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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: deeno who wrote (26073)12/16/2004 8:03:44 PM
From: David JonesRead Replies (1) of 306849
 
>>>>Im only using these as an example to ask the question do you feel that current buyers are more interested in the house then the dirt?<<<<

The house.
I put a three unit sub division together in Pleasanton California back in 1986-88, 3700 ft homes on 11000 ft lots. I got to be know one of the buyers pretty good, were still friends today. His comments about why he and his wife had purchased were that they'd been looking for that sized home on a good sized lot and found few. Others of the same size and caliber were placed on postage stamp sized lots or were inferior in design or location. He felt that most buyers were not interested in large yards. Most were two income households with little interest in yard work.
I feel the same, it's mostly about the house when speaking of track homes. In 96 a developer came to me to purchase ten feet off a parcel I held to accommodate his designs for his project next door. He needed around 3k ft and offered me 10 grand, the dork. He quoted me that added sq footage to already approved lots only returned a $1.76 to the builder so ten grand was generous. "Really some of these guys cant develop a cold."
His numbers may ring true under different circumstances and it gives one an idea of what the yard size means to builders.
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