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Auction on two lots in WaterColor

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Smiling JOe

Smiling JOe

SoWal Expert
Today, I heard that two lots in WaterColor will be auctioned on Dec 10. One lot is Lot 19, Cypress Cove.

Also, WaterColor recently sold one of their homes for $500/sq ft. When the builders are trying to sell homes in WaterColor at $1,000/sq ft, tempers are sure to rise. WaterColor may be hurting itself.:idontno:
 
Smiling JOe said:
Also, WaterColor recently sold one of their homes for $500/sq ft. When the builders are trying to sell homes in WaterColor at $1,000/sq ft, tempers are sure to rise. WaterColor may be hurting itself.:idontno:
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In what phase was the home? You can easily buy a lot and build a house in Phase IV for a total of $500/sq ft so I don't find it surprising. Of course if the home was close to 30A then I would be surprised.
 
Joe said:
In what phase was the home? You can easily buy a lot and build a house in Phase IV for a total of $500/sq ft so I don't find it surprising. Of course if the home was close to 30A then I would be surprised.
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I think you are off on your figures. I am not sure which phase the sale was in but the cheapest lot in WaterColor currently available is just under $500,000. Add another $50,000 for home plans, and you are left with only $225 per sq foot based on a 2,000 sf home. I have not seen the min sf for homes in Ph IV, but my guess from looking at the current homes being built there, is that they will be well over 2,000 sf. Again, this is the math for the cheapest lot in WaterColor. There are only a small handfull of lots in WC priced near this figure, so to say that people can easily build there for $500/sf may be stretching it.
 
Smiling JOe said:
I think you are off on your figures. I am not sure which phase the sale was in but the cheapest lot in WaterColor currently available is just under $500,000. Add another $50,000 for home plans, and you are left with only $225 per sq foot based on a 2,000 sf home. I have not seen the min sf for homes in Ph IV, but my guess from looking at the current homes being built there, is that they will be well over 2,000 sf. Again, this is the math for the cheapest lot in WaterColor. There are only a small handfull of lots in WC priced near this figure, so to say that people can easily build there for $500/sf may be stretching it.
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What I had in mind was if you bought a lot for around $450-500K, you can then build a home through the Watercolor builder program. Through this program a builder such as Monte Hewett can build you one for under $325 sq/ft. You choose one of their plans and skip the $50K in architect fees. I have pricing from Monte Hewitt as of two weeks ago so the home price per sq/ft I am quoting is accurate.
 
Joe said:
What I had in mind was if you bought a lot for around $450-500K, you can then build a home through the Watercolor builder program. Through this program a builder such as Monte Hewett can build you one for under $325 sq/ft. You choose one of their plans and skip the $50K in architect fees. I have pricing from Monte Hewitt as of two weeks ago so the home price per sq/ft I am quoting is accurate.
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Help me if I am off. Let's say you bought the cheapest lot and they reduced the price slightly, leaving you to pay $450K for the lot. At 2000sf, your cost of the lot per sf of house is $225/sf ($450,000/2,000sf).

Leaving out the arch. costs, and using Monte Hewett's quote to you of $325/sf, you have a price of $550/sf ($225/sf +$325/sf). Maybe that is close to $500/sf in your book, but not mine. Again this is assuming buying the cheapest lot. There is only one lot in WaterColor priced under $500K, and there are not many priced at that end of the price range. This scenerio also assumes that the min home size is 2,000sf. I would be curious to know the minimum sf home size allowed in Ph IV. Anyone know?

The other price scenero of using $500K for the lot would give you a price of $575 per sf.

In summary, I don't think it would be easy to build a home in WaterColor for $500/sf. Maybe Skier will sell you his for the right price. :idontno:
 
Looks like to my hubby (Watercolor builder) that they have included the price of the arch fee into the per sq ft price. If they are charging $325 per sq ft my husband says he will be HAPPY to build you a house and we do good work! :idontno:
 
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