What is Lots/Land/Home Sites ?
Lots, land and home sites. I like the word home site best. That is Shana acquisto. She’s a luxury real estate broker. And we’re going to quickly discuss how you can find different home sites that you might would like to purchase to be able to build your home.
So if you’re working with a client that says, Hey, I want something super unique and I want something different and I want to go ahead and build myself, where could I find that? So we kind of have a resource for you if you happen to be in the model home Newport. This would be something that that may help you out.
Right. And I will say this is something that we learned last week. I was not aware of this, of this website, and I didn’t even know it existed. So it’s very helpful.
I’m glad we were able to share that off. This is a lot networks and we will chat that in and give you guys that information so you can take a look. And what I’m going to do is go ahead and kind of take control and type a couple of things in and do it. Just a super quick search, OK, and see what we come up with.
So I’m going to search Frisco, Texas, and I’m not a huge fan of like how it makes it all caps when you type it in, I don’t know why that kind of bothers me, but when I go ahead and see that and I search, what this is going to show me are the 17 listings that are active that are available for you to look at to purchase in different places within the city of Frisco.
So if we take a super quick look here, we have one in Hills of Kingswood,
So some will be listed. Maybe in MLS, some may not. I think a lot of them aren’t because what I’ve you can verify this. What happens is a builder when a development opens will buy up a certain amount of lots home sites and then maybe they.
You know, don’t they don’t need them, right, or they want to sell them so they may offer them for sale on here to another builder who might pick them up. So this is a, I believe, a portal that the builders go in or developers to pick up some lots as well.
If we took a quick peruse through here in Hillside Kingswood, this is point three one acre. So that is going to be a typical home site in our area. Right. And that’s four hundred and seventy five thousand for the land only. And then upon it, you would build the home.
Now, if we kind of look at some of these numbers, what you’d be looking at is if we are keeping this all within the correct price ranges, you would also now be putting a home on there that is worth four times the home site price.
So if this is half a million dollars for round sake, then you would times up by four and kind of a normal situation. And now you’d be putting for $2 million of a home on top of this half million dollar property.
So this should come to when it’s all said and done a two and a half million dollar property on this point three one acres. So let’s meet jammed in there with a lot, lot of stuff. It might be like six stories tall to be able to get that whole backyard.
I’m not sure exactly, but if we took a peruse through there that those are some of the numbers, we see the same thing in phase three as well. We’re now this one is six hundred and forty nine thousand, and it’s roughly the same size must be on a way better street or something like that. I’m not sure it’s a corner.
I don’t really know. Well, it’s interior, it’s a corner versus interior and that we’ll start to see some other ones in different neighborhoods, right? Hills of Kingswood, this one’s point seven six and it’s in phase five A.
So I think that’s a slightly nicer one, but it’s one point one million and you’ll start to see some of these here that go through and it’s hard to find anything in Frisco. This one has this one been listed forever in Star Wars. That’s nine fifty. Yeah, like literally forever and a day.
At least ten years. Hills of Kingswood again. Five B. one point one. Two acres and it’s nine fifty. This one’s even smaller and it’s one point two. So those are the approximate prices on which stuff is selling for. And frisk won’t not approximate.
Those are the prices that things are selling for for land only. So when someone happens to tell you that that’s what you’re looking for and it gives you an opportunity to look at this and see if you had a builder that wanted to put something together, this would be a place that you could go ahead and look to snatch up a lot.
Let’s go back just to us if we can, and then we’ll talk about the difference in the words. So I believe the word home site is kind of a word that we should be using as agents, and we can discuss this here real quick.
And the reason I like home site is I think it it uses the word home, and that’s a powerful word that has value. If you talk about house versus home, there’s a big difference.
When you use the word home, you kind of it just feels a little bit better and then site so you can identify what you’re kind of talking about when you use the word lot. I don’t know, it has this connotation that it a lot.
It feels different than inside. And the word lot means like. Many multiples price like high, like all these things, a lot means like you’re paying a lot for it, right? So I don’t know. Yeah, right. It has a connotation and then site if you just use that word.
I don’t know. It doesn’t give you a warm, fuzzy, at the very least. So if we’re trying to create something here, then the word homesite is possibly the best one. So we’ll run a quick poll, which we’re do you like best if Omkar can put In my home site or what was the third one there lot home site and site.
You just cite so he can do a, you know, a three part survey that would give us kind of our response there. But so now you guys know how to take a look.