Builder deals? Reputable builders? (Carmel, Westfield: comparable sales, sales, 2010)

[oscney]

I tend not to get replies to my posts... Not sure why... But I will try again on a new topic!

Someone mentioned that certain builders have amazing deals going on right now, but no specific companies were mentioned. Can anyone tell me the names of builders who are having these crazy deals. When I just go to the main websites for the builders I know of, I'm not finding these deals clearly advertised.

Also, any additional comments on which builders to go for? From polling co-workers, my running tab is as follows--
GOOD: Estridge, Ryland, Hansen & Horn, Drees
BAD: M/I, Beazer, Arbor
Any other input on who is reputable and who to stay away from?

Thanks!

[MikiJayne]

I'm surprised by your "Bad" list. I guess everyone has their own opinions though. One thing most people don't know about Beazer is that they also do higher end things, and are doing some really cool "Smart Features" right now, plus giving free unfinished basements.

Drees is another that I particularly like, they do a really nice job and work well with everyone.

Really, all that you mentioned, even in your "bad" list are in my "good" list. I guess the big questions are what are you really looking for? Where? Price range? Etc. Once you have an idea of what you want, your Realtor can help you pick the right builder, community, and even help you with lot selection and features if you want the help. The biggest thing a Realtor will do for you in a new build is stand by your side in case of any "Miscommunications" with the builder.

[scott326]

I agree with MikiJayne about your list of Bad builders being good builders, but if you don't like them, thats ok.

Here are a few things that I can think of off the top of my head that builders are offering:

Estridge: Free living until 2010, they pay all your housing expenses until 2010, including mortgage, HOA fees, utilities, taxes, and insurance.
Arbor: They will pay your mortgage payment for six months
Ryland: Heavy discounts on homes, around 20,000 to 30,000 off the prices listed online.
Centex: Promotions are always changing, check with the specific neighborhood
C.P. Morgan: $7,500 to $20,000 in free options depending on neighborhood

Also, for all the builders, its a good idea to look for their "spec" homes that are currently being built or are ready to move in. These brand new homes are heavily discounted off what you would pay to build it. You can save so much money that way.

Those are just some of the promotions, I dont work for the builders so this is not guaranteed. I hope this helps!

[bhappy0675]

I am in my mid 30s and was thinking about purchasing a townhouse at Stanford park as a first time home buyer. They are advertised by Ryland as being in Carmel, IN, but when you actually see the paperwork, they have a Westfield address. The salesperson pointed out comparable sales to me saying "this one sold for $160K and that one sold for $170K." pointing to adjacent townhomes. He had mine priced at $157K in mid 2009. I drove to the assessor's office and discovered the last 5 units in the complex sold (brand new) for prices inbetween $117K and $122K! The comparable properties he pointed out to me were over 2 years old when the market was at its peak. I had questioned his comparables before I went to the assessor, and he said that people indeed were paying that much because it was Carmel. The properties are in the Carmel school district, but an appraiser can't compare Carmel addresses to Westfield addresses. My point is that these people will stomp all over the truth to make a sale. Don't trust appraisers either. Most are friends with the mortgage brokers and inflate values to keep business from the mortgage broker. Do your own homework. Go to the assessor's office and let the lovely women there help you find out how much properties in a neighborhood are currently selling for.

[landlocked60]

FYI: Assessed value and market value are two very separate things! The assessed value is what your taxes are based on, and almost always (if not always) is considerably less than the appraised/market value of a home. My advice is when looking at homes always make sure you get recent comps (sales in the past 6 months). From your list of builders, I would stay away from Ryland. I looked at re-sale homes in a new Ryland subdivision that were not even a year old, and the stairways were pulling away from the wall and there were gaps on the the walls (they were not sealed properly). M/I and CP Morgan are BAD vinyl villages - I would never buy one of there homes no matter how many incentives they would offer me! Dree's is probably the best semi-custom builder on your list.

[MikiJayne]

What have you decided to do? Which companies have you checked out?
I would suggest that whatever you decide, you research the company online before making a decision, and that includes checking out consumer reviews and blogs and such.