new construction: Gunston Cove-New Developments Just Minutes to Lorton & Fort Belvoir
- 07/07/09 02:17 PM
A few years ago new homes in Northern Virginia flew off the market. Buyer's camped out so that they could grab a great lot or a lottery number for a future section. Builders were in control and buyers happily paid what they asked. Then the market changed and builders were hit hard. Some local builder's lost properties to foreclosure and others just left projects half completed.Today in our area new construction projects are moving again and developments are seeing a resurgence of buyers. New incentives, pricing and amenities are bring buyers back again. In Lorton (VA) the delayed Gunston Cove developments … (6 comments)
new construction: Prince William County New Construction-Don't Go It Alone
- 07/01/09 11:44 AM
On a regular basis I tour new developments in Prince William or Fairfax County. I also check in on developments that have been under construction for a while to see what has been done and how pricing has changed. Today was a follow up day with a new development project in Prince William County. It was apparent that the neighborhood has come a long way since I took my first look two years ago. The club house and amenities are in, the grounds are fantastic and the streets are all paved. One of the things I've learned with new construction projects … (0 comments)
new construction: Ground Breaking for September Deliveries in Port Potomac in Prince William County
- 05/27/09 10:44 PM
Ryan homes is starting construction of the next section of Port Potomac and September deliveries are now selling.The new home models being offered have some changes over the previous homes in the community. Ryan homes is no longer delivering the detached garage option that you will currently find on a number of the models. In addtion a new ranch style model, Springbrook is being introduced. For families looking for a first floor master bedroom option the Springbrook model could be just the ticket. With a split floor plan the master suite still overs privacy from the two other bedrooms on … (0 comments)
new construction: Getting New Construction to Closing-A Daily Challenge
- 03/04/09 11:26 AM
One of my listings is actually 15 listings in a waterfront condominium building. Sales have picked up since the beginning of 2009 but getting them to closing has been more of a challenge.It has nothing to do with the buyers deciding to pick up a walk away from a deal, it is the lenders continuing to move the bar. With the new underwriting requirements and the fear that new construction, especially condominiums are toxic the hoops are unbelievable. Our first two deals of 2009 closed without a hic-cup but the next three have been caught in an endless loop.Condo questionnaires, condo … (11 comments)
new construction: New Construction in Prince William County-How are the Builders Doing?
- 02/13/09 09:38 AM
It is just another one of the many questions that a buyer looking at new home construction today has to conside. Buyers wandering through beautifully decorated models may be swayed to overlook a few critical questions about the development and the developer.When the real estate market was red hot a few years ago many buyers camped out to try and get their number one lot selection in developments sprouting up all over Prince William County. Many were fortunate to snag just the lot and the model that they wanted. They patiently waited for the foundations to be poured and the walls to … (0 comments)
new construction: Will the Builders Financial Woes Become Yours Too?
- 08/27/08 08:46 AM
On the heels of my post "Will the Builder Deliver What they Promised" comes a Washington Post article on local builder Comstock Homes and their financial woes. According to the article "Comstock has received notices of default or demands for repayment from five lenders over the past two months, according to filings with the Securities and Exchange Commission. The company owes the banks about $86.5 million, according to the filings." Read the full Washington Post article here. This news is never good for a builder or their shareholders and it is unnerving for a buyer who has just settled on a new home in a … (5 comments)
new construction: Will the Builder Deliver What They Promised?
