Re: VACANCY RATE POLL - Is Cohousing Overbuilt? How many vacancies at your community?
From: Racheli Gai (rachelisonoracohousing.com)
Date: Mon, 11 Aug 2008 09:15:39 -0700 (PDT)
At the moment there are two units for sale at Sonora Cohousing (Tucson, AZ). There are community people (renters) who are interested in purchasing, but can't afford
the current prices (with current interest rates).

Racheli.


On Aug 11, 2008, at 8:53 AM, Larry Miller wrote:


"If you're willing to share, I'd love to know how many communities still have unoccupied units for sale, how long they have been on the market, and whether any communities have seen what they would perceive to be an overbuilding of cohousing units in their particular demand area."

When Oak Creek Commons was built, all homes were sold prior to completion of construction in 2004. Since that time, homes that have become for sale have either been sold before going on the market or have sat for long periods. The ones that sold immediately were usually purchased by people already in the community, either renters or someone wanting a different home. The others were generally handled by conventional real estate agents and had a difficult time appealing to the normal real estate market. Part of this, of course, has been the downturn in the market over the last 2 years. The last 2 homes on the market were withdrawn from sale.

Larry miller
Oak Creek Commons




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