‘Dollar per Foot‘ is the ERA of real estate. For you non-baseball fans, ERA stands for 'Earned Run Average' and it represents the number of runs a pitcher gives up per 9 inning game. For decades (if not centuries,) it represented the gold standards of comparative statistics in determining a pitcher's effectiveness. But then the data guys invaded the game and found a good many … [Read more...]
Beware the ‘Unique and Expensive’
"Make the permanent things in your new home universally appealing and have fun with things that are easy to change." Each time we watch a commercial from Lowe's or Home Depot, we see a home that looks great. From the color palate to the cabinet design to the floor finish ... it all looks so in line with today's trend it is scary. But remember, the commercial you just saw … [Read more...]
What Does the Lot Offer?
The ultimate appeal of real estate is that it is unique. And while in theory it is true, in reality, many lots differ little from one another. That said, spend some time not only in lot selection, but in understanding what the lot offers. Invest some time looking at the lot that you considering and try to find the characteristics that help make it unique. Sometimes a unique … [Read more...]
The Popular Plans
"Builders have popular plans for a reason. They can build them cheaper and the home functions better. Ask the builder which plans they like and then ask them 'why'?" You should always ask the builder not only what plan they like - but why they feel that way. Over time, all successful builders have found a plan (or several) with efficiencies in material use (means they … [Read more...]
What Does it Cost to Build a Home?
Obviously, these costs vary by size, style, area, overall conditions in the marketplace and a host of other considerations, but generally speaking, most home builders follow a version of this economic model. Builder Costs (21%) Sales Commissions Closing Costs Deferred Marketing Advertising Contingency General Administration Cost Profit Income … [Read more...]
