<Steve> 82 Report post Posted September 30, 2009 Anyone finding it difficult to move newer houses in uncompleted developments? I am. I don't even market properties as 'new'. I used to get a feeding frenzy. Now the word 'New House' seems like a turn off. With new construction flat, in the next couple of years there will be no newer houses to L/O. Anyone see any issues down the road? Just a thought. Share this post Link to post Share on other sites
dionwisn 0 Report post Posted September 30, 2009 Anyone finding it difficult to move newer houses in uncompleted developments? I am. I don't even market properties as 'new'. I used to get a feeding frenzy. Now the word 'New House' seems like a turn off. With new construction flat, in the next couple of years there will be no newer houses to L/O. Anyone see any issues down the road? Just a thought.yeah,who wants to buy a home in a area thats never been lived in. Theres nothing to base your decision on. I had this happen to me once and I never sold the property. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted September 30, 2009 I haven't dealt with any new construction in a while, so I can't say from personal experience. But thinking about it, I can see where potential buyers would be scared off by the unknown of where the market will be in a year. Lots of builders going under, incomplete subdivisions all around, builder discounts, etc. Share this post Link to post Share on other sites
<Steve> 82 Report post Posted September 30, 2009 Yes, I guess seeing vacant lots and some newer houses built would be a turn off not knowing how or if the development will be completed. This house is a couple of years old. I have another property I am looking at Friday that is in a similar development, but I think the development has been built out more. Onward marketing! Share this post Link to post Share on other sites
jhanson8 0 Report post Posted September 30, 2009 I would be interested in new construction, but the builders either use their own in-house agents or they outsource it to a local brokerage. I tried contacting a few sales offices with not even a nibble. I feel there's potential but I can't get in the door. Share this post Link to post Share on other sites
<Steve> 82 Report post Posted October 1, 2009 Right before, and as the sky was falling on the real estate market, I was able to get some new construction spec houses on L/Os that were no longer selling easily. I even L/O all the houses in one small development that had about 13 lots with about 6 houses built that stalled. The developer of the subdivisions would invite builders to build new houses; so there were 3 different builders in this one subdivision. The key was not working with the builders as much as it was working with the investors putting up the $$ for the house(s) being built. When I got into this particular housing development with one investor and a couple of his houses, I had a brochure made that has information similar to what we use on the Naked Investor Flyer with some graphics and I would stick it on the front door of the other houses. I was placing tenant/buyers, and filling my houses and the other houses sat vacant. I was first contacted by the realtor, and as time went on eventually contacted by the other investors in the development. And so it goes. (luck ) That was a year or two ago, today, some of those same investors send me other leads and I also do repeat CAs with the same houses and a couple have sold. I have one available right now. I used to market "NEW CONSTRUCTION" and I would receive 15 to 20 calls a day. It was insane. Now I say Newer Construction and nothing. The only thing I can figure is that people may think that any left over "New Construction" currently for sale in this market means the development is in trouble and they stay away. I've got to go. I need to put together the agreements for a "1980s condo" I meet the seller in the morning and it will probably be leased in a week. Share this post Link to post Share on other sites
