tag:blogger.com,1999:blog-3329419642567789295.post5454000904598044873..comments2023-10-30T06:49:13.259-07:00Comments on Larry Roberts real estate writing blog: The under 300s in Mission GroveLarry Robertshttp://www.blogger.com/profile/07551274023310137270noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3329419642567789295.post-63597683423290913102008-01-31T16:42:00.000-08:002008-01-31T16:42:00.000-08:00Another very interesting post on the Orangecrest a...Another very interesting post on the Orangecrest area!<BR/><BR/>Keep up the good work, especially in this area of the IE. What happens here symbolizes all of the IE.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-14866822643583280452008-01-31T14:34:00.000-08:002008-01-31T14:34:00.000-08:00What's the price for the "ready-to-build" land/lot...What's the price for the "ready-to-build" land/lot nowadays? For example, a 5,000-6,000 sf lot in Ontario, Riverside, Upland, Chino Hills?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-63689637789066882452008-01-31T12:30:00.000-08:002008-01-31T12:30:00.000-08:00It does not really matter what the builders paid f...It does not really matter what the builders paid for the land. That does not mean they can sell it for that. The market is the market, it does not matter what you paid, it only matters what you can get. Most sellers and to a lesser extent builders are having a real problem with that concept these days. If you've been following the news you will also be aware that most builders have already written down the value of thier land. They know it's worth less and they are taking that loss (tax write off, don't ya know).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-66953978524171825672008-01-31T11:10:00.000-08:002008-01-31T11:10:00.000-08:00You are correct on the costs but most of the buide...You are correct on the costs but most of the buiders paid much higher costs for the lots they own today than they did in the 90's. It was not uncommon for lots to be $200k to $400k. Yes, the price of lots has fallen dramatically but that does not help the builders that already own expensive lots. I doubt, very seriously that we will see $150k new homes any time soon. If we do they will be small and very high density (8 to 10 per acre).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-71273587782400014782008-01-31T08:58:00.000-08:002008-01-31T08:58:00.000-08:00Building costs vary wildly. A rebuild of a single ...Building costs vary wildly. A rebuild of a single home or a custom home will run significantly higher than a builder of a large tract. An "average quality" tract home costs between $40 and $60 s/f for building costs (less land and permits). A nicer quality home will run $60 to $80 and the higher end homes will go up form there. Building materials and labor have both fallen considerably over the last year. Drywall and most lumber are down about 30%. So those costs I quoted might be less now. According to many of the recent news reports I've seen, land costs have also fallen anyhwere from 50% to 80% in many areas. One of the larger builders just sold several thousand lots for 40% of what they paid.<BR/><BR/>With labor costing less, land costing less and materials costing less, building costs are not that much more today than they were in 2000. If the builders could sell homes for $150k in 2000 there is no reason they cannot sell them for close to that today.golfer_Xhttps://www.blogger.com/profile/08426050465032209520noreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-29413127293774659762008-01-31T08:22:00.000-08:002008-01-31T08:22:00.000-08:00A house also has a value based on what it would co...A house also has a value based on what it would cost to replace it. I would think that if the house is in excellent condition and the materials + labor + land cost are more than the current market value, due to the KABOOM, then you are looking at a relative bargain. So that begs the question... what are the sq. ft. building costs at this time for the categories of: low moderate, median, and higher end, new homes? Let's assume average size lots on all.Martin Burtinhttps://www.blogger.com/profile/01506934069894903418noreply@blogger.com