Lake Martin Topics: Builders 250-400/sf

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	Name:	water_watcher -
	Subject:	Builders 250-400/sf
	Date:	1/29/2009 7:14:41 AM

There is no way the homes at the Ridge were built for $65-$100 a SF. As others have said, you can build a very nice home for $125 a SF ... but it will not have all the extra's you see in the homes at the Ridge. Most are top end quality. My guess is most homes at the Ridge have a minimum builders cost of $175 a SF depending on size and extras (fluff). I would say some easily cost $200 to $25 a SF. That is why some that have not sold they are not moving off the $1.3 to $1.7 million price (of course land is in that as well).

My wife and I were at the club house at the Ridge last weekend and talking with the RE agent. She told us they sold 4 high end homes in January and they are getting a lot more interest with the low mortgage rates. She felt things are really picking up. She also told us the Russell Lands will be starting the next phase this spring. Since it will be at least 18 months from the start of the phase before houses are finished, that should hopefully be good timing with the economy. She also said that "several" lots in that phase have already been presold.

I had thought the townhomes that go for $700-$800,000 were having problems. But she said there are only 4 that are unsold and 2 resales. That is not bad.