Tuesday, October 11, 2011

New Homes - Remember those????? Colina Del Sur by K Hovanian

I previewed a new community today just south of Jomax road between 67th and 83rd avenue. Colina Del Sur is a subdivision built by K Hovanian Homes. The homes are ranch style on oversized lots starting from around $300,000. I had several discussions with some of the people viewing the model and there seemed to be two main conversational themes

1/ When was the last time you saw new homes being built?
2/ How do these compare with used homes in the market and especially those that are bank owned?

So one of the things that I find encouraging about the NW Valley right now is the sudden reappearance of people swinging hammers and flags pointed high above several new home developments. This to me is a key indicator that the market is at a point of recovery. The grand opening of this subdivision completely overwhelmed the sale people to the point that they completely ran out of literature. Admittedly I'm sure a large percentage of this traffic was curiosity seekers but it still shows movement in what has been a very stagnant market. Model homes are great! they have a way of making home buying seem fun again! I think everyone has had a enough of looking at pictures of homes with trashed cabinets and concrete poured down sinks!!!

So how do these new homes match up? well they look great in the model, but you are probably up to $50,000 lighter once you take the sales price and spend an afternoon walking through the design center! They are offering some incentives (although I noticed these were not heavily advertised and I had to ask), there is $5000 towards closing costs and $5000 off at the design center. These are unique properties in that they are single storey and up to 4500 sq ft. The plus side of a new home is they come fully warranted. You might pay more than you would for an REO but you will not inherit any of the possible headaches of buying a home "as is".

Bottom line is if you are interested in buying a new home, the homebuilders want nothing more than for you to show up without representation. Its cheaper for them and you are less likely to place as many demands and require as many assurances as would a seasoned agent. It costs nothing to you as the buyer and I would encourage you to contact me today if you want help being guided through this fun and exciting process!!



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