Home Buying in Dayton>Question Details

Gary, Both Buyer and Seller in Dayton, OH

New Home/Build Transactions Dayton Ohio

Asked by Gary, Dayton, OH Mon Feb 18, 2008

I'm wondering if given the house market situation we all hear about, if new home builders are hurting to unload their properties or just to sell a new build. I am in Huber Heights, and I have a home I may be willing to take a small hit on the sale. I'm wondering if builders are willing to work out a "trade" or some sort of gauranteed sale of my home. What are the tools and incentives that builders are using right now, if any? I'm looking to unload a 3 bd ranch for $90 - $95, and I'm looking to spend around $170 - $190 in beavercreek or any other local area without local income tax (if that helps give a more accurate response).

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Hi Gary,
I was asked to speak to the Home Builders Assoc. of Dayton in early March because of my knowledge of the industry and I have some good info for you. New construction in the Miami Valley is down 19.5% and builders are stacking up the incentives. They are not interested in trades or guaranteed sales but they are interested in moving their inventory!

Most of the advice you have been given thus far is great! Work with an agent who knows what they are doing, talk to builders about incentives and perhaps competetive lending rates if they offer. I see another great avenue for you as well...find a home for sale (work wth a great agent to accomplish this) that has been built within the last year or two and see if the seller is up for a trade or in many cases, the homes price has declined and you can capitalize on more than a 5% price decline because it is an "existing" home rather than new construction.

Smart timing on your part! I'm available to discuss your options.
Web Reference: http://www.jennall.com
0 votes Thank Flag Link Fri Mar 28, 2008
Hi Gary,

You are certainly getting a lot of advice, and most of it is good advice. But you must take some action, call and agent and get the ball rolling. Work with an agent who is BIG on the internet, just like Don Shurts has stated - giving you national exposure that is more than a "one daynewsprint advertisement." The biggest mistake most agents are making in this market is relying on what always worked in the past - which is just not working anymore!

I think it would be in your best interest to meet with a couple of agents and find one that you feel comfortable with. Ask them for an "easy-out" in the listing contract if you are not satisfied - we give all of our clients the option of taking an easy out if we do not deliver what we promised to deliver - I think it is esential in today's challenging market.

The key is, take action, work with an agent who will take action - one that is not afraid to go talk to your builder, negotiate with them, ask for things that most agents would not ask for.

I wish you the best of luck in what you are looking for! Go to our webiste for a FREE, customized Market Overview of your area, to help you find the appropriate price to market your current home. visit our website listed here to get started on that request.

0 votes Thank Flag Link Sun Mar 23, 2008
Hi Gary. You've gotten some good comments to your question thus far. One additional thing to consider when selling in a buyer's market. Some people consider waiting the market out - waiting to sell their house until they can get a better price. In most cases that is a mistate especially when moving up to a larger home. For example, let's say you take a 5% reductionon your current home in your target price of $95K which would be an accepted offer of about $90,225. Then you turn around and buy a home in Beavercreek at $180K and are able to save 5% on that purchase of that home, that is a savings of $9000. You come out ahead over $4000. Where as when someone waits for a "better" market to get more for their current house, they often forget that the house they want to buy is also getting a better price. In the current market, we are finding that sellers in the higher price ranges are willing to reduce the asking price by a larger % and/or are willing help pay the buyers closing cost. So it's a good time to be a buyer...and in some cases outweighs the downside of being a seller. Also, when selling your home, make sure your agent gives you national and international marketing. Always available to chat about your situtation.
0 votes Thank Flag Link Sun Mar 23, 2008
You might wanna try just posting an ad at http://www.caretotrade.com in the real estate section and see if anything happens.
0 votes Thank Flag Link Fri Mar 7, 2008
Hi Gary!

You may not need to take a hit on your home. Has anyone done a highest price analysis (HPA) for you yet? A HPA is a tool which shows what your home will sell for within 90 days in order to net a maximum profit. If that would be of value to you, please let me know. I'd be happy to do one for you with no obligation. I am a New Construction Specialist and have information on all the area builders. Is there any in particular you would like the information on? I'd be happy to email or mail it to you. Please email or call and let me know.

Christina Asad Edwards, REALTOR
2006 & 2007 Sales Masters Top Agent
mobile or text 937-205-4741
office 937-573-0082
fax 937-433-3561
Real Living Realty - #1 in OHIO!
Realty, Mortgage, Title, Relocation
Web Reference: http://www.teamedwards.info
0 votes Thank Flag Link Tue Mar 4, 2008
Hi there, I live in Huber Heights as well. I would not look to the builders for help, and I would not enter into a gauranteed sale program either. You would be better off to put your home on the market at a listed price that is competive with other homes on the market. Make sure the home you are selling is looking good! With so many homes on the market right now, it is very important to have neutral colors, newer carpet and some updates. i have a flexible commission program that is designed to save sellers money. Give me a call or e-mail me if you would like more information.
0 votes Thank Flag Link Tue Feb 19, 2008
I would be willing to meet with you to see what your options are. The first thing to reealize about most builders is that they will not guarantee a sale - they rely on the agents, like myself, to do that. Most builders do not want the risk. I can do a guaranteed sale, however, what you will get out of the guarantee is not going to be worth your while - kind of like 70 cents on the dollar. If any agent tells you more than that, they are lying to you - check tghe "hidden costs and fees."

We have structured a successfull seller plan that works VERY well and helps all parties involved - the buyer, the builder, the buyer of your existing home, - everybody wins. The problem, most builders are not open minded enough to listen to an idea that works unless they think of it themselves - it must be an ego thing, I dont know.

Anyway, let me know when we can get together and discuss your options, I would love to show you our new program and see what is available in the area you want to build. Visit my website or send me an email at sold@JohnYouker.com
Web Reference: http://www.SWOhioRealty.com
0 votes Thank Flag Link Mon Feb 18, 2008
Yes, builders have taken a hit in the Dayton area and they have either reduced their prices on existing homes or offered incentives such as free morning rooms or finished basements in order to sell their homes. However, given the inventory of homes in the market that are for sale, I doubt if you could get a builder to enter into a trade with you. Drees and Beazer homes have left the Miami Valley altogether to no longer build once they get done with those they have already started. It's a great time to buy with high inventory and low interest rates and it sounds like your home would be especially nice for first time buyers. A Realtor who knows the market in your area can represent you with the purchase of a new home as well as help you sell your existing home.
Web Reference: http://www.marystarkey.com
0 votes Thank Flag Link Mon Feb 18, 2008
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