Quote:
Originally Posted by 101159
My agent gave me the price-per-sq-footage to gauge as a realistic measure of what houses are really worth in CG. Lots of the new builder homes (like the two over on Scottswood) are bringing that price down now, last month I averaged all of the houses for sale in CG vs. sold/closed houses, and the average price (to begin negotiating from) was $115 sq. ft. I think when the new phase is finished (and it is amazing to see how fast it progresses) the market there will be more stable, and demand will rise again. I am curious to know why a buyer who just closed in September would already be selling - it would be so hard to flip a house when all of those discounted builder homes are competing...
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I don`t know why the person in the new phase who complete with Drees last September is selling. Probably job relocation, divorce or something unexpected like that. Nobody buys new and then sells within 3 months. They will have hard time selling for anything near what they paid since alot of design center items have no intrinsic resale. At least structural items (like screen porch, extra garage etc) probably keep most if not all their value. Shame when it happens.
I can see your point about the average price being lower, however I don`t believe it is just those two new ones on Scottswood. Most new homes being build are below $400K (including some spec Drees - Bellmeade near the model for example). Most of those for existing homes for sale are over $400K, sometimes by a lot. This makes it hard to sell when people when the key factors are location, size and price.
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