[quote=sdrealtor]I dont beleive they will hurt the surrounding area. To the contrary they can only help by improving the cachet of the area. I hope this next comment doesnt come off as racist in any way but it has been my experience that Asian buyers have a strong preference for new homes particularly those coming from out of the area. I dont know exactly what the reason is. Whether it is to have something new untouched by others or the sense of security in something new but I have seen it over and over again.[/quote]
In your opinion/experience, how much premium does buyer put on new vs old? Right now, according to Pardee, it would be $200k. If you see them flying off the shelve, does that mean you think $200k premium is valid or do you see resale in the area closing that gap?
BTW, I don’t take your 2nd comment as racist. It is true. Asian tend to like new. But they tend to also want value and not overpay. To those who want new, they don’t want newer, so, as soon as it becomes resale, it’s no longer view, even if it’s 1 year old. So, those Asian you’re referring to would not put the premium on the “newer” homes.
