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Postgreen Homes Sales Updates

by Nic Darling on June 3, 2009 · 6 comments

in Development,Press and News,press release,sales

There are many reasons why we haven’t been as active on the blog recently, particularly when it comes to basic announcements. Today, we are going to assign blame to Twitter for making it seem easy to keep everyone updated on the day to day details. But, of course, many of you are not on Twitter and will probably never be on Twitter, so our updates are not getting to all of the people that matter most (our blog readers are the people that matter most according to a recent survey of Postgreen employees). We want to apologize for that and attempt to remedy the situation going forward.

Many of you remember reading about the 120k house going back on the market. We posted that when our first buyers, for reasons of their own, decided to back out. What we forgot to tell all of you on the blog is that we resold the house three days later to a very nice couple. Since then we have settled on the house and that nice couple has moved in. We are now working on wrapping up the punch list and making sure everything is in good shape for our new buyers.

We have also sold both the homes in the Passive Project which is currently under construction. The buyers of those homes are now waiting for us to finish building so they can move in. We are working hard to make that completion date as soon as possible. SIPs, windows and siding should all be going up over the next week or so and we will be posting construction updates soon.

The next project, a three house project in the same neighborhood, is currently in the preliminary stages. We are handling zoning and gathering investors right now. Soon we will begin offering the homes up for pre-sale and you will definitely hear about that here.

That should catch you up on the sales side of Postgreen Homes. As I said above, we are going to improve our blog side announcing, but if anyone would like to get on the Twitter information express you can follow me, Chad, 100k House or Postgreen Homes. Get the updates first and then heckle us when we forget to put them on the blog.

Something to say about this? Put it in the comments.

If you enjoyed reading this post I can promise you'll love our new writing over at Postgreen Homes. Yeah, we know that's the same thing your favorite band said and their new album is nowhere near as good as their early stuff, but seriously, we are actually still getting better.

There also isn't much conversation to be had here . . . at least not with us. So come on over to the Postgreen Homes Blog and tell us what you think of our new(ish) digs and crazy ideas. We will be sure to tell you what we think of your opinion.

{ 6 comments… read them below or add one }

1 Rob June 3, 2009 at 11:48 am

Bout damn time! :) Seriously though the twitter updates are great, but there is no way for me (and others) to comment back (as I dont have a twitter account…yet). Comments on the blog almost always add to the content of the blog, so keep up with the bloggin. And thanks for this update!

Will you be blogging about the passive houses or 3 house project like you did for the 100k/120k homes?

2 goran June 8, 2009 at 10:00 am


It seems that it took an awfully long time to finally close on the 120K house, and while its hard to tell exactly why from the blog, my impression is that its because that’s how long it took to actually complete construction, and finishing. Also, it seemd from some of the Twitter, that the members of PostGreen were personally involved in some of the final interior finishing (staining, etc.)

Do you have any concerns about the completion time of the project, and the amount of time required from PostGreen themselves? Will the current process scale to the two projects under construction now, and to the 3 proposed projects?


3 Nic Darling June 9, 2009 at 5:35 pm

Rob – We definitely intend to pick up blogging more again and will hopefully be getting started with that this week.

Goran- It did take quite a bit of time to reach settlement by our standards, though from what I hear October to early June isn’t actually that bad for new construction. Some of the reason for this was definitely related to construction delays caused by weather, ordering problems and other unforeseen issues. However, we also ended up delaying settlement for the buyers which caused us to hold off on some finish work that might have taken place earlier. Chad will no doubt discuss all this further in his project wrap-up posts.

Postgreen was involved in a little of the finish work on this project. Mostly this was out of some foolish desire to be involved which we both have come to regret. There was also an element of late night cramming as we underestimated the time involved in a couple of the projects we took on. This led to some pretty heavy Twitter complaining. The time spent by Chad and myself is factored into the budget and actually, things will probably move a little more smoothly now that we have decided to avoid manual labor in all future projects.

The process should scale well. However the current project is the same size as the first and the addition of a third home in the proposed next project is not much of an increase. Our builder, in his past life, built hundreds of homes in a single year, so we think he’ll manage to keep up. That said, we are asking our team to do many things which are new and different so some delays here and there are inevitable.

4 Kevin D June 10, 2009 at 9:13 am

Tell us a little more about your sales… for example, the majority of homes are still sold through a Realtor (usually two Realtors), but that was supposed to be changing because of all the easily obtained online information. Do the buyers still find you through the MLS or did they googled something?

5 Richard Alexander June 21, 2009 at 5:26 pm

Did you throw in a fre security system? How about a $1000 gift certificate to Smith & Wesson. The city is just getting worse, and the price run up from 2000-2005 was an anomaly based on financial imprudence and luring in naive and unqualified buyers into the market. My guess is that the buyers will get tired of the grafitti and the crime and move to CC or Bala in a few years and take a big loss; either by dumping the property into a normal market at about $190k or renting it out at a crappy ROR until their price point comes back in around 2016 or so.

6 Nic Darling June 22, 2009 at 9:21 am

Kevin: Sorry for the slow reply. The settlements and sales process are still handled by Courtney (Chad’s wife and a partner in Postgreen), who is a Realtor, and often a second Realtor that represents the buyer. We still list on the MLS, but so far our buyers have found us through the blog or related PR.

There is a cost to using Realtors, but we have found the extra expense to be worth it, particularly when one needs to hold a deal together in this mortgage market. We also can’t avoid the involvement of a buyers agent in most cases since most people bring one on early in their home search (as they probably should).

Richard: Sounds like you have had a rough time in the city at some point. I’m sorry to hear that, but I take some offense to the idea that my neighborhood is a crime ridden graffiti fest. We certainly have a little of both, but there are enough positives that one is inclined to stick around and make things better rather than run away (or start shooting).

Philadelphia’s “price run up” was not the same as what we saw in many parts of the country. As a major city, Philly was fairly undervalued (often for good reason) and the rise in prices we have seen over the past 7 or 8 years has been more of a correction than a symptom of the bubble. We see a growing realization that denser, urban living is the future. A move to the city is a move (however small) away from the disastrous culture of cars we have established in our suburbs. More and more people are continuing to make that move.

I would be fairly surprised if the value of our homes took a precipitous drop since they all sold after the bottom fell out of the housing market. I would also be surprised to see the buyers of our homes move to Bala or Center City since, as far as I’ve seen, there isn’t much like our houses in either place. In fact, I think we will see more people getting tired of climbing in their car every time they walk out of their door and moving into the city where they will become a part of reducing crime and pushing for a higher quality brand of graffiti.

But, of course, that is just my opinion and I am a little biased.

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