Builder ready to sell home at cost

[JoshMclean]

I have a home in Cypress Breeze that is an excellent deal. It's currently listed at $879,000. It appraised in December at $1,080,000. It's a 5BR/4BA with over 3,300 square feet. It is finished very nicely and has tons of storage space. To view a virtual tour of the home....RealEstateShows.com/61451 (http://www.realestateshows.com/61451). If you know of anyone looking, please let me know. Thanks guys.

[JoshMclean]

Sorry, my email is JMAC1982@aol.com. Email me if you have any questions.

[JoshMclean]

I'll be happy to meet you anytime to view the home. You will be impressed!

[JoshMclean]

http://www.sowal.com/bb/attachment.php?attachmentid=3572&stc=1&d=1169057979

[JoshMclean]

http://www.sowal.com/bb/attachment.php?attachmentid=3575&stc=1&d=1169058972

[JoshMclean]

http://www.sowal.com/bb/attachment.php?attachmentid=3576&stc=1&d=1169059042

[Smiling JOe]

I thought the word "dump" in today's market meant selling below cost. :idontno:

[JoshMclean]

Joe,
Dump could be used as selling below cost. It could also mean selling at cost when it is currently worth much more. If someone bought a home back in 2001 and sold it at the same price today I would say they are dumping it.
This home is currently listed at $262 a square foot. All comparable homes are $300+ per square foot. This price per square foot of course includes the price of the lot.

[Smiling JOe]

Joe,
Dump could be used as selling below cost. It could also mean selling at cost when it is currently worth much more. If someone bought a home back in 2001 and sold it at the same price today I would say they are dumping it.
This home is currently listed at $262 a square foot. All comparable homes are $300+ per square foot. This price per square foot of course includes the price of the lot.
The house looks great, and that is a lot of house for the price.

However, I fail to see your reasoning. First, a property is not worth more than someone is willing to pay for it. Second, your example is using a home bought in 2001, and I would agree with that statement that if it sold today at the same price as back in 2001, they are dumping it. However, this home was built 2006. I don't understand how your example works for this home.

Again, the house looks nice.

[Unplugged]

It's a beautiful house Josh - I wish you the best of luck selling it. I will keep it in mind for my clients.
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[Johnrudy]

It is a beautiful home - love it! Think positive. ;-)
Good luck!:clap_1:

[Franny]

I'm sure the builder purchased the lot for more that $195 and I believe Josh mentioned the builder would sell for what he had in the home. Times are a little tough right now and getting better but let's give the guy a break, he's working here folks, just my opinion.

[Johnrudy]

I'm sure the builder purchased the lot for more that $195 and I believe Josh mentioned the builder would sell for what he had in the home. Times are a little tough right now and getting better but let's give the guy a break, he's working here folks, just my opinion.
My sentiments exactly! :clap_1::clap_1:

[joho]

FYI:

The last sale in Cypress Breeze

3,625 sq ft

sale price $743,000

closing 9-11-06

$204 sq ft

All the bells and whistels...............

Good Luck

[Unplugged]

I'm sure the builder purchased the lot for more that $195 and I believe Josh mentioned the builder would sell for what he had in the home. Times are a little tough right now and getting better but let's give the guy a break, he's working here folks, just my opinion.That's right Franny! :clap_1:

Josh, I may contact you to have a closer look.
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[WhiskeyRiver]

Lovely house! Wish the better half and I could afford it and get out of Memphis! :bang:

[kurt]

I'm sure the builder purchased the lot for more that $195 and I believe Josh mentioned the builder would sell for what he had in the home. Times are a little tough right now and getting better but let's give the guy a break, he's working here folks, just my opinion.

That's right. I'll repeat. In threads about specific properties for sale we are trying to help people out. If there's an obvious problem with a post about a property and you feel the need to call someone out that's one thing. But personal opinions about a specific property or neighborhood are best left unsaid.

