Recently I have found some flexibility among local developers with regard to deposits, upgrades, and sometimes even base pricing. Everyone knows that the advantage is currently to the buyer and developers are starting to respond to the current market Sluggish sales, rising construction costs and the sheer number of new developments have put some pressure on sales offices to make purchasing in their communities more appealing.
I have personally assisted clients in negotiating with developers on design center allowances, friendlier deposits and even occasionally on base pricing. The best deals almost always are found in spec homes that will usually offer a lot of included upgrades and quicker closings.
One client of mine contracted in April to purchase at Santana Ridge Condominiums in Gilbert. The new construction project at Gilbert Rd south of the 202 San Tan Freeway is under the development of Weinstein Company. During construction we noticed that the sales office had reduced prices to draw in more buyers. Most developers would not pass on the reduction to clients already contracted to purchase a higher price. However in Santana Ridge the decision was made to do the right thing and my clients purchase price was reduced by $6000.
These movements by developers are not common, however they reflect the market of today. Having good representation and some negotiation skills working on your behalf can make a big difference in your overall purchase. Buyers agents like myself who specialize in the urban condo and loft market find our reputation usually carries additional weight with developers as well.
For more information on market conditions, communities or expert buyer representation, contact weknowurban directly.
