Good Idea to Paint Builder Cabinets after Closing in New Build Home?
Tanisha
6 years ago
last modified: 6 years ago
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Building a new house - value after building?
Comments (28)In our small town in Arkansas, builders are building spec houses that are selling well. However, the houses are more modest than in the past, though still nice, and price points are lower. In our second home ski-resort town in Colorado, its a bit different. True, that this is a unique market being a resort and has a mix of second-home owners and full time residents. The high-end spec. homes were in the 4-7.5M range in the boom. High end spec. duplexes in the 2-5 million range and high end condos in the 1.5-2.5 million range were being built in the boom. This inventory is slowly getting absorbed, but with some faily significant price reductions, especially for the condos). Now the few spec residences are at a more modest scale and lower price points. Only a very few of the higher end(now about 1.4-2.4M) spec. homes/duplexes are in the building and/or permitting phases in prime locations. No condos are buing built, but one developer is building a new apartment complex (instead of condos as originally planned) for long-term rentals and a fabuoulous senior center is winding its way through the permitting process. So at least there is some building activitiy. One builder however appears to be having some success with $220,000 to about $350,000 single family homes in a nearby "bedroom" community about 20 miles out. He bought the entire subdivision from the bank after it had been foreclosed and is now building more affordable housing. In the middle of the boom, the city approved several subdivisions in prime (very prime) mountain areas very near the base of the ski-mountain. One of those subdivisions of 62 lots announced that it was 100% "pre-sold" in the fall of 2007, with waiting lists. Prices ranged from about 450,000 for a .15 acre lot to around 1,200,000 for a creekside lot just under an acre. After all the infrastructure was in place, in May of 2010, 51 lots remained unsold and prices were slashed in half. At that time, a local builder was quoted in the paper as saying that this meant that a 3000 sq ft. home on one of the smaller lots could probably be built for just over 1M. Since that time, 4 lots sold to one local long-time investor, for an additional approx 10% off the already prices. This summer another 30% discount off the reduced prices (making it 65% of original asking) was announced. Five lots quickly went under contract, but four (all creekside duplex lots, I think) have already dropped out. A hedge fund bought another smaller, well located subdivision on the golf course from the bank about 6 months ago and cut the prices in half. No sales yet. I think this tells us (1) land prices haven't bottomed out and (2) until they do (and more remaining inventory is absorbed) there probably won't be any significant spec activity....See MoreBuilding a new home. Need Good quality windows
Comments (22)my clients have selected ...Andersen PVC clad Woodwright Against your better judgement?? The only manufacturer I've bought more than one set of windows from now makes only vinyl and vinyl clad. (Used to make aluminum clad.) The last custom I built, the owners went vinyl. Couldn't resist the savings. (And I learned my opinion when it differed from theirs was not worth expressing.) What will happen to the probably finger-jointed wood frames once the "maintenance free" vinyl goes brittle?...See MoreNew Build - Questions for Builder Before We Sign a Contract
Comments (133)@Rai Kai … I did learn so much!! Thanks for your contributions! @Beckysharp haha. I will be doing more research with the lawyer. I think overall my realtor was good—but I am not sure if overall we were the right fit. We will see if we stick with her. I know she put a lot of work and time into it --- so I do feel bad about us not going through with it. I will be doing more research and googling, and reading and using all my resources! Promise! @PitrateFoxy – I’ll probably be doing some research on a lawyer to have “on call” when we are at that point. You all were so right about all the other things – and I’m sure a few extra hundred bux (what like 500? ) will put me more at ease as I don’t like surprises unless they flowers, chocolate, or kisses :D @bellburgmaggie – isn’t that the truth. Alos.. Houzz app isn’t going anywhere! I love your story about finidng the right place! Man.. 3.5x your investment!! AWESOME!!! Were you ever concerned about over improving? That’s my biggest fear, especially if we buy very low… You know I always imagined buying the house with the crappy wall paper, shag carpet and pink or green tile in the bathrooms a horrible kitchen and then putting in my DREAM kitchen (or as im learning from houzzers, my 99% dream kitchen!). I think that’s something I was struggling with buying new. Even