Finally Finished!!! Norco spec home is complete and in escrow.

A picture paints a thousand words, so here are the before and after photos of our Norco, CA spec home:

BEFORE

AFTER

We purchased a 770 square foot 1930's home with foundation problems, tore it down, and built in it's place a lovely new home that the new homeowners will enjoy for many years to come. The project from start to finish was about 4 months. We closed the purchase of the old home on July 6th, 2011. Building plans were in the works as escrow was processed, and submitted for permit approval soon after we closed. The demolition permit was obtained upon submission of the plans so that the demo work could be done as the City of Norco reviewed the plans for construction.

We received the approval and construction began on September 8th, which put us at about 2 months from closing the purchase to approval for construction. It seemed like FOREVER! Anxious to get going, we got the footings dug, forms laid, and plumbing in place to have our first inspection on 9/12/11 for the foundation location and waste plumbing lines. With our first passed inspection, we proceeded to rebar and hardware for the foundation, which also had to be inspected. PASS!

The next step was pouring the concrete for the foundation, which occurred on 9/20/11. We'd been pricing and planning the lumber purchase, and trusses and windows were already in the works from the time we got the permits, so once the foundation was poured, we were ready to go on to framing, which included roof sheathing and structural hardware components. There are A LOT of new metal hardware pieces that are required these days to ensure that the structure remains sound through whatever the elements might throw at it. Luckily, we used a great architect who included all of the information we needed to comply with the current codes. My husband got a "Pass" on the framing inspection for his birthday!

The next step in the construction of the home was the "mechanicals". Rough electric and plumbing, ducts for heat and air, and fire sprinklers (required for new construction). The roof paper was installed and the roof loaded on top of the structure. And the stucco process was started with the home wrapped in waterproofing paper and chicken wire (lath). The fire sprinklers were tested for proper flow by the local fire official, then after another successful inspection, came insulation. One more inspection, and we were clear to start closing things up!

The scratch coat went up on the exterior, and the drywall was hung inside. Those items were inspected by our very busy City official, who by now was surprised at how quickly things were moving. Tape, mud, and texture were applied inside over the next few days, and then came the second coat of stucco. The garage foundation was poured, and then came the hanging of the doors and installation of baseboards and trim.

The painters came in, completing the two-toned effect that sets off the trim pieces so nicely. I absolutely LOVE the way the detail on the hall ceiling came out! Next was the tile work, with special attention to the featured hall area to complement the ceiling.

Finally, we were getting into the interior finish, with light fixtures and other finish electrical items, cabinets, granite countertops, and plumbing fixtures.

Here's a look at the finished kitchen - the buyer committed with no kitchen in the home, but he's quite happy with it now!

After a whirlwind two month construction process, the final inspection was completed and signed off yesterday, 11/8/11! For a look at the entire construction process, start to finish, here is the photo log on my Facebook Page (feel free to hit the "Like" button while you're there!).

We received an offer a couple of weeks ago from a buyer working with an agent who lives in the area and had stopped by a few times. Although "full price", they were asking for several items that led us to go ahead and list the property to test the market prior to accepting. By the end of the first day on the market, we had two additional offers, one a full price cash offer with no concessions. That was a beautiful day! Unfortunately, the buyer got some bad news within the next few days and decided to back out, but within hours we had a new offer from a solid buyer and opened escrow the next day.

We're very happy with the finished product of our efforts, and looking forward to completing the sale of this home and moving on to our next project. If you'd like to do a similar project yourself, as a real estate broker working Corona, Norco, Eastvale and Riverside I can help you select the right property, complete the purchase, and resell once complete. Contact me to schedule a consultation!

Norco New Construction Home Almost Complete!

Lots has happened since my last post about our new home in Norco, CA. The drywall is up, taping and mud complete, baseboards and crown molding installed, and walls and trim are painted. Floor tile has been laid, grout is going in as I write, and the final coat of stucco has been drying for 2 days. Whew!

So much work has been going on that I'm having difficulty getting quality updated photos. Let me just say that construction sites are not known for being neat and clean! I'm posting what I've got on my Facebook page, so you can click over to see the progress from start to finish (scroll to the bottom for the most recent photos).

Items left to completion:

• Install cabinets in kitchen and bath
• Counter tops and backsplashes
• Finish electrical (wall plates and light fixtures)
• Finish plumbing (faucets and spouts)
• Carpet in the bedrooms
• Landscape (including concrete drive and walkways)

We're already getting people stopping by to ask about purchasing the home, though there is no sign up and we've not really advertised it yet. There is an agent in the area who has stopped by a couple times during construction, and brought clients by today. No offer in hand yet, but it may be sold!

The other day, the inspector drove by on his way to another appointment, and slowed down to wave as he went by. Gotta love Norco! We'll be seeing him again very soon, when we have our final inspection for the occupancy certificate. What a beautiful day that will be!

Thinking of Buying a Short Sale Property in Riverside, CA?  Get Some Expert Assistance!

