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Old 07-17-2011, 03:53 PM
 
Location: Madison, AL
296 posts, read 694,013 times
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Darlington had two new homes close in the last two weeks; maybe the market is picking up. Only 25 lots left.
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Old 07-17-2011, 09:08 PM
 
445 posts, read 770,884 times
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Quote:
Originally Posted by Marc45002 View Post
Darlington had two new homes close in the last two weeks; maybe the market is picking up. Only 25 lots left.

Did that Tommy Walker house finally sell?
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Old 07-18-2011, 05:10 PM
 
Location: Madison, AL
296 posts, read 694,013 times
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Quote:
Originally Posted by CP79 View Post
Did that Tommy Walker house finally sell?
If you mean the new one story home at 116 Ramsbrook, no. The house at 101 Sonoma sold; I believe it was built by Randy Hymas but I may be wrong.
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Old 07-19-2011, 01:52 PM
 
13 posts, read 93,419 times
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It's been my observation that as a rule builders/general contractors aren't always the smartest and most business savvy people. Living on the coast of Florida, we had the real estate boom starting back in the early 2000's, it lasting for about 5 or 6 years and then went flat. The housing costs litterally doubled during that time and they desecrated our beautiful beaches with dozens of new high rise condos, many of which went belly up when they didn't sell the units. People were running out left and right getting their real estate license with the intent of getting rich quick, we had more realtors than people waiting tables down here. All those thousands of people that were supposed to migrate or buy in this area never did. That was several years ago and we still have hundreds of condo units that are unsold or in some sort of legal limbo. Not being in the business field per say, and just from casual observation I remember commenting on several occasions that there is no way the local population would support all the new building and that the housing market would turn around in a few years which it has. You can now buy a short sale that was going for 250K a few years back for between 50-80K. 500K condos are going for 75K at auction ect.It's entirely a buyers market here now and people are giving their houses away so to speak. Lot's of subdivisions that never finished either with one or two houses built in the community and dozens of empty lots. I wonder if these builders think about these things when they see the dollar signs or just jump into it head first. The positive side is you'll probably be able to buy a new house in one of those subdivisions for dirt cheap not too long from now.

Last edited by Loves2Run; 07-19-2011 at 02:07 PM..
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Old 08-03-2011, 10:45 PM
 
3,804 posts, read 6,172,700 times
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Quote:
Originally Posted by jkratze1 View Post
Never thought of it that way.
Well thanks for the snide reply, but can anyone explain this to me? Why would a house be worth more if it is surrounded by a bunch of homes crammed onto quarter acre lots than it would be if it was surrounded by open land?
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Old 08-04-2011, 10:50 AM
 
159 posts, read 383,000 times
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Quote:
Originally Posted by AuburnAL View Post
Well thanks for the snide reply, but can anyone explain this to me? Why would a house be worth more if it is surrounded by a bunch of homes crammed onto quarter acre lots than it would be if it was surrounded by open land?
Auburn, I think it depends. Who owns all that open land? If it's the builder, then I would be concerned more so than interested, since the builder may sell the lots off to a cheaper home builder.
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Old 08-06-2011, 05:00 PM
 
Location: Huntsville, AL
30 posts, read 92,293 times
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Default Fact

Quote:
Originally Posted by AuburnAL View Post
Well thanks for the snide reply, but can anyone explain this to me? Why would a house be worth more if it is surrounded by a bunch of homes crammed onto quarter acre lots than it would be if it was surrounded by open land?
Those bunch of homes have a sales price higher than open land. Appraised value of a home is dictated by comparable sales in the n'hood. An acre of land sells for less than two nice homes that are built on that area divided into.
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Old 08-07-2011, 08:08 PM
 
3,804 posts, read 6,172,700 times
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Quote:
Originally Posted by hsvgirl View Post
Those bunch of homes have a sales price higher than open land. Appraised value of a home is dictated by comparable sales in the n'hood.
If surrounding lots are low priced because you are living in a ghetto then sure that will be a major drag on your home's price (especially if it is significantly more valuable when considered by itself than the surrounding homes). However, I am somewhat dubious that that has any serious effect when you're considering open land since the only negative is the possibility it will be built into less than desirable buildings, but that is offset by the possibility that it will be built into desirable buildings.

Quote:
An acre of land sells for less than two nice homes that are built on that area divided into.
That's because the houses themselves have an intrinsic value from the materials and labor used to build them that is added to the value of the land itself. If you maxed value simply by cramming more dwellings closer together you'd see a lot more multistory condos and townhouses going up.
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Old 11-10-2011, 06:51 PM
 
Location: Madison, AL
296 posts, read 694,013 times
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Does anyone know anything about Savvy Homes. They are a North Carolina home builder that has just bought a number of lots in Darlington and Creekside. From the little info on their website, I am concerned that they might be building homes that don't conform to the "current" covenants nor local norms (siding vs brick). They have started four homes in Darlington all of good size but significantly cheaper per square foot that existing homes. Also concerned that they might put in front entry instead of side entry garages like every other house in subdivision.

Any info would be appreciated.

thanks,

Marc
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Old 11-10-2011, 07:01 PM
 
482 posts, read 990,928 times
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Quote:
Originally Posted by Marc45002 View Post
Does anyone know anything about Savvy Homes. They are a North Carolina home builder that has just bought a number of lots in Darlington and Creekside. From the little info on their website, I am concerned that they might be building homes that don't conform to the "current" covenants nor local norms (siding vs brick). They have started four homes in Darlington all of good size but significantly cheaper per square foot that existing homes. Also concerned that they might put in front entry instead of side entry garages like every other house in subdivision.

Any info would be appreciated.

thanks,

Marc
I haven't personally seen the homes yet, but I know of the company. Everything that I've heard has been good. Supposedly, they put nice amenities in their homes (granite, etc) and build a quality home. I think one of the owners has ownership in Mossy Oak (the clothing company, not the builder in East Limestone).

I don't know much more than that...
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