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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: fatty who wrote (21241)	6/3/2004 11:41:53 AM
From: TraderC	Respond to of 306849

You have to check the comps.

To: fatty who wrote (21241)	6/3/2004 8:09:13 PM
From: Paul Senior	Read Replies (2) \| Respond to of 306849

No builders here with an answer to your question? I ain't no builder nor active investor, but my answer is I'd say the land's worth $500K to me, if I were a spec. builder. Assuming I knew what I was talking about - which I don't - I'd put $300k into a house (@$200/sq. ft), try for $100k for me as developer, and try to sell the property for $900k. My sales point would be (- if I knew sales, which I don't -) you want into this neighborhood of $1.2-$1.5M homes, here's your nice starter home, at best & lowest price for the neighborhood. (The $1.2-1.5M new homes I assume are being built as: $600+k for land, $600K (or more) for home, $100k for developer. Total: $1.2+M, up to $1.5M. Similarly, I'd guess the 2500sq home with the lot you say is $600k, would go for $600k (lot), $500+k (the house), $100k the developer or total $1.2M.) Summary: 1500sq.ft. home: .9M 2500sq.ft. home: ~1.2M 3000sq.ft. home: 1.2-1.5M How'd I do?