Cohousing-L Mailing List: Re: RESALE VALUE OF COHO UNITS

[Michael Barrett (mbarrett]

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


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