On Thursday I got to go through the new McKinley Village properties. Since then I have talked to a lot of people about the development. Here are my thoughts… The quality of construction is top notch. I wouldn’t expect anything less from Kevin Carson and The New Home Company. They did great work on all of these properties and I think they stack up very well against anything else that is in the market. The VIP event was packed with people ranging from everyone associated with the building of the development, agents, lenders, councilmen, neighbors and most importantly, interested buyers. I talked to a lot of them in an effort to get a good cross reference of feedback and have talked with many more since the event. Many neighbors are still concerned about the impacts of the development on their own properties. Some fear the traffic impacts. Some worry that the development might devalue the older homes in East Sac for one reason or another. Others see this as potentially being very positive for the values in East Sac, Midtown and the surrounding neighborhoods if the houses in McKinley Village can get those prices. The agents ranged from impressed to doubtful. Some focused on the train noise, lack of backyard spaces and the tight streets that were packed with people touring the properties. Some see this as a good amount of inventory in an otherwise very scarce market, a suburb style development without the commute to the suburbs. The buyers that I have talked to also ranged from ready to buy to realizing that this isn’t the home for them. The ones that can see themselves living there don’t want a yard, they want a nice patio. They might be used to not having a yard or are finally done with the work that comes with one. They want all new construction with a 2 car garage but can’t justify the hour plus long commute home to Roseville at 5:00 on a weekday. The ones that have ruled it out after seeing the property want that yard, they want big trees, they are willing to deal with all of the quirks that come with the old homes that dominate the close in neighborhoods. I have a listing coming up in two weeks in Roseville. It is a house on a tiny lot in a cluster home development near a lot of big box stores. I recently helped the owner of that property buy a brick home that was built in East Sac in 1925. At one point his 1,400 square foot, two story new home with dual pane windows on a 1,096 square foot lot in Roseville was the right fit for him. Now a 89 year old home with antique light fixtures and single pane, leaded glass windows that are painted shut is the right fit. When we list the Roseville home for sale...
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