July 2017

The Right Place for a Tight Space Pt. 2

In our previous post, we looked at the first 5 questions to ask yourself while reviewing plans for a new construction development. In this segment, we will analyze the final 5 questions to make the most of your project. Tankless water heaters: This might seem like an expensive option, but since tight spaces often mean you’ll be needing the more expensive power venting 40 or 50 gallon tank options, the difference in moving to a tankless system. Closet Systems: While not one of the cheapest options, sometimes you end up with a higher priced unit that is tight on storage [...]

June 2017

The Right Place for a Tight Space

In today’s real estate environment, floorplans have become tighter and tighter as developers must increase the density of developments to offset rising land and construction costs. As units get smaller, design considerations become increasingly important. Hopefully, your architect is giving the thought and care these floorplans require, but the reality is that salability is never an architect’s primary concern and it falls to the owner to ensure a project under development has carefully thought out floorplans.   As a real estate brokerage specializing in providing support to developers, redT Homes regularly reviews floorplans and provides suggestions to developers. Often our [...]

Finding Land: Where on Earth Do You Start?

Part I:  Acquisitions – the pitfalls With so much at risk in a development project, experience is paramount.  While searching for the right property, stumbling into the wrong deal could prove disastrous. Here are a few pitfalls to avoid when shopping for a development property: Comps – Depending on the type of development in speculation, specific and related comps may or may not be relevant even if they are zoned for the same purpose. For example, a developer may be looking at a G-MU-3 lot in a popular area and assume another party paid a given amount for a very [...]

May 2017

New Construction Sales Strategies

There has been a noticeable trend in the market whereby larger, premium units at higher price points (those above $550k) are purchased by more discriminating buyers. This makes choices regarding layout, finishes, options, etc. especially important for the higher price points. Equally important is recognition that buyers of higher priced units are also less willing to buy off of plans or even during the early stages of construction. These buyers truly aren’t any less imaginative than buyers of lower priced product, the market simply gives them more purchase options as there are more new construction units available that are near [...]

April 2017

Hard Chats on Hard Hats

  Regular tours throughout all phases of construction are an important and common aspect of selling new construction homes. While it is exciting for the buyer to see their new home as it progresses, these tours can pose a certain threat to the developer, builder, and sales team if the proper safety precautions are not taken. At redT, the safety of potential buyers and their agents is paramount when showing a project still in the construction phase. Without exception, hard hats and close toed shoes must be worn at all times, as per OSHA regulations, and each tour must be [...]

February 2017

The Importance of the Right Lender

A good lender is an important partner when buying a home, but even more so with new construction. The construction process can be long and tedious so having a knowledgeable lender is key. With interest rates constantly changing, the most complicated aspect to navigate is when to lock your loan. New construction timelines change on a regular basis and can be effected by anything from the weather to delayed shipments. Before committing to a lender, make sure to ask whether they have extended rate locks, as well as what happens if your rate lock expires and you are in need [...]

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