New townhome communities?

[alpha0meqa]

Yeah exactly. I don't like that at alllll. Especially since the girlfriend is all lovey dovey with pretty cabinets,,,,,,flooors......etc

[kelly237]

Originally Posted by evaofnc

We got a house with a 2-car garage and mostly wooded lot (means less mowing) for $165k.

Okay..I have to know.. Where did you find that type deal ??

[evaofnc]

East Cary. It's a buyer's market out there right now!

[VickiR]

Originally Posted by ncbeckster

The prices on new homes are somewhat misleading as once you add all the options in the house will be more than adverised. There might also be promotions and you can always negotiate the final price in your offer.

When buying new construction in this area, NEVER PAY FULL PRICE!

Do not buy from the onsite agent, who works for the builder, not you.

You should have a buyer's agent to check what other Realtors have negotiated for their clients. Your agent can also find out what incentives are being offered and negotiate on your behalf, as well as what closing costs are being paid and if the lender's rates and fees are out of line with what is customary in this area.

Many builders start out with a base price and then you add in your options.

Don't be confused by the sign that says "homes starting in the $200's". You won't get that price unless you can live without any options. You should ask "what is the average that folks add in options". It can be anywhere from 10% and up. So...if the home is $200,000 and you are adding 10% in options, your final price will be $220,000.

Sometimes not knowing will cost you greatly.

Vicki

[alpha0meqa]

Great info Vicki and that seems like exactly what I went through with my first inquiry

[jperryrocks]

Do not buy from the onsite agent, who works for the builder, not you.

You should have a buyer's agent to check what other Realtors have negotiated for their clients. Your agent can also find out what incentives are being offered and negotiate on your behalf, as well as what closing costs are being paid and if the lender's rates and fees are out of line with what is customary in this area.

Sorry, but I disagree. Anybody can look in the wake county website and see what your neighbor just paid for their house. It's not rocket science. You can negotiate a deal on a house and not have an agent.

This wasn't my 1st Rodeo as they say.

Agents can be an valuable help for a lot of people and I'm not anti-real estate agent. But I know that the builder has to pay the agent 2-2.4 commission. If I'm smart enough to represent myself, I can pocket that extra money as there is no agent to pay.

I got the builder to throw in all the applicances, washer dryer, frig and knock off more money on their sale price. I paid one of the lowest prices out there for an end unit townhome, and did it all myself.

The on-site rep I dealt with there was very nice to work with. I've been in sales over a decade and was comofortable dealing on my own.

Some people need some help and it might be wiser for them to get an agent.

[meanieme]

Originally Posted by jperryrocks

I ended up @ Inside Wade right across from the PSNC arena. It's getting built up quickly and they are putting up (and selling) townhomes at a record pace. I've heard it's one of fastest selling communites in the entire triangle.

What do you think the draw is with Inside Wade? And why did you decide there? Just curious since I drove around that community last weekend. It's nice construction and variety of exteriors no doubt. But properties seem too close, location is kind of off (buried in the back behind some office buildings), and prices started in the high 200s.

[jperryrocks]

Inside Wade has a pretty cool vibe to it.

I rented a condo downtown before that and wanted to be closer in. Some people don't like how the houses are so close together, but I bought one of the attached ones, so it didn't effect me.

Location, Location, Location as they say.

I was also impressed by how fast they were putting sold signs up. It gives a buyer a better sense in this market when other people are not hesitating and signing up.

The amount of closings there in the past 6 months is pretty incredible. Lennar is an "all in" community, and I didn't get nickled and dime for every option. Most all of the townhomes are built with hardwoods on the entire main level, granite in the kitchen, etc.

Mine was already built and they were dealing on inventory homes. I went in on a Sunday and made an offer about a week later.

My other top choice was with Standard Pacific over in B Creek. They were very nice, but couldn't get the floor plan I wanted.

[VickiR]

Originally Posted by jperryrocks

Do not buy from the onsite agent, who works for the builder, not you.

You should have a buyer's agent to check what other Realtors have negotiated for their clients. Your agent can also find out what incentives are being offered and negotiate on your behalf, as well as what closing costs are being paid and if the lender's rates and fees are out of line with what is customary in this area.

Sorry, but I disagree. Anybody can look in the wake county website and see what your neighbor just paid for their house. It's not rocket science. You can negotiate a deal on a house and not have an agent.

This wasn't my 1st Rodeo as they say.

Agents can be an valuable help for a lot of people and I'm not anti-real estate agent. But I know that the builder has to pay the agent 2-2.4 commission. If I'm smart enough to represent myself, I can pocket that extra money as there is no agent to pay.

I got the builder to throw in all the applicances, washer dryer, frig and knock off more money on their sale price. I paid one of the lowest prices out there for an end unit townhome, and did it all myself.

The on-site rep I dealt with there was very nice to work with. I've been in sales over a decade and was comofortable dealing on my own.

Some people need some help and it might be wiser for them to get an agent.

If you feel like you can do it all by yourself, great.

However, there are some incorrect comments in your response:

1. Everyone CAN look at Wake County's website to see what another buyer paid for the home BUT that doesn't show what the seller paid in closing costs (anywhere from $2,000 to $6,000) nor does it show the incentives the previous 5 buyers received. How would YOU find that information?

2. The commission paid to the buyer's agent has NOTHING to do with the incentives the buyer receives. The agent's fees plus the developer's fees come out of an account called a marketing account. So...even if there is no buyer's agent involved, those funds do not come to the buyer.

ANYTIME I've heard of a buyer asking for 2.4% off (because they didn't have a buyer's agent), I've gotten more than double off for my buyers). How do I know this? AFter all is said and done, the neighbors talk. I'd be willing to bet that if you compare what you got versus what your neighbor received (with the help of a buyer's agent), your neighbor received more in incentives or closing costs. But maybe in your case, you did alright. And you are happy with what you got so you got a great deal.

3. Sometimes from contract to close, there are NO problems. Great. But...if there is a problem, who will assist you? Yes, the onsite agents want happy buyers but they REALLY want happy Realtors! Who brings them the majority of their buyers? Realtors!

So...for those that don't want to use a buyer's agent, fine. For those that do, fine. I'm merely pointing out that in some areas, builders won't negotiate. Here, they do but you need to understand how it is done.

Enjoy your new home!

Vicki