Peter Mohylsky.   Broker Associate, THE BEACH IS OPEN AND WAITING FOR YOU (Miramar Beach)

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Rainmaker
3,956,156
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

In any given area, the definition can vary.  One buyer's idea of starter is another's perception of the last property.  People have different goals and that includes builders.  I understand they're people too.  

Jun 06, 2021 06:20 AM
Ambassador
2,545,589
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Price.   

 

Of course, prices in desirable areas are going up and up.   You're going to need $300K minimum to get a new home.  

 

Builder incentives?  Not necessary in this market.  

Jun 06, 2021 06:35 AM
Rainmaker
3,905,766
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

It's probably a combinations of both... but really more on the side of price... size does impact price at the end of the day. Of course, the cost of a starter home in Los Angeles, for example, is very different from one in Charlotte. One of our grandsons recently closed on a townhome in Denver... final cost was mid-$400,000's for a 1,400 sf home. That starter home for him would have been $100,000 less in Charlotte and he'd have gotten more for his money as well.

Jun 06, 2021 07:56 AM
Rainmaker
868,510
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

A plain vanilla tract home . . . our median home price is about 200k so anything under that . . .

there is no upside for builders building starter homes. So they aren't. Instead, semi custom and custom homes with HUGE RV garages . . . I about hyperventilated when a 1400 SF home appraised at 365k. The 3000 SF RV garage was the reason.

Jun 06, 2021 07:16 AM
Rainmaker
251,665
Shayne Stone
Champion Real Estate Group - Missouri City, TX
"Your Rock Solid Choice Realtor"

In my opinion it's a house in a nice / safe neighborhood that my clients can get that is at least $300 - $600 below what they are already paying in rent. I also today suggest to those clients that they never sell it and make it into an income property, if it's within their means! 

Which it should be if they followed my other suggestions...

 

 

Jun 06, 2021 11:28 AM
Rainmaker
1,177,060
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

It's simply your first home, whatever you can afford to buy;

in San Diego an average low would be a $400,000 condo or a $800,000 house.

Jun 06, 2021 09:39 AM
Ambassador
3,001,280
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

A combination of both and location.  It also depends on who the buyer is - the type of financing, etc. So many buyers in my market are infused with money from parents. 

A starter home in the markets I serve is likely $1M and up. 

If a condo, we are looking at $600 and up. 

Jun 06, 2021 08:24 AM
Rainmaker
5,365,455
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

It is difficult to say, and it depends on one's idea of a starter home.  As far as buildiers are concerned, they have their agendas also.  A

Jun 06, 2021 07:28 AM
Rainmaker
2,610,542
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

With building on raw land, one wants to capitalize on the most density to promote the return on investment. Lower cost homes is better stated as better, faster & cheaper homes and what is in demand for their neighborhoods as well as what the city will allow. First time buyer or starter home seeker may buy a condo or fixer-upper or a destination home as in needs to be driven to...The next 2-3 years will be profitable for all

Jun 06, 2021 06:22 AM
Rainmaker
6,367,240
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Most of the new homes are above the price range for first time buyers.

Jun 06, 2021 11:49 AM
Rainmaker
3,329,561
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Peter Mohylsky. Broker Associate generally, the price and the location for the starter home.

Jun 06, 2021 08:59 AM
Rainmaker
1,361,548
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Price mainly.

Jun 06, 2021 08:53 AM
Ambassador
3,297,821
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

First time buyers tend to start in townhouses here, and it's always a price issue.  Of course they want single family homes, but few can afford them...even the small ones.

Jun 06, 2021 08:35 AM
Rainmaker
4,734,425
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Price for sure, and location.  Builders are not building for first-time buyers.

Jun 06, 2021 06:55 AM
Rainmaker
680,816
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

I have to agree with Michael Jacobs first statement on his comment. Here a starter home for a young couple would probably be an apartment style condo or a townhouse. Our residential house prices for May average - $997,541 median - $899,900 for 2021, last year it was average - $724,767 median - $659,000 

Jun 06, 2021 06:47 PM
Rainmaker
2,013,770
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Both - under $300k , < 2,000 sq ft

Jun 06, 2021 07:39 AM
Rainmaker
1,697,294
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

It is the price in my area. If you have to stay in a particular range, then that's the houses you get. I would say $275,000 for a 3BR 1BA 1 car garage.

