with all the condos and townhomes popping up all over the city, is there a way to encourage developers to list those properties on the MLS so they will show up in our search?  at what point can a pre-sale listing go on the MLS?

 

it always seems like a game that they only list specific units and "hold back" the others...

 

Our builder was surprised to learn that his units only showed one photo in the MLS, but multiple photos on his listing agent's website. We encouraged him to post more photos to the MLS.

It may have less to do with the builder and more to do with the marketing company, some of which are special divisions of real estate companies totally separate from regular agents.  Sometimes it is the developer's own marketing department, not a real estate brokerage. There's this whole concept of creating the impression that the units are scarce, when sometimes it's only an attempt to sell off the less desirable units first.   The State of Washington strictly regulates selling something that doesn't exist yet!.  You should check their website for more info.

A presale is a home sold before it is constructed.  In actuality, some are simply "reservations" -- depending on if the project has received final plat approval (meaning that the property has been broken down into individual lots that can legally be sold).  The timeframe for completion is up to the builder.  Usually a certain number of homes are scheduled for certain lots.  Depending on the particular lot or floorplan you want you may not have too much choice as to the completion date.  Usually presales are designed to be completed within 4 months, specifically because past that point the builder knows that he can increase the price as the market changes.  Even locked in at a specific price, many of the agreements allow for the builder to make changes to the plans and specifications.  The longer the time before completion, the more likely the chance of this happening.  It's important to check and see what the contract says.  Also, builders sometimes sell the less desirable lots first (and cheaper), because they know they will be difficult to sell later, so it's important to choose wisely, because you usually can't switch later without paying more.  Even with an extending construction period and closing, most builders will still require that you remove your financing contingency within a much shorter period of time, sometimes  putting your earnest money at risk.  So... never put down more than you need to as earnest money!  It just gives you fewer options if something changes.  Lastly, in a market that is slow and dropping, new construction will be affected as well.  Do your research and make a careful decision.