I know the Rialto community very well and on the right lot with the proper strategy you can still do very well. One of my clients has a Stockton under construction and the base price was $517,990 but that was without any lot premium or options. Lennar was offering some incentives so with a little strategic planning they will be in the home on a great lot with a nice option package for a little over $550,000.
If you have not registered at Rialto, or any other new home community, please do not do so without having a Realtor by you side. Please feel free to give me a call as in Rialto I can probably save you thousands of dollars compared to what you would spend if I wasn't there to work with you. Just make sure you ask me about my new home experience package. The new home experience needs to be fully understood as their contracts are very one sided and you need to know what potentially that can mean to you. You will also find that there are significant expenses that the builder will pass along to you that in a resale contract are almost always paid for by the seller. Be VERY careful with quoted timelines; I have another client who believed what DiVosta told them for a projected closing date and we are now about three months behind and I cannot tell you what problems that is creating.
By the way I love the Stockton and it is indeed a great floor plan; I love the guest suite on the back of the home off the family room. Their Stockton model has finishes that make the home shine in it's best light as the dark wood floors and custom cabinetry ooze "buy me". It is also the 2nd smalls floor plan in the Estates Collection so the old "buy the least expensive home in the most expensive neighborhood" cliche comes into play. Be very careful on lot selection as you know I-95 adjoins the community and even though walls and set backs have been incorporated you need to make a visit after dark with a couple lawn chairs in your potential back yard. I'll bring the wine! Rialto, like most builders, have benefitted greatly from the lack of inventory and strong real estate market we have experienced over the past year. They have increased prices and even pulled their last section of lots for the Executive Collection at Rialto off the market which may turn out to be a poor decision. They have raised prices but if the market continues to slow as we have been experiencing look for that to change.
In Jupiter we have seen seen single family home sales drop for three straight months; most recently by 32% to a new 18 month low. Inventory levels were up for the 2nd straight month to the highest levels we have seen in 5 months and you may be interested to learn more about these topics by reading the articles we recently published on Trulia that can be accessed using these links;
However the market is constantly changing and you need to know at any point in time how the current metrics will affect you on the purchase of any unique parcel. We have seen signs that would point to higher prices ahead with absorption rates improving slightly in Jupiter over the past 30 days. However interest rates are up another 7 basis points this week to a new 8 weeks high and you should fully understand the interest rate risk you could be taking by starting at square one with new construction.
I do have insight on any new opportunities that become available in Rialto so if you have not already registered in that community and you want to save some money and secure a great deal please feel free to contact me at your convenience. Understand that a qualified RealtorÂ® who understands the local market will be your best advocate in making wise and financially sound decisions.
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty