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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: donald sew who wrote (37227)	12/5/2000 8:46:24 AM
From: SBerglowe	Read Replies (1) of 42787

In order for homes to be homes that reflect current styling, I would estimate that even a GC would be building at no less than $110. a square foot. Contemporary styling now focuses much more on kitchens and bathrooms and flooring. The materials used are more expensive than were customary 10 years ago. People like higher ceilings which adds significantly to the cost of construction. This is going to be an interesting year in real estate. I will reserve judgment. however, I am inclined to think that this will be a difficult year for the high end developers in south Florida where I am a Realtor. 10 years ago entry level on new constuction in the local market was $200-$250 thousand. Entry level new construction here now starts at $500 thousand and many builders such as Toll Brothers (TOL) have come into this area and are converting tomato fields into high end golf course communities. They have also on the drawing board 36 2 1/2 acre homesites which will start at 2 1/2 million. That's in addition to 18 waterfront homes (on the tomato field) that start at a million. Further west we have more homes that start at $600 thousand. I have been a resale as well as a new sale real estate specialist and now I am finding that people who are already in their homes, who bought within the past 10 years, are not moving-- resulting in the most severe shortage of inventory I have ever seen. Recently, I believe homes have trickled onto the market because of sudden changes in finances. Stay tuned Susan

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