Market Conditions in Parker>Question Details

311.deepak, Home Buyer in Parker, CO

Is this home fairly priced?

Asked by 311.deepak, Parker, CO Mon Sep 2, 2013

This question was asked from http://www.trulia.com/property/3129763792-10776-Worthington-…

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4
Determining "fair market value" for new construction is not the same as for resale homes. The builder has a "base price" and then it goes up from there, depending on the upgrades. Some builders do offer "incentives" that can be used in various ways -- i.e. a reduction in purchase price, or $$ paid for closing costs, or upgrades. But beware -- incentives are typically tied to using their lender. And their lender doesn't always offer the most competitive rate or fees.

But due to the lack of inventory and high buyer demand, builders are increasing their prices, and decreasing their incentives. Based on the fact that buyers are buying these homes, at these prices, then yes, they are priced "fairly".

I would definitely hire a Realtor as a Buyer's Agent who can help you navigate the home buying process -- even with new construction. The builder's sales rep is working for the builder, not YOU. An agent can help negotiate on price/incentives, and also attend all meetings with the builder, and be another set of eyes & ears during the construction process. They can advise on what upgrades are smart decisions (for resale down the road) and what upgrades are a waste of money. The builder won't tell you those things.

Good luck!
0 votes Thank Flag Link Tue Sep 3, 2013
So this home is a new build. Another model just like it is on the market on 10632 Worthington for $425,000 but it is closer to completion (August-September); the house you're asking about is due for completion in the November-December time frame. The $403,000 price will likely change as the home is closer to completion as the finishes are added. You may be able to get into it so that you can choose the finishes, which may drive up the price even more, unless you are really good at not giving into temptation at the design center. The price is also based on you using the builders mortgage company so you'd have to make sure that makes sense for you also. They offer incentives but sometimes the interest rates aren't as competitive so you'll have to compare their lender with another. Meridian is a great area, everything is new and it is just minutes to I-25. Call me with more questions. 303-210-4897 or email me at denise@westalls.com.
0 votes Thank Flag Link Mon Sep 2, 2013
It looks like you are comparing prices on newly built homes. If you are thinking of buying from a builder you should contact a Realtor who specializes in residential real estate and also knows the market in the area. I would be happy to assist you.

Lauren Ybarra, SFR, CHRE
Realtor
Equity Colorado
720-312-2514
http://www.FreshColoradoListings.com
0 votes Thank Flag Link Mon Sep 2, 2013
Hi There,

In my opinion, I feel this is priced correctly. I actually own a home in Meridian and this is an area that is showing a lot of growth due to businesses moving here and the Sky Ridge Medical Center.

If you would like to take a look at it, let me know. There are a few others as well in this area.

Brian
(720) 490-1687
BrianSmith@TheMeridianTeam.com
0 votes Thank Flag Link Mon Sep 2, 2013
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