New Construction. Is it the right choice for you?

Hey, it’s Fred.

As you probably know, the real estate world in Northern California is Looney Tunes. And people are flocking now to new construction. I’ve been suggesting that for a while, but it’s starting to seep in that, hey, you gotta be crazy to buy in a resale market because the prices and the terms are ridiculous. Anyway, so we went to a dinar site in Fremont, and wanted to let you know what the process is right now. And this is beginning of February 2021.

First thing you do is you got to go there and go there with your real estate agent. That’s so you can register them. So the way we do it, as we take our flat fee of 8750, and rebate you the rest, you may ask your broker, if they do that, then you go and see the houses, there’s a couple of models and a couple of different ways they design the models. So pick the one house that you would want to buy there, because then you go and get pre approved with their lenders. And yes, three points are going to come off your credit score, but there’s nothing you can do about it. And if you shop for more mortgages in the next month, you shouldn’t have any more points come off.

So we got to do that. Because once you do that, you then get on the waitlist. And here’s how the waitlist works. They have a phone call every Saturday at 10am pacific time, I believe it is you have to be on that call. If you’re not on the call, you go to the bottom of the list, and then they go with whatever available houses they have down the list from number one to whatever it is, as of a couple of days ago.

My client was told it could possibly be up to two years until they’re able to close. So there it is. There’s another Eleanor sewed I know of out in Tracy that’s doing the same thing. So it’s a bit crazy, but that’s in our process. So we work in California, Washington State, Colorado and Pennsylvania.

We take a flat fee of $8,750 and we will rebate do the rest for new construction. So, if you have questions about it, we take your soup to nuts help you through it help you with the options even a little bit. Anyway, cheers.

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