq. Ft. is just the asking price. Even when purchasing a new home it is smart to have a Realtor. They can negotiate on your behalf and know the market.
I represented a buyer in El Dorado Hills who purchased a new Shea home in Serrano. The base price was $503,000 but my client purchased it for $485,000 with the closing costs paid for. Everything is negotiable :)
I live in Folsom myself and absolutely LOVE it! I can't see myself living anywhere else. And yes they are definitely more then some resale homes, but they sure are nice!! You pay for the location as always and throw in a brand new home with new bells and whistles and its even more. The New Riata homes are beautiful. I am a huge fan of the Elliott homes personally. I live in Broadstone which was built by Elliott as well. They have always built beautiful homes in my opinion, and have great floor plans.
When you go brand new make sure to really check into how expensive Mello Roos can be. Take into consideration the cost of landscaping (usually the back yard) and all the "upgrades" and "incentives" they try and throw at you. A lot of times too they suggest using their lender to receive these "incentives" and if you don't you loose the "free upgrades etc" which I've never been fond of how new housing has been known to do this. It would be a good idea to to be pre-qualified elsewhere as well to make sure they aren't charging you too much. On the flip side new home purchases do however make it easy to customize it with new features as it is being built without having to try and remodel something later. Pull out your best negotiating skills because they don't co-op with agents since it's a sellers market :(
Whatever way you choose, Folsom is a wonderful place to live, and is extremely desirable for all that it has to offer. And if you plan on being there for some time your wallet will be thanking you for the solar. Especially in the summer always running the AC. It 's a great home feature when you resell as well.
Best of luck to you in your home search. Happy Holidays!!
New homes often set the values for a given area, even when resale values around them are all over the map. The peace of mind you will have in a new home, with its state-of-the-art energy savings amenities, the no-maintenance aspects, and "clean slate" feeling of being able to make it reflect your tastes can be gratifying.
If I am not mistaken, this is a Folsom development. As a Folsom resident, I think we chose one of the BEST places to live in terms of the future. But in today's economic environment (while it seems to be slowly on the mend) don't buy it if you are looking for quick appreciation. Buy it because you love it, because you want to hang on to it and because it reflects everything you want in a home at this stage of your life.