My understanding from working with builders in the past is the credit to agents, commissions, etc. are automatically built into their marketing budget. So the builder isn't going to credit you "commission or agent bonus". With that said, they have different sales incentives offered throughout their selling cycle and it all depends on the supply and demand, plus if they are trying to draw from their construction loan in order to release a new phase.
Some of the incentives Builders will offer is interest rate buy down, upgrade credits, and credit towards closing cost. My experience lately is that the only incentives builders are offer (because of the high demand) is credit towards closing cost and interest rate buy down. When they have a less than desirable lot they will make special pricing on that location which often times has some awesome upgrades.
When purchasing new construction beware that the builders pass on to the buyer most of the closing cost which usually are paid by the seller. Also, they have their own contract which has language a buyer needs to understand how that can affect their earnest money and closing.
As for future, Q4 has leveled just a bit, but I haven't seen prices drop for new construction. Predictions are 3% or more increase next year and possible interest rate increase. What the Fed. to see how this plays out.... more
Year built isn't usually a factor that affects home value, either from a market value point of view, or from an appraisal point of view.
What's more significant is the overall condition of the property.
Has it been updated? Remodeled? Or is it original?
I've seen homes which were built within the last 5 to 10 years which were clearly built down to a budget rather than up to a standard. Compare these to a 100 year old home in excellent condition with modern amenities, and the newer one doesn't stand up so well.
Most older homes in the greater bay area have had improvements done which in turn improve the value.
I think the appreciation will be similar in both cases, really it's the condition which matters.
I hope this helps,
The plan for 955 Stewart Drive has changed. Originally, Pulte Homes was planning 161 townhouse units. However on 8/13/12, the Irvine Company put in an application to develop 186 multi-family rental units at that site.... more
You can find school information at http://www.greatschools.org/, the schools might change with a specific address. You can also check the API scores for different schools. Depending upon the age of your child you many not need to be in a high scoring school district at this time.
Monica Goyal... more
New homes are usually at a premium over older homes.
Updated is at a premium.
2 car garages side by side are preferred by most people to tandem garages.
It is a builder with a good track record.
Floor plans where you do not have to climb stairs to bring up groceries are a premium.
Quality of materials will have an impact.
Amount of light and location will impact price.
Amount of noise.
Also at this point time we are and have been at extreme lows for the number of condos on the market. They are getting snapped up as soon as they are being built.
One thing that most people do not seem to realize is that agents are to help you understand these things. Compare prices, negotiate for you and protect your interests.
Most builders cooperate with real estate agents. This means that as long as you bring your agent or arrangements are made before you see the property or sign in the builder will compensate the agent. You may think you will get a better price because the builder will not have to split it with the agent but this is not the case. In many cases the agent will help negotiate a better price or possilby some upgrades you would not have the leverage to do yourself.
The other thing an agent should do for you is help you understand the paperwork and get information about the homeowners association to make sure you are in a good one. There are quite a few condo associations out there that are in litigation with a builder. Real Estate agents know the questions to ask to try to make sure you are making a good decision for YOU.
Good luck!... more
A question like this was posted not that long ago, and I'd say the answer would be about the same. There is nothing wrong with purchasing a new home within your budget, however, the most important rule is: location, location, location. With your desire to own a home in a more desirable location and school district, my concern is with the spread that could occur over the next 4-5 years with the appreciation of the desired home outpacing the value on the condominium. Generally better neighborhoods with better schools fare better in appreciating markets, so the question to you would be can you bridge that gap when that time comes. Condo's typically have a lower rate of appreciation than single family homes, which is another factor to be considered if that market is trending up. But ultimately, you have to decide what kind of home you really want to be in, and whether you've explored other housing options before jumping ahead. A good agent should be able to help you sort it all out, sound like more data and perhaps more looking are in order. Wish you well.... more
Waiting for your area to rebound means that the other areas are also rebounding as well. If you can sell now with a profit why not do it. At least at these prices you can buy into a 'better' zip code. Who knows what will happen next year. By then prices in neighboring areas might have gone up to being not affordable anymore. At the same time interest is still fairly low. We do not know where it will be next year and if it goes up you might not have the income to pay for the higher interest or the buyers that could buy your home now might not qualify later at higher interest rates.
Proposition 13 limits the taxation of property to 1.2% of a property’s assessed value (as a Buyer this is the sales price), plus any special assessments and improvement bonds approved by the voters. Property tax increases are limited to a 2% increase in the assessed value of the property per year.
County Sales & Use Taxes can be found here: http://www.boe.ca.gov/pdf/pub71.pdf
Best, Steve... more
I have been at several brokerages and really like Keller Williams:
1. Tons of education and help
2. office teaches how to get leads but does not give them to you
3. kw gives you a free website or you can purchase your own from a website company template I like Propertyminder
4. most companies start you on a 50/50 split. KW starts at 70% and then caps you out after you have paid a certain amount depending on the office
5. KW does not charge a desk a fee if you work at home. Most companies do. you will have to pay e & O insurance no matter where you are
Talk to both large and small offices and get a feel for what works for you. Many small offices have brokers who are also agents and therefore in competition with the agents, but sometimes that works out ok if you get referrals from the broker.
Please feel free to contact me if you have more questions
DRE 01191194... more
Well there's nothing wrong with Arcadia Terrace, but 350K might buy you a small house in some areas of Sunnyvale. Are you set on a condo? Arcadia is set up to have someone above or below you, and therefore has more of a feel of apartment style living. They have a good mix of 2 and 3 bedrooms, and do have garages down below, but it can be a trip to your unit with the groceries. But the units themselves are pretty nice. I'd say location isn't the most prime area, but it's it's own little community, so relatively insulated from the surrounding neighborhood of apartments. I just ran comps under 400K, and it is possible to buy a 3/1 for $350K but you have to be quick, well qualified, and be able to make a decision quickly because they do sell fast. Whatever you decide, wish you best of luck, and if I can help, please contact me. Sheila Benson 30+ years in Real Estate... more
Some older mobile homes can be hard to finance through a bank. therefore some sellers are more willing to do an owner finance type of arrangement. They may be more willing to sell to someone with bad credit than a bank would. Especially if they are motivated to move quickly and space rents are high. There could be many other reasons too.
Manufactured Home Dealer
Real Estate Broker... more
In understand your dilemma. The problem is due to the fact that desirable areas go up faster in good times and go down slower in bad times. Conversely not so desirable areas go up slower in good times and go down in prices faster in bad times.
The difference in prices will never be as little as it was back in 2002, no matter what what tomorrow holds the gap in prices will always continue to increase. Having said that, you have not missed the boat. You do have some equity in your home and the sooner to step up the more you'll benefit from your move.
What I suggest is for you to talk with a few Realtors, get their ideas and solutions. Once you have a solution you're comfortable with, start working toward achieving your goal.
Hope this helps,
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Community Moderator... more