Cohousing-L Mailing List: RE: Private amenities vs common resources

[Raines Cohen (rc2-coho-L]

On 3/22/03 5:23 PM, Rob Sandelin <floriferous [at] msn.com> wrote:

>This summer we will
>have probably 4 houses for sale, two of which will have asking prices over
>$400,000. It is my belief, and I might be wrong, that there is no cohousing
>market for houses at that price, thus IF they sell, the people who buy them
>will not be very much interested in community. (I am hoping I am wrong about
>this).

At Swan's coho, a 2BR condo unit late last year sold for $370k (very 
quickly, at probably below then market price, with less than $100 spent 
on marketing), and a 2BR+loft for around $450k (with a little work). In 
both cases, the new owners are active participants in the community, 
coming in with their "eyes wide open", buying BECAUSE it's coho, not 
despite it; in the former case, the seller even had the buyers sign a 
participation agreement.

With any property, market it based on the 3 "L's" first (Location, 
Location, Location): who would want to be there and why? And then draw 
'em in a little further with the extra benefits of community.

The unit we bought at Berkeley went for far less than the above prices 
only because it's a limited-equity condo, with the price calculated based 
on area median income; as you could well imagine, resales are rare and 
demand extremely high under these circumstances.

Raines

Raines Cohen <my initials,2,dash,coho,dash,L at my first name .com>

  Member, Swan's Market Coho [Oakland, CA] <http://www.swansway.com/>
Where you can rent an adjoining studio unit for $995/mo.

  Member, Berkeley [CA] Cohousing (moved by bicycle!)
Where we figured out capital project prioritization today.

  Facilitator, East Bay Cohousing [on hiatus] <http://www.ebcoho.org/>
Encouraging members to attend the CoHousing Co. slide show this Wed.

  Boardmember, The Cohousing Network <http://www.cohousing.org/>
Preparing another e-newsletter: got news?


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