Eagle Idaho Residential Development opportunity (almost complete) Auction Date Oct 8

Lenn,

The final plat has not been approved on this yet; however the improvements are about 90% complete.  Most utilities are in, streets are paved, sidewalks are in, etc.

Two years ago, half acre lots in this area sold for about $200k.  The buyer will still need to finish out the landscaping, exterior fencing, street lights and pressurized irrigation and get all the sign offs for the final plat approval.

Even if the buyer projected to sell lots out at only $75k each and estimated way high at $10k per lot to finish off the improvements and carrying costs, they could still bid $1,000,000 plus the 10% buyer premium and have almost $400k profit left.

I envision the homes selling when complete at about $350K and be priced sell enough due to the lot pricing that they will be able to effectively compete with short sales in the area that paid $200k for their lots.

This property did sell at auction. It was fun driving by it the other day and seeing the Christmas Trees in the windows and colorful lights on some of the brand new homes that have been built in this community.  There were four homes still under construction which is great to see in Eagle Idaho this time of year too.

There are still a few nice half acre lots for sale that we can build custom homes on if you are interested!