Reno’s Desperate Homebuilders
NEW Home Builder Deals Guide
Reno’s homebuilders are desperate for your money…
We are Reno’s #1 independent source for new home builder information and useful direct homebuilder links – the really dirty, useful stuff and updated frequently – not newspaper b.s. During the housing boom – major homebuilders flocked to Reno Nevada for its combination of inflow immigration from California; lax growth policies; and cheap land. Now – they’ve all bought their land – the speculating buyers have dried up – and they need to sell houses to keep up their quarterly earnings.
All the major homebuilders operate in Reno / Sparks Nevada including: Centex, KB Homes, D.R. Horton, Lennar Homes, Toll Brothers, Meritage Homes, Pulte / Del Webb — and many more. They bought the land and now they need to sell houses – a lot of houses…
The Reno new homebuilder real estate trend for the year is a FREE UPGRADES. We got almost $20,000 in upgrades on our home at the builder’s asking price. By tying lots of free upgrades to your purchase price — you let the builder conceal the price decline in their development and sometimes avoid making price decline guarantee payments to other buyers. You make an offer to the builder (yes its a negotiation like any resale home) but include in your offer a long list of those same upgrades they have the ridiculously marked-up prices for. You get the home at the asking price, but with all the spiffy special grantile tile, porcelain tile, hardwood, electrical, on & on. Your challenge is to find out what the desirable common upgrades are before you make your offer so you can be very specific. Your worst case scenario is they will approve none or only some of the upgrades. Here’s some hints:
- Granite slab countertops – one of the most expensive upgrades.
- Quality tile / granite and/or hardwood flooring in any room that receives traffic – especially on the first floor. Look for traffic patterns on the floor plan.
- Lights: Most homes include minimal lights so they can sell you more. Don’t forget audio wiring for your cool flat screen TV.
Ask for your free upgrades from any homebuilder. Some homebuilders are guaranteeing that if prices decline more – they’ll refund the difference. Sometimes up to a year – sometimes unlimited. This only applies to new home sales while new homes are still being sold.
We publish a weekly list of the desperate stunts of these builders to get you in their sales office. You can turn the situation to YOUR ADVANTAGE by contacting our partners on this page. We also provide links to builder websites — when the websites are actually useful.
During the boom – homebuilders wouldn’t pay commissions to Realtors — but today – they are happy to all work together in harmony. You will get the best advice and assistance by utilizing a Realtor in your new home purchase – and the home builder pays the cost.
Reno’s Desperate Homebuilder Stunts OF THE MONTH:
Reno’s Loneliest Builder? Lennar Homes
| Most Desperate | Builder | Desperate Stunt |
| #1 | D.R. Horton | No interest for 12 months from America’s most desperate builder. Still with way too much land in Sparks. Price has dropped $35,000 at Copper Ridge from our last update. Wait and save!
