Calling The Bottom

[flyguy]

Re: The bottom has arrived

Hi Flyguy - Gin N Tonic on the deck overlooking the ocean at sunset? I have just separated from the Mr. and seriously think you could use a roommate to help share the expense of all those limes! Always thinking of others.....[/quote]

A gracious offer but Mrs. Flyguy (shown here) keeps me stocked in limes.

Flyguy

 

[fisher]

Re: The bottom has arrived

A new low for the major developments--a house in Watersound just sold for $800k or about $250 per square foot.

 

[pete23]

Re: The bottom has arrived

If you look at the details the house was a distress sale, It was also a short sale. The house was also unfinished. The buyer has to complete the house at an estimated cost to complet of $370,000.00. The sales price as is was $870,000.00. This is not a good comparable.

 

[Smiling JOe]

Re: The bottom has arrived

Thanks for pointing that out, pete23. I will also add that while the house is in WaterSound, it is the as close to 30A as they come in WS, and is the greatest distance to the beach.

 

[fisher]

Re: The bottom has arrived

If you look at the details the house was a distress sale, It was also a short sale. The house was also unfinished. The buyer has to complete the house at an estimated cost to complet of $370,000.00. The sales price as is was $870,000.00. This is not a good comparable.

I walked through the house recently. If it's gonna cost $370k to finish that house out, someone will be throwing their money down the toilet in finish costs. When I walked the house, it appeared to be 80% plus complete.

Regardless, I wasn't implying that this was a great comparable. Just pointing out a lowball, distress sale.

 

[Smiling JOe]

Re: The bottom has arrived

I haven't walked the house and do not know the estimated cost to complete the construction, other than what is written in the sale notes. I do know that the last 20% to go into a home, is often the most expensive -- flooring, cabinets, counters, fixtures, etc. In your opinion, fisher, what would it take to complete the house as designed? Also, will the new owners be using the same builder, or do you think that builder left being owed money for work completed?

 

[fisher]

Re: The bottom has arrived

I haven't walked the house and do not know the estimated cost to complete the construction, other than what is written in the sale notes. I do know that the last 20% to go into a home, is often the most expensive -- flooring, cabinets, counters, fixtures, etc. In your opinion, fisher, what would it take to complete the house as designed? Also, will the new owners be using the same builder, or do you think that builder left being owed money for work completed?

if i recall correctly, the wood floors were in, molding was up, etc. cabinets, lighting, plumbing fixtures, appliances and finish work might cost in the range of $100k to $150k.

just my opinion though based on nice finishes in my own homes.

 

[SHELLY]

Re: The bottom has arrived

if i recall correctly, the wood floors were in, molding was up, etc. cabinets, lighting, plumbing fixtures, appliances and finish work might cost in the range of $100k to $150k.

just my opinion though based on nice finishes in my own homes.

Are the granite countertops in?


.

 

[Smiling JOe]

Re: The bottom has arrived

I've seen $60K kitchen cabinets, with counters costing more, so I guess it all depends on the house. Was the Carriage House also needing to be completed?

 

[fisher]

Re: The bottom has arrived

I've seen $60K kitchen cabinets, with counters costing more, so I guess it all depends on the house. Was the Carriage House also needing to be completed?

before trying to pick a fight, go walk through the house like I did, then make your own estimate. i've gone through the building process on several nice houses. based on my experience with costs of those things, you could do a very, very nice finish on that house for $150k. nuff said.