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Real Estate
Reply to "How do teardowns work, and do they really 'work'?"
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[quote=Anonymous][quote=Anonymous]In Arlington you can get a tear down in the $550k range (further out on Lee Highway by Lee Harrison shops). Builders build for about $80-$100 per square foot. You could definitely do something with Stanley Martin Custom Homes for about $1 million. Nothing fancy, but adequate. A lot on John Marshall just sold for $1.1 million. They tore down the house, and I assume that they are going to build 2 new houses. They will probably be about $1.4 million each. It's much cheaper to build your own because you have the risk, not the builder. [/quote] Just passed by this today. The foundation isn't even put in, but there is a sign up saying the new houses will be listed at $1.395m. [/quote]
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