Watercolor

[George]

Some where in the high 400's per square foot in WaterColor seems about right to me right now. When you look at current (not past) lot prices plus the current (not past) cost to build plus a premium for getting plans through the DRB and incurring the hassle associated with building a home, I think high $400's per square foot seems about right. I would say low to mid $500's per square foot in WaterColor seems about right for Phase I.

Any thoughts on this?

 

[George]

Do any of the realtors or other professionals on this board have any thoughts on my last post on this topic?

 

[quartz sand]

Since Aug08 quite a few homes in the various areas of Watercolor have had Lis Pendens Pre-foreclosure filings filed with Clerk of Courts. Has anyone followed up on these? Are the banks holding them? If any have sold what was the $/sqft range?

PS-I'll get the lot #s if someone will check the status.

 

[Chickpea]

Some where in the high 400's per square foot in WaterColor seems about right to me right now. When you look at current (not past) lot prices plus the current (not past) cost to build plus a premium for getting plans through the DRB and incurring the hassle associated with building a home, I think high $400's per square foot seems about right. I would say low to mid $500's per square foot in WaterColor seems about right for Phase I.

Any thoughts on this?

One needs to be very careful when talking about s.f costs because it is important to know and understand what this entails and includes. Is it cost divided by gross s.f? Is it cost divided by net s.f? How are garages, porches, balconies, etc counted? Are soft costs rolled in? What about tap fees? Permit fees? Printing costs? Is GC involved and does number include O & P, etc. etc.....

This is especially prescient when one is comparing costs between different builders or even against different communities.

And a HUGE number depends on interior finishes - one can add a lot or cut a lot depending on choices.

Hope this helps a bit. Thanks

 

[Matt J]

Net and Gross square footage?

The common terms are:

Total - The total square footage of the building. Including all interior spaces, garages, porches, etc.
Under Roof - The total square footage of the building covered by a roof. Includes all of the above as long as it is under the roof.
Heated - The total square footage of the heated/cooled space. Usually the above minus garages and porches.

 

[Chickpea]

Net and Gross square footage?

The common terms are:

Total - The total square footage of the building. Including all interior spaces, garages, porches, etc.
Under Roof - The total square footage of the building covered by a roof. Includes all of the above as long as it is under the roof.
Heated - The total square footage of the heated/cooled space. Usually the above minus garages and porches.

Many builders use gross and net when talking about sq.ft. costs.

In addition, many architects and builders assign different costs to conditioned space (heated and cooled as you say) and spaces such as garages and porches, loggias, galleries, etc.. are NOT calculated as such but rather as a percentage of conditioned space. Under roof is too vague as many spaces may indeed be covered but not conditioned and therefore not as $$$$.

Thanks

 

[SHELLY]

One needs to be very careful when talking about s.f costs because it is important to know and understand what this entails and includes. Is it cost divided by gross s.f? Is it cost divided by net s.f?

I think the emphasis on the "cost per square foot" came from investulators using it as a way to keep score. "I paid $200 per square foot last month and sold it for $350 yesterday."

Unless you are are sizing up the price of the "Cookie Cutter II Model" at Vinyl Village or Stucco City the "cost per square foot" pretty much means nothing.

.

 

[Chickpea]

Unless you are are sizing up the price of the "Cookie Cutter II Model" at Vinyl Village or Stucco City the "cost per square foot" pretty much means nothing.

.

Agreed wholeheartedly.

 

[Matt J]

I think the emphasis on the "cost per square foot" came from investulators using it as a way to keep score. "I paid $200 per square foot last month and sold it for $350 yesterday."

Unless you are are sizing up the price of the "Cookie Cutter II Model" at Vinyl Village or Stucco City the "cost per square foot" pretty much means nothing.

.

This is true as you could have a 2000 sq ft home with high end appliances, granite counter tops, lots of upgrades and the house runs $200/sq ft. Then you have a 4000 square foot home with no extras, cheap paint, and no frills for the same price or less per sq ft.

 

[tsutcli]

There was an auction in Watercolor recently of quite a few properties all owned by the same entity. One was a property on Western Lake Drive in Phase 2 ( a 4 BR ) that drew a final bid of $760,000 ( about $275/ ft ), which was rejected by the bank. FYI