We shall see. I haven't been too far off yet on the real estate meltdown.;-)
I think the ultimate big difference is Cassine is almost built out where Cypress and The Preserve, etc are saturated with vacant lots.
We shall see. I haven't been too far off yet on the real estate meltdown.;-)
I think the ultimate big difference is Cassine is almost built out where Cypress and The Preserve, etc are saturated with vacant lots.
That and the overall location. I can guarantee you would have vastly different buyers in both locations. Not financially, but what they are looking for.
I agree with you. But, the point I was trying to make is that prices for raw lots are plummeting. BOTH of these developments now have lots going for $100k and lower. And, yes Cypress has much, much nicer homes and amenities than Cassine, but a longer distance to the beach. Bottom line, lot prices (and soon home prices too) are falling to 2000ish levels with farther to go.
I'm seeing it the same as Fisher on this one.
I am not really sure what there is to see on this one. This all began with us talking about selling homes for under the replacement values. Which we have been doing all year long. Fisher then asked for proof in which he was given several examples. Then we started comparing Cassine to Cypress and The Preserve which is really hard to do because Cassine is an established almost built out neighborhood and the others are a bunch of vacant lots. I agree things will get worse in certain areas especially areas that were built on pure speculation. So are we talking about it getting worse? Or are we talking about replacement cost? Or are we talking about similarities between Cassine, Preserve and Cypress Dunes? BTW, when I sell a property one of the first questions a buyer ask is can you walk to the beach? We call it the toddler test.
I am not really sure what there is to see on this one. This all began with us talking about selling homes for under the replacement values. Which we have been doing all year long. Fisher then asked for proof in which he was given several examples. Then we started comparing Cassine to Cypress and The Preserve which is really hard to do because Cassine is an established almost built out neighborhood and the others are a bunch of vacant lots. I agree things will get worse in certain areas especially areas that were built on pure speculation. So are we talking about it getting worse? Or are we talking about replacement cost? Or are we talking about similarities between Cassine, Preserve and Cypress Dunes? BTW, when I sell a property one of the first questions a buyer ask is can you walk to the beach? We call it the toddler test.
With all due respect (as you appear to be a nice person and good realtor), you haven't yet shown a house that sold for below replacement cost. In addition, the argument that Cassine somehow holds more value than Cypress Dunes and The Preserve doesn't pass the sniff test.
One question, which subdivision out of those three has seen the lowest sales price (both in terms of real dollars and dollars per square foot) over the last year or so? You got it, Cassine.
That's why we started talking about some of these other things, to use some facts to analyze the "lower than replacement cost" theory. So, far, no facts to back it up the lower than replacement cost theory.