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200x267_Picture of Trey.jpgTreasure Valley Real Estate Market and Construction Industry News & Insights

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Founder

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Equal Housinh\Member FDIC

 
Essential Criteria for Building and Buying In Todays Market
Main / Building Value into Boise Real Estate  

Even in a slow market there are sweet spots that exceed expectations, all you have to do is find them.

Even in a slow market there are sweet spots that exceed expectations, all you have to do is find them. Below are the minimum criteria for both builders and buyers to help choose wisely in a soft market.

  • A credible developer who is in it for the long term, not one to make a quick buck and get out. One who has a proven track record of sustained integrity and does what they say they are going to do. This business philosophy helps protect homeowner’s property values and the builder’s investments. 
  • This is along the same lines as the previous topic: the community must be over the top when it comes to amenities. Before even the first house is built the communities common spaces must be installed. This goes for pools, clubhouses, parks, landscaping, signage and playground equipment, amongst other amenities.
  • There must be at least by-monthly communication between the developer, builders and marketing company. The most effective way is face-to-face meetings. This keeps a handle on quality and absorption rates. You do not want more than a 6 month inventory in any community. Any developer that insists on pushing the 6 month rule is putting their builders at a very high risk of low-ball offers, fire-sales and foreclosures and decreasing property values for the homeowners.
  • You must know your buyer demographics and their price point ranges. FYI: in certain areas price points have dropped 20% to 30% over the last year.
  • The builder must deliver a turn-key home. The buyer should not have to spend a dime on finishing the home, such as landscaping and fencing. The builder had better have an over-the-top home too. This is known as tremendous value! Many of the buyers I have met with have looked at 60 to 70 homes before buying. 
  • The other builders in the community must be credible and produce a home that not only makes them successful, but makes others in the community successful also. All should be Registered Master Builders (RMB) and Energy Star partners.    
 For more information on the communities Flynner Homes is building in please feel free to call me direct at 208-867-4587 or visit us a www.flynnerhomes.com
 
 
Cheers,
 
Scott Flynn, RMB
Flynner Homes
  
Posted by Scott Flynn at 6/26/2008 2:59 PM Permalink | Trackback
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