[JoshMclean]

Wow, thanks guys. Glad to see some more postive minded people around here. I haven't seen too many since I joined the board. I'm just trying to do my job. I'm also willing to add as much free advice to this board as possible. To Joho I believe it was. Good information on 33 Cherry Laurel. I sold that home in August of 2006. It is built by the same builder as 29 Basswood, which is my father. It is not in the same league as Basswood though. I have seen the numbers on building costs on both homes. We sold Cherry Laurel for $743,000 and it received an appraisal at $950,000 at that time. This home has an appraisal that is a month old at $1,080,000. Once again, thank you for your support guys.

[JoshMclean]

I have to post a pic of the beautiful Cypress Breeze pool just for Mermaid! This pool is around 14,000 square foot with 11 waterfalls. I believe it holds around 500,000 gallons of water and cost $4,000,000 to build.
http://www.sowal.com/bb/attachment.php?attachmentid=3593&stc=1&d=1169147966

[Smiling JOe]

I have said before the pool was open that kids will never want to go to the beach after playing in the pool. After being under construction for 2.5 years, maybe we will get a chance to see some kids playing in the pool this spring, rather than the guys were were building it.

[Mermaid]

I have to post a pic of the beautiful Cypress Breeze pool just for Mermaid! This pool is around 14,000 square foot with 11 waterfalls. I believe it holds around 500,000 gallons of water and cost $4,000,000 to build.
http://www.sowal.com/bb/attachment.php?attachmentid=3593&stc=1&d=1169147966


You know, of course, that beauty is in the eye of the beholder, but I will concur with SJ that it is indeed paradise to kids. I'm sure someone will think it's a great selling point. :clap_1:

[Camp Creek Kid]

I have said before the pool was open that kids will never want to go to the beach after playing in the pool. After being under construction for 2.5 years, maybe we will get a chance to see some kids playing in the pool this spring, rather than the guys were were building it.

My daughter had the chance to swim in that pool and it is indeed paradise.

[Smiling JOe]

My daughter had the chance to swim in that pool and it is indeed paradise.I am telling you that those houses in there are large enough for a whole heard of vacationers, and the ones located overlooking the pool will become hot items with time. Personally, I don't like the rock/boulder look of the pool, but that pool will keep kids entertained for their entire stay.

Little girl's reply to the teacher when asked how she liked her vacation at the beach, "The Pool was great!" Guarantee you. ;-)

Mermaid, you are right, beauty is in the eye of the beholder. I don't like Destin, but look at all of the people who do.

I think the location of Cypress Breeze is a good one, fairly centrally located and well away from the Gulf's edge. However, it is not too far down the bike path to get to the shops and restaurants in Gulf Place and Ed Walline Park which is one of the few public beach accesses with restrooms. When Cypress Breeze gets built out and vacationers begin to roll in, it will become more fun and probably won't look as funky as it does right now.

[JoshMclean]

I 100% agree with all of you. I know several people who don't like the pool, and several that do. I think it is in a great location and the prices are still relatively good for the location. Only time will tell ;-)

[kathydwells]

I would just like to say that the best "Pool" around is the Gulf of Mexico. It is more beautiful to me than any concrete pool around. That is not to say that I don't like to take a dip in clorine at the end of my beach day. But, all I need is about 5 feet of water to get wet in. And that is all I have to say about that.

[Tootsie]

haven't seen it in person, but that pool looks pretty amazing to me! :D

[Miss Kitty]

And now, I understand the Victorian lampposts. It is called Cypress Breeze Plantation! Who knew?

[JoshMclean]

You should try to find every single one of my posts and put a snide remark!.....oh, nevermind

[Miss Kitty]

You should try to find every single one of my posts and put a snide remark!.....oh, nevermind

:idontno: ...are you talking to me? I was being serious! I did not understand the Victorian lampposts dotting the pool area. Today, I was reading part of The Walton Sun and saw an ad. I never knew it was Cypress Breeze Plantation!

[Unplugged]

You should try to find every single one of my posts and put a snide remark!.....oh, nevermind
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:lolabove: :funn: :floor:

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Josh - got your PM, and will be in touch to possibly preview your listing for a client.

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[Bobby J]

:popcorn:

[JoshMclean]

Sue,
i sincerely apologize then. You said something in another one of my threads and then I saw this one minute later. I thought that you were being sarcastic. It's hard to tell when it's in writing. Sorry :blush:

[Miss Kitty]

That's okay, Joshy. Most of us are here to learn. I do hope the right person comes along for this house....it looks very nice.

