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4 Reasons to Buy a Newly Constructed Home Before the New Year

by The Jamey Kramer Group


new home construction

Are you considering buying a newly constructed home?

If you are, you are not alone.

The number of people choosing new home construction jumped in October 2017 to the highest level since October 2007. Many people are finding the lack of inventory frustrating and are increasingly choosing to build a new home.

This is probably a wise move. It’s not likely to start getting any better until the last half of 2018. You could be stuck looking and looking until then.

Why not hop on what could be the best possible time to build a new home now?

Here are 4 reasons to purchase a newly constructed house now that you should consider:

#1: Builders Are Motivated

At this point in the year, getting homes off the books is a top priority. Builders want to sell quickly in the next few weeks, so they are much more likely to cut a deal.

Stop by a sales office and ask about them about “featured” plans or homes. These are the homes they are trying to sell right now. Even if it doesn’t turn into a price discount for you, it could mean upgrades you wouldn’t get at any other time of year.

To get the best deal possible, don’t rely on the sales associate who talks to you when you walk in the door. Bring your real estate agent. You may not think this is worth the extra hassle. However, an agent knows how to get you those upgrades and he or she is representing you.

#2: Less Competition

As with buying an existing home during the holidays, buying a new build has the advantage of not being something most people are doing right now. Most people are shopping, traveling, dining or cleaning.

Being willing to keep at it at this season could just be your winning combination. The other advantage is that a new build doesn’t have to suffer from the same lack of inventory. You choose what you want in this case.

#3: Financial Incentives

Can you imagine it actually being cheaper to build a home than buy an existing one?

This could be true for you: builders often want you to get your loan through their own preferred lender. They often offer thousands of dollars of incentives to get you to do this. Things like closing costs and/or a buy-down of your interest rate may mean you pay 2-3% less on your sales price or loan amount.

However, make absolutely sure you understand what you’re signing. This is another good reason to have your real estate agent with you.

#4: It’s Brand New!

This is the no-brainer. A newly constructed house has never been lived in. It is exactly what you choose. The finishing reflects your own personal style - it’s every homeowner’s dream.

The truth is existing homes in your area and at your price range may need fixing up. If you are experienced at home maintenance, this may be what you want. For many people, this looks like a headache. Still, a lot of buyers have no choice but to go with the fixer-upper these days. What if you didn’t have to?

Takeaway

If you are still searching for a house this holiday season and not ready to give up the fight just yet, talk to your real estate agent about new builds today.

Give us a call. We would be honored to help you.

248-348-7200

 

4 Reasons to Buy or Sell a Home During the Holidays

by The Jamey Kramer Group

4 Reasons to Buy or Sell a Home During the Holidays

It used to be that everyone took a break from real estate during the holidays. The presumption was that homeowners were too busy hosting, cleaning, cooking, and decorating to add the burden of having to vacate their homes in order to show it. Not to mention the prospect of negotiating, closing, and moving during that busy time of year.

That particular aspect of real estate has changed a lot. If you are a buyer in this tough market - especially in Michigan where inventory is down - the holidays might just be the best time to buy.

In addition, if you have been struggling to sell your house, you might find that staying open during the holidays, so to speak, could make all the difference.

Are you about buying or selling a home during the holiday season? Here are four reasons you should consider:

#1: Technology Changes Everything

With the Smartphone technology, people are always searching. People take small moments in between gift buying, carpooling, and waiting in line to check for new house listings. You can bet that if buyers are having a hard time finding a house, they will try to gain that competitive edge by being the first to see and make an offer on a house.

On the other hand, there are always some buyers who won’t want to crowd this busy season with a housing search. Some people do take a break. If you are a buyer on the search, this could be a lighter season and you may experience less competition.

#2: Home at Its Best

The holidays are, inevitably, a time of good cheer and homeyness. Holiday decorating can be a no-brainer, even for those who don’t like to decorate. The right amount of holiday decorations can become a selling point. Prospective buyers may be able to more easily picture themselves in your house when they see it looking cozy for the holidays.

#3: A Good Time to Shift Gears

There are times when a house sits on the market - even in a hot market like this one. It could be your house has been overpriced. It could be it needs repairs. You may have had your house sitting on the market for weeks or months with no showings.

