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New construction is a great alternative to lack of inventory!

By
Managing Real Estate Broker with LoKation Real Estate

New construction is a great alternative especially when there is a lack of inventory! New homes are always fun to look at, to walk through and to see what the l;latest trends in real estate are. I have sold numerous new construction homes over the years and I really enjoy working with the builders and the on site sales people. When inventories are at historic lows and the built up demand for new constructionbuyers is causing multiple offer situations a great alternative is to go with your Realtor to look at some new inventory homes.

I say go with your Realtor for several reasons, but first and foremost know that having a second set of eyes especially when they are professional can be invaluable in the process. Several years ago I was helping an older couple sell their home of 27 years an buy new, they wanted all of the conveniences and features offered that a new home offers. We found the perfect model in a great community and put the offer together. This home was already 80% complete as another buyer backed out of the deal so it made for a quick move in as well (a couple months as compared to 6-9 months which is typical with a ground up build).

This couple lived about 40 miles from the new home site and I told them not to worry that I would go by and check in with the builder a couple times a week. My clients were grateful and as we went through the process I noticed two of the support beams in the rafters were completely snapped in half. I took some photos and some video of the broken beams and reported back to both the buyers and the builder, who assured me he would have his people take care of it before the ceiling was sealed up construction workerforever. I went back every couple days to make sure the work was being done and was assured by the foreman on the site that it was being taken care of, three days later the ceiling was sealed and I never saw the proof of work promised, so prior to close I asked for them to open up the ceiling and show us the work.

I had to go up a few levels in the chain of command before I could get some resolve, I showed the photos of the damage to everyone as we went through the process and eventually got to a decision maker that opened up the ceiling and lo and behold the beams were still snapped in half. They immediately went to work on correcting the issue with a much stronger reinforced beam and apologized up and down to the buyers.

This is a rare instance and builders are usually very good to work with but it shows the value of having a second set of eyes help you through the process and the beauty of this is that it costs you absolutely nothing, all fees are included in the price of the home regardless of whether or not an agent is involved, the builder just makes more if there is no agent.

So ask your favorite Realtor about new construction, it can add a lot of choices to your home buying process.

Posted by

 

John Marshall -Fore!

Low-Maintenance Golf Course Living

I have been involved in the Golf Communities through-out Colorado for the past several years. As a contributing writer for Colorado Golf Magazine I write articles regarding new course development and their surrounding communities.

720-982-6322

"A good agent will learn to dance to the clients music, but a great agent will write the music that attracts the clients he wants to dance with." John J Marshall

If you are a new agent and finding the road more difficult than you thought, please send me a note and I would be happy to help.

I enjoy helping agents to find their niche!

 I am happy to help.

Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

We had a HUGE surge in new home builds here in Arizona the past year. So much so that the new build prices skyrocketed and now the masses are moving back into the resale home market because no one can afford a new build now. The builders' greed came back to bite them once again. It doesn't seem like the new home builders know how to just be steady. 

Oct 14, 2014 09:54 AM
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Hey John,

yes it good to see building going on and the economy and market improving

Oct 14, 2014 10:48 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

John, I have a couple of new homes being built, and my buyers are driving by constatntly watching the construction.   

Oct 15, 2014 12:26 AM
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

Nicole Doty It must be a crazy ride in the Arizona market

David Shamansky It is very nice to see all the construction going on, hopefully some of it will be affordable housing for all these new college graduates

Joan Cox Good for them to be on top of it, it is exciting for buyers to watch the process and nice for agents to have some new construction closings lined up down the road.

 

Oct 16, 2014 12:40 AM