DAN O’CONNOR | O’CONNOR PROPERTY
This is Dan O’Connor of the O’Connor Property Group at Shorewood Realtors. Today’s topic is “Spec Building” and how it has an effect on the local market place.
Short for speculative building…It’s a development that a builder is tearing down an old house and building a brand new larger home or maybe multiple residences on a site redeveloping it and selling it without a buyer already in tow.
A lot of people don’t want to build their own house but obviously there isn’t a ton of vacant land and there isn’t mass-produced new construction in this area just because land is so tight. So this is one way for a buyer to acquire the brand new house that they want without actually having to build it themselves.
So this is a perfect example of what would have been here before as you can see the house on our left. A property like that would be torn down and turned into the after which would be this three-story beautiful custom home.
One of the things to keep in mind is what sets certain builders apart from another and the big thing is when you’re looking at a certain category like a single-family home like this house here most builders are going to build a similar sized house a similar floor plan of house, but what’s really going to set one builder apart from the other is what kinda finishes are they doing.
A few other examples would be are they doing tile in the bathroom floor to ceiling…this builder here chose to put in a collapsible door system where the whole wall can open up to be outside…other things to look for are there built-in speakers? Are they high-end cabinets, is there wood trim on the ceilings, is it wired for flat-screen TVs, is it wired for internet? What kind of light fixtures are they using? What kind of countertops are they using? What kind of tile the using? The appliances are a big indicator. Are they using things like KitchenAid or are they using things like Sub-Zero? All these things add in and they’re also dictated by the price level of the home and when you’re looking at a certain type of property all those things should be consistent with each other.
So if you’re a buyer in this market, looking for a new construction home let us know because we know a lot of properties that are not currently on the market and we have a lot of experience dealing with builders and looking at quality versus quantity and how to really find the right property for you. This is Dan at O’Connor Property, part of Shorewood Realtors. If you like more information about spec homes and where we can find them, give me a call!
O’Connor Property |
3201 Manhattan Avenue
Hermosa Beach, CA 90254
Serving the Southern California South Bay Beach Cities of Manhattan Beach, Hermosa Beach, Redondo Beach and the Palos Verdes Peninsula cities of Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills and Rolling Hills Estates
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