What's going on over at Piermont at Cadence? I'm glad you asked...

The fiscal year. As defined by the Oxford English Dictionary, it is “a year as reckoned for taxing and accounting purposes.” In real estate talk, it means that they are giving away some big perks to get you off the fence if you’ve been thinking about buying. Some call them year end closeouts, some call them giving away the farm. But it’s real and to some buyers, it’s spectacular.

Case in point: Piermont at Cadence, by Woodside Homes. I was fortunate enough to help a client navigate the seas of buying a new home this past summer. Upon hearing of the incentives being offered, I was there the next day.

Woodside Homes at Cadence has 2 models available, named the Hudson, and the Soho. Both floor plans are single story, but with ceiling height in mind throughout. Since Woodside Homes is a spec builder, the homes already come with some great options and upgrades, so all owners going forward (no matter how soon one decides to sell their own house) will reap the benefits of upgrades. No one will have the dud home in the neighborhood where the first owner decided to do everything on the cheap.

Another benefit of a spec home builder is that they are built much faster than non-spec homes, so if you are in need of a faster close and move-in, a spec home builder like Woodside Homes will alleviate some of that stress.

The Hudson:

• 2048 square feet

• 3 bedroom

• 3.5 bath

• 12’ ceilings in great room

• Super island in kitchen

• Extended 2 bay garage

The Soho:

• 2020 square feet

• 2.5 bath

• Covered Patio

• 12’ ceilings in great room

• Super island in kitchen

• 2 bay garage

As of the writing of this post, there are 2 Hudsons - one selling at $582,584 (down from $592,584) and the other selling for $586,614 (down from $596,614). There is also a Soho at $544,990 (down from $586,065).

For new homes, that is HUGE. On top of that, if you need to, they will offer a 2-1 rate buydown. In layman’s terms, let’s say the going rate is 7% (for round numbers). Year 1 of ownership will be at a rate of 5%. Year 2 of ownership will be at 6%. The actual rate you agree to won’t begin until the beginning of year 3 of ownership. But by then, if interest rates drop to a move favorable position, nothing can stop you from refinancing into a better rate.

I was able to negotiate a big chunk off of the price for my aforementioned client who bought there over the summer. When I went to Piermont at Cadence to gather this information, I stopped by to see how the clients were since I was in the area, and they love their home. They have done some minor improvements to the exterior, and like that the garage is so high that they don’t have to worry about their SUV tailgate hitting the top of the garage. And I also made sure that the builder covered a few mistakes from the construction that could have had some serious adverse impacts. We sniffed out the problems as professionals do, and held the builder to fixing the issues. All is well in the land. And for that, I am grateful.

Who you work with matters. Should you have any real estate questions, I can be reached at 702-340-2678.

Ignacio