As the daughter of a 35+ year developer/builder and veteran of the real estate market, I find price per sq. ft. (PPSF) is important to defend.
In the summer of 2012, my family started building homes in Cedar Springs. Cedar Springs is an eastside Bloomington neighborhood minutes to IU, Downtown, specialized grocery stores and don’t forget Target. http://www.liveatcedarsprings.com
The lots range from quarter to half acre, offer a generous surround of mature trees, creek, waterfall, street lighting, high speed internet, all the good stuff.
Cedar Springs has been in our family since my great grandfather came home from WWI and worked for the Showers Bros Furniture Factory. (He actually worked for Nurre Mirror as a glass cutter.) Nurre was the first company to develop glass backboards for basketball courts.
Overall our family has been in the area for over eight generations. The thought of people moving after graduating, relocating for a job, etc. does not effect our mindset. Bloomington can be a transit town. The university attracts people. They move for a job. Their job gets moved. A company in Bloomington is created. Jobs are created. I’m amazed at the number of homes rented or sold in a year.
When a home is put on the market, it gets broadcasted all over the internet and auto populated with all kinds of data. The assessed value. Ugh. The what you paid for it when you bought it. Great. School ratings. A walkable score. Crimes reported in the area. Your home has suddenly become a Wikipedia article for the world to see.
When I see buyers offering an all vinyl sided PPSF offer on an all brick custom home, I get an eye roll from the seller. Also, “Do I even counter this offer?”
Yep. As much as I know about real estate and construction materials, the building process may not be known by the buyer or their agent. Sometimes they need a little nudge back about why their offer isn’t being accepted.
There are several things that make up a value of the home. The cost of materials. Brick, Stone, Hardiplank, and Stucco are more expensive products compared to vinyl. If you have a piece of vinyl next to a brick on a hot summer day, flip them over and tell me which one is hot. The vinyl is.
The sizes of kitchen and cabinetry packages can add or subtract to the homes value. Small kitchen, less cabinets, countertops to buy. Cabinets come in different grade with plywood to solid wood shelving. Countertops can be laminate, quartz, granite. Point being, there are lot of ways to defend your PPSF if your agent knows building materials and the differences in quality.
Amanda Richardson, Realtor in Bloomington http://www.callbloomingtonhome.com
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