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Thoughts of R Scott Pierce Real Estate Appraiser

A Common Sense Approach to Building Verses The Existing Home Market.

December 2nd, 2009 3:00 PM

What current real estate market factors would cause a potential home buyer to choose to build rather than buy an existing home? Where would a home buyer expect to get the biggest “bang for the buck?” Here are some things to consider:

First, new construction is not selling as rapidly as it has in the past. This market has forced builders to offer concessions on slow moving homes that will have an immediate negative impact on the value of neighboring homes.

Second, new construction typically cost more per square foot than an existing home. It may be necessary for you to have much more cash up front to build a new home than to purchase an existing home.

Third, declining values have affected the majority of the real estate market. The certainty of what exists in an established neighborhood is greater than the unknowns in a newly developed area as far as future property values.

Now is a great time to take advantage of what the existing market offers. You will be taking a solid step toward finding yourself in a better position when the market finally turns.

Posted by R Scott Pierce on December 2nd, 2009 3:00 PMPost a Comment (0)

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The latest and greatest appraisal app on DaVinci for iPhone

December 29th, 2009 2:51 PM

The DaVinci prototype for iphone is now available in the itunes app store. It's been an eye-opening adventure to see the amazing developments that our Alamode software has provided for real estate appraisers. Go directly to the itunes app store to download this free app. Realtors and brokers - there's a similar app for specifically for your use that will blow your mind!

Check out this very short video!