Hello my name is Laura Smith and I'd like to introduce myself as partner and president of the VR SAM team in Norther Virginia. I've lived in the Haymarket/Gainesville area for 10 years and have witnessed a period of tremendous growth throughout Northern Virginia's residential and retail communities.  As I work with in- bound buyers in this area I have to be familar with not only existing communities but new communities advertising new home construction. As part of the initial home seach for my clients I always include New Home Construction. While researching  builders of new construction, I run across some interesting information and updates that would benefit prospective home buyers. For instance, in a new home community (Barton-Dumfries,VA) close to Quantico, Richmond American  is offering 3% off their base price for military families. And recently I heard that incentives offered by some builders are no longer tied to using their lender. Typically, the incentives offered require you to use the builder's preferred lender and settlement company.  I've attached a great article discussing the great deals you might run across in new home construction. As spring approaches and the pool of buyers increases I'm sure I'll be doing more research on the new communities in Northern VA. Stay tuned for additional updates. If you have any questions or concerns please contact us at VR SAM.

Great Deals in New Construction Homes

By Joe Gladden, VR SAM®, Captain, USN (retired), Realtor

Veteran Realtor Serving America’s Military, Inc.

 

New construction homes may represent some of the best bargains available in this purchasers’ market.  However, like any important financial decision, solid research is essential to ensuring you get the most for your money.  This article will discuss how to find the best values and avoid some of the “gotcha’s” when buying new home construction.

Just where are the best values and how do I find them?   The best values are usually in homes that are “deliverable” on nearly so, meaning that the builder “wants them off the books.”  Since most builders are not building “spec” homes in this market, they are usually a result of a “failed contract” meaning that the original buyer couldn’t get financing, had a change of plans, or for some other reason, the original contract didn’t make it.  Now the builder is anxious to stop paying the carrying costs and will sell it at steep discount, pay discount points to reduce the loan interest rate, give away upgrades, etc.  It is important to know that a lot of the large builder’s corporate bonuses are tied to moving inventory, thus they want it sold on schedule!   The closer they get to the delivery date, the more negotiable the price and incentives become. 

Since most of these homes are not “spec” homes, it is predictable that the buyers in the original contract added numerous upgrades and extras.  Also, since they are probably within 60 days of delivery, the settlement and occupancy timing works very well for many Military buyers!  

Can I look for these on Realty Web sites?   Maybe, but many builders do not place their listings into the Multiple Listing Service so routine searches on web sites may not reveal these great deals!  Here’s where a Realtor® knowledgeable in the local area can be huge!  They should be aware of the new construction in your area of interest and may even have a strong working relationship with the on-site sales representatives for new construction.  In many cases, they get phone calls or emails from these representatives when the “great deals” come available.  As a technique, they should check with builders just before, and during, your house hunting trip for these possibilities.  By the way, they are NOT unusual and we see it frequently.  As an example, we recently walked into a new home site with a client fully aware that there were no such opportunities.  While touring the model homes, the sales rep received a call that a contract had failed (due to military orders no less).  They offered a deep discount of over $50,000 on the house, added numerous incentives on the house and helped buy down the loan rate.  The house was perfect for the client and they are now enjoying their new home!  

Can we choose some of the options?   That depends entirely on the stage of the construction and what has been ordered.  In some cases yes, in others nothing can be chosen.

So what’s the catch?     Glad you asked!   Generally, the great incentives require you to use the builder’s preferred lender and settlement company, and you guessed it!   They typically cost more.  It is important to closely compare the lender fees and settlement company fees to the competition, and then compare the value given with the discount.  That said, we generally find that it is well worth those additional fees to take the buyer’s incentives and discount.  Carefully review the loan product offered and among other things, verify that it doesn’t have a pre-payment penalty!   While every situation is different and deserves close evaluation, there is nothing to prevent a refinance of the loan immediately after settlement but do consider all costs including the refinance costs as well. 

What else should I consider?  Despite the builder’s insistence, you should have a home inspection conducted by an independent home inspector.   Ideally, the inspection would be conducted before drywall is hung to inspect electrical and plumbing work.  Obviously if the home is “deliverable” the drywall may be complete.  Even so, in our experience, home inspectors frequently find significant issues in new homes that are overlooked by the builder’s quality department…and even the government code inspectors. 

