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News, tips, and guides for buying, selling, or investing in Southern California Real Estate.

May 27, 2024

New Construction vs. Existing Homes

Differences Between Buying New Construction Homes vs. Existing Homes

  1. Customization vs. Ready-to-Move-In:

    • New Construction: Offers the opportunity to customize your home with specific floor plans, finishes, and features. However, this can involve waiting for the home to be built, which could take several months.
    • Existing Homes: Typically ready for immediate occupancy, though some might need renovations or updates to meet your preferences.
  2. Modern Features vs. Established Character:

    • New Construction: Often includes the latest in design trends, energy-efficient systems, and smart home technology.
    • Existing Homes: May have unique architectural details, mature landscaping, and established neighborhoods with a history and character.
  3. Warranties and Repairs:

    • New Construction: Usually comes with builder warranties that cover various components of the home, reducing repair costs in the first few years.
    • Existing Homes: May require more immediate maintenance and repairs, though a thorough inspection can help identify major issues before purchase.
  4. Neighborhood Development:

    • New Construction: You might move into a developing neighborhood with ongoing construction and less established amenities. Future growth can be both a benefit and a temporary inconvenience.
    • Existing Homes: Located in well-established neighborhoods with mature infrastructure, schools, and community services already in place.
  5. Pricing and Negotiation:

    • New Construction: Prices are typically less negotiable, but builders may offer incentives like upgrades, closing costs, or mortgage rate reductions.
    • Existing Homes: Prices can often be negotiated based on market conditions, the home’s condition, and the seller’s situation.
  6. Energy Efficiency and Technology:

    • New Construction: Built to current building codes, often with better energy efficiency, insulation, and modern appliances.
    • Existing Homes: May not be as energy-efficient and could require updates to heating, cooling, windows, and appliances.
  7. Lot Size and Landscaping:

    • New Construction: Lots may be smaller, and landscaping is usually minimal at first. However, you have the opportunity to design your outdoor space from scratch.
    • Existing Homes: Often come with established yards, trees, and landscaping, though the layout and plant choices were made by previous owners.
  8. Financing and Incentives:

    • New Construction: Builders often have preferred lenders and can offer financial incentives for using them.
    • Existing Homes: Financing options are more flexible and can be chosen independently of the seller, but incentives are less common.

Conclusion

Both new construction and existing homes offer unique benefits and considerations. New construction homes provide modern features, customization options, and warranties, making them attractive for those looking for a home tailored to their preferences. Existing homes, on the other hand, offer established neighborhoods, unique character, and immediate availability. Understanding the differences and evaluating what is most important for your family will help guide you in making the best decision for your new home.

May 22, 2024

Tips for Buying New Construction

Tips for Purchasing New Construction Homes

  1. Research Builders and Developments:

    • Investigate the reputation of the builder by checking reviews, visiting other developments they've completed, and speaking with homeowners in those communities.
    • Visit model homes and sales offices to get a sense of the quality and layout options.
  2. Understand the Community Plan:

    • Look into the overall master plan for the community. Understand the amenities that will be available, such as parks, pools, schools, and shopping centers.
    • Check the planned development schedule to ensure the amenities you want will be available when you move in.
  3. Get Everything in Writing:

    • Ensure that all promises made by the builder, including completion dates, upgrades, and warranties, are documented in the contract.
    • Review the contract carefully and consider having a real estate attorney look it over.
  4. Consider Upgrade Costs:

    • New construction homes often come with base models that do not include all the features shown in model homes. Upgrades can be costly, so make sure to get a list of included features and upgrade options with pricing.
    • Prioritize essential upgrades versus those that can be added later.
  5. Inspect the Home:

    • Even new homes can have issues. Hire an independent home inspector to review the property before closing to identify any potential problems.
    • Schedule inspections at various stages of construction if possible (foundation, framing, final walk-through).
  6. Know the Warranty:

    • Understand the builder’s warranty on the home. Most new homes come with a builder’s warranty that covers certain aspects of the construction for a period of time.
    • Get clarity on what is covered and for how long, and know the process for addressing any issues that arise.
  7. Check Financing Options:

    • Builders often have preferred lenders who may offer incentives, such as lower closing costs or interest rate reductions.
    • Compare these offers with other lenders to ensure you’re getting the best deal.
  8. Understand the Homeowners Association (HOA):