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| #2 | Centex Homes | They bought way too much land in Spanish Springs and South Reno’s Double Diamond area. Now they’re blowing out the doors with crazy low prices on their tract production homes at Cyan’s Sierra Meadows, Rose, Crest, and Sky. 775-853-0888. National home builder who needs incoming revenue bad. Sparks Miramonte Lasenda and Miraposa – 775-626-5529 They’re throwing in appliances and window coverings too. |
| #3 | Tanamera Homes | Savings up to $50k in Spanish Springs and Golden Valley. No specifics in ad, but clearly desperate to get foot traffic. |
| #4 | Meritage Homes | “Can’t cut prices fast enough”: National homebuilder in over their head and now ready to give you the “Price Pledge Guarantee“. All this does it makes sure that while they’re building the house (not after) that the price doesn’t drop and you can prove it. We hear music to our ears at Meritage. They’re trying to sell homes at Somersett from the upper lower $400’s upper $300k’s (they dreamed a few months ago the low $500’s – these are dropping in price like a rock.) 775-787-6620 and Wingfield from the low $300’s mid low $200k’s 775-626-9941. Somersett and Wingfield Springs are the two weakest areas for new home sales in Reno / Sparks. We’d include a link – but they have no section for Reno on their corporate website as of November? |
| #5 | Bailey and Dutton | Northwest Reno ready-to-sell homes (1,726 square feet) from $315k including front landscaping and fencing. They’ve got so much buyer fallout that they can move you in the Northwest at Laurel Ridge just 30 days (better than it sitting empty). 775-747-2300 (Northwest) |
| #6 | Pioneer Meadows | Outlying land + long commute times = cheap houses. Reynen and Bardis (R&B) and Lennar cranking out product up in Northeast suburban Sparks. Lots for $200k’s and $300k’s. For affordability in a master planned development this is worth a look after you drive 7 miles up Vista from I-80 highway. 775-626-2400 / 775-745-9407 / 775-354-1600 |
| #7 | Tanamera Condo “Resort” | Apartments converted to condos on South Meadows @ Double Diamond Parkway when prices were peaking. Now offering “$10k in incentives” from the mid $200’s. With small homes in Double Diamond / Damonte now approaching the $200’s – this one may not be ripe yet… 775-852-0808 . Free plantation shutters this week and they’ll make sure your agent gets paid an extra juicy commission (3% to 5% to buying broker). |
| #8 | Morrison Homes (New!) | They’d like to make 6 months of mortgage payments for you or furnish your house. Way up Vista and then way east gets you way out in Sparks Wingfield Springs. 2,100 sq ft from the high $300k’s is no bargain guys in this market. “Estrella”: 775-626-0100 |
| #9 | Silver Star / Brighton Manor and Virginia Lake Crossing | Ambitious “in-fill” developments near Moana and Lakeside and near Virginia Lake — the areas have some charm. You’ll be charmed by payments as low as rent ($1300 per month) and “many incentives”. The homes will still cost you from the high $300k’s and they are packed in very close with some bright, bright colored paint. 775-825-1811 Virginia Lake Crossing will get you into the “pond” area starting at the mid $200k’s. 775-825-1811 |
| #10 | The Village at Idlewild Park | Their motto: If you can’t sell it, rent it! Lease (cheaper than buying at falling prices) for $850 per month.Condo’s in an older, charming Southwest Reno neighborhood near the Truckee River and Reno High School. Priced from the $170k’s (oops that’s now $156k) which is a very low entry point. Big developers; quality construction; very good location. Worth a look 775-234-2777. |
| #11 | KB Home | Tract homes in outlying South areas need buyers now. KB is sitting on inventory with demand at very low prices per square foot. Calabria can be reached via phone at 775-850-1190. KB Home has never been too hot in Reno and really came in at the end of the boom. Bad timing equals good deals for you – push them hard. Calabria at Damonte Ranch is now priced very inexpensively. |
| #12 | Altmann – Ott | No downpayment; no closing costs; and no payments for 12 months. Local builder sitting on way too many homes in far-out Fernley; North Valleys and way North Sparks. They’ll let you live with no payments for a year? That’s better than rent. Not ideal locations but a great discount. Ask them to throw in a price decline guarantee too (see Ryder Homes below). 775-354-1850. Homes from around $300k. |