Anything Else?    

·         Yes, the earnest money is definitely negotiable.  Many builders will ask for huge sums of earnest on “to be built homes,” but will accept any reasonable earnest money amounts with “deliverables.”

·         The builder will pretty much dictate the settlement date and will try to close it out before the end of a month for reasons stated above.  If you can’t be there, plan for a “power of attorney” well in advance.  Special POA requirement will be required!

·         Make sure you fully understand the scope and conditions of the home warranty, before you sign the contract!  Insist on meeting the building supervisor and whomever will do the follow up on home warranty issues.  Building a strong relationship with this person can go a long way in getting things fixed after move in!

·         Check out the company.  A lot of builders, large and small, are in financial trouble in this market.  Make them convince you your earnest money is safe and that they will be around to perform the warranty.

·         Verify how quickly your contract offer will be ratified.   Usually, it can be turned around in a matter of a few days, but in some cases, it could be greater than a week!   At a minimum, insist that they give you a verbal acceptance before you stop your house hunting.

·         Regardless of whether you use the builder’s preferred lender, apply with their lender!  A face to face meeting is definitely preferred if possible.  Ensure they give you a good faith estimate of the both the lender’s and settlement company costs.  Then compare with another reputable lender.  

Finally, your Realtor can be an invaluable asset throughout this process.  Keep them in the loop.  Use them to attend inspections, negotiate the price and earnest money, follow up on delivery process, and take pictures at different stages.  If you are half way round the planet at settlement time, you may ask them to settle by power of attorney.  New homes have new sod.  If you settle in the spring and don’t move in for a month while PCSing, ask your Realtor to coordinate a lawn watering and mowing service.  New sod WILL die after a few days in hot weather and the builder will not be responsible for watering after settlement!  

We hope you found this helpful and as always, invite your emails and comments. 

 

Email:  homesformilitary@vrsam.com

www.vrsam.com

Find and sell your home on:  www.moresam.net

Join VR SAM’s national military community forum:   http://vrsam.conforums.com/index.cgi

 

 

What Makes VR SAM® Different?

 

“VR SAM® has been there” and experienced more Military moves than we care to remember.  But we do “remember” the “Good and Not so Good “Realtor experiences and we believe our Military Family clients deserve the Very Best!

We believe in the mission our Military Families support and are grateful for the opportunity to do our part with top quality relocation Realtor services.

VR SAM® offers our purchaser clients an industry leading credit from our commission at settlement. 

VR SAM® offers our seller clients extremely competitive listing rates, and listing options to save them even more money.

Contact VR SAM® today and experience the difference!    homesformilitary@vrsam.com   877 878-7726  

 

 Veteran Realty Serving America’s Military, Inc., VR SAM®,  is a partnership of retired Military Officers and Spouses, all Military Realtors, serving Military Families purchasing or selling homes in the Northern Virginia region including Fairfax County, Prince William County, Loudoun County, Fauquier County, Stafford County, Arlington, and Alexandria,  Many of our purchaser clients are PCSing to the Pentagon, NRO, Fort Belvoir, Fort Meyer, Anacostia, Bolling AFB, Andrews AFB, Navy Yard, Quantico, Coast Guard Headquarters, and other NOVA military installations.   VR SAM also serves a large number of defense contractor employees and Federal Employees from the FBI, NCIS, CIA and other agencies.  Call VR SAM today to learn about our industry leading purchaser client credit and competitive listing programs and rates. 

VR SAM is affiliated with Jobin Realty Manassas, 9327 Main Street, Manassas, VA 20110.   703 365-9090

 

 

Brookfield homes in Gainesville, VA have 3 spec courtyard homes for delivery.   time frame Jan/Feb and Feb/March. The name of the community is  Morris Farms. They also have a home reduced from $474,890 to $439,090 (Yardley model) that will be ready for delivery March/April 2010. If you have questions/concerns contact me at 703 855-6891

What Makes VR SAM® Different?

