Having second thoughts about that High-End Condo presale? March 3, 2008
As with any blog, this is not legal advice. If you want legal advice, consult an attorney in your area.
Escala. 1521 second avenue. Olive 8. Just a few of the many luxury, high-end condominiums going up in the Emerald City. Needless to say, when its “designed exclusively for the confident few,” you can [...]
Bribery to Work with the Builder’s Preferred Lender May 6, 2007
When ever I’m working with a home buyer who may be considering new construction, I know I might lose them to the builder’s in house lender. Often times the builder will offer an enticing credit to the buyer’s closing costs only if they obtain their financing from the builder’s preferred lender.
How can having a Loan Originator [...]
Appalling Statistics January 28, 2007
Recentlyk Reba Haas wrote a post about theft of copper from new construction sites.
Today the NWMLS reports that this theft is still on the rise. Here are the appalling statistics.
The thefts since January 1st have occurred in the following areas:
Area 54 - Tacoma area - 1 theft reported
Area 72 - [...]
Whose client is it, anyway January 23, 2007
Scenario: buyer says that they will be buying in 3 months. You say, perfect, let’s get you pre-approved so you’ll be ready by then. You believe the buyer until they call you 5 days later with the great news that they just bought new construction from a site agent! Aren’t you happy for them?
But before [...]
New Construction Tip October 18, 2006
When buying new construction, you should try to do at least two walk through inspections before signing your closing papers. Do one early, maybe two weeks ahead of time. Go back BEFORE you sign your closing papers and check to see if everything from the first walk through was done. You can’t really [...]
A New Kind of Real Estate Company Visited September 18, 2006
A couple of weeks ago I blogged on a new real estate model where I try to match real estate agent strategies to the agent’s personality. I call the different strategies ”games” (www.getstrategic.com/agents). I’m going to share my progress with you, the highs and the lows to let you know how it is going since there’s no other company that I [...]
New Construction Closing Dates June 3, 2006
Further to this string of three posts, I think we need to talk about new construction closing dates. I received a call about ten days ago from a former client whose brother was pulling his hair out regarding a new construction purchase. He was TOLD that the home would be ready in July [...]
New Construction Warranties March 10, 2006
I recently had a conference call with an agent and his buyer who was purchasing new construction from a small builder. In the course of the conversation, we started talking about the builder’s warranty (which there was none) and the agent chimed in with the following: “Well, even without a written warranty, the [...]
What exactly IS a townhome? March 3, 2006
First, let’s all agree that a townhome usually has at least two stories, but you can have a “ranch style townhome” or “rambler style townhome”. Usually there is no one over or under you in a townhome, except sometimes, like in Sixty-01, they occasionally stuff a condo under the two story townhome. In the Seattle [...]
Condo Conversion vs. New Construction February 10, 2006
Given the popularity of condo conversion communities in the Seattle area, I think it is worth noting what these are, and what these are not.
I have heard both buyers and escrow companies refer to condo conversion communities as “new construction”. Please know that these are not new construction, but remodels, for the most part asthetic [...]
