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  1. #27101
    Join Date
    Nov 2002
    Posts
    8,928
    Acuity has underwriten by business liability policy for about 20yrs. They have been great to work this including defending me against 2 BS claims.

    Sent from my Turbo 850 Flatbrimed Highhorse

  2. #27102
    Join Date
    Oct 2003
    Location
    slc
    Posts
    18,071
    I had a call this morning about a senior living apartment building project in SLC. 110 units, $50-60 million. The size of the units wasn't mentioned, but I can't imagine they're more than 1-2 bedrooms and 1k ft2. Seems nuts.

  3. #27103
    Join Date
    Nov 2002
    Posts
    8,928
    $545ish per sq. ft.? As usually, it depends on what's in the number. If that included land, infrastructure and all preconstruction costs it sounds about right.

    Its so in vogue to point the finger at the developers and assume they are responsible for the cost of housing but the imbedded cost are unbelievable. Its pretty easy to bring product to market at +/-$300 sq. ft. but it's almost as if the regulatory powers don't want it.

    #how much should it cost and why?

    #I go to the meetings.

  4. #27104
    Join Date
    Feb 2007
    Location
    righthere/rightnow
    Posts
    3,188
    DR Horton has it under $150 sqft in FL at cost.
    https://www.zillow.com/homedetails/4...54523098_zpid/

  5. #27105
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,209
    But Florida?
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  6. #27106
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    13,970
    Quote Originally Posted by liv2ski View Post
    But Florida?
    Location
    Location
    Location

    Amirite??


  7. #27107
    Join Date
    Dec 2010
    Posts
    3,988
    Quote Originally Posted by Dantheman View Post
    I had a call this morning about a senior living apartment building project in SLC. 110 units, $50-60 million. The size of the units wasn't mentioned, but I can't imagine they're more than 1-2 bedrooms and 1k ft2. Seems nuts.
    FWIW, just broke ground on a similar sized affordable senior building in the greater seattle area and that was the construction budget last i saw. That didnt include the upfront land/design/permitting costs. State grants pay a big chunk of the budget from what i understand. And these are studios... they dont even have W/D in the units, thats down in the basement.

  8. #27108
    Join Date
    Oct 2011
    Location
    Bend
    Posts
    1,369
    Quote Originally Posted by Foggy_Goggles View Post
    $545ish per sq. ft.? As usually, it depends on what's in the number. If that included land, infrastructure and all preconstruction costs it sounds about right.

    Its so in vogue to point the finger at the developers and assume they are responsible for the cost of housing but the imbedded cost are unbelievable. Its pretty easy to bring product to market at +/-$300 sq. ft. but it's almost as if the regulatory powers don't want it.

    #how much should it cost and why?

    #I go to the meetings.
    This is a great point. SDC’s have grown at nearly an exponential rate in two of the markets I’ve been involved in lately. It’s disturbing to me that many consumers act as if that’s fiction. It’s pretty easy to verify and it’s a significant expense.

  9. #27109
    Join Date
    Mar 2006
    Posts
    19,852
    Toll Brothers offers insurance coverage at half the market rate in the new home community near me. Hippo underwrites.

  10. #27110
    Join Date
    Mar 2006
    Posts
    19,852
    Houses being taken off market around here after months unsold.

  11. #27111
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    31,298
    were people wanting to sell them or just see how much they were worth ?
    Lee Lau - xxx-er is the laziest Asian canuck I know

  12. #27112
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    10,558
    Southern Maine is still on fire. Knockdowns going for over 1MM.

  13. #27113
    Join Date
    Dec 2003
    Location
    Nhampshire
    Posts
    7,798
    Quote Originally Posted by Mazderati View Post
    Southern Maine is still on fire. Knockdowns going for over 1MM.
    Yep, same in seacoast NH pace-wise. Really sad people figured out it was a nice place to live. Monsters.