 

“VR SAM® has been there” and experienced more Military moves than we care to remember.  But we do “remember” the “Good and Not so Good “Realtor experiences and we believe our Military Family clients deserve the Very Best!

We believe in the mission our Military Families support and are grateful for the opportunity to do our part with top quality relocation Realtor services.

VR SAM® offers our purchaser clients an industry leading credit from our commission at settlement. 

VR SAM® offers our seller clients extremely competitive listing rates, and listing options to save them even more money.

Contact VR SAM® today and experience the difference!    homesformilitary@vrsam.com   877 878-7726  

 

 

Veteran Realty Serving America’s Military, Inc., VR SAM®,  is a partnership of retired Military Officers and Spouses, all Military Realtors, serving Military Families purchasing or selling homes in the Northern Virginia region including Fairfax County, Prince William County, Loudoun County, Fauquier County, Stafford County, Arlington, and Alexandria,  Many of our purchaser clients are PCSing to the Pentagon, NRO, Fort Belvoir, Fort Meyer, Anacostia, Bolling AFB, Andrews AFB, Navy Yard, Quantico, Coast Guard Headquarters, and other NOVA military installations.   VR SAM also serves a large number of defense contractor employees and Federal Employees from the FBI, NCIS, CIA and other agencies.  Call VR SAM today to learn about our industry leading purchaser client credit and competitive listing programs and rates. 

VR SAM is affiliated with Jobin Realty Manassas, 9327 Main Street, Manassas, VA 20110.   703 365-9090

 

New Planned Community in Gainesville....Wentworth Green has released 12 Single Family lots. Lot sizes in the first phase of this community range between 7,000-8,000 sq. ft. First phase will contain 50 residential lots. This community is adjacent to the Virginia Gateway Shopping Center in Gainesville, VA. This community will have a pool, recreation center and tennis courts all conveniently located near retail shopping. My understanding is that this planned community is to eventually have 300-400 residential homes. For more information call me at 703 855-6891.

Reproduced with the permission of the National Association of Realtors®


What Makes VR SAM® Different?

“VR SAM® has been there” and experienced more Military moves than we care to remember. But we do “remember” the “Good and Not so Good “Realtor experiences and we believe our Military Family clients deserve the Very Best!
We believe in the mission our Military Families support and are grateful for the opportunity to do our part with top quality relocation Realtor services.
VR SAM® offers our purchaser clients an industry leading credit from our commission at settlement.
VR SAM® offers our seller clients extremely competitive listing rates, and listing options to save them even more money.
Contact VR SAM® today and experience the difference! homesformilitary@vrsam.com 877 878-7726


Veteran Realty Serving America’s Military, Inc., VR SAM®, is a partnership of retired Military Officers and Spouses, all Military Realtors, serving Military Families purchasing or selling homes in the Northern Virginia region including Fairfax County, Prince William County, Loudoun County, Fauquier County, Stafford County, Arlington, and Alexandria, Many of our purchaser clients are PCSing to the Pentagon, NRO, Fort Belvoir, Fort Meyer, Anacostia, Bolling AFB, Andrews AFB, Navy Yard, Quantico, Coast Guard Headquarters, and other NOVA military installations. VR SAM also serves a large number of defense contractor employees and Federal Employees from the FBI, NCIS, CIA and other agencies. VR SAM is a leading advocate for the improvement of home owner benefits for Military Families. Call VR SAM today to learn about our industry leading purchaser client credit and competitive listing programs and rates.
VR SAM owns and operates this MORE SAM website and from . MORE SAM™ is a free advertising site for homeowners and Realtors® who wish to expose their properties to the Military Housing Market. MORE SAM™ also offers excellent advertising opportunities for Realtors® wishing to increase their visibility to Military Families moving to or from over 400 military installations worldwide.
VR SAM is affiliated with Jobin Realty Manassas, 9327 Main Street, Manassas, VA 20110. 703 365-9090

Visited a new Town home community in Alexandria this weekend. Very close to Huntington Metro. The community should be releasing more lots soon. They had a grand opening this weekend. Right now they have two model homes to view. Very nice standard amenities: granite, hardwood, finished lower level. For more information/details call 703 855-6891

What Makes VR SAM® Different?

