| Even when the market is going well; I try to | | | | they build a home that they will sell for |
| stay away from the attitude that "somebody | | | | $1,000,000 or more... and when the market is |
| will eventually buy it". Builders sometimes | | | | down, they get stuck with it. If you are in |
| use the lowest priced building materials they | | | | this category, it would be wise to keep a few |
| can find and make the "cheapest" home they | | | | smaller projects going on as insurance. |
| can build... and then sometimes sell it for | | | | Affordable housing ($200k or less) is hard to |
| outrageous prices. Clients are looking for | | | | find. For example: Builders can have several |
| more than an affordable house. They are | | | | $1 million plus homes going up and also build |
| looking for a place that their family can | | | | a few affordable housing solutions at the |
| call home. Hardwood floors, ceramic tile, | | | | same time. I met a Builder / Developer in the |
| decent windows, and hardplank siding are just | | | | Weaverville North Carolina area that is |
| a few of the things that potential buyers | | | | sitting on a beautiful $800k home for over a |
| look for when they find a home they are | | | | year! I took a look at the home and it is |
| interested in. Landscaping is also important | | | | already getting old. The stucco must not be |
| because a first impression is worth more than | | | | installed properly, so it is molding on the |
| all the sales talk you can do. There are | | | | bottoms. The inside is immaculate, but no |
| several things that you can do to improve | | | | life. It was a big investment with no profit |
| your home without diminishing all of your | | | | as of yet. The Builder actually had to stop |
| profit. What about some gable accents or | | | | construction on several other projects |
| timber in the gables? What about a | | | | because of this problem. Be Careful! |
| contemporary paint scheme? All of us know | | | | |
| that many buyers are attracted to the kitchen | | | | With the many ups and downs of Real Estate it |
| and master bath. Spend a few extra thousand | | | | would be wise to target and plan excessively |
| dollars in these areas and watch your house | | | | before starting a spec construction project |
| sell much quicker than the other "standard" | | | | that you want to sell. We actually just |
| homes in the neighborhood. Drive around your | | | | finished a beautiful Cape Cod in a nice |
| town and see what others are doing. We went | | | | mountain cove in Weaverville North Carolina, |
| in a development called Mountain Air in | | | | about 15 minutes from Asheville. It sold |
| Burnsville North Carolina the other day and | | | | immediately. Yuriy, a client from earlier in |
| saw many beautiful homes. We ended up with | | | | the year, built a small ranch with a one car |
| about 6 new home ideas that cannot break the | | | | garage attached. Really simple, but he added |
| bank. | | | | some options, and it is under a contract for |
| | | | sale as I write this. Listen a little closer |
| Other times builders get stuck in the | | | | to the market and find out what it is asking |
| "Million Dollar Home Syndrome". This is where | | | | for. Then respond properly to the request! |