I am finally feeling vindicated- I have proof now of what the builders are doing !! Saville in Windemere had posted 2 properties on the MLS that I had been following for sometime.One was on Fenwick Way priced on the MLS for $835,800, a plan 2 and another one on Enfield Street, a plan 4 at $859,000.Well here is what they sold for: $726,065 and $748,487 respectively !! The bigger home sold for $350.08/sq ft and the smaller home sold at $371.96/ sq ft.I said in my last post that the plan 4 should go around 740K and now I am so glad that my prediction was right.Looking at percentages, these homes sold for 87% of the listing price and in my opinion there should have been more room for negotiation.
Looking into the county recorders sales figures over the last 5 months at Saville, their prices have been coming down steadily. The average drop seems to be 13K with every months sales.Herein lies the question- how would I purchase this home? At $371.96/sq ft too, this home is expensive.With no backyard done, no upgrades included by the time you are finished you will be spending another 20K on top of your price.The bigger homes at other communities are selling for cheaper per sq ft value.Do your due diligence by researching prices of sold homes before you get carried away and make an offer that the builder will love.
I also looked into county records for Campton and found this information:
November 2007-2 houses on Paddington court for $751,500 and $809,500
December 2007- 2 houses on Paddington for $816,000 and $976,000
January 2008- 1 house on Paddington for $801,500
February 2008- 1 house on Wimbledon court for $935,500
March 2008- 1 house on Wimbledon court for $824,500
May 2008- 3 houses on Wimbledon court for $726,000,$765,000 and $820,000
Now, I cannot tell by county records which were the plans but it does give you a general idea on how the price curve has come down.So, please think carefully before you make your offer.If you want further details of price variants in other communities in Windemere, please email me or call me.I have also updated statistics on my site on price graphs and trends in San Ramon, so please do take a look at them.
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Rama,
Thanks for these updates - you're helping many folks avoid builders' pricing/over-pricing and bargaining stunts. Buying a new home from some of these folks is like buying a used car these days.
Brookefield's Campton in particular seems to be way overpriced!! Lennar seem to be willing to be realistic, and have way better options as standard. Overall, I am much more inclined to think positively about Lennar than any of the other builders there.