“VR SAM® has been there” and experienced more Military moves than we care to remember. But we do “remember” the “Good and Not so Good “Realtor experiences and we believe our Military Family clients deserve the Very Best!
We believe in the mission our Military Families support and are grateful for the opportunity to do our part with top quality relocation Realtor services.
VR SAM® offers our purchaser clients an industry leading credit from our commission at settlement.
VR SAM® offers our seller clients extremely competitive listing rates, and listing options to save them even more money.
Contact VR SAM® today and experience the difference! homesformilitary@vrsam.com 877 878-7726


Veteran Realty Serving America’s Military, Inc., VR SAM®, is a partnership of retired Military Officers and Spouses, all Military Realtors, serving Military Families purchasing or selling homes in the Northern Virginia region including Fairfax County, Prince William County, Loudoun County, Fauquier County, Stafford County, Arlington, and Alexandria, Many of our purchaser clients are PCSing to the Pentagon, NRO, Fort Belvoir, Fort Meyer, Anacostia, Bolling AFB, Andrews AFB, Navy Yard, Quantico, Coast Guard Headquarters, and other NOVA military installations. VR SAM also serves a large number of defense contractor employees and Federal Employees from the FBI, NCIS, CIA and other agencies. VR SAM is a leading advocate for the improvement of home owner benefits for Military Families. Call VR SAM today to learn about our industry leading purchaser client credit and competitive listing programs and rates.
VR SAM owns and operates this MORE SAM website and from . MORE SAM™ is a free advertising site for homeowners and Realtors® who wish to expose their properties to the Military Housing Market. MORE SAM™ also offers excellent advertising opportunities for Realtors® wishing to increase their visibility to Military Families moving to or from over 400 military installations worldwide.
VR SAM is affiliated with Jobin Realty Manassas, 9327 Main Street, Manassas, VA 20110. 703 365-9090

Visited a new development in Manassas, VA. The community is called Lees Square and is very close to Old town Manassas. Builder is KHovaninan. Very affordable 3 bedroom, 2.5 bath condo units with 1 car garages. Another Building lot to be released soon. for more information call 703 365-9090 or 703 855-6891


What Makes VR SAM® Different?

“VR SAM® has been there” and experienced more Military moves than we care to remember. But we do “remember” the “Good and Not so Good “Realtor experiences and we believe our Military Family clients deserve the Very Best!
We believe in the mission our Military Families support and are grateful for the opportunity to do our part with top quality relocation Realtor services.
VR SAM® offers our purchaser clients an industry leading credit from our commission at settlement.
VR SAM® offers our seller clients extremely competitive listing rates, and listing options to save them even more money.
Contact VR SAM® today and experience the difference! homesformilitary@vrsam.com 877 878-7726


Veteran Realty Serving America’s Military, Inc., VR SAM®, is a partnership of retired Military Officers and Spouses, all Military Realtors, serving Military Families purchasing or selling homes in the Northern Virginia region including Fairfax County, Prince William County, Loudoun County, Fauquier County, Stafford County, Arlington, and Alexandria, Many of our purchaser clients are PCSing to the Pentagon, NRO, Fort Belvoir, Fort Meyer, Anacostia, Bolling AFB, Andrews AFB, Navy Yard, Quantico, Coast Guard Headquarters, and other NOVA military installations. VR SAM also serves a large number of defense contractor employees and Federal Employees from the FBI, NCIS, CIA and other agencies. VR SAM is a leading advocate for the improvement of home owner benefits for Military Families. Call VR SAM today to learn about our industry leading purchaser client credit and competitive listing programs and rates.
VR SAM owns and operates this MORE SAM website and from . MORE SAM™ is a free advertising site for homeowners and Realtors® who wish to expose their properties to the Military Housing Market. MORE SAM™ also offers excellent advertising opportunities for Realtors® wishing to increase their visibility to Military Families moving to or from over 400 military installations worldwide.
VR SAM is affiliated with Jobin Realty Manassas, 9327 Main Street, Manassas, VA 20110. 703 365-9090

GlenKirk Estates in Gainesville,VA has several brick and stone front Quick Move- In homes available from the Mid 300's to the upper 400's for June-August time frame. For more information call 703 855-6891! Gainesville has numerous retail shops nearby and is close to both I-66 and the VRE.