though I got to make a few selections… it wasn’t tailored to me really. So asking my husband in 3 years to redo the layout of the kitchen wasn’t going to fly :D Location location location is so hard for us. We are transplants – with family in the area, but are having a hard time finding the “right” home town. Everywhere we look is “safe” but I really want that neighborhood feel. I moved to Texas because I love saying yes sir, no ma’am, and I want to raise my kids like that. Sweet tea on the porch and waving to your neighbors. I want to make meals for new moms, or help out my grandparents when they need it. I may not have the Texas accent, and as the saying goes “I wasn’t born in Texas, but I got here as soon as I could!” @jannicone – I’m not deleting Houzz!! Just Realtor, Trulia and Zillow :D It may only last a week, but I need some distance! But I will use it as a resorce to keep an eye on the market and see what really happens during “selling” season. Happy to be sorta liked! @Denita , I should know better. I’m a firm believer that EVERYTHING is negotiable and if you aren’t willing to make any changes (they may not have lost me if they let me go to the design center and let me have 2 extra days – would have cost them nothing) I’m not inclined to play ball. Especially in an industry where negotiation is nearly expected. Looks like I have some more homework and research to do! I may need to find a new realtor. Not that she wasn’t good. I felt like she was doing a good job – but I’ll never know if she asked the builder for things. She did make us feel like her only clients, and she was very attentive and listened to my concerns. But I did get a slight feeling that she was “building” up the home a little more than she should have. We signed a contract for 6 months with her. She led with “if at any time you are done with me, I’ll just rip it up.” Who knows if that will come back to bite me in the butt. But, also thought we were going to end up with the first house and it would all be over. Again, lack of experience on my part. I've done some research on how you should select a buyers agent... and I did kind of do it all wrong....See MoreBuilding a new craftsman style home. Builder wont fix major issues!!
Comments (63)Just to be clear, I don't see causation for the developer, it isn't that you and your attorney can't argue causation for the developer, feel free to sue him and roll those dice, but it is an expensive get. Your chances of winning are much less than they are against the builder, and you are unlikely to be awarded attorney fees on a negligence case with this many questions. You must show that the developer had a duty and but for neglect of that duty your house would not have these issues. There are many problems with this assertion, first, and hardest to overcome, is if you knew the approved builders before you bought the lot then you found them acceptable. You have to prove that the developer had a duty to the homeowner. Someone please tell me how selling a lot with certain covenants and restrictions creates a duty for him to fully insure the benefit of those covenants and restrictions that supersedes your acceptance of those covenants and restrictions. That is just one of the three things that you are going to have difficulty overcoming. Once you establish duty, you have to show that there was no reasonable action available that would negate the damage, noting that there are other builders available you would have to prove that they all have similar issues. Once you get past that, you have to prove that the developer actually neglected his duty, which since he has kicked the builder off the development is another tough get. It just seems like a tough win, that is going to cost more than you end up with. Sorry, but that is my opinion. ---------------- Along with my father I have developed several mixed use developments (homes, apartments and shopping), and I am currently a member of an LLC developing a small shopping/condo warehouse district development. I am not saying the developer will not want to help, I am saying as a developer, access is the leverage I have (the money that builders can make from me). Once the builder is removed he is going to tell me to go pound sand. I will happily testify on your behalf if need be, however, if I start paying for things to get done I am opening myself up to an argument that I accepted responsibility. As much as I want financing and publicity to be positive, that has to happen on the front end. I can't start paying for the mistakes that builders make without opening myself up to being responsible for every problem by every homeowner....See MoreUser
6 years agoTanisha
6 years agolast modified: 6 years agoMilly Rey
6 years agolast modified: 6 years agoTanisha
6 years agoherbflavor
6 years agomillworkman
6 years agoK Laurence
6 years agoWeil Friedman Architects
6 years agocpartist
6 years ago
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