  14. #27114
    Join Date
    Mar 2008
    Location
    the ham
    Posts
    13,422
    PNW never even blinked.

  15. #27115
    Join Date
    Oct 2007
    Posts
    12,748
    I think the current trend of insurance rates for HOAs jumping 400% could have some pretty major consequences, especially in the condo markets. HOA fees are going to push people out of their homes, and who's going to buy into a place that has massive fees just to insure it?

  16. #27116
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    13,970
    Quote Originally Posted by Name Redacted View Post
    I think the current trend of insurance rates for HOAs jumping 400% could have some pretty major consequences, especially in the condo markets. HOA fees are going to push people out of their homes, and who's going to buy into a place that has massive fees just to insure it?
    So you're saying condo prices will be coming down?

  17. #27117
    Join Date
    Mar 2006
    Posts
    19,852
    Quote Originally Posted by XXX-er View Post
    were people wanting to sell them or just see how much they were worth ?
    Maybe both.

  18. #27118
    Join Date
    Mar 2022
    Posts
    892
    Quote Originally Posted by skaredshtles View Post
    So you're saying condo prices will be coming down?
    Yeah, usually the prices come down to make it work out about even on a monthly payment level (although you get shit for equity if all your money is going to the HOA so its not a great long term deal).

    Common to see "cheap" condos in super nice old buildings in big cities....until you see the HOA dues. Turns out maintaining those glamourous marble entryways and keeping the building from falling down is expensive.

    Here's a random one in Chicago, but I've seen far more egregious examples:
    https://www.zillow.com/homedetails/3.../3718277_zpid/
    In a lower interest rate environment, that HOA fee is equal to a mortgage payment...

  19. #27119
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,209
    Ooof...the HOA fees and property taxes would be a bitter pill to swallow.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  20. #27120
    Join Date
    Dec 2010
    Location
    Last Best City in the Last Best Place
    Posts
    7,411
    How wonderful these days that you can pay off your mortgage, meantime your taxes, insurance and HOAs have crept up to the point where your monthly payout without mortgage is equal to what it was when you first bought the place and were paying it all.

  21. #27121
    Join Date
    Oct 2007
    Posts
    12,748
    Quote Originally Posted by yeahman View Post
    How wonderful these days that you can pay off your mortgage, meantime your taxes, insurance and HOAs have crept up to the point where your monthly payout without mortgage is equal to what it was when you first bought the place and were paying it all.
    Yup, a buddy of mine finally accomplished his dream of buying a condo. Single dude, works hard, makes decent money for a ski town, better than a lifty anyway. Now his HOA just got assessed thousands of dollars and fees will be goin up a lot. Now he might have to get a side hustle like selling drugs or something just to cover it. Pisses me off, these are the kind of people we need around here.

  22. #27122
    Join Date
    Nov 2002
    Posts
    8,928
    Due dillegence on the reserves

    Go to the meetings

    Understand that an HOA is a rotating cast of business partners you do not control

    Sent from my Turbo 850 Flatbrimed Highhorse

  23. #27123
    Join Date
    Oct 2007
    Posts
    12,748
    Quote Originally Posted by Foggy_Goggles View Post
    Due dillegence on the reserves

    Go to the meetings

    Understand that an HOA is a rotating cast of business partners you do not control

    Sent from my Turbo 850 Flatbrimed Highhorse
    Nobody saw a 400% increase in insurance premiums coming. Normally i would agree but this is a new trend, at least around here.

  24. #27124
    Join Date
    Apr 2006
    Location
    Movin' On
    Posts
    3,766
    Thought this website was interesting. It tracks prices and YoY inventory growth across pretty much every zip code. Here is Denver Metro

  25. #27125
    Join Date
    Nov 2002
    Posts
    8,928
    When I think assement I think special assessment not dues. But yes 4x increase in insurance does suck.

    Sent from my Turbo 850 Flatbrimed Highhorse

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