I own Chambers Street Builders, Inc. I have built about 100 buildings in the area and know precisely how much it costs to build homes here. If you look at our site www.ChambersStreetBuilders.net you will find pricing models. Our model #7 was just built and sold in WaterSound Beach.
Hi Lou, thanks for asking the question--there really isn't a "percentage" that really could be used, since if you look at averages, it eliminates special circumstances of a property. I am telling my buyers to "make an offer" using the guidance of a comparative market analysis of like properties in the area. This seems to be far more accurate than making a blanket percentage. Sometimes, if the property is priced right, it sells at the asking price. Two weeks ago I successfully brokered a deal on a foreclosure for 10,000 over the asking price on a foreclosure, and if we had offered the "asking" price, we wouldn't have gotten the home--there were four offers on it in two days, and afterword in talking with the listing agent, everyone else offered at or below the asking price! I would be happy to run a comparative analysis for you and tell you what a specific property might be sold at. That is also the information that an appraiser will look at for financing. I hope this is helpful!!
Myke Triebold, GRI, CNAS
www.MykeTriebold.com or DestinHomeSale.com... more