Home building permit (Huntsville, Madison: house, neighborhood, buyer)

[HB2HSV]

The Huntsville Times publishes home building permits by the builder, address, and price. I am thinking that's a pretty good source for a 'poor man's comp'. My question is what does that published price mean? Is that the selling price of the property?

[milledj]

I believe that is the estimated price of the job.

[HB2HSV]

Originally Posted by milledj

I believe that is the estimated price of the job.

Thanks Milledj. So it it not the purchase price by the buyer?

[djmaxwell]

Originally Posted by HB2HSV

Thanks Milledj. So it it not the purchase price by the buyer?

No. I don't believe it is even close. When our house in Huntsville showed up in the paper, it was somewhere in the neighborhood of 15% of the purchase price. Also, Huntsville, Madison, and Madison CO all compute the number differently. It may be a way to measure the relative cost between locations and builders within the same jurisdiction, but I don't believe it will tell you anything about the purchase price.

[milledj]

I don't know how it could be related to the purchase price, since many times the house hasn't closed or sold yet (spec homes), and you have to have a $ amount even on repair work and remodelling, which wouldn't have a purchase price at all.