Custom Homes. Housing junkie-builder-broker, roadie for my cool kids, rock bassist... younger than 1/2 of Motley Crue. Used to work with real rocket scientists.
@shawngorham
don't compete w lipstick flippers... there is no limit to lack of care & bs the highest bidder will do to compensate.
seen too much.
instead find the heavy rehabs... fewer buyers
Business introduction for new & old followers.
We build custom homes as GC for clients.
Mostly this involves a lot of organizing & counseling owners to make decisions that create their dream without damaging their life. 3+ decades.
We also build spec customs, flips &…
@girdley
Trade contractors & fab shops we work with are now changing their attitudes towards no vax after getting hit hard the last few months w huge sick leave costs combined with lost revenues due to
#COVID
.
@girdley
The fab shop (glass) lost all installers for 2 weeks & they're now drifting back each working approx 50% productivity. Estimated $10k/day lost revenue + $3-4k sick pay/day plus continued overhead & support staff. Ouch.
PSA
Your remodel will cost more than the sponsored HGTV show filmed 5 years ago in the town you don't recognize.
Prolly 2X. 1/2 due to inflation, 1/2 to location. just a WAG.
Tile contractor learned to manage his work more profitably, refused to engage in a 7000sf job until the owner ordered & paid for 100% of the materials. After 3-4 months of talking after drywall, owner committed & ordered.
Client refused to hire GC to rescue abandon project at…
Construction sites will be thinly staffed this week
1. many suppliers are closed for the week
2. workers w family south of the border are often gone for up to 2 weeks
3. a few who committed didn't get permission from the boss at home
4. inspections & plan check - you must be new…
Comparable
#lumber
costs during the 1st price spike of 2021 here is some data from a 3 level 5000sf home we built (7500sf of structures as Artem Tepler would have reminded us):
Repriced lumber list for home frame started May 1 '21
2021 - $166,000
2024 - $ 96,000
60% of the…
Questions every builder gets asked:
"What's your cost per foot"
- a range depending on complexity & finish
"When are costs going down?"
- October...... 2008
"When can we move in?"
- usually about 90-120 days after those seemingly unimportant "little" decisions are finalized,…
Questions every lender gets asked;
“You still doing mortgages at 8%?”
- they’re not.
Followed by everyone telling you “My FICO is 860”
- it’s not.
And they have a 2% rate.
- they don’t.
Just smile back and grab another drink.
Ready for "Frame" inspection Friday (MEP & some framing). Permitted Oct 22, "sheet/shear" inspection Jan 23 during a 2 hour rain break. OK progress for 4700sf+ living space, 6300sf+ total covered. Straightforward framing.
#customhomes
1/
NAHB has updated its "housing affordability pyramid" for 2023 and the latest data show that 64.8 million households out of a total of 132.5 million are unable to afford a $250,000 home. via
@NAHBhome
@DallasAptGP
@GuyDealership
Similar pricing structure with the introduction of calculators, cell phones....
Housing cycles similarly seem to start with the high end
@meetmikehiggins
Staging, pro photos huge ROI.
Great photos on Zillow generate more hits. I usually don't use front of house as my first photo. Might be a great kitchen or backyard.
@moseskagan
Briefly house sat in a 55+ community on golf course (harassed weekly by the HOA for ID but was 55+ a few months). Dead quiet by 8pm. Never any kid noises. Regular ambulance visits around 730 am - at least a couple times weekly.
Be careful what you wish for.
@amyliztweets
By killing off production of thousands of market rate multifamily..... those buyers shut out probably displaced more low income renters than the program produced for a net loss of targeted housing.
California "flipper" law AB 968 requires the seller of a single family residential property to disclose work done on the property, if the seller obtained title of the property within the previous 18 months. Specifically, the law requires the seller to provide information…
Just rehabbed a 2001 home in 10 home project we developed.
1. patch & refinish Hickory floor
2. new carpet
3. 3000k lighting
4. ceiling repairs
5. repaired a lot of water/pet damage
6. Professiinal clean incl windows
Ready to sell!
@pushtheneedle
@rbarnesen
@ChrisWPhoto
Our 49 unit project is taking at least an extra year to permit due to DR and related delays. The costs will be at least $2m higher due to that delay. Honestly, I don’t even know if we can build it anymore
@RussellLowery10
In other words the government takes 90% of the margin after costs before taxes, leaving "big oil" with 14 cents. In exchange they restrict CA from outside competition that would lower prices to consumers.
Popped up in memories today. 2016 spec. 4000sf single level. Mom had purchased the lot then passed. Brother & I split the duties. Siblings were patient during a slow market.
#customhomes
Bidding complex projects? Almost always there is a lower bidder.
- Are they vetted, competent & with skills matching project?
- Are the bids accurate & inclusive?
- Is the scope well defined?
- Are allowances defined & adequate?
Often not. We'll hear about it…
@homeservguy
Tearout & dump run, prep, new pan w new drain, new valves installed in wal, build/buy niche, 90sf of tile (100 w waste), 3-4 sticks metal tile trim, install cement board replacing drywall, redguard. $9-12K but I don't do these.
Reminding a client for the 4/5/6th time that landscaping must be complete including bark, inspected & passed by the city BEFORE we can call a final inspection for CofO. Welcome to California.