My sister is buying a new home in San Antonio. How can she be sure that she isn't paying too much?

Asked by Sandra, Lassen Fri Aug 24, 2007

She is buying a home by DR Horton, the Kendall. She has never bought a home before so i want to help her be sure she is getting a good value. I am afraid she may pay more than the home is worth in a declining market.

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Jim Rooks, Agent, Dallas, TX
Fri Aug 24, 2007
One other item. The Kendall appears to be one of the more popular plans for Horton. It's basically a one story with the ability to add additional functionality on the second floor. They may not be motivated on such a popular plan!
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Jim Rooks, Agent, Dallas, TX
Fri Aug 24, 2007
San Antonio home prices are indeed a bit unpredictable right now. Although demand is down about 12% from last year and every indication is that new home inventories are up, the median selling price for homes is up as well.

The best approach I think your sister can take is to look at any recent sales by the builder on spec homes plus any resales data and form a conclusion from there. If the home is being built from scratch, most builders don't give much on their posted prices unless they are in dire need of keeping subs working or moving lot inventory. If it is a spec home that has been on the market for a number of months, there is likely more room to negotiate.

Hope this helps & good luck!
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Eric Estrada, Agent, San Antonio, TX
Fri Aug 24, 2007
That's a hard subject to address. Hopefully she has a Realtor who can work with her and let her know about the market for those homes--possibly looking into resale value of similar homes. Unfortunately, since it is a new home, there may not be much to compare it to. She might consider looking into other home comunities to see if she's getting the value that she wants.
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