Here are the answers to your questions:
Q: Any opinions on these?
A: As Bonnie mentioned, Braddock and Logan are terrific builders and have an awesome reputation. They build a quality product in every way. They are also in a great commute location.
Q: Prices likely to drop?
A: It totally depends on the market as a whole. As you know, prices go up and down (more on the downward side lately). Many developers have lowered their prices with the market â€“ it is impossible to say what Braddock and Logan will actually do.
Q: Will the builder finish this 106 home development?
A: Eventually â€“ the questions is when. Truth is, developers in the current market are usually only building what they can sell. Most builders are now taking advance orders only and building once they have the deposits in place. All the units will be built â€“ eventually.
Q: Theyâ€™ve just released phase 1 and there are 9 phases? Is it better to wait until the development is 50%-75% complete?
A: If you need a home now, you might consider seeing what kind of a deal you can negotiate. You will have more leverage now than when the market starts to turn. Hayward prices have been hit very hard â€“ itâ€™s hard to know if they will fall much further still. See the link below for current Hayward Market data.
Q: Maybe itâ€™s better to purchase to existing home and update it with modern touches. I think Iâ€™m allured by the modern, contemporary layout.
A: Thatâ€™s a decision only you can make. However, there are some great designers and contractors out there right now willing to give good deals on their services. If you purchased an existing home and were able to negotiate a terrific deal, you would probably be in a good position to renovate your home to make it exactly the way youâ€™d like it.
One last thing. If you decide to go the route of buying from a builder, make sure you take a Realtor with you to negotiate the best possible price and terms. They will need to go with you on your first visit. And make sure you choose a Realtor who has experience dealing with builders.
Hope that helps.
Assuming you don't already have a mortgage, if you like the Cross Creek development and the numbers work for you, i.e. your payment is comfortable, it's probably a good idea to buy. However, keep in mind that in this declining market the builder could possibly lower prices on future phases. Braddock and Logan has been in business for decades and has a good reputation.
My advise to anyone who is asking whether or not they should buy right now is - if you're planning on buying because you want a home of your own and you plan on staying in the home for at least 8-10 years historically your investment will appreciate in value. So, it doesn't really matter if Braddock and Logan lowers their prices on future phases if you're planning to stay in your home for awhile.
Good luck to you Jasmin. Let me know if you have any other questions................................Bonnie