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Wednesday, March 04, 2009

Know your options - Then decide.

In most real estate markets you will have new construction properties competing against existing re-sales. Regardless if you are a newcomer to an area or a current resident looking for a new place, knowing what is on the market is critical for most - prior to choosing which direction you travel. To further illustrate...

I was contacted by an individual last week who was looking for advice - actually a second opinion. As real estate agents we are often called upon to advise our clients.

I asked the all important question - "Are you working with a real estate agent?" My gut feeling was confirmed as I got a quick response of "no."

The contact (from out of the area) stated they had put money down on new construction in Viera, Florida. Now they wondered (who does not have a bit of doubt?) if working with a Realtor would have been a better choice.

I know the development she was buying into and the specific builder. I have had clients purchase new construction in the same gated community. I know the current builder prices are very attractive. [Still the builder price is like the sticker price on a new car - negotiate!]

I provided a summary of re-sale homes in the same development with similar characteristics. Sure, the prices were a bit lower. Sure, there were some short sales on the market. But, they were not new!

I followed up a couple of days later with one question - "Do you feel more comfortable with your decision?" Her response - "yes, thank you."

If you are looking to purchase a home in an area which you are unfamiliar, contact a local expert before you make a decision. A knowledgeable real estate agent can answer your questions, show you what is on the market and represent you when you visit the builder's model. Remember, the folks working at the model home work for the builder!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, working with buyers and sellers in the Viera, Rockledge and Melbourne Florida area.

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