I'm working with a client right now that has very specific parameters for their investment home purchase in Riverside, CA.  We've met for a buyer consultation, evaluated several opportunities on paper to see how they line up with investment goals, and toured a few houses to see how reality matches up with the numbers on paper.   Bottom line ... the property this person is looking for won't come along every day, but we'll be able to meet the parameters with a little patience and a plan to be ready when the right property comes along.  

Today, this client contacted me about a short sale property he found online.  I looked up the property information on the MLS, checked out the tax records to see what the loan situation was on the property, then called the listing agent to discuss the status of the short sale.  

This home had been on the market for about 6 months.  This is fairly common with short sale properties, but the listing didn't really indicate what the status of the short sale is.  The agent notes indicated that a minimum of 24 hours was required to make an appointment to show the home, but  then stated to make an offer "subject to interior inspection".  This means you may not be able to see the home, just make an offer and then you can inspect the home at a later time to see if you really want it (I'm not a fan, but in certain situations, it can make sense).  The offer subject to interior inspection is often a signal from the listing agent that they don't expect the offer to actually go anywhere, they just need something to submit to the bank to get the ball rolling.  After 6 months on the market, it usually means that an offer has been submitted to the bank already, and they are collecting "back up " offers to have on hand in case the current buyer walks away because the short sale process is taking too long (this is also VERY common).  The listing appeared to have been recently updated by the listing agent, so I was hoping that although he didn't say so in the comments, maybe the short sale was recently approved and they had some idea of what price the bank might accept.  Nope...

In speaking with the listing agent, he indicated that this is a divorce situation, and he's having difficulty in getting the seller to provide the documents requested by the bank.  Even after asking the question several different ways, I am unsure whether he has ever had a complete package to submit to the bank, or if they are just asking for updated documents because of the amount of time that has passed.  Either way, this is not a situation that most people would want to sign on for, and a good agent will not only get the information for you, but let you know the different ways this scenario could play out, and also advise you not to get involved in this transaction unless you are not really invested in the outcome (you're planning to buy eventually, but have no immediate need to purchase now, and you're ok with waiting to see if you can get a deal on this one without being impacted if the transaction never closes at all).  

Some buyers think that they are better off working directly with the listing agent, and there may be a very few times that is best, but can you imagine as a buyer, contacting this listing agent and not knowing to ask these questions, and thinking that your offer is actually being considered, while it sits waiting for the seller to finally come up with the paper work?  I'm guessing that the seller is in no hurry to leave this home, and that the transaction could drag out for some time.  It might end up a good deal for someone eventually, but it also could end up a failed transaction that becomes an REO property.  You want to work with someone who will give you the details you need to make an informed decision.  Give me a call to discuss your plans for your home purchase in Riverside, Norco, Corona or Eastvale.  I'm here to provide the information you need to make decisions that are in line with your goal for your purchase.  

Hi All! I just posted some photos of our Norco Spec Home on FaceBook. Thought I'd share the link for anyone interested in watching the progress. Will be adding some more photos today with the windows in place.

We passed inspection for shear walls and panels yesterday, now have the go ahead for rough mechanicals. A/C was started yesterday, Plumbing started today, and electric will start tomorrow. So excited to see the progress each day!

Anyone who is interested in buying a brand new home in Norco, CA - now is your chance! Contact me for details.

After weeks of waiting for plans to be completed and reviewed by the City, construction has finally begun on our latest "Spec Home" in Norco, CA - Horsetown USA.

Norco is known for being a small rural town, surrounded by modern cities and freeways but separate from the rest of the world. Though there are many traffic lights now, I still remember the days when there was debate over the first traffic signal going up, and how it might impact the town. Growth is inevitable, however the leadership in Norco works to maintain the rural feel and equestrian focus of the town, a cherished pearl in a sea of dense population and crowded streets.

I wouldn't characterize the traffic passing by the property as high volume, but there are a number of people passing by each day, some in their vehicles and many on horseback, who are very interested in the progress of our construction project on Valley View Ave in Norco.

There were those who were very curious when the existing 770 sq ft home (built in 1930) was demolished, wondering if the timing was right for such a project. They weren't afraid to voice their opinions as they passed by, often talking to each other from the front of the line to the back as the horses walked nose to tail. Some were even brave enough to ask about the plans for the property, but most would just comment among themselves as they went past.

Now, with the foundation poured and the framing complete, the rubberneckers are quite obvious as they crane their necks to get a good look at the progress in such a short time. We feel like it's been forever, weeks waiting for the go ahead to start construction, but for the passersby, it's been 5 days from the first cement truck to the final piece of wood in framing.

As we prepare for the next steps in completing the home for its future owner, we are conscious of the attention from the neighborhood, and hope that they're careful in their travels, safely observing our progess, without risk to themselves or others.

Stay tuned for updated photos as the interior takes shape, we sure wouldn't want any accidents in front of the house. Just ask for a tour, park across the street and Alex will be happy to show you the house and answer any questions you might have.

More to come....