| #13 | Ryder Homes | 1 Year price decline guarantee in some communities: Any decline in selling prices at Talon Pointe Somersett / Northwest Reno from low $500k’s (low $400k’s make that $399k) will be refunded (% decline x your purchase price) until 12/31/2007. Also building in Sparks (no price guarantee shown?) at Firenze from the low $400k’s (oops – this is now the mid $300k’s), and premium $600k homes in South Reno foothills Mountaingate (775-355-7030. Expect generous hidden lot premium (added costs) at Mountaingate 775-852-1177. Now you can “win” automatically receive a free vacation at “luxury” Mountaingate if you buy a home. What a deal!!! |
| #14 | Caviata @ Kiley Ranch (Sparks) | Unlimited price decline guarantee: Any future decline in price will be refunded to purchaser. Guarantee is curently only on the first 23 homes at community. |
| #15 | Reynen and Bardis (R&B) | “Use as you choose” incentives (ie discounts) from $20k to $30k. This Reno / Sacramento-based builder bought too much land at the wrong time and is sitting on significant standing inventory in South Reno and Wingfield. They found a new word for when a buyer pulls out of a home purchase — they call it a “spotlight” home — ie ready for you to buy. |
| #16 | Lakemont Homes | Ready-to-move-in homes (ie not sold / buyer fallout) across Northwest Reno / Sparks. Full page ads and the prices on the homes are off about 10% – 15% from the original dream. 775-824-3690 Price decline guarantees ONLY DURING ESCROW PERIOD — try a year guys.Only applies to base price of floor plan (ie not discounts on buyer pullouts; or incentives, etc.) Developments and hoped for prices:
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| #17 | Pulte @ Somersett | “Million dollar views” in a “million dollar community” (Somersett) – from the low $300k’s. With the Sun City plan not working out for Pulte in Reno — they’re moving to all-ages homes. These are “courtyard and duet homes”, which means small, small lots. This week’s ad let’s you know that Reno is really close to Tahoe. A great fact for anyone who doesn’t live here or has never been here. Since Somersett is on the outer fringe of I-80, it’s far from Reno’s shopping core, but closer to Tahoe 866-530-3299. I like the name of this one the “Vue”. To drive their point home – you get ski equipment and a season pass if you buy a house – wow (not). |
| #18 | Fallen Leaf Condominiums | Desperate close-out of condos constructed at the height of the real estate bubble with over 15 still available in February 2008. A cookie cutter set of “condo’s” on Mount Rose Highway that look suspiciously like apartments. Original prices were $310; $320; and $340k. Now $240k; $250k; & $257k. If you didn’t buy early – this is one heck of a discount sale. Make them an offer and see what happens. Free fridge, washer, dryer, and faux-wood blinds all included. 775-284-1988 |
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| #19 | Lennar Homes | They’ve got a glut of homes in all the most oversold areas: Wingfield Springs; Curti Ranch (just south of Damonte Ranch / Double Diamond); and Northwest Reno. So desperate – we gave them their own page. Featured pricing(?); special incentives (?) and avoid the financing programs. Here’s our tip: ask for every upgrade imaginable – these guys are in trouble. |
| #20 | Syncon Homes | These guys just don’t get it. Full page color ads of happy families with no prices or discount / bonus info. Note to “Syncon”: My family isn’t happy without a price delcline guarantee or $75k in discounts. Not deserving to be on our countdown – but they are building new homes (if they sell any). Bring some snacks for your drive to way North Sparks homes “Shadow Ridge at Sugarloaf Peak”. Homes from 2300 to 4,300 square feet but no prices listed. A builder that may not have gotten the price news from the market yet… Give them a bit of time… 775-424-2400 |
| #21 | Mountain Meadows Townhomes | Icky Wedekind at El Rancho Sparks location so they’ll pay your realtor 6% to bring you (that’s double the norm). Promises of incentives and upgrades but not detailed in ad. You’ll be hearing more from this crew soon. 775-359-0222 |
| #22 | Copper Leaf | Panther Valley (North Valleys) affordable homes from the mid-$200k’s with stucco; fence; tile. They’ll give a $5k credit. 775-348-7555 They look plain but the price is right. |
| #23 | Monte Rosa | New Contestant: High-end Reno home builder (Homecrafters) building along Mount Rose highway up a steep hill. Great houses, but who can afford them. If you can – call 775-853-0866. Getting started early with the deals while their inventory piles up: $40k – $50k in free upgrades on homes from the low $800’s. Price declines coming very soon – once they realize that even Mountaingate nearby can’t sell. |
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