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Happy February

February 1st, 2015 at 08:23 pm

Tonight, we are invited to a super bowl party. Neither my husband or I care about football, but we like parties.
Our spec house is finished. I am very disappointed in the price my real estate agent told me to list it for; $249,000. I have $260,000 in the house.

It is probably the only brand new house on the market around here. It is 3 bedrooms, 3 1/2 baths, with a family room with small kitchenette, in adddition to the other regular rooms. There is a garage, laundry room,lots of closet space, etc. The lot is over one acre, on a creek with a nice mountain view.
I am going to have to price it at, at least my cost to break even.
I received my first interest on MySavingsDirect account. It was $18 and change and I will add it to the $20 challenge.

Prev. total $3128.00
today 18.00
new total $3146.00

Posted in $20 Challenge | 4 Comments »

4 Responses to “Happy February”

  1. FrugalTexan75 Says:
    February 1st, 2015 at 10:33 pm 1422830003
    1422830003

    The house sounds really nice.

  2. VS_ozgirl Says:
    February 2nd, 2015 at 06:46 am 1422859598
    1422859598

    Sorry to hear about the value being lower than expected

  3. snafu Says:
    February 2nd, 2015 at 08:59 am 1422867569
    1422867569

    I wonder what points the agent priced lower than cost. Location? cost of taxes? cost per square foot? expensive finishes? high end appliances? What put the price up $ 10K higher than the specific market tolerance? Your husband always puts a lot of time, effort and expertise in his builds and he deserves to be paid well over the actual cost of materials. Has your area not fully recovered? Is financing still too difficult to get?

    How long are you comfortable carrying the new build? I hope you'll be surprised and have a terrific turnout for viewing.

  4. Ima saver Says:
    February 2nd, 2015 at 02:53 pm 1422888787
    1422888787

    snafu, Our area has not fully recovered yet; everyone is looking for bargains. All the agents say he is the best builder they have ever seen. That is the problem, he puts so much time and effort into his houses. They have to be perfect and problem free for the buyers. The location is very good, but the banks are appraising very low when it comes to financing.
    WE use our own cash to build houses, so we don't have to worry about making payments on a loan. We hope to at least break even on the house.

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