4 Misleading Promises Santa Cruz Real Estate Developers Make

Posted by Lauren Spencer on Friday, December 7th, 2012 at 1:01am.

When looking to purchase Santa Cruz real estate, it’s easy to get caught up in the glitz and amenities of new developments. However, you need to be extremely careful when looking to settle in these neighborhoods because developers get excited about what they’re creating and tend to interject promises they can’t keep into their sales pitch.

Do your research and don’t get enchanted by possibilities of what you could get; just focus on what you’re actually getting. Below are four common misleading promises that developers make when highlighting the features of their homes for sale.

• There are actual site photographs. If you’re thinking about purchasing Santa Cruz real estate, then visit it in person. Developers usually post photographs of construction to advertise to investors and reassure buyers of progress, but they tend to leave out images of the nearby highway, construction clutter or other unappealing eyesores nearby.

• Prices are soon to be revised. While many developers advertise prelaunch, launch and completion prices, you still might be able to get a lower price with local investors and Realtors, so check all sources.

• Your investment will increase. There is no guarantee that the property value of your home will go up, even if there are promises of a new mall or school in the area. While this might in fact be the case, don’t put too much emphasis on this point when adding it to your list of pros.

• Construction will be completed on time. For construction to finish on time, it largely depends on the funds and management skills of the developer. If you’re on a restricted timeline, then you should ask for references from the developer to see how timely he or she completed past projects.

Don’t set your heart on a property that’s still being developed without doing your homework. The developer might try to sweet talk you into signing, but remember to stay objective and realize that all the promises that have been made might not be able to be kept. If you’re looking to purchase Santa Cruz real estate, please call me at 831.662.6522 or email me at Lauren@LaurenSpencer.com for more information.

For additional real estate information, please visit my website at www.MySantaCruzRealEstate.com.



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About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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