WaterSound for 69k

[fisher]

The lot was 289,000
The house is 4 Bed and 4 Bath 2450 sq ft HVAC
The firm made about 100,000
The house cost us about 135 per ft
We self performed most of the work
The kitchen and baths are all solid surface granite or marble
Wood floors everywhere
The appliances were Viking
In the real world that is what construction goes for. Granted, I didn't get to drive around in a pretty truck all day waving and smiling. It's a new day in construction and the sooner builders realize this the sooner they'll get back to work.

wow--very good price per square foot and 110 days--pretty impressive. if you haven't been getting many calls for work lately, you should be soon after posting those figures.

based on your numbers, people could do nice 2500 sq ft custom homes in WC, WS, etc for $450k plus lot. i may be giving you a call as soon as the better lots fall to below $200k, and they will soon enough.

 

[AAbsolute]

It's nice to hear someone say something positive, but our company has chosen to try and build homes that we own or have a partnership equity position in. We have built homes in 85 days which sold immediately after CO with a reasonable profit and have custom homes that take more than 2 years where we don't earn a dime and neither party is happy.

We understand that we just aren't the type of builder who can work within the framework of agonizing over each decision. Add to that that we have had 5 customers go into some form of mortgage loss mitigation during construction in recent times and we feel everyone would be better off if we built as smart a project as we could with our own funds, that's in our design control, and see if the market wants it or not.

I have to say that JOE has the best land product that I've seen for the money, and I don't know how competing developers are going to stay in business against them without some force majeure.

 

[elgordoboy]

The lot was 289,000
The house is 4 Bed and 4 Bath 2450 sq ft HVAC
The firm made about 100,000
The house cost us about 135 per ft
We self performed most of the work
The kitchen and baths are all solid surface granite or marble
Wood floors everywhere
The appliances were Viking
In the real world that is what construction goes for. Granted, I didn't get to drive around in a pretty truck all day waving and smiling. It's a new day in construction and the sooner builders realize this the sooner they'll get back to work.

How large is "the firm"? And by "self performing most of the work " are you very limited in the amount of work you can tackle at once? I read this and remember some guys I worked for in Blue Ridge in GA. They built 80% of the house themselves i.e. framing, roofing, trim, siding, flooring etc. They took themselves off the market for quite some time too doing all the work on just one project.

 

[AAbsolute]

We can only build 2 houses every 110 days or so and that's if we self perform and make the design decisions in advance. We have built over 20 homes in a year, but it takes 5 times as many workers and costs go up instead of down.

I think most builders would agree that you could take the 2 houses every 110 days and ramp it up to 5 houses every 110 days if material selection was in your control. You'd also have to have internal control of the schedule increase. If so, a builder could self perform and still control costs.

We have performed shell work for builders who do over 150 homes a year. Those builders aren't Watersound/Watercolor/Rosemary homebuilders though.