Below are market statistics for the month of May for Prosper, Celina and Frisco. As you’ll see from the stats below, the market is shifting in the North Dallas area. We have more listings coming to market which is increasing the market’s inventory. This added inventory is beginning to temper the escalation of prices we’ve seen in the past twelve plus months. This is welcome news for buyers who have been watching prices go up and up. Analysts are not projecting prices to fall in the area, but we may have seen the last of crazy prices increases month after month.
There are many reasons why homebuyers love new construction. They get to move into a brand-new house that has the latest and greatest finishes and will likely have little maintenance in the near future. While the process may seem straightforward, there are lots of things that buyers need to be aware of. Having a real estate agent in your corner can help you avoid the many headaches associated with going the new construction route.
Selecting the Right Builder
Most agents are very familiar with the various builders in their area. They understand which builders have the best price points, who specialize in certain styles of homes (production, semi-custom, custom, etc.), what materials a builder uses, and whether the builder has a reputation for having good or bad quality or is responsive to service requests after-closing.
By sitting down with an agent and explaining your goals and requirements, they can save you a lot of time by immediately narrowing down the list of builders who are best suited for your project.
Selecting the Right Community, Floor Plan, and Lot
Agents help guide buyers through the selection process to ensure that the floor plan, community, and lot aligns with the buyer’s individual needs. There are some floor plans and communities that may be hard to resell. An agent will be able to point out these potential challenges. An agent can also help identify poor lot orientations or difficult soil conditions.
When you visit a builder to tour a model home, you will likely be presented with a model that has all of the optional features and upgrades. This is intentional as the builder’s number one priority is to sell each house for the highest possible price. Not every upgrade adds significant value to the property. A real estate agent can help their clients pick the best options to maximize their investment. An agent also knows which options are highly marked-up in order to assist with negotiating a better deal.
Having an Advocate in Your Corner
The on-site agent at the model home may look and sound like someone who is there to help you. However, this representative works for the builder and is there to represent their employer’s best interests. Agents are licensed professionals bound by law and professional ethics, while the builder’s sales representatives are not constrained by those requirements. A good quality agent will be able to see through what is truth and what is a sales pitch.
Once you have reached a decision on which builder to use and which model you would like, it’s time for the real work to begin. Now it’s time for your real estate agent to negotiate with the builder and lock down the purchase of your new property!