rolikhattar, Home Buyer in Cerritos, CA

are these new homes in buena park overpriced? It looks like the houses nearby are not in the same price range.

Asked by rolikhattar, Cerritos, CA Thu Sep 27, 2012

This question was asked from http://www.trulia.com/property/3071112173-Alcott-27-Revell-C…

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2
Kawain Payne’s answer
Hello Rolikhatter,

Home prices all ver Orange county have been on the rise, The demand for brand new construction is very high, I have seen this in my city(garden Grove) where new towne homes and some SFR are priced high and still move fast.

Comparing new construction to older homes is not an apples to apples comparison.

Keep in mind some of the older homes you see listed may be distressed sales ( REO or Short Sales)
or they may need a little work.

New home developments may offer incentives for the buyers that sellers of older home can not offer. This is another point to ponder.

Last but not least...new does not ALWAYS mean better. Older homes were built with better material, higher quality workamanship and have already stood the test of time. If you are willing to invest a few bucks and some hard work you can fix up an older home to look just as sharp (almost) as a newer one.

Much Success to you!!!

Kawain Payne, Realtor
0 votes Thank Flag Link Thu Sep 27, 2012
The surrounding homes are older construction, this is a new construction "pocket tract" built on yesterdays strawberry fields. I understand they are selling quickly, that tells us there is a demand which prevails higher prices.
0 votes Thank Flag Link Thu Sep 27, 2012
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