Author Topic: Discounts on standing inventory of new construction  (Read 5312 times)

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Offline USCTrojanCPA

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Re: Discounts on standing inventory of new construction
« Reply #30 on: May 21, 2020, 03:42:45 pm »
Current promotions for most builders as far as commission goes is 4-5% of purchase price.

Yeah, more so for the publicly traded home builders the private guys like Irvine Pacific and California Pacific are sticking to their fixed broker co-ops.

I referred a cash buyer that was able to quick close on a CalPac home and they offered double co-op. They wanted to close before Dec 31 a couple of years ago.

I think CalPac increased their broker co-ops back in 2018 if I remember right from like $12k to $24k on Silverleaf homes.
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Offline Dr. CA Real Estate

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Re: Discounts on standing inventory of new construction
« Reply #31 on: May 21, 2020, 04:03:28 pm »
Of the two Calpacific is slightly more reasonable with their Buyer incentives
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Offline USCTrojanCPA

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Re: Discounts on standing inventory of new construction
« Reply #32 on: May 21, 2020, 08:55:04 pm »
Of the two Calpacific is slightly more reasonable with their Buyer incentives

Yeah, all of the CalPac communities basically offer a flat fee broker co-op that's around 3% compared to like 1.5% before (Trellis Court offered $14k for homes in the $900s).
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Offline Dr. CA Real Estate

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Re: Discounts on standing inventory of new construction
« Reply #33 on: May 22, 2020, 07:05:06 pm »
Shea Homes tends to keep the purse strings tight too.
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Offline USCTrojanCPA

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Re: Discounts on standing inventory of new construction
« Reply #34 on: May 22, 2020, 07:47:41 pm »
Shea Homes tends to keep the purse strings tight too.

Yeah, they definitely aren't as generous as other builders. They bumped up the broker co-op to 3% at Padova in Irvine and are offering 4% at Teresina in Lake Forest.
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Offline Dr. CA Real Estate

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Re: Discounts on standing inventory of new construction
« Reply #35 on: May 22, 2020, 07:56:38 pm »
I’ve dealt with them at park side in HB and Ocean Place in seal beach.
The other cheapo is New Home Company. Toll brothers is a mixed bag I’ve found
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Offline USCTrojanCPA

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Re: Discounts on standing inventory of new construction
« Reply #36 on: May 22, 2020, 07:59:32 pm »
I’ve dealt with them at park side in HB and Ocean Place in seal beach.
The other cheapo is New Home Company. Toll brothers is a mixed bag I’ve found

Well The New Home Company is basically Irvine Pacific 2.0 and I believe that they are the ones that actually build the Irvine Pacific homes.
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Offline Dr. CA Real Estate

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Re: Discounts on standing inventory of new construction
« Reply #37 on: May 22, 2020, 08:00:09 pm »
Have you personally been up to teresenia? What did you think?
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Offline aquabliss

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Re: Discounts on standing inventory of new construction
« Reply #38 on: May 22, 2020, 11:20:10 pm »
Have you personally been up to teresenia? What did you think?

I have.  The layouts are awesome, the location not so much. 

Offline USCTrojanCPA

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Re: Discounts on standing inventory of new construction
« Reply #39 on: May 22, 2020, 11:45:50 pm »
Have you personally been up to teresenia? What did you think?

Floor plans are very nice and Shea tends to build nice homes. Location is average but it'll be interesting to see the community once it's all built out.
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Offline Dr. CA Real Estate

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Re: Discounts on standing inventory of new construction
« Reply #40 on: May 22, 2020, 11:59:24 pm »
Have you personally been up to teresenia? What did you think?

I have.  The layouts are awesome, the location not so much.

Even though they’re tightwads Shea does design good homes. What’s wrong with the area? No good views like other parts of Lakeforrest?
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Offline aquabliss

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Re: Discounts on standing inventory of new construction
« Reply #41 on: May 23, 2020, 08:07:36 am »
Have you personally been up to teresenia? What did you think?

I have.  The layouts are awesome, the location not so much.

Even though they’re tightwads Shea does design good homes. What’s wrong with the area? No good views like other parts of Lakeforrest?

On the way into the community there is an exposed power station on the corner of Peachwood and Trabuco, kind of an eyesore. 

Then when you’re going up the hill, you pass a lot of older homes and condos / apartments.  I think I saw one house that had a visible big blue tarp covering some stucco damage. 

It’s a much nicer feeling when you enter Baker Ranch vs. this community.  After you pass the jail of course.

Offline Dr. CA Real Estate

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Re: Discounts on standing inventory of new construction
« Reply #42 on: June 01, 2020, 02:51:56 pm »
William Lyon founder died a week ago.
RIP
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Offline CogNeuroSci

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Re: Discounts on standing inventory of new construction
« Reply #43 on: June 03, 2020, 12:07:17 am »
Current promotions for most builders as far as commission goes is 4-5% of purchase price.

Yeah, more so for the publicly traded home builders the private guys like Irvine Pacific and California Pacific are sticking to their fixed broker co-ops.

Hi everyone, this is my first post on Talk Irvine. I've been looking around on this forum on and off for about the last 3.5 yrs.

Martin, can I ask what are some of the public builders? So Cal Pac and Irvine Pacific are privately owned. What about Lennar, Brookfield, TRI Pointe, Shea, Pulte, KB, Richmond American, Taylor Morrison, Toll Brothers, etc?
« Last Edit: June 03, 2020, 12:14:42 am by CogNeuroSci »

Offline CogNeuroSci

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Re: Discounts on standing inventory of new construction
« Reply #44 on: June 03, 2020, 12:20:33 am »
Current promotions for most builders as far as commission goes is 4-5% of purchase price.

Kris, where are you getting the 5% broker co-ops? My wife and I have been looking at houses in Juniper (Richmond American), some Lennar communities, and a bunch of Cal Pac communities, and they all offer 3-4% or a flat amount that's close to 3%.

 

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