Anybody know of this co. ($100 per sq.ft.

edited August 2008 in Seattle Real Estate
This is incredible, check out this website
http://www.crownbuildersnw.com

Has anybody heard of these guys? Apparently, they show their costs and charge a 10% markup over invoice. 0 real estate agent fees, they're in Redmond, how do the heck to they do this?

I've talked to their sales guy, and he says their avg. home can range in $100 to $120 per square foot. :shock: :o :? :P

Im not one to talk real-estate, but CAN SOMEONE PLEASE clarify this with me, is this possible???????????

1800SQ x 100 = $180,000
is this what they're saying???

Comments

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  • Hmmm, how do they do it, hmmm....
    From their webpage:
    "A professional driver delivers your new Crown Home to your site in a timely manner. Reliable delivery with proper placement is one of the most important steps in the home set-up process.
  • At least their "how much can you afford" calculator is reasonable.
  • It's prefab...
    How? Our innovative, off-site, stick-built process.
  • edited August 2008
    Hey, I'll do it for $99/sq ft and throw in a pickup truck, FREE!

    Just give me your address where I can park it.

    abandoned-mobile-home.jpg
  • Another spammer obviously.
  • Not a spammer based on past post.


    They're $100/sq ft because they don't count the cost of the lot. In Seattle, Bellevue/Redmond, etc, the lot is more expensive than the pile of lumber on top of it. If you look at any nicer areas in Seattle, the King County tax records show the house to be assessed at around $75-125/sq ft and the lot at $50-150/sq ft. So your 1800 sq ft house is $180k on a 5000 sq ft lot that costs $500k, and you're looking at a $680k McMansion.
  • Not a spammer based on past post.


    They're $100/sq ft because they don't count the cost of the lot. In Seattle, Bellevue/Redmond, etc, the lot is more expensive than the pile of lumber on top of it. If you look at any nicer areas in Seattle, the King County tax records show the house to be assessed at around $75-125/sq ft and the lot at $50-150/sq ft. So your 1800 sq ft house is $180k on a 5000 sq ft lot that costs $500k, and you're looking at a $680k McMansion.
    He has two posts total, not a whole lot to base anything.
  • Hey tomtom,

    Is that a fishin' boat between the trailer and the truck? Is it part of the deal?
  • 5
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    Too good to be true?

    Thanks for the friendly welcome!
    BTW... I live in Redmond, Im 24, male, sports supplements sales, ssn 524 - xx-xxxx, I'll give you the rest later. But Im not telling you my name, never..... You guys must be really paranoid. HAHAHA, talk to you soon
  • Mike,

    We get a lot more posts from new users that are spam than legitimate users joining up. Please don't be offended.
  • You guys are too funny, Im enjoying this too much, but thanks for the feedback.
  • MikeC5 wrote:
    5
    4
    3
    2
    1
    ........

    Too good to be true?

    Thanks for the friendly welcome!
    BTW... I live in Redmond, Im 24, male, sports supplements sales, ssn 524 - xx-xxxx, I'll give you the rest later. But Im not telling you my name, never..... You guys must be really paranoid. HAHAHA, talk to you soon
    Don't understand why you are looking for a house then.
  • I live in Redmond, hint hint
  • It's cheaper because it's prefab and because you need to buy the land, as stated by others.

    Does that also include the costs of all permitting and taking care of hooking up to the grid and to sewers? Also, do you have to be your own general to get it done? That's how some places like that work.

    It's also much more difficult to finance a prefab house. Both for purchase and for refinance. That doesn't make it a bad house, however it can make it very difficult to refinance in the future, get cash out, or sell the place.

    Typically if you're financing the construction, most banks want to see stick built on lot. Not prefab.

    So, there are alot of things that make this not quite as good of a deal as it seems on the surface.
  • MikeC5 wrote:
    I live in Redmond, hint hint
    hint what? I don't know what range of income sports supplement salesman man, but being at 24, why would you lock yourself down?
  • It's cheaper because it's prefab and because you need to buy the land, as stated by others.

    Does that also include the costs of all permitting and taking care of hooking up to the grid and to sewers? Also, do you have to be your own general to get it done? That's how some places like that work.

    It's also much more difficult to finance a prefab house. Both for purchase and for refinance. That doesn't make it a bad house, however it can make it very difficult to refinance in the future, get cash out, or sell the place.

    Typically if you're financing the construction, most banks want to see stick built on lot. Not prefab.

    So, there are alot of things that make this not quite as good of a deal as it seems on the surface.
    I didn't bother reading this, but essentially it's talking about manufactured homes, which is very difficult to obtain loans even during the bubble years.
  • Basically, what you're saying is that prefab homes may be lower quality? If that is true, I just dont understand how one group says that onsite stickbuilt homes are better, while their gaurantee says off-site is better.

    So, what is actuality. You read a thing about how prefab homes are "precision built and high quality, etc......." and then you have people telling you its not. How can someone actually gaurantee something like this?

    all I can think of is a warantee or a contract. If I decide to buy this home tomorrow, whats my step in getting a gaurantee?
  • MikeC5 wrote:
    Basically, what you're saying is that prefab homes may be lower quality? If that is true, I just dont understand how one group says that onsite stickbuilt homes are better, while their gaurantee says off-site is better.

    So, what is actuality. You read a thing about how prefab homes are "precision built and high quality, etc......." and then you have people telling you its not. How can someone actually gaurantee something like this?

    all I can think of is a warantee or a contract. If I decide to buy this home tomorrow, whats my step in getting a gaurantee?

    Where in the 2 posts above said prefab homes are lower quality? They are stating that the costs you are being quoted is very low because the costs do not unclude the costs of land, the costs of a general contractor to oversee the installation of the home onto a solid foundation. MikeC5, check out this site for some prefabs http://www.prefabs.com/.
  • Must have been the picture on page 1 that gave me that idea. So, generally speaking, what type of homes are better on site or prefab?
    or ar they simply the same product built with a different approach?
  • MikeC5 wrote:
    Must have been the picture on page 1 that gave me that idea. So, generally speaking, what type of homes are better on site or prefab?
    or ar they simply the same product built with a different approach?

    Will it surprise you to hear that "it depends"?

    Some stick-builts are very high quality, solidly built with good materials. Others are shoddy, half-assed, and built with low grade materials. Pre-fabs are no different.

    IMO, with inventory where it stands in the area, I have no idea why anyone would consider building or pre-fabbing a (first) home.
  • Prefab is a bad idea, period. You get what you pay for, and you don't get much options.
  • MikeC5 wrote:
    Basically, what you're saying is that prefab homes may be lower quality? If that is true, I just dont understand how one group says that onsite stickbuilt homes are better, while their gaurantee says off-site is better.

    So, what is actuality. You read a thing about how prefab homes are "precision built and high quality, etc......." and then you have people telling you its not. How can someone actually gaurantee something like this?

    all I can think of is a warantee or a contract. If I decide to buy this home tomorrow, whats my step in getting a gaurantee?

    Prefab homes aren't necessarily lower quality and in fact are often times better quality than a traditional stick built home. The problem comes from the fact that banks and fannie mae don't like prefab and manufactured homes.

    They are difficult to find financing for and have a bad rap with banks. Therefore, if you ever plan to sell the house just know that you'll have to sell it for less than other similarly sized stick built houses in the area.

    So if you don't plan to ever move, then I say go for it. If this is a 5-15 year plan, where you'll sell eventually, then don't go prefab.
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