- 08/24/08 11:46 AM
It is just another one of the many questions that a buyer looking at new home construction today has to consider. As a buyer wandering through a beautifully decorated model you may be swayed to overlook a few critical questions about the development and the developer.When the real estate market was red hot a few years ago many buyers camped out to try and get their number one lot selection in developments sprouting up all over Prince William County. Many were fortunate to snag just the lot and the model that they wanted. They patiently waited for the foundations to be … (4 comments)
new construction: Builder End of the Year Real Estate Madness
- 12/15/07 11:50 PM
In Northern Virginia the end of the year real estate madness is in full swing. Builders are pushing to get their inventory closed before they have to balance the books for 2007. For the third year in a row I have builders pressing my clients to “get to the table” now instead of waiting for our scheduled closing dates in January. Having made the mistake once myself on a personal new home, it easy to see how a buyer can be over-whelmed by the hard sell to close. This year builders are pressed even more and with the increase in the … (3 comments)
new construction: A Tale of Three Houses in Northern Virginia
- 11/29/07 12:54 PM
This isn't a story about the three little pigs and since all of the houses are brick you don't have to worry about them being blown over. Instead it is a story about choices that buyers in today's market have to consider every day. All of the houses are in the same Northern Virginia neighborhood.The first house is new construction. When you walk in the door of the model you can't help but be impressed. With granite counters, hardwood floors, soaring ceilings and much more it is everything today's homebuyer could ask for. The builder is offering the "deal of … (5 comments)
new construction: HarborSide-Waterfront Luxury Condos in Prince William County
- 11/17/07 03:52 AM
Would you like to wake up in the morning and look out over the water? Do you want to leave the worries of taking care of a yard and all the maintenance of detached home behind? If you would then you are ready to check out the latest luxury waterfront condo project in Prince William County. Overlooking the marina and Occoquan River in Belmont Bay, HarborSide is latest development project by EFO Capital Management in Belmont Bay. Previous projects included the two waterfront Harbor Pointe condo buildings and the nine-story Harborview the only luxury high rise condo currently in Prince William … (3 comments)
new construction: The Value of Talking to the Neighbors
- 10/07/07 12:13 PM
Today was a follow up day with a new development project in Prince William County. It was apparent that the neighborhood has come a long way since I took my first look two years ago. The club house and amenities are in, the grounds are fantastic and the streets are all paved. One of the things I've learned with new construction projects is to not only take a look at the furnished models, spec homes and amenities but to let my buyers talk to owners to get their feedback on living in the community. So we stopped in to the community center … (6 comments)
new construction: Builders Pulling Out all the Stops-Eagles Pointe in Woodbridge VA
- 09/17/07 01:39 AM
This weekend was the local builders shop till you drop weekend. As I penned on Friday the builders were going all out to get buyers to their doors. I had buyers out Saturday at one location and Sunday at another. There wasn’t any doubt the builders were offering financial incentives to get the buyers to the table and putting the hype in over-drive to make them feel that this was going to be the last chance to get the “deal of the century.” Since we are early in the 21st century it might be a rather tall statement to say this … (3 comments)
You can't help but hear the screams of desperation coming from around the area. Fortunately I am out with buyers this weekend looking at new construction in Prince William County so hopefully we will be able to scoop up one of the good deals. One of my favorite new builder sales representatives sent me 3 invitations to events and if I play my cards right I … (7 comments)
new construction: Let's Make a Deal
- 09/06/07 12:22 AM
In today's email came more price reduction notices from local builders about developments in Fairfax County, Prince William County and Stafford County. Both builders are offering prices that are 10% off the "list" price. As I said in a post yesterday The Ah-Ha Moment 10% can just be the starting point for negotiations. Builders are not interested in carrying excess inventory into the winter months. Though they may have more financial backing to be able to hold on for longer than an individual seller, they also have stockholders and financial institutions who are very interested in their bottom line. Builders are especially … (3 comments)
new construction: The Ah-Ha Moment
- 09/04/07 04:25 AM
At a neighborhood get together over Labor Day weekend the conversation turned to real estate. We have some new neighbors who are renting and they mentioned that they had been trying to decide whether to buy or wait. As the conversation continued they mentioned that they had been looking at some new construction projects and there was one home that they might consider. However the price was more than they wanted to pay, close to $600,000 so they decided not to make an offer. Of course I had to ask did they have an agent and what development had they been … (3 comments)
new construction: A Letter to Builders Everywhere!
- 08/31/07 07:30 AM
Dear Mr or Ms. Builder, Do you have excess inventory that you would like to sell? Great! I have a buyer who is interested in making an offer on one of your completed homes. We have toured the area and know that you have a number of properties available that meet their needs and we noticed a number of other builders in the area that also have inventory as well. My clients are particularly interested in your home, which I hope is good news to you. My clients are working professionals and already have plans for this weekend so we would like to … (6 comments)
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