NoahAg said:

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AgRebel08 said:

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As expected no real comments but a few.

Thoughts on re-sale and value? Someone said they thought that it would not appraise and that it was expensive. I think the location is a steal and wont lose value. They have already about 30 houses up and 30 in progress maybe a 100 sold.

solid builders (I don't know anything about Pelican)

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Pelican is a great local builder. The do a lot of high end townhomes and mid-rises. They're doing the Wilshire right now.

rilloaggie said:

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AgRebel08 said:

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What does that mean, I would sue the engineers if the foundation was terrible?

rilloaggie said:

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AgRebel08 said:

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Coventry did say that they used peer and slab construction to prevent settling / shifting, not sure what that means but sounded good, but they were more per sq ft.

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Both builders are going to be using an engineering firm to design the foundations so they'd be protected from liability either way. Probably not a big difference on the foundations of either, Coventry is just doing a better job of selling theirs.

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Probably poorly worded on my part. Builders hire engineers to 1, make sure foundations are designed correctly and that there won't be problems, and 2, so that if there are problems and the builder gets sued, the liability falls on the engineering firm to make things right. Clear as mud?

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Ah got it, sounds like a pain if that ever happened.

Jock09 said:

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Timbergrove is single family homes near this site. Originally built in the 50s and 60s. My point was some of the custom builds on these single family lots are almost the same price as the town homes in Somerset Green. So these town homes are definitely on the high-end price range for everything around it.

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This is my main worry, overpaying and then having a shortfall on the appraisal.

Quote:

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The developer told us they were making a sky bridge to Memorial park over I-10

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Even more interested now.

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This is my main worry, overpaying and then having a shortfall on the appraisal.

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Not usually a problem with new construction, especially with a reputable builder. The appraisers tend to give them the benefit of the doubt.

That's the only way I can imagine that Weekley managed to sell Cottage Grove townhouses for $250/sqft.

AgRebel08 said:

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Jock09 said:

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Timbergrove is single family homes near this site. Originally built in the 50s and 60s. My point was some of the custom builds on these single family lots are almost the same price as the town homes in Somerset Green. So these town homes are definitely on the high-end price range for everything around it.

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This is my main worry, overpaying and then having a shortfall on the appraisal.

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I'm in Timbergrove and the new builds near me in the last couple years were priced at $1.25M(illion for the pedantic 'M' means Thousand guys) but they were at or just below 4K sq ft.

It's not ghetto at all, everyone takes care of their shlt for the most part but there's an old bat that got some grant money for HPD to run the speed trap at the bottom of the TC Jester bridge and always brags about it on Nextdoor/FB. One of the great things about Timbergrove is the lot restrictions; you can't tear down and build 2 or more townhouses on a lot so it's not going to get more dense. And Hughies.

Diggity said:

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NoahAg said:

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AgRebel08 said:

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As expected no real comments but a few.

Thoughts on re-sale and value? Someone said they thought that it would not appraise and that it was expensive. I think the location is a steal and wont lose value. They have already about 30 houses up and 30 in progress maybe a 100 sold.

solid builders (I don't know anything about Pelican)

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Pelican is a great local builder. The do a lot of high end townhomes and mid-rises. They're doing the Wilshire right now.

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Loved these guys floor plan the most, however there wasn't much they could do on design changes and the lots they had. (ie we wanted a oversized garage and backyard).

I don't get why builders don't build the garage's just a foot longer and wider. A lot of people drive trucks....

AgRebel08 said:

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I don't get why builders don't build the garage's just a foot longer and wider. A lot of people drive trucks....

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I'm guessing it's because when you build from property line to property line there isn't 1 ft left for more garage.

If you want big garage and yard why not just look for a new build or even remodeled home in Timbergrove as previously mentioned? Same price, same area, more room.

Ag_07 said:

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If you want big garage and yard why not just look for a new build or even remodeled home in Timbergrove as previously mentioned? Same price, same area, more room.

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These are the only listings for houses built in 2015 or newer in Timbergrove.

http://www.har.com/842-nashua-st/sale_68663351

http://www.har.com/1010-waltway-dr/sale_87652969

First one listed for right at $1M and it's under contract. He could get a remodel for the same price range as SG but it's not going to have a big garage and possibly smaller. I know the new builds around me have crazy high ceilings in the garage cause the rest of the house is 5' off of the ground. My next door neighbor got a lift put in so he can fit all 3 vehicles in the garage.

drumboy said:

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Ag_07 said:

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If you want big garage and yard why not just look for a new build or even remodeled home in Timbergrove as previously mentioned? Same price, same area, more room.

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These are the only listings for houses built in 2015 or newer in Timbergrove.

http://www.har.com/842-nashua-st/sale_68663351

http://www.har.com/1010-waltway-dr/sale_87652969

First one listed for right at $1M and it's under contract. He could get a remodel for the same price range as SG but it's not going to have a big garage and possibly smaller. I know the new builds around me have crazy high ceilings in the garage cause the rest of the house is 5' off of the ground. My next door neighbor got a lift put in so he can fit all 3 vehicles in the garage.

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Damm those are pricey.

The other builders, Toll & Coventry are going to give us the oversized garage and it will be half the price of those listings. We were able to modify the house quite a bit to give us what we wanted.

you can't directly compare townhome lots with full sized subdivision lots.

The land alone on that Nashua property is worth $400K or so. Home is quite a bit bigger than the Somerset properties as well.

Diggity said:

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you can't directly compare townhome lots with full sized subdivision lots.

The land alone on that Nashua property is worth $400K or so. Home is quite a bit bigger than the Somerset properties as well.

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I do want to know the land value that would be interesting. We are looking at one of the larger lots but wonder the price and the lot. I need to look at the size when I get home.

House will be over 3k but not much and lot, not sure but price would be around 600k.

Definitely true. We're getting ready to demo & rebuild and I'd be fine with a 2,400 sq ft house that's pretty plain but I think it would be better to build some custom contemporary thing for resale value.

it's hard to get a good value estimate for a townhome lot like that because you're paying a premium for all of the amenities.

That land wasn't worth a ton when Hines purchased it but they have sunk millions into the infrastructure and planning.

Did you end up purchasing in SG? If so, how do you like it? Looking there myself. Work downtown and travel a lot. Want a "lock/leave" as discussed above.

Any details would be appreciated.

MAS444 said:

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No doubt. It's just sort of my dream to one day be able to live in a 4 story home overlooking gardens and canals.

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Here's your guy.

Blast from the past. Yes we bought but still not in..... a lot has gone on since I started this

Shoot me an email. ozone21_@hotmail.com

Any photos of the sky bridge over I10 to Memorial Park?

AgRebel08 said:

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Blast from the past. Yes we bought but still not in..... a lot has gone on since I started this

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Can you share some feedback? Interested.
Bullet train....hmmm....

MAS444 said:

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Any photos of the sky bridge over I10 to Memorial Park?

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I'm pretty sure that's just the Washington Ave bridge.