House buying in area

[KrisluvThreePrinces]

2bindenver,

Where are the best buys for new construction? Do any new homes have finished basements?

[gpraceman]

I think I heard of some builders doing finished basements as an incentive. Usually the basements are not finished, so you hire your own contractor or do it yourself.

I've seen some really poorly done finished basements, so you do have to be careful who finishes it and ensure that the layout makes the best use of space. Come time to sell, buyers really are turned off by a poorly done basement (at least I was).

[2bindenver]

yes, there are several builders today offering new homes with finished basements. Village, DR Horton, Pulte to name a few. When builder finish basements they come with matching carpet, builder quality finish...but you pay for the profit to the builder too! It is cheaper to buy the house and contract to finish it later. (Keep the stuff you would stuff in your basement in a pod or container.)

There is no "best buy" in general. How you can negotiate a deal depends on several factors: how good is your credit? How soon can you close? how many other houses are 30-60-90 days from completion are still unsold? Is the development just starting? a third built out? halfway finished? near closeout?

In looking at the competition, and in consideration of your wants and needs (location, bedrooms, size, yard, schools, commute) a "best buy" can be identified, and acquired.

It is most helpful to a new home buyer to have a second choice in another subdivision. If price is the number one factor in buying a home, choose a skilled negotiator who can help project you as being carefree, even when every fiber of your being is screaming to "take the deal!"

Real estate is a game. I play by the rules (laws) and I play to win. Last year I negotiated over $100,000 in concessions on one house! I love my job

[gpraceman]

2bindenver,

Your stats were for Dec '06, do you have the same stats for all of '06 (Lone Tree/Highlands Ranch, Douglas Elbert Parker, Douglas County West)?

I'm interested to see how HR stacks up to other nearby areas, in terms of time on market, average sold price, and list to sold price. My impression is that HR does a bit better (from a sellers perspective) in terms of less time on market and getting closer to asking price, so it would be interesting to see if that is correct.

My CA friend is finally moving his family out here at the end of this month and he may be interested in that data as well.

[2bindenver]

Both are in pdf format. You can get the free reader at www.adobe.com, if you do not already have it.

e me or pm me as the files are too big to upload to c-d.

[Mike from back east]

....we wanted an FB, and our agent found us several builder's in Co Springs that did FB's.... A lot of the lower cost builder's we looked at in the Loveland area did not do FB's so we nixed the north side of Denver and went to COS, our first choice anyway, but wanted to see other parts of the area....we looked at Greeley, Fort Collins, Loveland....other states, you name it...

We wanted nothing to do with finding a sub to do the FB job after we moved in....we didn't want the mess....we didn't want the job of finding a good firm.... we didn't want to be on our OWN in such a search...

Our desire was to find a great HOME BUILDER and let them do the whole job, from dirt on up, then we move in the house and enjoy the house from day 1.

Keller Homes did that for us.... fully excavated a basement under the entire living area, and a fully finished basement... with a huge great room plus 2BR and 1Bath, plus a fireplace, plus 9-foot ceilings, lots of can lights, sound system, plus a full bar with sink, fridge, diswasher, cabinets and corian bartops all around. We spent a full week here in March 2005 picking all that stuff out for upstairs and the basement of our ranch-style home (tile, colors, carpets, fixtures, windows, doors, bookshelves, appliances, plumbing items, lights, electronics, etc). Spent most of 3 days at the Keller design center plus 1 day each with the electrician, lighting store, home sound/electronics systems guys...and for us it was a great experience....

Sure it may cost a few bucks more, but at age 58 and with no experience doing the work, and no walkout basement to lug all the stuff in.... we went ahead and had Keller do the whole job for the FB. So VERY glad we did.

If you're young, energetic, skilled, knowledgeable of the whole process and are fearless with contracts, okay do it yourself or sub it out, but our advice is find a builder who will do it all....it can't possibly cost that much more, they gotta stay competitive.

Just be sure to get a good homebuilder. A buyer's agent that specializes in new homes will know who the good ones are and who to steer clear of. Moving from VA to CO, we didn't know any of these builders here. Our agent did. She is now just about our BEST friend....and what a live wire she is....wish I had just HALF her energy....

s/Mike from back east

You're gonna LOVE Colorado

[gpraceman]

2bindenver,

Thanks for the '06 stats. If I am reading it right, I was correct, at least in that homes in HR move faster (64 days avg) compared to Castle Rock (118 days) and Elizabeth/Parker (104 days). It looks like all of DC has a % of list being 98%. Is it the amenities and location (closer to DTC/Denver) that would account for this?

[2bindenver]

Amenities, good schools, proximity to work & shops, transportation, infrastructure, taxes (sales & property), average income & education level all play factors in establishing fair market value.

For the most part it is pure economics. Supply & Demand.