New Home Prices

[snoopy]

Does anyone know if base price for new homes are posted somewhere ?
( Just curious what my model is sellling for .. it has been little over 2 years )
Or is only source of this information each builder's office ?

Thank you.

[teak]

Most accurate way to find out is head to the sales office and see if your model is still being sold. Or drive around to the newest section and see if you see the same model. Look up the address in the county records online and you'll see the selling price. It won't be the base but should be close even if the house is loaded with options.

-Teak

[Merlin]

Also, www.homesdatabase.com is usually pretty up to date on sales prices. If you do a search on a price range in the 20148 zip code, you can usually find the new homes listed with the base prices -- at least this was true for Van Metre Homes that are still being sold.

I'm sure you will be pleased when you do find the current price. Our base price has gone up almost $120k in one year.

[southernwalkres]

More good news for Southern Walk courtyards homeowners...

I heard the model sold for (in the neighborhood of) $729,000!! When will it ever stop?!?

[snoopy]

As long as people are willing to pay .. I guess there is no end in site ... Just checked my model price and am very pleased !! :D

I can almost put up with all the airplane noises !!
:(

[volvo_nut]

I think we'll be adding the bedroom above the garage now! :)

Model: FITZGERALD, II
ASHBURN, VA* 20148
MLS ID#: LO4955236
$899,995
4 Bed, 3.5 Bath

http://www.realtor.com/Prop/1040147642

[TigerFan]

I also want to add a bedroom above my garage, anybody had this done? Or know of any quality contractors? I can't even guess how much this would cost.

[snoopy]

quote:
Model: FITZGERALD, II
ASHBURN, VA 20148
MLS ID#: LO4955236
$899,995
4 Bed, 3.5 Bath


I think this one is the acutal model house for sale..with all the options put in .. the house next to Van Metre's sales office ...

[mdr227]

It is a bit scary to see how quickly the home prices have gone up. I bought new 3 years ago and have already seen at least a $200k increase (great investment return) and they are still going up. I have no idea how a first time home buyer can afford to live in this area or someone not making a high income.

[Carol Al-Ajroush]

I agree... we are refinancing and learned that the appraisal was $220K more than what we paid two years ago.

[kat]

Congratulations to you all! I wish we had bought when you did. We are currently renting and are a young family. We have no idea what to do! We just checked in on some new condos. being built in both Belmont CC area and Brambelton- all of which are in the mid to upper 300's. Not to mention HOA's there are running about $300/month (rough estimate). We are so stressed!

[mdr227]

I definitely understand your stress. For first time homebuyers there are some good mortgage programs (up to 100% financing without PMI) available and rates are still low. I would look into new construction (try Brambleton also) and see what might be available in terms of closing costs assistance or other incentives. If you can get in on a community right when the sales start prices are usually the lowest. By the time you actually move in you will already see your home value go up quite a bit. However, I can't imagine that the market can support the prices homes are going for these days and continuing to rise. Most homes that were in the 400's a few years ago are above 700k now and townhomes are approaching and exceeding 500k.

[marielaveau]

another option would be the smaller Miller and Smith townhomes. The interior units with garages are generally selling for around 350. They are good for a small family, but be ready to pounce on one once it goes on the market. They go quickly because they are one of the last affordable options in the area. The HOA fee is also not too bad. :)

[Barbara]

Re Kat's remarks on new construction and HOA fees: What do you all think of the bulk contracts that comprise such a large part of some of the larger fee scales? We have a 10-yr bulk contract with Adelphia that expires this year, but it only makes up ~$12.50 of our fee. We have a small group here that is pushing hard to enter a bulk contract for a fiber retrofit, and holds up Brambleton as an example--but doesn't tend to discuss their much-larger fees, of which I believe ~$180 is their bulk telecom. I know you have something similar in your Southern Walk neighborhoods. The discussion ongoing here now has to do with whether or not to enter into any bulk deals, and if so what kind. Our fees are very reasonable right now (approx $70 for SFD), and a lot of people are a bit leery of entering a multi year deal at possibly greatly increased monthly fees for something everyone may not be interested in. The rise in assessed value, the limiting of the supply of land which drives up the cost of a home in the face of relentless demand, taxes and fees all factor together in the discussion. What are the plus/minus discussion points up there on what you get for your fees in different communities?

Barbara Munsey, from South Riding.

