Home Buying in Frisco>Question Details

Padmini, Home Buyer in Frisco, TX

Quote price validation - Trails of W Frisco - Ashton Woods Home Builders - Reasonable???

Asked by Padmini, Frisco, TX Fri Jan 16, 2009

i am planning to build a home with Ashton Woods Home Builders in Trails of W Frisco. They are quoting a 2492 sq ft SFR home as $267900 ( 107/sqft). I am not sure if this overpriced. Avg price around this place is quoted as 91/sqft. This being buyer's market, I am concerned if I am paying more. Should I go for a realtor to get this negotiated. Pls help.

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8
Padmini
I would definitely get an Agent to help you out.
Hope this helps.
Jeff
0 votes Thank Flag Link Fri Jan 16, 2009
Hello Padmini,

Price per square foot alone is not the most reliable way to determine the value of a property because there are so many variables that affect the value of a home. 2492 sq ft is a smaller floor plan for this neighborhood. This can make it a good investment because the smaller homes in a neighborhood are typically valued higher per square foot than larger homes. The most recent sale that was recorded in MLS for The Trails sold for $98.70 per square foot. However, this was a 3500 square foot home built by Ashton Woods and one sale doesn’t establish a reliable measure of value. There have not been any sales recorded recently for smaller homes in this neighborhood, so it will take more information about the features of the house and a little research to determine an accurate value.

The value of any property varies greatly by location, features, and upgrades. In new construction especially, a REALTOR has the negotiating power to help you get the best deal for not only the base price of the home, but also any upgrades that you may want to have the builder include. A REALTOR can also advise you on lot choices, features, finishes, and even financing options that can make your investment stronger. The builder doesn't represent you. Your REALTOR does.

The realtor's commission is paid by Ashton Woods and doesn't affect the price that you pay for the home. Some builder's reps may discourage your representation by an agent, but it is usually because the agent's commission is paid out of the advertising expense for a neighborhood. That means the rep won't have as much money to spend to market their inventory. However, most builders understand that REALTORS are a major part of their marketing program and appreciate the contribution that an agent makes to communication and even negotiations.
0 votes Thank Flag Link Fri Jan 16, 2009
Hi Padmini,

Builders build with a cost + margin mentality. They don't really think about comps in the area. Would love to help you with your new home purchase as I come from a new home sales background. I know the builder and what they are thinking. Many people think they'll just deal with the builder themselves - what could go wrong, right? Please take a look at my blog at just ONE client's experience.

Happy to help,
Terri Hayley
The Hayley Group
972.468.5021
0 votes Thank Flag Link Fri Jan 16, 2009
Hi Padmini,
Yes - and not just to negotiate the price, but the total purchase, and to protect your interests throughout the build job and through/beyond closing. A good Realtor isn't done with a build job when the contract is signed with the builder. They attend all major events - like walk-thru's at framing, pre-drywall, and final construction. They also troubleshoot on your behalf should issues arise with any builder during the build job. I would never suggest buying new construction without a Realtor in your corner. Our services are free to you. The builders pay real estate commissions. You picked a solid builder in a great neighborhood in a wonderful city. Now, pick a great agent to assist you.
Web Reference: http://www.rondaallen.net
0 votes Thank Flag Link Fri Jan 16, 2009
Yes I would always advise the consumer to use a Realtor. I' am currently helping a family member with a build job in the same neighborhood. Using a realtor can save you lots of headaches and lots of money. If you would like discuss this further please send me an email at gregvasquez@judgefite.com or give me a call at 972-835-8107. Have a great day.
0 votes Thank Flag Link Fri Jan 16, 2009
Hi Padmini,

You should have a Realtor, to protect your interests. A Realtor, will be able to research the prices for that area and show you how the numbers work.

If you want to discuss with a Realtor, or have more questions..you may contact Gladstone Adams, directly @ 214-228-5480.

Best regards,

Mattye P. Smith
Realtor

American Realtors
0 votes Thank Flag Link Fri Jan 16, 2009
Yes, I think you should engage the assistance of a Realtor such as myself so you can squeeze as many incentives out of the builder as possible and get the best possible price. I always provide my buyers a 1% rebate to help get you into your home as well. Let me know if I can be of any assistance.

Mike Gonzalez, REALTOR®
Buyer Representative, Keller Williams Realty
(214) 783-4240 | MikeTX@kw.com | http://www.MetroplexAgent.com
0 votes Thank Flag Link Fri Jan 16, 2009
NEVER purchase home direct from a builder/seller/listing agent UNLESS you have your own realtor who represents you and covered under your buyers agent e & o insurance.

Builders contracts can be rather trickly requires realtor skills represent you determine you wont loss your escrow money. Many calls my office AFTER it to late for an realtor OR attorney get involved buyer did not know what they were signing. Realtor is FREE vs . paid by builder attorney will cost represent you.

HAVE you also considered Frisco which has an inventory of homes foreclosures with equity some are new construction.

Contact my office if I can assist you
Lynn
972-699-9111

NOTE: I am a Dallas realtor and Dallas mortgage loan officer
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Fri Jan 16, 2009
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