Builders are just giddy that they have people to build for - they don't give a crap about incentives except given to buyers.

Jun 07, 2021 06:18 AM
Rainmaker
4,019,268
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Size is a factor of location. That said, the minimum is $200,000 and can be a 2 or 3 bedroom bungalo of around 1,200 square feet down to a 575 square feet studio. The prices are on the rise.

Jun 07, 2021 04:18 AM
Rainmaker
355,500
Mayra Espinosa Realtor San Mateo Pacifica Homes
Mayra Espinosa Broker- Realtor| Call 650-996-8961 - San Mateo, CA
Pacifica -San Mateo,CA Real Estate agent, Buy,sell

What is considered a "Started home in the San Francisco Bay Area/ San Mateo County? It is a combination of price and size, but there is a third element called location, location location! However, the location depends on the type of home you are purchasing. A started home in San Mateo County area is two bedrooms, one bath or a small 3 bedrooms, one-bath single-family home located in a start-up neighborhood, a townhouse, or condominium complex. 

The location can differ from neighborhood to neighborhood, and, of course, the purchase price and downpayment play a significant role. Most started homes are located in modest areas. You can find a townhome or condo in a decent location, but you still have other costs like homeowner association and assessment fees, etc.  

Jun 06, 2021 03:11 PM
Ambassador
3,020,817
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

for different buyers it's a different home.  It's not a term I use in marketing.

Jun 06, 2021 02:02 PM
Ambassador
3,222,624
Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

1st timers are almost getting priced out in our market (Phoenix). Not much out there under 400K and they fly off the shelf within hours or day upon going on market. 

Jun 06, 2021 12:59 PM
Rainmaker
526,860
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

It is price.  And anything under $400,000 is a starter home in our market.

Jun 07, 2021 10:06 AM
Rainmaker
3,296,977
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Here in NH it can be a 1000-1600 sf home, most often under 300k these days. Up from 250k a short year or two ago. 

Jun 07, 2021 09:31 AM
Rainmaker
407,196
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

In our area a starter home is almost extinct , with the overbearing government regulation and permit fees, suppression of development and lack of inventory the price an entry level buyer has to pay is almost untouchable. I would define a rental as a starter home in our neck of the woods right now.

Jun 07, 2021 03:35 AM
Rainer
253,534
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

different strokes for different folks

Jun 06, 2021 02:12 PM
Ambassador
5,212,077
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

New homes are for those who can afford to pay a premium, and those are not "starter homes" kind of buyers

Jun 06, 2021 01:59 PM
Ambassador
4,492,268
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hard to say, and it depends on your definition, and perhaps who you ask. And no doubt it depends on the local market, type of home (condo, townhome, single family detached), etc.

Jun 06, 2021 01:34 PM
Rainmaker
584,525
Ernie Steele
Berkshire Hathaway HomeServices Homesale Realty - Lebanon, PA
Call me, let's get started!!! 717-273-3774

In my area, $100,000 or so will get you a decent semi-detached 3 BR, 1 bath place to call your own.

 

 

Recently renovated Semi-Detached home, conveniently located to amenities. This home offers 3 Bdrm, 1 full bath, 1/2 Bath, Eat-in Kitchen, 1st Fl Laundry, Freshly painted interior, New carpet, New Kitchen Floor, Natural Gas heat, Gas hot water heater, Back porch, fenced rear yard, on street parking. All Ready for you to move right in!

 

Jun 06, 2021 01:05 PM
Rainmaker
868,064
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I recently listed a 2 bedroom, 2.5 bath, 1,230 sq. ft. condo in a popular East Bay community with excellent schools. List price was $500,000. It quickly went under contract at a higher price. First time home buyer. It is very difficult to find housing at a lower price in that community.

I just checked out mls. In Fremont, Ca., where my office is located, there are currently five properties listed for less than $500,000. All are 1 bedroom, 1 bath condos.

Builder are selling new homes on a lottery basis to those who submit offers that qualify. No reason to give incentives to buyers or build lower priced housing.

Jun 08, 2021 08:00 PM