What Will I Pay for a Lockwood Glen Home? Buyer's Tips December 2015
- Properties currently Active on the market: 25
- Single-family properties closed in November: 4
- Average sales price: $471,665
- Average list price: $429,292
- Average sales price to list price ratio: 110%
- Average days on the market: 5
- Lockwood Glen absorption rate: 6.3 months of inventory (a normal or steady market would be 5-7 months, a buyer's market would be in excess of 7 months, and a seller's market would be less than 5 months)
What Should Buyers Know About Lockwood Glen in Franklin TN?
Lockwood Glen is in experiencing a normal market. Forty percent of the homes sold in Franklin during November were new construction. Buyers aren't finding what they desire in existing homes so they're turning to new construction. This demand is causing the prices of the new homes in Lockwood Glen to escalate which is why you're seeing homes selling on average for 10% more than list. Many of these homes are sold in pre-sale which accounts for the low days on the market. Buyers should recognize it may take 6 months or more before they can move into their new construction home.
Why Use a Buyer's Agent When Purchasing in Lockwood Glen?
One of the biggest mistakes buyers make when purchasing Franklin TN new construction homes is using the on-site agent for the purchase. This agent works for the builder and it's her goal to get the best price and terms for the builder.
Don't think you'll get a better price on a home because you went in unrepresented. The builders actually prefer buyers have their own agent and have included the agent's fee in their base price which isn't negotiable. They understand that the majority of their sales will come from local real estate agents.
I'm happy to report that 75% of November buyers used an agent. Good for them. They were smart buyers and protected their interest. Since the fee is paid by the builder, there isn't any reason to purchase without the assistance of a Buyer's Agent.
Franklin Homes Realty LLC Offers a Free Home Inspection to Lockwood Glen Buyers
We have worked with many buyers who have purchased new construction homes throughout Franklin. We have consistently been able to get them a better deal on a home than if they'd gone in without an agent. While builders aren't usually very negotiable on their base price, you still want an agent who may save you money in other ways.
Franklin Homes Realty LLC pays for a home inspection for you. This way you'll have a very detailed list of items to present to the builder for your punchlist. Most buyers only know of cosmetic issues. By having a home inspection, you can also be assured all the mechanicals are working properly. This is an added bonus to you when you use us as your agents.
When the time is right to buy your Lockwood Glen home, contact Franklin Homes Realty LLC at (615) 495-0752. Be sure to mention this blog post and the FREE Home Inspection*. We want to know all the ways buyers are finding us.
*Franklin Homes Realty LLC is offering a free home inpsection between 12/1/2015 to 3/31/2016 to buyers who use them as their buyer's agents to purchase a Lockwood Glen new construction home.