New construction in Apopka (Sanford, Ocoee: sales, HOA fees, mortgage)

[AaronS]

Hi,

My wife and I are looking to purchase a new home in the next coming months, and we're very interested in a development called Emerson Park (built by Centex) in Apopka.

Right now we live in Sanford, but my wife works downtown and we're trying to find a place that is in between our two jobs. Is Apopka as bad as it seems? The development is closer to Ocoee than downtown Apopka. Is it a bad idea if we move there? What are the schools like?

Also, can we negotiate with new construction? They seemed pretty desperate when we were talking to them. I've heard about free upgrades and incentives, but can you haggle the actual sales price of a new construction home?

Thanks for your help!

[cfIfan]

Apopka isnt a bad area, there are a couple of others i would recommend simply because they have great access. You will generally find in terms of negotiating with builders, that if they havent already included things like Upgraded counter tops you may be able to get this, and you can negotiate with many 3% towards closing costs. Most now have discounted the heck out of the price so it is unlikley you can negotiate much if anything on price.

[mdesler]

Just posting to say that my wife and I are also looking into this development. Has anyone had any success in negotiating upgrades with this builder? I know we probably won't have much leeway in the base price, but some options seem overpriced, and I would expect that there is a fair amount of wiggle room.

Also, does anyone have any experience with the area? The schools aren't the best, but are they really that bad? Thanks!

[cfIfan]

Putting in upgrades through the builder in terms of pricing depends entirely on the builder and if the home is a to be built or inventory. Typically in this market if the home is a to be built then there is not much wiggle room at all. Of course the builder wants to sell the home but if its not one they already have in their inventory which they need to get rid of then keep in mind the 3% towards closing, some are offering 6% i have seen, add to this other incentives for example the tax credit which has now been expanded to people who already own a home and meet set criteria, and of course ship for first time home buyers, then there are some incentives and some builders will offer some other incentives.

Just to give you an example there is one particular builder who is very aggressive with their base price, however everything is an upgrade. It is in these upgrades where this builder makes their money and unless the home is in a community where sales are stagnant or they have an inventory you wont see much of a decline.

Also keep in mind though that the price does need to be reasonable because if the property doesnt make appraisal then the sale wont go though at that price.

Good luck

[Phirenzic]

As for Apopka schools, I don't know what ones the neighborhood is zoned for, but you may want to seriously consider charter or private schooling if you live out there. If you go the private school route, I would factor that in to your budget for your home. $5000 a child per year can quickly eat into any cost savings you might get from buying in Apopka rather than a town with an A-rated school system.

[Broker Dave]

There is a strategy to getting your best deal.
Inventory homes they tend to have the best deals; if you use their mortgage company for the loan they will give closing cost from 3%, 4%, 5% to 6%. They already have all the upgrades in the inventory homes and due to internal math will not change anything but I have been successful in getting 1 to 2 years HOA fees paid or any other special fees for the community.
Now the new builds if you can wait they work a bit with upgrades.
Hope this helps!

[GregTraub]

From what I've seen over the past few years, the builders seem desperate because they have to be. I simply have not sold a new construction home in years because my cleints have always found a MUCH better deal with a nearly new re-sale home.....even with all the incentives you can negotiate with the builder.

The market is starting to change though so who knows. In any event, If looking around Emerson Park area, there are a ton of newer neighborhoods around that area to look at with homes only a couple of years old. Check them out before making the decision. Unless you are set on a brand new home no one else has lived in, it's at least worth a look.