Location, location, location

How many residents in Firelight paid a premium for the lot where their home is built? The answer is most of them. At least the original owners did. When Firelight first began to sell homes, it was 1999-2000 and the real estate market was HOT HOT HOT! For many people (myself included) the only way to buy a home was to buy a new home at "pre-construction" prices because the resale homes in Highlands Ranch were asking and getting more money that we could afford at the time. The builder knew this and in turn charged lot premiums. There are homes in Finisterra where the lot premium exceeded $100k...you can probably figure out which homes those are, one of them recently resold for $1.3 Million.

But here's the rub. In today's market, builders are frequently waiving the lot premium if your just buy the home. They, like many sellers today, will do anything to get a home sold. And that bodes bad news for the original owners in Firelight that paid a lot premium because you will probably not be recouping that cost when you go to sell your home now.

And then there are those folks who paid for "mountain views" because the home backed to Poston - a not-so-busy road at the time. People paid $5000-$20,000 to back to that street and now if they try to sell, they tend to hear from many potential buyers, "We don't want to back to that street." It can be frustrating, but there are ways to market a home to overcome that objection.

If you want to know more about overcoming objections with location, contact me and I'll give you some ideas.