Real Estate

Strategies to Consider While Waiting For Your New Build Home to Be Finished

By Shelley Sakala

The shortage of homes for sale in Phoenix has been reported ad nauseum. Too many buyers, not enough homes. That means if you sell your current home right now, you might have no place to go. And while the market may correct itself before too long, this shortage has kept many sellers out of the real estate game for the past year – which contributes to the shortage of houses for sale. Vicious circle. For all these reasons, we’re seeing more people looking at new build homes. Unlike existing homes, these have a more stable price point that isn’t subject to a weekend bidding war with California investors. Once you’ve signed the papers and put down your deposit, you’re on a direct path to home ownership – but you might have to wait several months until construction is complete. If that’s the case, here are four strategies you can leverage to buy yourself some time while your new home is being built.

LEASE BACK THE HOME YOU’RE SELLING

The lease-back is a situation whereby after the closing date, the seller no longer owns the home but still gets to live there for a set period of time at a set price. In other words, the sellers pay rent to keep living in the home they just sold. This can be a win-win for buyers and sellers, giving everyone time to get their affairs in order before moving in or moving out.

STRETCH OUT YOUR CLOSING DATE

A typical closing can take up to two months, and longer closes can be negotiated. Long closes, however, have built-in risks. They give the buyer more time to keep shopping for a different home and try to wiggle out of the deal you have in place.

FIND AN APARTMENT

Leasing an apartment can be a smart way to bridge the gap while waiting for your new build. Keep in mind that this option requires you to move twice and pay for storage for everything that won’t fit inside your apartment.

EXTENDED STAY HOTELS

In an extended stay hotel, the ease of hotel living is combined with the comfort of a fully furnished apartment. Most offer suites with separate bedroom/living areas, full kitchens, and nightly dinner service. There will be little room for anything aside from your clothes, but the amenities help make up for any inconveniences.

One last recommendation: If you ultimately decide to purchase a new home, I strongly recommend bringing a Realtor with you the first time you visit the community. It costs you absolutely nothing to have a Realtor in your corner, and he/she can guide you in the negotiations, upgrades, paperwork, and financing.

Shelley Sakala is a local Realtor with The Sakala Group.

Springs at Deer Valley Opens in Time for Summer Move-Ins

By Jenna-Lee Neff Images Courtesy of Springs at Deer Valley

Springs at Deer Valley, a new luxury apartment community developed by Continental Properties and built in partnership with McShane Construction Company, recently opened for May and June move-ins.

On North 23rd Avenue near Pinnacle Peak Road, the 296-unit development sits on 17 acres of land and offers studio, one-, two- and three-bedroom floor plans ranging from 553 to 1,436 square feet. In-home amenities include open concept floor plans, hardwood-style flooring, granite countertops, stainless-steel and energy-efficient appliances, optional private balconies or patios, an in-unit washer and dryer, and walk-in closets. Around the community, new residents can enjoy a resort-style swimming pool, 24-hour fitness center and outdoor barbecue area. Other luxury perks include an on-site car care center, gated entrance, 24-hour emergency maintenance response, and a free Shipt membership.

For those with a furry family member, the apartments include an on-site pet playground and pet spa area. Not only are they pet friendly, but according to the website, large breeds are also welcome. Springs at Deer Valley uses a special program to help control pet waste and keep the community clean.

For families with K-12 students, the apartments are in the Deer Valley Unified School District but are also local to Adobe Mountain School, Brightmont Academy, Little Angels Montessori School, and Jefferson Preparatory. Continental Properties owns and operations over 60 Springs communities across the country.

“As a corporate leader and developer of apartment communities nationwide, Continental Properties strives to enhance the local community, and we are committed to providing an unparalleled experience for each customer,” according to Continental Properties.

Learn more about the Springs at Deer Valley by visiting springsapartments.com. For the latest news and updates on the community, follow along on Facebook at @ SpringsatDeerValley.

Jenna-Lee Neff is a freelance journalist, digital audience analyst, and nonprofit public relations professional. Learn more about her work at jennaleeneff.com.