Of course, the primary motivation for the builder was to get agents on to the property to see first hand the quality of the offerings. With the market in its current state, just unlocking the doors isn’t bringing us out. For most of the agents, wine and cheese was the big motivator. I always have a slightlydifferent agenda, though.
While the other agents were taking advantage of the wines and cheeses, I grabbed a can of Coca-Cola and headed down to the basement… because that is where the walls are naked and one can get a better look at how the house is put together. I liked seeing the floor truss systems rather than old school 2x lumber. These are a much better floor system. They also make it much easier to run all of the mechanical systems so that the basement can be finished to a higher standard. Two of the plans seemed to be a little more cut up that I would have liked in the basement, but the third was pretty wide open.
I made my way back upstairs and visited the kitchen to pick up a few meatballs and some chicken nuggets (even a garage guy has to eat a little) and get ready for the discussion. I also had the opportunity to talk with the builder/developer, and a few other people before everything kicked off.
Kendall Knight, from SunTrust Mortgage presented a few great options for buyers, including a construction to perm financing plan that sounds pretty good. It allows an 18 month construction window (build time for this development is about 6 months) and up to 12 months to float the rate down. It also allows only 5% down, and depending on individual circumstances, the buyer may be able to have the interest during the construction period paid out of the proceeds.
Sean Doughtie, President of Mayfield Homes (the builder/developer) talked about two programs that they offer. The first is a trade up program, where they will buy the home of their buyer to facilitate the purchase. They also allow contingent contracts on presale (to be built homes), unlike many other builders. In addition to those options, they are very open to modifying the plans to better suit their customers.
Finally, Amberr Meadows, from Bank of America talked about their loan programs, such as their popular “No Closing Cost” option on loans.
The agents present peppered the presenters with questions, and there was a great dialog. ***Full disclosure, I got a $25 Outback Gift Certificate from SunTrust in the drawing.***
The best garage looks to be The Addison. It is a three car attached, with the bays arranged parallel. But, the nice part is that the garage is deeper than most. It also has an extra several feet next to the last bay which would do great to accommodate a motorcycle, big rolling tool box, or machine equipment. So often, even in this price range, the garages are barely adequate to put in average sized cars.
The Victoria features a media room on the second floor. I see that becoming more popular. there is also an upstairs sitting area. That home also has a master on the main level.
If entertaining is the goal. The Bristol has a generous kitchen that opens directly to the living room. It also has a very open plan with a catwalk separating the two story living room and the two story entry.
I went back today to shoot a few pictures of the different plans, as well as some of the specific features. In addition to the pictures and other information here, I also have posted more on my Active Rain blog, here.
Prices run from the low $500s up to the low low $700s. Now through March, they are offering basements on appropriate lots for the same price as homes built on slabs. That equates to about a $35,000 discount. There are plenty of options to make sure that the different houses don’t all blend together. In addition to the nine different floor plans, each offers three different elevations… and of course the builder will alter the plans as necessary to suit the buyer (for a cost…).
It is good to see a builder that is staying in business, and still building quality homes. And, even more importantly, building them at a reasonable cost (for the size and quality…).
As I mentioned in the other post, if you haven’t made it there yet, I am not employed in any way by Mayfield Homes. I can work as a Buyer’s Agent to represent buyers purchasing one of these homes. And I would love to help you buy a home. There are several great things about working with a Buyer’s Agent when purchasing a new home from a builder.
- We have been through this before and know where the “gotchas” are.
- The builders want to keep working with us… we bring buyers… so they will go a little farther to make the deal work.
- We don’t cost anything. the builder pays the fee… and it is rare that a builder will cut the fee for an unrepresented seller. They want to keep working with us, and freezing us out doesn’t make that happen.
- We work on your side. The nice people the builder employs work for the builder. They aren’t there to protect your interests.