Monday, February 11, 2019 / by Hunter Habib
Happy February! We are well into the winter buying season and buyers have many options! Resale inventory has opened a bit in both the single-family and condominium market, and new construction homes are also available in many different locations in Naples, Bonita Springs, Estero, and Ft. Myers. Having many choices make the Southwest Florida region a great place to buy!
If you’re not sure if you’d like to purchase a new construction home or a resale home, there are specific things you should know before making that decision. For example, buyers need representation for new construction especially in this shifting market (I will address the shifting market reference a little later…). Many buyers do not realize that everything is negotiable in a new construction home transaction! Buyers working with the builder or the on-site builder agent really have no frame of reference other than what the builder is offering. Without your agent, you could be leaving money on the table and never even realize it. Your agent can help you understand what is negotiable; everything from landscape packages to pricing to appliances, so you can make informed decisions. He or she can also negotiate on your behalf. Lastly, the builder pays your agent’s commission, so there is absolutely no reason not to go into a new construction home transaction without your REALTOR®. There is nothing worse than purchasing a brand new construction home only to find out later you could have negotiated better pricing or better features/amenities but didn’t think to ask or, worse yet, didn’t think it was an option! That’s why it is critical to have your REALTOR® accompany you from the first time you visit the property to view models right until you sign on the dotted line!
Another thing to know is that traditional resale pricing is not in line with new construction pricing, meaning that sometimes it’s just as cost effective to buy a new construction home over a resale home. Therein lies another reason to work with an experienced agent in either scenario. Your agent can explain the differences between pricing and help you evaluate those choices based on your lifestyle and needs. These can be difficult decisions to make without an experienced agent to provide you with all the information you need. Make it easy on yourself by getting the help of an experienced REALTOR® - you won’t regret it!
Regarding the “shifting market”, early signs, such as lower pending number in November and December 2018, are pointing to a shifting market and to possibly lower closings in Quarter One 2019. While this shift can simply be normalizing of the market, you’ll just want to make sure you’re working with an experienced REALTOR® in a shifting market. For instance, lower-priced homes are still receiving multiple offers while higher prices of luxury homes take more marketing and experience to sell properly. Of course, you not only must select an experienced agent, but you must also listen to them as well. If you’re going to sell, an experienced agent can assist you in navigating a shifting market to ensure you have the best possible outcome.
Are you selling or buying this winter season? Our team can help you make it happen with the best possible outcome! Here is a handy list of unique sales tools we provide our buying and selling clients. Whether buying or selling, our tools are PROVEN to help you get the most from your transaction!
By: D. Michael Burke