How Buyers Can Capitalize On the New Construction Stampede Headed Towards El Dorado County
El Dorado County, the seat of the early gold rush in California, is the prime destination for people looking for luxury homes.
Given the abundant natural beauty, ever improving real estate economy, and the 7,000 new homes projected by developers – that will most likely agitate the slow-growth advocates…
Sellers find themselves in a unique position to market their luxury homes for a lucrative deal while buyers too can bring home a luxury dream house if they time their efforts just right – and that’s where my expertise in El Dorado County comes into play.
Is It 2004 All Over Again?
Most people will not remember the developments as early as 1998 or 2004, but as a real estate agent El Dorado County has been my life – and each day is spent reading, and breathing, and negotiating real estate deals. Hence, it is close to impossible to forget the 2004’s County General Plan that promised the residents that the rural and rustic heritage of the county will be preserved.
How is that related to your investments in El Dorado County?
Since August 2013, developers have taken the bandwagon of rising economy of the county with plans for new construction projects:
- Parker Development Co., a Serrano developer, is seeking to build the Marble Valley project with 3,236 homes and townhouses. The construction project includes a shopping centre and an outdoor pavilion as well as a quarry lake.
- A second complementing development firm intends to build 800 houses.
- The developers of upscale Serrano community in El Dorado Hills with plans for several housing subdivisions
The concern of slow-growth advocates in that newer projects will cause older neighborhoods to fall back in market competition. Though the two projects will set 640 acres for a regional park to rival the Golden Gate Park in San Francisco, and the developers of upscale Serrano community have promised a nature-friendly “agri-suburbia”; the concerns of the people are quite legit.
What Buyers Should Do
Sellers have the dual advantage of the backing of slow-growth advocates, which will stall many investors from investing into the new new-construction sites; whereas the current market trend (a seller’s market) adds greater advantage to their representing agent on the negotiating table.
Amidst all this excitement, buyers lose focus of the opportunities they can invest in places such as El Dorado Hills, Placerville, Cameron Park, Cool, Lake Tahoe, Diamond Springs, etc. Sellers are under pressure due to the uncertainty the rivalry between slow-growth advocates and developers has created – it just might tilt the market balance in the future; and that’s where we can capitalize.
Great, undulating, and scenic landscapes crowned with luxury homes, or new construction plots, more than ever, now offer buyers the ‘almost perfect time’ to purchase either their dream home or the place to build one on.
And given the [dream house] low interest rates made available on new construction loans by HSBC, BBVA, Wells Fargo, and others… there is not much argument for buyers not to invest.
As long as buyers head towards El Dorado County with proper research and comparable data on the market and neighborhood, and the right agent to represent you, they will find great deals on new construction and luxury homes.