[Kimmifunn]

I've seen a pool like that at a big house right off of Sunset. This guy named Hugh owns it. Hopefully security to the Cypress Breeze isn't as tough as the one I've been too.

I bet this pool has Doodle shaking in his boots. I won't lie. I check the progress of the grotto everytime I'm down. Guilty, party of 1.

[JoshMclean]

Price reduced to $849,000 today.

[robertsondavies]

edit <As mentioned earlier in this thread we don't editorialize about property for sale. But please feel free to start a new thread with your personal thoughts.>

[Franny]

:idontno: ...are you talking to me? I was being serious! I did not understand the Victorian lampposts dotting the pool area. Today, I was reading part of The Walton Sun and saw an ad. I never knew it was Cypress Breeze Plantation!

I knew what you meant Kitty.

[JoshMclean]

Price has been dropped to $799,000 on this home. :D

[bdc63]

Price has been dropped to $799,000 on this home. :D

Apparently he is now ready to sell below cost ... :rolling:

Certainly is a nice place. Good luck with it.

[JoshMclean]

Apparently he is now ready to sell below cost ... :rolling:

Certainly is a nice place. Good luck with it.

Seems to be the case!

[Babyblue]

Seems to be the case!

This is what is wrong with the market. I tell folks if you need to sell ,what do you need to get out. Get out means get out. Every time something drops, their price again, the buyers just sit back and wait. :eek:

[SHELLY]

This is what is wrong with the market. I tell folks if you need to sell ,what do you need to get out. Get out means get out. Every time something drops, their price again, the buyers just sit back and wait. :eek:


Please expand on the meaning of the phrase "Get out means get out"? :confused:

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[Babyblue]

Please expand on the meaning of the phrase "Get out means get out"? :confused:

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Like Bud Fox said in the movie ,Wall Street, "As your broker I advise you to sell, Gordon, do you wish to get out or stay in?"

[SHELLY]

Like Bud Fox said in the movie ,Wall Street, "As your broker I advise you to sell, Gordon, do you wish to get out or stay in?"

"Put that coffee down!! Coffee is for closers" (In Glengarry Glen Ross)


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[Babyblue]

"Put that coffee down!! Coffee is for closers" (In Glengarry Glen Ross)


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Oh so how, much, I miss movies from long ago. Todays movies stink.

[TooFarTampa]

Oh so how, much, I miss movies from long ago. Todays movies stink.

I agree with you, but Glengarry Glen Ross and Wall Street ... "long ago"? :shock:

[JoshMclean]

I would say the problem with the market is unrealistic sellers who think that their property has more value than it really does.

[GaltsGulch]

"Put that coffee down!! Coffee is for closers" (In Glengarry Glen Ross)


.

A-I-D-A. Get out there - you got the prospects coming in. You think the came in to get out of the rain? A guy don't wask on the lot lest he wants to buy. They're sitting out there waiting to give you their money. Are you gonna take it? Are you man enough to take it?

Second prize is a set of steak knives

[mf]

i actually wish we had a pool like that! i LOVE the ocean, but sometimes it's easier to enjoy the water with the kids in a pool!

[JoshMclean]

I was thinking about putting one in my back yard, but I believe it cost around $4,000,000. I may rethink that idea :roll:

[mf]

according to most realtors i know, alot of people are deciding to lose their deposit from pre-construction contracts or selling just to pay off the mortgage. right now the value of a house in this "market" is too volatile and really can only be judge by what someone else will pay for it at that moment. since there's TOO much inventory and not enough interest, the truth is the the only things that will sell in a market like this are bargains. it's about being willing to wait or willing to drop your price. pick one and feel ok about it.

i'm a little confused about some of the personal back and forth here. so far as i can see we're merely communicating information about the listings on this site and the local market here. i'm unsure why people are suggesting that this is somehow "personal". mellow out :cool:

[mf]

I was thinking about putting one in my back yard, but I believe it cost around $4,000,000. I may rethink that idea :roll:

if you do! give me a call! :lolabove: hehehehe!