My husband builds houses and we have been building spec houses for the last few years.
We just lowered the price of the spec house that we put on the market several months ago. It was listed for $272,000; we have lowered it to $250,000.
I watch the tv show about all the homes for sale, and I wonder why this one is not selling. I saw a terrible looking house, needing lots of repairs, for sale in queens, n.y. for $980,000. I guess the word is location, location, location!
This house is located in the beautiful mountains of north georgia. It has 3 bedrooms, 3 1/2 baths, rec room with kitchenette, laundry room, etc.
We have only had one serious looker. They were a young couple and could not get a mortgage due to their high student loan debt.
I might also mention that the home is brand new, has a mountain view and is on a creek.
We have $245,000 in the house, so after realtor comission, we would be selling at a loss. I guess everyone is looking for a bargain, but it makes me wonder if we should continue building spec houses.
My husband prefers it cause he can draw the plans and build it the way he wants to. (It has to be perfect, or he is not happy)
We have already started a second spec house, but it will be cheaper. People seem to want something in the $200,000 range, so this will be a two bedroom, two bath cabin, with a killer view. (and lake access)
What are new houses going for in your neck of the woods?
Lowered the price on the house
June 6th, 2015 at 06:57 pm
June 6th, 2015 at 07:37 pm 1433619441
June 6th, 2015 at 08:23 pm 1433622215
June 6th, 2015 at 08:52 pm 1433623946
June 6th, 2015 at 09:29 pm 1433626153
June 6th, 2015 at 11:31 pm 1433633496
Our house has sold twice and the first day on the market. A home just across the street is two years newer, just slightly bigger, but with granite and a very contemporary finishes listed before ours by owner, then by an agent. It is still for sale. It backs up to farm grain bins, so the view isn't one most would probably like. It's a corner lot. It was purchased about 14 months ago for $282,700. The listed it in February for 309,900. The price has now been dropped to $265K. So why isn't it selling? Not a clue. It actually finally seems priced right.
June 7th, 2015 at 03:59 pm 1433692796