What Makes VR SAM® Different?

“VR SAM® has been there” and experienced more Military moves than we care to remember. But we do “remember” the “Good and Not so Good “Realtor experiences and we believe our Military Family clients deserve the Very Best!
We believe in the mission our Military Families support and are grateful for the opportunity to do our part with top quality relocation Realtor services.
VR SAM® offers our purchaser clients an industry leading credit from our commission at settlement.
VR SAM® offers our seller clients extremely competitive listing rates, and listing options to save them even more money.
Contact VR SAM® today and experience the difference! homesformilitary@vrsam.com 877 878-7726


Veteran Realty Serving America’s Military, Inc., VR SAM®, is a partnership of retired Military Officers and Spouses, all Military Realtors, serving Military Families purchasing or selling homes in the Northern Virginia region including Fairfax County, Prince William County, Loudoun County, Fauquier County, Stafford County, Arlington, and Alexandria, Many of our purchaser clients are PCSing to the Pentagon, NRO, Fort Belvoir, Fort Meyer, Anacostia, Bolling AFB, Andrews AFB, Navy Yard, Quantico, Coast Guard Headquarters, and other NOVA military installations. VR SAM also serves a large number of defense contractor employees and Federal Employees from the FBI, NCIS, CIA and other agencies. VR SAM is a leading advocate for the improvement of home owner benefits for Military Families. Call VR SAM today to learn about our industry leading purchaser client credit and competitive listing programs and rates.
VR SAM owns and operates this MORE SAM website and from . MORE SAM™ is a free advertising site for homeowners and Realtors® who wish to expose their properties to the Military Housing Market. MORE SAM™ also offers excellent advertising opportunities for Realtors® wishing to increase their visibility to Military Families moving to or from over 400 military installations worldwide.
VR SAM is affiliated with Jobin Realty Manassas, 9327 Main Street, Manassas, VA 20110. 703 365-9090

KB Homes in Huntington Reserve-Alexandria, VA have just announced they have two new buildings just released for sale with Oct/Nov delivery date. Any questions call me 703 365-9090

What Makes VR SAM® Different?

“VR SAM® has been there” and experienced more Military moves than we care to remember. But we do “remember” the “Good and Not so Good “Realtor experiences and we believe our Military Family clients deserve the Very Best!
We believe in the mission our Military Families support and are grateful for the opportunity to do our part with top quality relocation Realtor services.
VR SAM® offers our purchaser clients an industry leading credit from our commission at settlement.
VR SAM® offers our seller clients extremely competitive listing rates, and listing options to save them even more money.
Contact VR SAM® today and experience the difference! homesformilitary@vrsam.com 877 878-7726


Veteran Realty Serving America’s Military, Inc., VR SAM®, is a partnership of retired Military Officers and Spouses, all Military Realtors, serving Military Families purchasing or selling homes in the Northern Virginia region including Fairfax County, Prince William County, Loudoun County, Fauquier County, Stafford County, Arlington, and Alexandria, Many of our purchaser clients are PCSing to the Pentagon, NRO, Fort Belvoir, Fort Meyer, Anacostia, Bolling AFB, Andrews AFB, Navy Yard, Quantico, Coast Guard Headquarters, and other NOVA military installations. VR SAM also serves a large number of defense contractor employees and Federal Employees from the FBI, NCIS, CIA and other agencies. VR SAM is a leading advocate for the improvement of home owner benefits for Military Families. Call VR SAM today to learn about our industry leading purchaser client credit and competitive listing programs and rates.
VR SAM owns and operates this MORE SAM website and from . MORE SAM™ is a free advertising site for homeowners and Realtors® who wish to expose their properties to the Military Housing Market. MORE SAM™ also offers excellent advertising opportunities for Realtors® wishing to increase their visibility to Military Families moving to or from over 400 military installations worldwide.
VR SAM is affiliated with Jobin Realty Manassas, 9327 Main Street, Manassas, VA 20110. 703 365-9090

What Makes VR SAM® Different?

