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Old 05-10-2012, 02:07 PM
 
7 posts, read 15,561 times
Reputation: 15

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Planning to buy a new home (newly built) in Parker in Meridian Estates. Any suggestions about the community or the things to look for. We are first time home buyers and looking for a nice community and found Meridian Estates and we really liked it.

Can we negotiate a lot on price? Lets say a 3000 sq ft (excluding unfinished basement) house asking price is 425k..how much we can negotiate and can we ask for free upgrades ? what is wise? Negotiating the price or getting free upgrades?

Any comments would be appreciated...Thanks in advance!!!
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Old 05-10-2012, 02:37 PM
 
Location: Just south of Denver since 1989
11,826 posts, read 34,430,278 times
Reputation: 8971
What does your buyer's agent say? You can ask for anything, but be careful that you are not marked as too needy and not worth working with.
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Old 05-10-2012, 02:54 PM
 
7 posts, read 15,561 times
Reputation: 15
My agent says he can get it for max 10k less from the asking price. I was so surprised that price negotiation is only 10k in Parker...we didnt talk much abt upgrades yet..will be meeting with him tomorrow..Before meeting with him I want to get an idea how much we can negotiate.

More details abt the new home...
  • Granite countertops in kitchen and master bath is standard
  • Wooden floor is standard
  • Recessed lighting in walkway and kitchen
Main upgrades includes
  • Tile floor on kitchen, walkway and family room
  • Coffered cieling in masters and dining
  • Bay windows in dining
  • Surround sound -pre wired
  • French door in study
  • Air conditioning
  • Covered deck
  • Covered patio
  • Finished basement
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Old 05-10-2012, 03:29 PM
 
Location: Berkeley Neighborhood, Denver, CO USA
17,709 posts, read 29,812,481 times
Reputation: 33301
Default $10K is good

The market in greater Denver is a sellers' market.
Inventory has dropped by 33% in the last year.
New home orders are increasing.
New home cancellations are decreasing.

All of this is 180º turn from one year ago.

The only unusual aspect of this sellers' market is that prices not rapidly increasing. What is happening is that houses are selling for asking or close to it as opposed to a year ago when buyers were getting 10% off.
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Old 05-10-2012, 06:19 PM
 
Location: RSM
5,113 posts, read 19,761,775 times
Reputation: 1927
I don't know where exactly that neighborhood is, but there are expansive soil issues in parts of Parker, so I would do some research to see if it will affect your new home.
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Old 05-10-2012, 09:44 PM
 
Location: Berkeley Neighborhood, Denver, CO USA
17,709 posts, read 29,812,481 times
Reputation: 33301
Default Not good news for buyers

LPS Home Price Index Shows U.S. Home Price Increase of 0.2 Percent in February; Early Data Suggests Further Increase of 0.3 Percent is Likely During March

"Our HPI shows an increase in seasonally adjusted prices this month for the first time since March 2010, and for only the third time in five years,” said Raj Dosaj, vice president of LPS Applied Analytics.
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Old 05-10-2012, 10:03 PM
 
1,227 posts, read 1,280,794 times
Reputation: 2000
Quote:
Originally Posted by bicky View Post
My agent says he can get it for max 10k less from the asking price. I was so surprised that price negotiation is only 10k in Parker...we didnt talk much abt upgrades yet..will be meeting with him tomorrow..Before meeting with him I want to get an idea how much we can negotiate.

More details abt the new home...
  • Granite countertops in kitchen and master bath is standard
  • Wooden floor is standard
  • Recessed lighting in walkway and kitchen
Main upgrades includes
  • Tile floor on kitchen, walkway and family room
  • Coffered cieling in masters and dining
  • Bay windows in dining
  • Surround sound -pre wired
  • French door in study
  • Air conditioning
  • Covered deck
  • Covered patio
  • Finished basement
A/C is an upgrade? That's so 1995.

Perhaps you can negotiate for a 90% efficient furnace and 13 SEER A/C, assuming the house isn't finished yet. Also, upgraded carpet in the carpeted areas. Or maybe a different choice of paint in some or all rooms. Walls and floors are relatively easy to upgrade, so you might be able to get some stuff thrown in "free."
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Old 05-11-2012, 08:00 AM
 
Location: Berkeley Neighborhood, Denver, CO USA
17,709 posts, read 29,812,481 times
Reputation: 33301
Default More data

Yes, it is an advertorial.

After rapid-fire sales of its affordably priced ranches, Latitude at Vista Ridge has only three golf-view sites left - The Denver Post

But, it also contains a nugget of data.

Quote:
How much better is this year's housing market around Denver and Boulder than last year's? Just ask builder Ward Ritter of Chartered Homes, who last week sold his twenty-sixth patio ranch for Year 2012 at Latitude at Vista Ridge -- equal to Latitude's combined sales for three previous years.
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Old 05-11-2012, 11:21 AM
 
Location: Born & Raised DC > Carolinas > Seattle > Denver
9,338 posts, read 7,108,703 times
Reputation: 9487
I too was a first time homebuyer when moving here to Parker last spring, and I live in Meridian Village. I'm not sure where we live in Meridian Village is different from Meridian Estates, but from your example price of $425 I'd say it isn't the same neighborhood LOL.

There are several builders here, and the prices range from anywhere between $250k - $400s. They're always throwing in deals such as free finished basement or $10,000 in free upgardes, etc.
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Old 05-11-2012, 11:26 AM
 
152 posts, read 323,588 times
Reputation: 54
I was so confused when I bought our home. The builder kept saying, free basement, in my head, free basement means free finished basement right?? no, it meant free unfinished basement. but that was a 27k free upgrade so it was worth it for us. plus if we upgraded certain things, we got another free upgrade.

They are no longer offer those incentives because houses are selling like hot cakes now.
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