Wednesday, December 31, 2008

market comps



Looks like the major player in Parkland is Heritage Homes. Here's what they are selling for 400K. Nothing too exciting- but they provide the full component of downstairs rooms, i.e. formal living, dining, and study.- When you shop builders for comps, its always best to use an inventory home. That way you don't have to figure out how many extras have to be added in to the base price to come up with the actual selling price. Here you get 2843 s.f. My 2200 sf house has to compare favorably to this. I've done some basic math and have a game plan. 40x24x2floors will get me 1920 s.f. I want at least 200-300 over the garage so that's about as big an envelope as I want to play with. I'll want an offset at the front and rear to give me some massing options. I've got one of 2 ways to attack this problem, either keep the full room inventory and make micro-sized rooms which borrow from each other spatially, or keep the number of spaces to a minimum and let them stretch out a little more. My inclination is to go the latter route, again to differentiate this product from the usual developer fare. I'll need a kitchen/dining area, a living area, and a 3rd-flex area which can be used as formal dining, study, or 2nd downstairs living space, depending on the buyer's needs. My first stab is something like this.

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