Comments on: 120K House Web Only Sale – Now till Oct 1st

By: Just Under a Week Left on the 120K Exclusive Subsciber Sale | 100khouse.com

Just Under a Week Left on the 120K Exclusive Subsciber Sale | 100khouse.com — Thu, 25 Sep 2008 21:44:56 +0000

[...] is just under one week left on our subscriber only promotional sale of the 120K House. It will end on Wednesday, Oct 1st when we list it for sale on the MLS. My wife and Realtor is [...]

By: chad

chad — Mon, 22 Sep 2008 14:29:32 +0000

money – We are not losing money, but also not making the margin we hope to on future houses. The $100K is for construction costs only and the figure is closer to $120K for the 120K House (surprising, I know).

We feel the market rate of this home is a bit higher than $250K (something closer to $265K), so we are trying to offer it a bit lower to our subscribers for a short period.

For this to work in Philly (or anywhere) we need to be able to get the land for $50K or less in an area that the finished home will appraise for $250K or more. I hope that helps answer your feasibility questions.

By: money saving tips

money saving tips — Sat, 20 Sep 2008 15:08:55 +0000

Very cool. Is there a breakdown of costs somewhere ? I’m reading the $100k as purely construction costs, and that items like the cost of the lot weren’t included in that.

Just trying to get an idea of whether the sales prices of $250k reflects something that could be replicated elsewhere, or if you are losing a bit of money to make a splashy statement.

By: Bill Marston

Bill Marston — Fri, 19 Sep 2008 05:06:36 +0000

Amazing effort: clear thinking, razor-like goal setting, stick-to-it-ive stamina; inventive and creative from website to name-branding to marketing. What a lucky city to have retained or attracted Chad Ludeman to live in Philly! . Now let’s watch Philly stand up to a further tumbling of the lending marketplace.

By: chad

chad — Thu, 18 Sep 2008 23:09:41 +0000

Thanks guys! I just edited the post to include the mortgage rep’s info that we recommend to all potential buyers in case anyone has questions about mortgages or to estimate a monthly payment.

By: Rob

Rob — Thu, 18 Sep 2008 13:21:57 +0000

Good luck with selling the house. Makes me start to wonder about having just bought a house in Lancaster.

By: darin

darin — Thu, 18 Sep 2008 03:02:14 +0000

I love the exclusive early online sale! Brilliant!

By: lavardera

lavardera — Thu, 18 Sep 2008 02:12:23 +0000

forgot the link:

http://www.planphilly.com/node/3908

By: lavardera

lavardera — Thu, 18 Sep 2008 02:12:07 +0000

Interesting article on rebounding housing in Phila. I think the 100k house(s) are perfectly positioned to benefit and facilitate this.