Do buyers want new homes anymore?

Real Estate Agent with Reece & Nichols

I am trying to help a developer sell some lots in Olathe, KS (near college & woodland).  The first plat consists of 17 lots, and about half of those lots have homes.  The lots are larger than usual, ranging in size from 13,000 s.f. to 17,000 s.f.  So far, the subdivision has a variety of floor plans and exterior elevations which gives it a "custom home" feel.  The homes have sold for $350,000 and up.  We have been talking to a builder who is contemplating building a spec. home on one of the larger walk out lots.  It is going to be a reverse 1.5 story with two bedrooms on the main level and over 2800 s.f. combined.  It will have 4 bedrooms, 3 baths, and 3 garages.  The price point will be in the low 300's depending on finishes.  Do you have any buyers that might be interested?  Or do you think there are too many resale homes to compete with it?

Comments (2)

Elizabeth Birmingham
EB Realty - Grand Junction, CO

A reverse floor-plan might be a hard sell. Maybe a family room upstairs to capture views would work. Many people want ranch style houses. They want their kids and entertain area on the same floor. 

Sep 20, 2011 02:54 AM
Lenn Harley
Lenn Harley,, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

In Leesburg, VA, 1 in every 7 homes sold for the first 6 months of this year were new construction. 

New homes are hot here and have been for 5 years.

Sep 20, 2011 03:05 AM