|Re: RESALE VALUE OF COHO UNITS||<– Date –> <– Thread –>|
|From: Michael Barrett (mbarretttoast.net)|
|Date: Mon, 25 Sep 2006 16:13:06 -0700 (PDT)|
Linda, I asked the same questions, though probably not so concisely and clearly as you, some months ago and was disappointed by the diffuseness of the relatively few responses. It seems there is little or maybe no hard data. My observations on only the very small number of resales at Libetry Village is that sales are significantly slower in coho than non-coho, and perhaps not unreasonably so since only a very small percentage of homeseekers are seeking cohousing. Maybe in "hot" cohousing areas this is different. The relative pricing is hard to determine because how and what does one compare? I sense that realtors count bedrooms and bathrooms and precious little else, so where does the value of the common land and the common house - and the very significant but intangible "community" get factored in. It doesn't. If a family is actively seeking cohousing they might be prepared to pay "more" since there may be very few (or no) choices available. By contrast the seller in what is certainly a "niche" market, watching his silent phone, may be prepared to take "less". I know this is no help to you at all! As far as a preparing a business plan is concerned my thought would be to try to appear as "conventional" as possible, i.e. play down the cohousing and play up the regular housing development model. Even "greeness" may have limited (or no) traction with lenders. Banks and lenders generally are not interested in innovation and experiment - they are much more concerned to see their assured return on investment. Project sales and value appreciation rather than any warm fuzzies. As far as creating sales, first time or resale, are concerned I have yet to hear of any sales made through "regular" realtor channels. All sales that I have heard of are through word of mouth, and/or publicity through groups which seem to embrace cohousing, i.e. "green" organizations, "family" groups, Unitarian-Universalist churches and fellowships, and perhaps curiously, health care providers. Best wishes on your venture. Currently there are two homes for sale here at Liberty Village at Libertytown in Frederick County, Maryland. See www.libertyvillage.com to learn about the community. Email info [at] LibertyVillage.com or call 301-898-0345 to learn more about the homes. Michael Barrett www.libertyvillage.com Maryland ----- Original Message ----- From: "Linda" <treehouse [at] netstep.net> To: <cohousing-l [at] cohousing.org> Sent: Monday, September 25, 2006 5:12 PM Subject: [C-L]_ RESALE VALUE OF COHO UNITS Dear All, In the midst of writing our business plan to profile our project to banks and investors, I am seeking info on resale value of coho units compared to non-coho units in the same area? Are coho units¹ resale prices comparable to non-coho units in the same area? Higher or lower? How long does it take to sell a unit? More or less time than non-coho units in the same area? Do coho units appreciate at the same rate as non-coho units in the same area? Do most cohos have waiting lists or notification lists? Do most sales arise from those lists? Many thanks, Linda Linda Gluck Co-General Manager Ulster County Cohousing in Rosendale, NY 845/255-8869 _________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://www.cohousing.org/cohousing-L/
RESALE VALUE OF COHO UNITS Linda, September 25 2006
- Re: RESALE VALUE OF COHO UNITS Michael Barrett, September 25 2006
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