LAFAYETTE HOME BUILDERS MAKING MONEY

[TBEAR]

I talked to a builder in a subdivision, Boulder Creek, and he told be he had just sold one of his houses for $580,000.00. He told me it costs him $120,000.00 to biuld. He was working on another home that was costing him $280,000.00 to build and he was going to put it on the market for $1.2,000,000.00. Now whatever idiot buys a million dollar house in a subdivision on Vincent rd needs to have his head examined. This builder is laughing all the way to the bank along with the real estate agents thinking how stupid people are to jump up and buy something and how much money they are to raking in. Talk about taking advantage of a situation when people have no homes and had to move from the hurricane stricken areas.

[coolboy]

I know this is a late reply to this thread, but it would seem that the real estate well is beginning to run dry. If the Feds keep going up on the interest rates, the market may go kaput. I hope it does, because when the interest rate was lowered, the cost of homes shot through the roof. TBEAR, your builder-friend had better invest wisely. There won't be that many people purchasing new homes in the not too distant future.

Besides, have you seen the prices homes are going for in Lafayette? Wow! My modest home has appreciated nearly 50% of what it was worth less than eight years ago.

[TBEAR]

I know Im waiting for it to fall through then we'll see how many people buy houses, then they'll be asking 1/2 the price for the same house, so wait if you want a house.

A friend of my wife called, just to see, how much it is going to be to rent one of those new condos in RiverRanch, $1500.00 a month. Hello, you can buy a house for that. When nobody rents them lets see how much it will cost then.

Every once and awhile I look at channel 14, the local realestate channel, ridiculous for the amount they are asking for these houses.

[abbd]

Well if ya get four or five families sharing the rent on one of those 2 bedroom $1,500.00 a month apartments it ain't bad. LOL I've seen that happen before. You can pack lotsa folks into really tight quarters if ya want! Wonder what the traffic situation will be when all those many apartments are fully rented? River Ranch must be the most highly populated area per acre in the state. Gonna be more congested than the french quarter or any new orleans housing project.

[TBEAR]

Heres a link to Grand Pointe's apartment prices, and they are almost built. Just click the link and look for grand pointe then press the link it will give you the details, look at the prices of the other ones

www.apartmentslafayette.com/laf_srchresults.php?cmbbedrooms=Any&cmbfromrange=Any&cmbtorange=Any