If you bought FHA, you put only 3.5% down (or even 0% with seller/realtor kickbacks), so you can walk away with no loss when prices drop.
Enjoy your new home.
Broker / Owner
Windermere Walnut Creek
"just around the corner on N Broadway"
The low income units must stay as low income units for an ongoing 45 years, with restricted appreciation and restricted income allowed... and remember that low income housing in Walnut Creek is priced higher than mansions in some parts of the country.
Will some end up as rentals ... who knows? I've only been selling real estate in Contra Costa for 35+ years. I have watched and lived with 4 cycles of the market ... and ultimately the prices went one way ... UP.
Bottom line, if you find a home you like, buy it ... make it your home and enjoy life. I don't care where you buy, buy your home for the long term
Obviously the developers are still listing at $300k to $700k, hoping someone will come along and pay those prices.
But realistically, few if any are going to sell at those prices, and the majority that don't sell as low-income housing are going to go as rentals like the Mercer.
Still curious for other opinions. I think they still want too much.
My undrstanding in talking to John last week is that they have 18 units pending out of 87 and are selling a little over 1 per week. In this strange market place that's not bad.
Is it common to try to keep the price up by providing incentives and upgrades ... absolutely and that has been done by builders for decades. 555YVR started out with this approach, but the focus recently has been more straight forward with the pricing and I think it's working. The Pre-opening prices were too high for the market and the public didn't go for the incentive bit
You can obviously go direct to 555 YVR, but if you want someone on your team during the process contact me at 925-408-0037. I would welcome the opportunity to help you purchase a home.