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Name:
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Maverick
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Subject:
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John C.
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Date:
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5/1/2007 12:12:16 AM
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John:
I am in fact a CPA myself, as are you, my point was lets see $564 sq foot vs. same sq foot for like $400, let see are the lot and house of the higher priced house worth $1.1 million more than the lower price house, did not see it at all.
Yes the higher price house had a better lot, but not double the price of the other 7,000 sq foot house. Yes the higher price house had some nice amenities, but again both combined not worth $1.1 million, etc.
My point was some of these builders are living in a fantasy world. I agree these houses probably cost in the neighborhood of around $200 or so per square foot, excluding the lot, but lets assume the higher price lot is worth $1.0 million which it is not. So the price of the house is then $2,950,000 / 7000 = $421.67 per square foot.. So estimated profit $221.67 x 7000 = $1,551,690 before commissions. Nice profit for around a years worth of work + carrying costs. And the carrying cost would be minimal if the home was priced within the market, as it is a very nice home and appeared not details where spared.
Actually wrote down Legacy Homes and Bob Harris (Lot 63) as builders I would like to speak with when I finally decide to tear down the cabin and build my private lake lodge / retirement home in about 20 years or so - LOL.
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