Another Example of Why You Need a Realtor When Buying A New Home

Just read this article about a disaster for a Silicon Valley home buyer who signed a contract with a new home builder and lost $98,000 when things went sour.

I have written about this many times but this case is much more powerful than just me saying don't go into the new development without a realtor.

For those of you who have not read my previous posts about this topic here is the executive summary.

If you go to a new development in Santa Clara or San Mateo County with out a Silicon Valley realtor on your first visit you will not be able to to have a realtor represent you if you decide to buy a home in that development.

The contracts are complicated and are in the builders' best interests, not the buyers'.

The only contingency you have is for financing.

Not all financing contingencies are created equal. You need an expert to help you understand what the contingency is.

If you order upgrades you will need to pay upfront for all or a portion of the upgrades. You need to understand under what conditions you will get your deposit back for the upgrades if the transaction falls through.

The builder needs to complete the home in a specified time period. What happens if they don't? What happens if the market tanks during that time period? Do you understand those parts of the contract?

I could go on, but you get the drift. Most Silicon Valley Home Buyers will not lose $100,000 on a deal that goes bad, but having a realtor to help you may be the difference between winning and losing, and I don't mean the lottery, to get one of these new homes.

If you have any questions about buying or selling a home in Santa Clara or San Mateo county please feel free to contact me.

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
650-619-9285
D.R.E. 01191194

New Construction in Sunnyvale and Santa Clara

There are several new developments in Sunnyvale and Santa Clara that are a big hit with buyers.  These homes are priced from the mid 400's to mid 600's, seemingly a sweet spot for Silicon Valley buyers. I have visited several of these communities and am pretty impressed with their size, floor plans, price, and finishes.
Fusion in Sunnyvale is a large development off of Duane between Wolf and Lawrence.  It has a more modern look, and has some great amenities like an exercise center.  There are 2, 3 and 4 bedroom models with the 3 and 4 bedrooms selling the fastest. they only release a few homes at a time and so far the sales of the larger models has been swift! the smaller units are selling, but not as fast and there are more of them, so they are easier to get.  Fusion  built by O'Brian Homes , an excellent high quality builder. More info can be found at www.fusionsunnyvale.com
Fair Oaks Place is lovely development in Sunnyvale off Fair Oaks between Maude and Duane. It is a smaller development than Fusion with 3 and 4 bedroom homes that have some outside space that will have some landscaping. The exterior style is Mediterranean and the homes all come with solar panels which will keep the utility bills very low.  There are no models because the builder thinks that adds a cost to the home so they have very detailed virtual tours and you can walk through the homes that are in the process of being built to get a feel for the space. The builder is City Ventures and more info can be found at http://www.cityventures.com/sunnyvale.php
KB Homes has a new development near Rivermark called Toscana. These are 3 and 4 bedroom homes  are also selling fast, especially the 4 bedrooms. They are very familiar looking homes to those who have seen KB's work.  They are known for their great floor plans and have front patio areas. The elementary school is Don Callejon which makes this complex extremely popular for families with children. You can learn more about Toscana at ttp://www.kbhome.com/Community~CommID~00650795.aspx
Just remember that if you want to use a realtor to represent you in the purchase of new home (which I highly recommend, especially for first time buyers, they need to go with you on the first visit. If you wander into a new development alone the first time, you will not be able to have a realtor come later and represent you unless you pay them yourself instead of having the builder pay.
If you have any questions about purchasing a new home in Santa Clara or San Mateo Counties, please feel free to contact me.
Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
650-619-9285
D.R.E.  01191194