The holidays are a time when people are out of their normal routine. The market could respond positively to a change for you now. Consult a knowledgeable agent and work together to get over whatever obstacle is keeping your home from selling. And let the season do its magic. Buyers at this point are very likely to want to make a deal.

#4: Faster Mortgage Approval & Lower Prices

Buyers are likely to encounter less competition from another source: other buyers trying to get financing. Financiers are not as busy this time of year, for the same reasons the rest of the market is slow.

It’s a great time to take advantage of this. You might find you can get the whole thing done in less time than it would take during peak season. Also, typically because the market is slowest in December, home prices generally stay lower - less competition.

Pro Tip: List in January

If you truly don’t want to be bothered with having your home listed in December, wait until the first of the year. It’s typically a little slower than other times but with the added benefit of a new start.

Buyers who haven’t stopped looking through the holidays will welcome the new influx. It’s also a time when people make resolutions and do things they have been putting off. Don’t let the cold and lack of landscaping deter you!

Takeaway

While buying or selling during the holidays might seem like it won’t be worth the effort, the reality is that it could be much more rewarding than at any other time of year. Both buyers and sellers at this time of year are very motivated.

If you are looking to buy or sell a home, please give us a call. We would be honored to help.


248-348-7200

You may also like to read:
Strategies on How to Sell Your House in Winter
 

Novi High School Receives Top Placement

by The Jamey Kramer Group
Novi High School

Did you know that Novi High School ranked number one in for the 2018 Best Magnet High Schools in Michigan according to Niche.com Inc.?

Do you know the interesting way Niche.com ranks its colleges, schools, and neighborhoods?

Do you know why good school districts are important to us?

What is a Magnet High School?

According to Public School Review, magnet schools are public schools that promote academic opportunity and excellence beyond that which is offered at their regular public school counterparts. They have three distinguishing characteristics:

  • Distinctive curriculum and/or instructional approach.
  • A diverse student body that represents various neighborhood attendance zones.
  • Represent diversity as an explicit purpose.

What is Niche?

Niche is comprised of a small team of data scientists, engineers, and parents, based in Pittsburgh, Pennsylvania. They are passionate about helping others discover the right schools and neighborhoods.

In this new age of reviews - you can find a user review on almost anything these days, from restaurants to podcasts - it was about time for someone to build a research site for best places to live.

Niche.com takes the hassle out of looking for the right neighborhood, school, or college. Since those things are often linked, and it’s such a big decision, Niche takes its job seriously.

The team at Niche.com compiles a lot of data and they distill it into an easy-to-use website to help you find your dream location. They also publish lists like this one each year, to keep track of which schools and neighborhoods are on top or how they might change from year to year.

If you want to know exactly how Niche builds its lists, there’s a pretty comprehensive methodology section on their website. Basically, they take a great deal of data generated by such outlets as the US Department of Education, the Private School Universe Survey, Common Core Data, Civil Rights Data Collection, Niche K-12 Student and Parent Surveys, and many others.

Many factors are considered and given a “grade”: academics, teachers, culture, and diversity, health & safety, resources & facilities, clubs & activities, and sports - as well as parent and teacher surveys on the overall experience.

The rankings are then calculated by eliminating bad data, assigning weights to each factor, evaluating the completeness of the data for each school, and creating a numerical ranking, and grade for each. The result is a ranked list of best schools, colleges, and neighborhoods.

Why Great Schools Sell Homes

In Michigan, we are happy to report that both Novi and Northville received top honors.

Why does this make such a difference?

The answer is great schools sell homes. If you buy in a good school district, regardless if you plan to take advantage of the district’s schools, you are making a more sound investment. Your home’s value is less likely to be affected negatively by an economic downturn. If you end up having to sell when you didn’t plan on it, you are more likely to recoup your investment if you live in a good school district.

In addition, neighborhoods with good schools tend to also have a family culture - and Novi and Northville are no exception. Homes in good school districts tend to be higher in price but the benefits often far outweigh the higher price tag.

Takeaway

If you are looking for the optimal place to buy a home, Niche.com is a great place to start. Their data does seem to accurately represent some of the best places to look for a home in Michigan.

To read the full report on magnet schools, please see 2018 Best Magnet High Schools in Michigan.

If you are interested in looking for a house to buy in Novi, we would be happy to help. Please call our office today.

248-348-7200

 

 

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