Quote:
Originally Posted by vintageogauge
Expensive new homes are not being build as spec homes. If you look at their site you will see there are only one or two homes over $500,000.00 then compare that to a host of homes well over $500,000.00 to well over 1 million.. If a buyer want's a larger home on a premium lot they have to build one and be lucky enough to get a lot large enough when they are released or buy a pre-owned home. The average selling price of new homes is lower because there are no expensive homes on the market, and there are many expensive pre-owned homes for sale, nothing to do with pre-owned homes having made improvements.
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Not enough to impact the average but there's at least two spec homes under construction in Wellpoint with pools and birdcage, one overlooks a golf course. Will be interesting to see what those sell for.
There's already 100's of homes under construction, (many complete) in Richmond and Wellpoint that may sell quickly.
So I suspect Q3 may look even stronger.