The Sun is Rising Again at MorningStar Ranch!
Friday, May 1st, 2009
New home sales in Southwest Riverside County are beginning to show real life again, specifically, in the French Valley area! Sales activity at MorningStar Ranch has dramatically improved over the past month. Buyer prospects are increasing weekly and new homes are being sold rapidly. What is driving this market change?
Well, first and foremost the $10,000 California Tax Credit for new home purchases have brought buyers to the communities of Veranda and Ironwood at MorningStar Ranch. Coupled with an opportunity for many buyers to qualify for the $8,000 Federal Tax Credit, some new homeowners are looking at up to $18,000 in future tax credits for buying a home today!
Additionally, many new home buyers have tried to participate in the “foreclosure market” and been treated poorly. We are hearing from a number of our new home buyers that they made multiple offers on foreclosed homes and never heard back from the bank or the broker. They have also told us about the deplorable condition of many of the foreclosed homes they looked at and when they added up the costs to bring the home back to “livable condition”, they were discouraged by the whole process. Then they heard about the California New Home Tax Credit and found out it doesn’t apply to foreclosed home purchases! Their disappointment was complete.
MorningStar Ranch Homeowners
Now, they are in the new home market and they have found a refreshingly different approach to buying a home. They can select their floorplan, their lot, their flooring, countertops and cabinets! They receive assistance with their purchase process, their loan process and their escrow. They receive a warranty for the new home they purchase and they get up to $10,000 in California Tax Credit! If they qualify for the Federal Tax Credit, they can receive an additional $8,000!
With 8 sales in the last 3 plus weeks, buyers are making their dreams a reality with a new MorningStar Ranch home. The recent sales activity has also prompted Brookfield Homes to start construction on nine more homes! This means a better selection on the floorplans and options that buyers are looking for. Priced from the low $300k’s, with generous builder incentives, and coupled with historic low mortgage rates, these new homes are a tremendous value for today’s cost conscious home buyer.
Stop in and take a look at our award winning homes and let the professional sales counselors show you how easy and affordable a new home in Riverside County can be. Then one day soon, you could be watching the sun rise at your very own home in MorningStar Ranch.
Are other homebuilders seeing the same increase in sales, or just Brookfield? Also, it seems to me that Brookfield’s homes are priced slightly higher? Is there a reason for this?
Hi Scott,
The new home market in Western Riverside is seeing general improvement in sales activity, driven by the California Tax Credit and the frustration of buyers trying to acquire a foreclosed home. Brookfield is seeing a larger increase in sales than other builders because of our pricing and value.
There are a couple of factors to always consider when you look at pricing of a new home, the total price and the value price. There are a couple of builders in the Winchester, French Valley and Murrieta area that have “lower prices” than Brookfield. These builders are offering smaller homes on smaller lots in less desirable areas. Hence they can only compete with “price”.
Brookfield Homes offers new homes at Veranda that start at less than $100 per square foot. There is only one other new home neighborhood in the Winchester, French Valley and Murrieta area offering new homes at less than $100/sf. When you compare how much home you are buying to the price you are paying, Brookfield is the best value and one of the very lowest prices you will find for a comparable home size.
Then, you must also compare value. Other builders may offer a big house, but they offer little in the amenity category. Brookfield offers well designed homes with quality spaces and live-able floor plans. We use quality fixtures and top line appliances. You get more value for your dollar in a Brookfield Home.
You should also compare what you get outside the home. Small subdivisions offer little in the way of amenities. Brookfield designs and builds master planned communities. Our new neighborhoods are designed to work inside and outside the home in harmony. At MorningStar Ranch, we offer parks, recreational fields, trails, open space and great schools. There is additional value in a Brookfield home inside a Brookfield master planned community.
When you look at the total picture and the total cost, the dollars per square foot for the home, the neighborhood and the community are still the best when you buy a Brookfield home. Dollar for dollar, there is no better value!
Thanks for asking!
Steve
I know this is a little off topic but wanted to congratulate you on your move to #41 on the Top 100 home builders Great job to you and your team.
Thanks Paul,
Brookfield Homes is focused on providing quality homes and communities for our home buying friends. The company is also focused on strong fiscal management. This keeps us strong in times of fiscal challenge. We believe that strength is reflected in our work and our performance.
Steve
United States pending house sales rose in April beyond expectations as buyers signed contracts to gain a federal tax credit. The National Association of Realtors’ index for pending sales of used homesclimbed by 6.0% to 110.9 in April, the industry group said Wednesday. The gain was the third in a row. Economists surveyed by Dow Jones Newswires had expected pending home sales would jump in April by 5.0%. First-time home-buyers acted in time to beat the April 30 deadline for the tax credit. The incentive was an extension of a subsidy originally enacted in February 2009.