High Days on Market Equals a Huge Price Reduction?

New Construction

I was talking with one of my new home builder sales consultants today. She related how several agents have been in with potential buyers and have commented that since the property has been listed for 120 days the builder should be willing to give the buyer a “huge” discount.

While I don’t really think that even applies to resale listings, it clearly does not apply to new home listings.

This particular property was listed while it was under construction and will not be completed until January 2012. The listing is correct in the MLS and we even have a comment in the property description letting potential buyers know that the property will not be ready until January.

“Days on Market” is not a public field within our MLS so it appears that some agents are simply searching by days on market, looking for “deals.” I would hope buyers agents would do a little research before coming out to the new home builder and demanding discounts!

My advice is to read the remarks in the MLS and don’t assume that higher days on market means a distressed seller willing to take a loss. This builder’s homes are selling fine and he rarely has any “spec” homes lying around.

High days on market does not equal a huge price reduction.

Tom Branch, Broker, CDPE, SFR

Price Increase at The Enclaves at Willow Crest

Enclaves at Willow Crest Townhomes

CB JENI Homes, the builder of The Enclaves at Willow Crest, has announced a price increase on all townhomes effective January 1, 2012. The base price of all floorplans will go up by $3,000.

Home currently under contract will not be impacted and any contracts executed prior to January 1st will also receive the old pricing.

See all Townhomes for Sale in The Enclave at Willow Crest.

Contact us at 214-227-6626 for more information on builder incentives or to schedule private showings.

Photo Copyright 2011 Imaged2Sell


New Home Rebate

Purchase a new home through us and we'll help you with your closing costs! We'll give you a credit of 1.5% of the price of the home at closing to use towards your closing costs.

Click here for our New Home Rebates page.

Plano TX Home For Sale 3925 Sagamore Hill

3925 Sagamore Hill Front

A rare opportunity! This single-level custom home with pool and spa has 4 bedrooms, 3 bathrooms, 2916 square feet of living space (per tax) and a three-car garage. This home sits on a quiet cul-de-sac in sought-after Estates of Forest Creek. Click on photos for larger views.

3925 Sagamore Hill Living Room

The main living room is light and bright. Plantation shutters cover the wall of windows that let in plenty of natural light. The centerpiece of the room is the wood-burning fireplace with gas logs.

3925 Sagamore Hill Kitchen

The gourmet kitchen is a cook’s delight. Notice the Brazilian cherry hardwood floors (this flooring continues through most of the main living areas of the home). There is plenty of storage space and the granite countertops compliment the custom cabinets. There is a smooth cook top, double ovens, dishwasher, microwave, and a trash compactor.

3925 Sagamore Hill Master Suite

The master suite is located at the back of the home and split away from the secondary bedrooms and the guest suite. The room has Brazilian cherry flooring, plantation shutters, and a double trey ceiling. The suite overlooks the backyard pool and there is access to the pool & spa area.

3925 Sagamore Hill Master Bath

The oversized master bathroom has everything! There are dual vanities, double-sized shower,  jetted tub, and a huge walk-in closet. A skylight lets in natural light.

3925 Sagamore Hill Pool and Back Yard

Imagine yourself enjoy sunmer afternoons relaxing in the pool or slipping into the spa and letting the swirling water wash away a hard day at work. The covered back patio is perfect for entertaining.

More details, current pricing, photos, virtual tour, and status

Video Tour of 3925 Sagamore Hill Ct in Plano, TX

Please contact us at 214-227-6626 for more information or to schedule private showings.

Source: NTREIS | Photos and Video Copyright 2011 Imaged2Sell

McKinney TX Townhome For Sale – 5612 Rowlett Creek

5612 Rowlett Creek Front View

Fantastic single-level new construction townhome for sale in Craig Ranch, McKinney, TX. The Natalie model has 2 bedrooms, 2.5 baths, and 1807 square feet of living space according to the builder’s plan. Note the photos are of a Natalie but not the actual unit which is currently under construction. Click on any photo for a larger view.

5612 Rowlett Creek Kitchen

Gourmet island kitchen has loads of storage space, granite counters, custom backsplash, stainless steel appliances, and a large pantry.

5612 Rowlett Creek Living Area

The oversized living area has a wall of windows to let in the light and a gas fireplace. Flooring options include carpet, ceramic tile, or hardwoods.

5612 Rowlett Creek Flex Room

The Natalie offers an additonal room which could be used as a formal dining room, a formal living room, or an office.

5612 Rowlett Creek Backyard

Imagine yourself enjoying your morning coffee on the covered porch or entertaining guests in the fenced back yard.

Current Pricing, Floor Plans, and Additional Photos

Video Tour of 5612 Rowlett Creek

Contact us at 214-227-6626 to schedule showings or for more information on this McKinney TX townhome.

Photos and Video: Copyright 2011 Imaged2Sell

New Home Rebate

Purchase a new home through us and we'll help you with your closing costs! We'll give you a credit of 1.5% of the price of the home at closing to use towards your closing costs.

Click here for our New Home Rebates page.

Mortgage Fees Would Rise Under Payroll Tax Cut Deal

Homebuyers, beware. 

In exchange for a two-month tax cut, the Senate on Saturday approved a permanent increase in fees attached to mortgages backed by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA). 

Read more: http://www.foxnews.com/politics/2011/12/17/mortgage-fees-would-rise-under-payroll-tax-cut-deal/

Carrollton TX Home For Sale 1208 Noble

1208 Noble Home For Sale

Wow! This 3 bedroom, 2 bath Carrollton Texas home has 1418 square feet of living space and sits on a huge lot. The carpet is brand new (installed in December 2011) and the home has been freshly painted. Click on images for larger views.

1208 Noble Kitchen

The clean, bright and open kitchen has lots of cabinet space, an electric range, and recent dishwasher.

1208 Noble Living Room

The large living room has plenty of room for larger furniture.

1208 Noble Master Bedroom

The master bedroom sits in the rear of the home and is split away from the other bedrooms.

1208 Noble Main Bath

The main bath services the two secondary bedrooms and guests.

1208 Noble Back Yard

Imagine yourself entertaining on the open patio while your guests enjoy the large fenced backyard.

See a Video Tour of 1208 Noble, Carrollton, TX

See current status, details, more photos, and pricing.

Contact us at 214-227-6626 to schedule showings or for more information on this Carrollton TX home.

Photos and Video: Copyright 2011 Imaged2Sell

House Flippers to Blame for Housing Downturn?

Carpet InstallationHouse flippers — made up of investors who bought up homes during the housing boom, possibly made a few upgrades to the home, and quickly resold the homes for high-dollar profit — played a larger role in causing the housing bubble than previously thought, according to a new federal report out by the Federal Reserve Bank of New York. The impact that speculative real estate investors played in driving the housing downturn has mostly been overlooked until now, the researchers note. 

The speculative investors used low downpayments and subprime credit in buying up multiple homes at once, the report says. Their actions attributed to home prices in some areas being inflated, researchers say. 

House Flippers to Blame for Housing Downturn?

Source: “Flippers’ Housing Bust Role Larger than Thought,” The Associated Press (Dec. 12, 2011) via NAR