SW Home Prices

I stopped by the new VM "Emerson" model in SW last night. Base price as of today is $785K. They have sold about 12-15 SFHs, mostly Emersons, in the new section now being graded out at the south end of Clairborne Pkway.

My conclusion as a current SW SFH owner - prices have not collapsed, and new homes are still selling reasonably well at that price level.

 

That is good to hear as a homeowner in SW. However, aren't they still giving new buyers tons of upgrades for free or at discounted prices. Thus, they are getting alot more for their "base price "

 

Right - the base probably includes more than we got within our base prices of some years ago. But if I compare what I paid in total - with upgrades - for a Fitz II, its still significantly less than the base price they're getting now, whatever is included, for a comparable house.

I'm just as impressed by the fact that they've sold probably 25-30% of the available lots in that section already.

 

Try negotating with them on the price for just two minutes and you'll see how desparate they are to sell and how low they will easily go. Its not like a couple yrs ago when builders wouldn't budge on prices. Every house I've looked at had a ton of extras thrown in for free, discounts on prices and so on. I bet you can knock off $50 thousand with harldy any effort

 

i still remember when they told me they were putting their "Broadmoor" townhome model on the market at $805K (after we got duped and bought one). the person who ended up in the house got quite a deal, b/c tye paid almost $200K less than the asking price!

boy did i get bent over

 

In spite of what is happening today. In five to ten years with the mega commercial projects and metro rail coming to our part of town the prices will go up 50 to 100 percent in tens years or less.

Believe it or not we will be living close in soon.

Hopefully these flex space projects go away soon, as they cheapen the area and bring in low paying jobs and some crime. A lot of valuable land is being eaten up for small immediate profits by these absolutely ugly ugly projects and hurt the development of class A projects.

Lee j

 

Exactly what I suggested in an earlier thread about the metro. But I disagree about the increase in property values. Depending on where you live near the metro values can take a significant nose dive. As for crime and all the dissenters out there - where you have higher concentrations of people there is always going to be more crime statistically and I've omitting "gated" communities - I'm referring to mixed use communities laden with homes and mult-use complexes/businesses.

 

According to Pat Leader at the SW HOA Annual Meeting, they have contracts on 102 of the 142 avaiable lots left in SW.

 

Are you inferring this from what was told at the annual SWHOA meeting. I thought what she conveyed in the meeting was based on the previous #s (# of homes VM was able to sell / year) and said they are projecting to have 38 lots after end of year 2007.