Cohousing-L Mailing List: Re: Home price for cohousing, over price of surrounding comparable houses

[Sharon Villines (sharon]

On Nov 17, 2005, at 11:04 AM, Chris ScottHanson wrote:

> It must be noted that Winslow Cohousing is one of very few cohousing 
> projects legally owned and operated as a cooperative in this country.  
> Therefore, the market is severely impacted by limited financing 
> options, high down payment requirements, etc.

I think Manhattan may be the only place in the country in which being a 
coop does not impact the price of units, but they do reduce the size of 
the market -- intentionally. Coops there hold much tighter strings on 
who can buy in and often require 50% cash up front -- some only allow 
40% mortgages. In other areas, the market for coops is just not 
comparable to condos or single family homes.

In DC our homes have stayed at the highest market rates for our 
neighborhood, selling in a matter of hours. The market here is "hot" as 
they say but the people who have been buying here were specifically 
looking for cohousing. The commonhouse just offsets the small size of 
the units.

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org