Even when the market is going well; I try to stay away from the attitude that "somebody will eventually buy it". Builders sometimes use the lowest priced building materials they can find and make the "cheapest" home they can build... and then sometimes sell it for outrageous prices. Clients are looking for more than an affordable house. They are looking for a place that their family can call home. Hardwood floors, ceramic tile, decent windows, and hardplank siding are just a few of the things that potential buyers look for when they find a home they are interested in. Landscaping is also important because a first impression is worth more than all the sales talk you can do. There are several things that you can do to improve your home without diminishing all of your profit. What about some gable accents or timber in the gables? What about a contemporary paint scheme? All of us know that many buyers are attracted to the kitchen and master bath. Spend a few extra thousand dollars in these areas and watch your house sell much quicker than the other "standard" homes in the neighborhood. Drive around your town and see what others are doing. We went in a development called Mountain Air in Burnsville North Carolina the other day and saw many beautiful homes. We ended up with about 6 new home ideas that cannot break the bank.

Other times builders get stuck in the "Million Dollar Home Syndrome". This is where they build a home that they will sell for $1,000,000 or more... and when the market is down, they get stuck with it. If you are in this category, it would be wise to keep a few smaller projects going on as insurance. Affordable housing ($200k or less) is hard to find. For example: Builders can have several $1 million plus homes going up and also build a few affordable housing solutions at the same time. I met a Builder / Developer in the Weaverville North Carolina area that is sitting on a beautiful $800k home for over a year! I took a look at the home and it is already getting old. The stucco must not be installed properly, so it is molding on the bottoms. The inside is immaculate, but no life. It was a big investment with no profit as of yet. The Builder actually had to stop construction on several other projects because of this problem. Be Careful!

With the many ups and downs of Real Estate it would be wise to target and plan excessively before starting a spec construction project that you want to sell. We actually just finished a beautiful Cape Cod in a nice mountain cove in Weaverville North Carolina, about 15 minutes from Asheville. It sold immediately. Yuriy, a client from earlier in the year, built a small ranch with a one car garage attached. Really simple, but he added some options, and it is under a contract for sale as I write this. Listen a little closer to the market and find out what it is asking for. Then respond properly to the request! Good Luck!

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