    • New communities often have HOAs that manage common areas and enforce community rules. Understand the fees, rules, and regulations associated with the HOA.
    • Review the HOA’s budget, bylaws, and covenants, conditions, and restrictions (CC&Rs).
  9. Location Considerations:

    • Evaluate the location’s proximity to schools, work, and other daily needs. Understand future development plans in the area.
    • Check the commute times and traffic patterns.
  10. Negotiate:

    • Builders may be more flexible with terms rather than price reductions. Negotiate for upgrades, closing costs, or other incentives.
    • Consider the timing of your purchase; builders may offer better deals at the end of the fiscal quarter or year when they are trying to meet sales targets.
May 20, 2024

New Construction Homes

Have you thought about buying a house and specifically buying a new construction home? Does it feel overwhelming and you don't know where to start?

Don't worry, I am now certified as a specialist to sell new construction homes! I understand the details that go into buying a new home and all of the little nuances. 

Check out this video CLICK HERE

That link will take you to my youtube channel

May 20, 2024

Spacious 4 bed home

Check out this quick video of an awesome 4 bedroom home with an open backyard!

 

Watch Here

Posted in Buyers, Investors, Loans
Jan. 12, 2022

Riverside December 2021 Housing

Posted in Buyers, Investors, Sellers
Nov. 9, 2021

October Housing Market Update

It’s Always important to look at the numbers to do an analysis of what could happen in the future for real estate. There is nobody in the world not even the top economist that can predict how the real estate market will turn out. I’ve received a lot of questions regarding a real estate market crash or the housing bubble going to pop, I am here to show you the actual numbers of what is happening in the city of Riverside and Rancho Cucamonga. We take how many how Many houses went onto the market, how many entered escrow, and how many sold out within that month. I also give you the number of total available homes for sale currently on the market.? ?In the next months market update video we can take the November numbers and compare them to October and will continue to do that every month after. This will give us a good indication of what the market is doing. We cannot predict if there will be a real estate market crash, housing bubble popping, or even a slight decrease of prices in homes, but keeping tabs on the market will allow us to stay educated and a head of whatever may happen. If you have any questions or would like me to run an analysis on your city don’t hesitate to reach out to me or leave a comment in this video. If you would like to discuss a real estate plan for your purchase or sale of a home even investments, feel free to let me know I would love to help?.?

 

October 2021 Housing Market Update

Posted in Buyers, Investors, Sellers
Nov. 9, 2021

Does Size Matter

Are you thinking of moving to the inland empire, riverside, or Moreno valley. Do you need a bigger house or a bigger backyard? This video will show you what type of homes you can buy in riverside and Moreno valley. Real estate is much cheaper the further east you go in california. People moving from Los angeles, lakewood, long beach, seal beach, ect., are finding that moving to riverside county has been a pleasant surprise. The real estate in riverside county have a lot more to offer for the price tag. Of course there will be trade offs, especially if you have to make a commute back to LA county or OC.

 

 

Does Size Matter

 

Posted in Buyers
April 21, 2020

4.20.20 Market Update

During these unprecedented times, accurate and factual information is all you can rely on.  There are many that are speculating and creating fear and worry in the masses. I suggest to pay attention to facts and history. 

I hope you've been finding my videos helpful and as always if you have any questions or would like more info, don't hesitate to ask.

 

April 15, 2020

4.13.20 Mamba Day Market Update

On this historic day, where 4 years ago, Kobe Bean Bryant played his last game in the NBA. He scored 60 points in a historic win. Now 4 years later we have lost him and we're going through a pandemic with COVID-19. Although these 2 tragedies have hit hard, our real estate market is still doing well. Please watch this video to hear what the real numbers are in our markets in So Cal. I talk about New homes, agreements entered, and homes sold within the last 7 days. 

If you haven't already please take a look at week 1 and 2 videos to gain better perspective.

As always, if you have any questions or would like me to research other numbers just let me know. Thank you!

 

April 9, 2020

4.6.20 Market Update Video

Here is a link to our YouTube channel in which we are doing a weekly Market update during this Pandemic. We've been receiving many inquires regarding the market so we decided to use the YouTube platform to get the message out. Please click the link below and subscribe to the channel. Also, please share this video with people you know and would find this info useful. 

4.6.20 Real Estate Market Update

Thank you and please stay safe!