Little Is In!
It's no secret that 2009 was a horrible year for home builders. In fact, 2009 was the worst year that builder's have seen in Ocean Shores since 2004 with only 44 new spec homes sold, according to the NWMLS. That number it seems is already on an upswing in 2010. One major sign that changes are coming is with the number of "presales," which is the sale of a new spec home before construction has even begun. As of February 17th, three new presales have gone pending on the NWMLS website. That's more presales already in the first month and a half of 2010 than we saw in all of 2009!
What's most exciting about these new sales is the size of these new homes. They are tiny! The average number of square feet in these little beach cabins is 768 square feet. The average size of a home sold in Ocean Shores last year was 1415 square feet. The average price per square foot for this new construction is $143.43.
Most buyers of a brand new little beach cabin are second home buyers looking to own their cute getaway at the beach. We're actually seeing some people buy them to live in fulltime now too!
Prices are definitely more affordable now for getaway buyers looking for a little cabin at the beach and there's a wide variety of makes and models from 672 square feet on up. The entry level model starts at $105,900 and is offered by Pacific Coast Construction Group Inc.
Small houses (and particular, small houses at the beach!) are attracting many homebuyers seeking a great location, the convenience of having their own place without the hassle of a hotel room, the value of new construction and the affordability these homes offer. These are great short term and long term real estate investments as well.
Buyers don't have time wait!
Factor in the looming deadlines to get those federal tax credits, buyers must be UNDER CONTRACT BY APRIL 30th and CLOSE BY JUNE 30th. Throw in the impending interest rate hikes, which should hit early this summer and there are plenty of incentives for buyers to act now.
Here are 10 reasons why Little Beach Cabins might be better than big ones...
•1. Less Expensive to Purchase: Smaller houses are generally cheaper to buy than larger ones of similar construction and location unless something is really wrong...
•2. Lower Property Taxes.
•3. Cheaper to Heat in the wintertime: I guess I could say spring and fall around here too..
•4. Less Expensive to Maintain: Replacing a roof on a little cabin is going to be a lot cheaper than a big house.
•5. Easier to Clean: Again, less square footage to clean.
•6. Less Space for Clutter.
•7. Cheaper to Furnish.
•8. Smaller Environmental Footprint: Less materials used in the process means lower energy consumption...
•9. I've sold over 22% of all the brand new little beach cabins in Ocean Shores since 2008 and I work with more little cabin builders than anyone out here... So if you're going to buy one, there's a good chance you'll end up working with me!
•10. Because they're cute and little is in.
If you want more information regarding these little cute little beach cabins, give me a call or send me an email. Thanks!
New Homes Specialist
Residential Construction Certified
Vacation Home Specialist
Associate Broker/Coldwell Banker Ocean Beach Properties