New Home
Florida's NEW-HOME MARKET.: An article from: Mortgage Banking [H] [T] [M]
Hortense Leon (Digital) Mortgage Bankers Association of America 2000-01-01
Release date: 2005-07-28
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Answers
I was on vacation and saw many unfinished homes for sale in the port charlotte area... are there any websites ( LINKS ) for me to go to?
I am an Award Winning builder and we do build in that area, and fortunately none of them are ours, as we did not participate in any speculative building, but most importantly; we did not offer sub prime end loans to customers under the false pretense that there would be an easy "flip". Being old fashioned, our customers still have to get a construction loan to build a new home. I am also licensed in real estate, and what you are interested in is being pitched with the same "false fervor" that caused the problem initially. Keep in mind, nothing that comes with "value" is easy, and "good deals" are always defined as GOOD by those who stand to make money on them themselves. Many of the homes you see, have monumentsal problems when it comes to a purchase and "real property closing". One, they are often smothered in Florida's lien laws, and it will be difficult to get clear title, as well as timely. Two; they may be void of any warranties, and therefor will lack accountabilty after the fact for you as the consumer and end user. Few know that under state statute here in Florida, a solvent General Contractor who builds a "new home" must convey a structural warranty that ties to his license, and is good for 10 years. Three; the local building departments of Charlotte County and North Port will look seriously at tearing them down, as the weather is not mild here, and does do damage to structural components over time. And; they do suffer infestations when not lived in or left uncompleted, and as each day passes, they are viewed as a "hazard". Nobody set out on an objective 3 years ago to build an overabundance of "ugly homes", but that is what our market has now, and the media keeps referring to them as "units" in statistical analysis. Compound this number with the abandoned foreclosure's due to our high unemployment since we are a construction driven economy, and we have a real problem here. If I were you, I would liken it to Detroit and the car industry. Does anybody there develop a business plan to manufacture cars(units)that are both "used, ugly, poorly assembled, inefficient, and with rusty parts"? I think not. Fortunately; there are still solvent builders in the area. Many like us are small, and simply waiting for better days, and watched the "volume snake oil salesmen types" gradually go out of business, or off to jail. Our area will indeed rebound, and small "hands on builders" who know their trade will once again prevail. Do yourself a service, and find yourself one of those, and leave what you saw here on your last trip to the "sub-prime lenders and the bulldozers". That should have happened a year ago, and if you build now, you can get the latest in green technology/hurricane code protection. That is VALUE. www.gmcfamilypartners.com
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My husband has been building homes for years but always with or for company, a man saw my husbands work and has asked him to personally build them a home in Alaka, we live in florida!How do we even begin to give a fair estimate and we not loose our butts off, nor be unfair to them? My husband can hire his own crew and will be over seeing all. Does any one have a great outline for bidding jobs for new contruction homes? Also the hows, whats. whens we may not be thinking of?Any good sound help is needed.
Long distance construction?
You would have to take a jaunt to Alaska.
You, I, have no idea what materials cost, what labor rates are, license requirements are, etc.
Bear in mind that the majority of products are shipped to Alaska.
I have no idea what products are manufactured there.
Also bear in mind that the "window" for construction is short, due to weather, and completion may require more time than Florida.
Have a good trip.
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I want to buy this great town home that my fiance and I have totally fallen in love with, originally listed for $370k. So far they have offered us $50k back in incentive money. We understand this isn't enough off in this stinky market. We believe we can negotiate them down the closing costs ($15k) as well as the first two years of HOA ($8k). Can we do better? Should we hire a buyers agent to help? I'm a rather good negotiator, as is my father.
FYI, this is located in West Boynton Beach, Florida
I agree with the first answer. I sell for a new home builder... maybe the same one...LOL.
My company would absolutely NOT pay commission to a realtor at this point in the game. They would not be the procuring cause of the sale. So any help they would give you would come out of your pocket.
Unless you have a friend in the real estate world... who will do it for free.... NO.
Chances are the builder has a bottom line. We all do. Sounds like they have made several concessions already.
Closing cost assistance is a good place to go.... do you have to use their lender? If so... see if they'll wave any loan origination fee.... if not... ask for it back as closing cost assistance.
There is a cap for the allowable cash back at closing (or closing cost assistance) The most they could give toward closing cost (at $320,000) would be $19,200. So you won't get more than that.
You need to make them feel like they are going to lose the sale.... find that bottom line. Let them tell you..."we absolutely can't do better and I'm sorry we can't make this happen...." Let them say goodbye.... That's when you'll know you've got the bottom line.
Wait until the end of the month.... The last 2 days or so.... They want a sale then.
Good luck
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I live in central east coast of florida and looking for pricing interior paint on a new home that i am building, want to know what the contractors are getting per sf and what are they charging for base board, doors and windows, ect. I am dont want to be ripped off, since I am a women. I want to be educated on this. Please help.
We normally charge $2.20 per square foot for new construction work.
Many contractors charge less but use lower quality primers and paints and do one coat of paint instead of the two coats that are required on new construction.
Plus preparation such as sanding and caulking is critical in new construction projects.
florida home, new construction. no weather sealent under the plywood. Builder wants to fill this with foam. it is as if the wall is floating in air. I can put my hand in the space and pull the plywood right off, Not to metion I can see a two inch high, 25 feet long stream of light into my house from this wall.
Foam is a cheap fix on the builder's part. You probably have a home inspection coming up, tell the builder that you're having the inspector come 'early' to look at that specific spot. Remind him to be SURE that it will pass inspection.
He'll probably come up with a more substantial solution!
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