“VR SAM® has been there” and experienced more Military moves than we care to remember. But we do “remember” the “Good and Not so Good “Realtor experiences and we believe our Military Family clients deserve the Very Best!
We believe in the mission our Military Families support and are grateful for the opportunity to do our part with top quality relocation Realtor services.
VR SAM® offers our purchaser clients an industry leading credit from our commission at settlement.
VR SAM® offers our seller clients extremely competitive listing rates, and listing options to save them even more money.
Contact VR SAM® today and experience the difference! homesformilitary@vrsam.com 877 878-7726


Veteran Realty Serving America’s Military, Inc., VR SAM®, is a partnership of retired Military Officers and Spouses, all Military Realtors, serving Military Families purchasing or selling homes in the Northern Virginia region including Fairfax County, Prince William County, Loudoun County, Fauquier County, Stafford County, Arlington, and Alexandria, Many of our purchaser clients are PCSing to the Pentagon, NRO, Fort Belvoir, Fort Meyer, Anacostia, Bolling AFB, Andrews AFB, Navy Yard, Quantico, Coast Guard Headquarters, and other NOVA military installations. VR SAM also serves a large number of defense contractor employees and Federal Employees from the FBI, NCIS, CIA and other agencies. VR SAM is a leading advocate for the improvement of home owner benefits for Military Families. Call VR SAM today to learn about our industry leading purchaser client credit and competitive listing programs and rates.
VR SAM owns and operates this MORE SAM website and from . MORE SAM™ is a free advertising site for homeowners and Realtors® who wish to expose their properties to the Military Housing Market. MORE SAM™ also offers excellent advertising opportunities for Realtors® wishing to increase their visibility to Military Families moving to or from over 400 military installations worldwide.
VR SAM is affiliated with Jobin Realty Manassas, 9327 Main Street, Manassas, VA 20110. 703 365-9090

For those of you who are looking to move in quickly you might consider looking at the New Home builders in the Northern Va area. Richmond American have three homes for quick move-in as soon as 30 days. I'm sure there are other builders advertising quick move-in homes in various stages of construction. Like everyone else these builders are competing with all the "foreclosures" and "short sales" on the market now. They seem to be offering some substantial incentives to prospective buyers. If you have any questions please call me at 703 855-6891

What Makes VR SAM® Different?

“VR SAM® has been there” and experienced more Military moves than we care to remember. But we do “remember” the “Good and Not so Good “Realtor experiences and we believe our Military Family clients deserve the Very Best!
We believe in the mission our Military Families support and are grateful for the opportunity to do our part with top quality relocation Realtor services.
VR SAM® offers our purchaser clients an industry leading credit from our commission at settlement.
VR SAM® offers our seller clients extremely competitive listing rates, and listing options to save them even more money.
Contact VR SAM® today and experience the difference! homesformilitary@vrsam.com 877 878-7726


Veteran Realty Serving America’s Military, Inc., VR SAM®, is a partnership of retired Military Officers and Spouses, all Military Realtors, serving Military Families purchasing or selling homes in the Northern Virginia region including Fairfax County, Prince William County, Loudoun County, Fauquier County, Stafford County, Arlington, and Alexandria, Many of our purchaser clients are PCSing to the Pentagon, NRO, Fort Belvoir, Fort Meyer, Anacostia, Bolling AFB, Andrews AFB, Navy Yard, Quantico, Coast Guard Headquarters, and other NOVA military installations. VR SAM also serves a large number of defense contractor employees and Federal Employees from the FBI, NCIS, CIA and other agencies. VR SAM is a leading advocate for the improvement of home owner benefits for Military Families. Call VR SAM today to learn about our industry leading purchaser client credit and competitive listing programs and rates.
VR SAM owns and operates this MORE SAM website and from . MORE SAM™ is a free advertising site for homeowners and Realtors® who wish to expose their properties to the Military Housing Market. MORE SAM™ also offers excellent advertising opportunities for Realtors® wishing to increase their visibility to Military Families moving to or from over 400 military installations worldwide.
VR SAM is affiliated with Jobin Realty Manassas, 9327 Main Street, Manassas, VA 20110. 703 365-9090