Logan Martin Lake Topics: Lakefront Lot for $99k
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Name:
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LifeTime Laker
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Subject:
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Lakefront Lot for $99k
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Date:
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9/20/2007 12:58:18 PM
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Building costs are high feb, but I think grossly inflated around the lake. There is no way you have to spen $250sf to build a nice home. That is what a lot of these homes are being priced at, and that doesn't include the dirt. If you insist on imprting builders from B'ham, Mont. or elsewhere natutally your costs go up. You pay a lot of high priced labor to drive. There are enough contractors locally, both good and bad, that there is no reason to import them. Builders, like anybody else, will charge 'whatever the traffic will bear'. If you hire them to build in the Ridge, they look around and figure they can charge that kind of price.
I disagree about the lower end stuff dropping off. From what I see and hear, it is the lower end stuff (under 500K) that is moving and the high end that is stagnant. The high end builder spec homes in particular. What is suffering is the midrange (500 - 1mil). A lot of these were just small "cabins" that flippers bought back in 04-05 for 3-400k, spent 30-50k 'remodeling and updating' and then went back on the market at 700-800K.
Of course this is just my opinion form observations and conversations with folks. I would be interested to get John C.'s opinion on this.
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