[sasha_j]

Barbara,

Prior to entering negotiations with a new community telco or FTTH provider, you would do well to read this thread on the AV Science Forum. It is titled:

>>> Brambleton, VA - Verizon <<<

But it was recently renamed from:

>>> Brambleton, VA - Gatehouse<<<

See:

http://tinyurl.com/7yxcl

While much of the thread is HDTV specific and may not interest you, there are some interesting nuggets from a contractual standpoint. FYI, Gatehouse did so poorly as a CATV provider at Brambleton that they were recently replaced by Verizon.

If your HOA is homeowner-majority I think you have better negotiating "legs" to stand on, as opposed if your HOA is run by the developer.

Beware that FTTH still has substantial growing pains and IMO, offers monopoly pricing, above the marketplace.

[sasha_j]

quote:Originally posted by kat

We just checked in on some new condos. being built in both Belmont CC area and Brambelton- all of which are in the mid to upper 300's. Not to mention HOA's there are running about $300/month (rough estimate). We are so stressed!


The HOA fees in Brambelton might choke a 1st time buyer. They run 200+ bucks and that doesn't even include your POTS line or cable box!

[boomertsfx]

It's nice to have a HOA to control what your neighborhood looks like, but $200... that's just crazy!

[kat]

Thanks for both the advice and sympathy. At times, it feels like we must be the only one's stressed over the prices. It really is like winning the lottery for those that bought a few years ago. My husband already has a long commute into the city, so we really don't want to go much further out. And then there is Maryland. But, we just love VA :) At any rate, I am going to head over to Miller & Smith today and also check out the creative financing that was mentioned. THANKS!
(Oh, I have no idea what to think about the HOA fees. As a renter, I have yet to consider that. I do know that if we went to Belmont CC or Brambleton, we wouldn't be able to afford the HOA,our mortgage, toll road fees,etc. Those HOA fees are like a car payment. )

[snoopy]

On top of the HOA fees .. some communities have mandatory contracts .. such as OPENBAND !!
When is this tide going to turn in favor of home buyers not the builders !!
[xx(]

[boomertsfx]

When you live in a state that likes to protect it's consumers and not the big corporations.... =)

[Carol Al-Ajroush]

word of advise...just be careful about all the flexible mortgages that are out there...make sure you really understand just what is being offered and whether it is beneficial and makes sense. I made the mistake of focusing on the comment from a company on how much we could reduce our mortgage payments by refinancing and not focused on what this new mortgage actually was all about...as a result, we are now refinancing yet again to get out of the terrible mortgage I entered into without fully understanding the terms. )-:

[Barbara]

Thanks, Sasha J, I'll pass that link along. They just did a survey here, where I heard ~40% wondered whether to have ANY bulk deal--just let people choose as they will from the market.

Verizon is really chomping at the bit now that Sprint/Nextel happened, but I wonder what a total fiber retrofit will cost in increased fees/length of commitment. Not to mention digging up the whole community (nobody is talking about that part). Some people here keep holding up Brambleton, but again without discussing the vast difference in fees. As it stands, a lot of the people I talk to around here aren't interested in doubling fees (or much much more) for initially little more than extra TV channels.

We are still declarant controlled, but they have a bit of a pattern of recusal in favor of resident director decisions when it is primarily a resident issue--they may do so on this as well, since we will probably be res-controlled before any big bulk deal runs out.

Kat, given our proximity to DC and the incredible demand for housing, ANYTHING you purchase should follow enough of a pattern of appreciation to allow you to trade up as you accumulate equity. Best of luck to you!

Barbara Munsey, from South Riding.

[BelindaTH]

We are in one of the Courtyard Homes (Broadlands Southern Walk) and we pay $254.50/month for our teleco package and HOA fees. And it is predicted to go up again next year approx. $16.00 for the HOA fees, the teleco tried and is trying to raise their fee(s)for 2005, but it is on hold right now.

[snoopy]

quote:
It is a bit scary to see how quickly the home prices have gone up. I bought new 3 years ago and have already seen at least a $200k increase (great investment return) and they are still going up. I have no idea how a first time home buyer can afford to live in this area or someone not making a high income.


Yeah while most of the telco or cable bundle service ( telephone / internet / cable or dish ) is coming down in price ... Openband is pushing for rate increase.... NICE ! [xx(]