Prices on new construction going up?

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  #1  
Old 05-30-2011, 08:51 PM
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Default Prices on new construction going up?

Heard prices will be going up in June. Does anyone have any historical info on how often prices go up and what percentage? Also how often incentives may occur? Thanks!
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  #2  
Old 05-31-2011, 02:04 AM
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Our salesperson mentioned a 5 - 7% increase in prices.
  #3  
Old 05-31-2011, 07:40 AM
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Default heard it also

Yep, while we were there in April our sales rep, Jack Skelly- the old timer told us prices were going up. Construction material costs have increased, probably due to higher gas etc.
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Old 05-31-2011, 05:27 PM
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Quote:
Originally Posted by jackz View Post
Our salesperson mentioned a 5 - 7% increase in prices.
That's a significant increase in prices....I guess it's time for me to begin thinking pre-owned instead of new....when home prices elsewhere round country are dropping so can't get as much out of existing home can't look at spending even more for new one in TV. I can't imagine I'm the only one in this position. I have a $ amount I can spend and it looks like in TV it will get me significantly less after June 1.
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Old 05-31-2011, 05:37 PM
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Default You are not alone ....

Momesu, we will have to be careful when it is time for us to buy also. Our current home may not bring in as much as we hope for and homes don't cost much in Indiana. Also we will try to project what retirement income will be and cost of insurance.
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  #6  
Old 06-01-2011, 01:55 PM
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Smile Cost goiing up or down

We bought in 2005, July. One year later, our property had appreciatec by $5,000. However, after that, the market began to flop and within three years, our property was worth just about what we paid for it. Today, a home like ours is selling for about $3,000 less than we paid for it.

I never worry about the value of the home. It only matters if we are interested in selling and we are not. We are frogs.....here until we croak. After that, the kids can worry about the value. LOL!!!!
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  #7  
Old 06-01-2011, 01:58 PM
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Smile New or Pre owned

Having lived here for almost 6 years, if I were advising anyone today, I would say get a pre-owned. The new build out is way out and not near anything. Even with the planned building of strip malls with shopping, etc. to be close by, the area just off 466 is the best location. We are near everything that we need or want to see. Good luck.

Don't forget about the Bond also. Many pre-owned homes have bonds paid off and that will save you money and frustration.
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  #8  
Old 06-01-2011, 04:52 PM
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We had planned to purchase a new Woodlawn (concrete 2 BR CYV) on our LSV next week. The new homes site listed five available and I asked my salesman and if anymore were coming up soon. He said no, those five in Southern Star Villas in Tamarind Grove are the last, it will now be called the Durham and cost about 4% more.

He said there is already one Durham listed for $187,000 on a corner lot. If you consider that's about a $10,000 premium lot, then that means the regular price will be about $177,000. That's just about 4% more than the current price which is usually about $169,000.

Fortunately for us and anyone else interested, they had reduced four of the Woodlawns to between $162,000 - $165,000. Then last Thursday when I was looking at the site, the price on one dropped to $156,995 while I was refreshing my page. My salesman went over that night and took pictures inside the unit and emailed them us that night and we purchased the home over the telephone the next day.

I don't feel like were totally in the blind, since we've been through the Woodlawn model, we've seen the online tour many times, we've seen photos of the actual unit and we've driven through Southern Star Villas on our visit last April. So now we have closing July 5th and will become Villagers.
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Old 06-01-2011, 05:08 PM
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Quote:
Originally Posted by Frangyomory View Post
We bought in 2005, July. One year later, our property had appreciatec by $5,000. However, after that, the market began to flop and within three years, our property was worth just about what we paid for it. Today, a home like ours is selling for about $3,000 less than we paid for it.

I never worry about the value of the home. It only matters if we are interested in selling and we are not. We are frogs.....here until we croak. After that, the kids can worry about the value. LOL!!!!
"I never worry about the value of the home. It only matters if we are interested in selling and we are not."

Sound advice, Frangyomory! We bought (new) in January and we were careful to buy within our budget. We didn't buy our home thinking this was an investment. Yes, it would be nice if our home appreciates, but the reality is that it will be part of our estate we'll leave our children at a much later time in life. Until then, we'll enjoy our time in TV.

Regarding pre-owned, I would also suggest looking at those, too, even if you are considering purchasing new.
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Old 06-01-2011, 05:19 PM
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Bought in 2006 when house prices peaked. fortunately I sold my home for my price before the market crashed. I would like to move but it doesn't fit investment philosophy (i.e. bought high would have to sell low). It doesn't appear from WSJ headlines that the housing market is going to recovery anytime soon.

Two people I know bought up at Saint Charles and were offered 5% discount to build immediately rather than waiting for one year. both of their homes are built and they are renting them out as they both still work.

I should have considered renting
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Old 06-01-2011, 05:57 PM
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Quote:
Originally Posted by linandvin View Post
Heard prices will be going up in June. Does anyone have any historical info on how often prices go up and what percentage? Also how often incentives may occur? Thanks!
I was told by TV sales associates this week that a 2-4% increase will go into effect on June 17.

The increase will apply to all new "build now" construction orders placed on or after that date, and also to a contruction order in progress but not yet "accepted into the system" (my words) on or before that date.
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Old 06-01-2011, 06:57 PM
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Default Hard to believe

ABC news just reported that houses are at a 8 year low. ( That would be 2003 prices). Many people need to sell their existing home before purchasing in TV.If they keep raising prices they may "cook the golden goose". If they are raising prices , does that mean they are stopping the discounts on many of the already built homes listed on their web site?
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Old 06-01-2011, 07:23 PM
pauld315 pauld315 is offline
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I really wouldn't worry about it. We were down there last year on a LSP and it seems to me that the houses were priced higher then than they are now. Also, houses are always being discounted. They know how to hit the sweet spot that the market will bear to keep their sales going.
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Old 06-01-2011, 07:54 PM
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It's not likely that prices will increase by 4-7%. Homes in TV were selling about 200-250 new homes when we purchased our home nine months ago. Demand has slowed as less than 200 new homes in the last 12 months (see the ad in the DS) and about 110 preowned homes monthly over the last year.

As pauld said, they know how to find the right price point, using discounts.
  #15  
Old 06-01-2011, 08:49 PM
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Unhappy Our sales agent told us the bad news

We were also told new construction prices are going up on cottage and designer homes June 17. Approx. $3000-7000 depending on model.
Guess they feel they can so they will.
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