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Updated over 5 years ago on . Most recent reply

User Stats

183
Posts
108
Votes
Chris Blackburn
  • Developer
  • Salem, OR
108
Votes |
183
Posts

Marketing a completed coast subdivision- developers or RE Agents?

Chris Blackburn
  • Developer
  • Salem, OR
Posted

This subdivision was originally built in 2012 70 (we own 39) lots in Pacific City- we bought it at a discount in 2014 and now looking to sell it. Originally a number a lots sold for over $100,000 each. We build a few houses, (have 3 listed) but really focusing on apartments. We are looking at listing it on Loopnet, and contacting the larger coastal builders- Oskenholt companies, (these guys are a well put together company!) or going directly to the real estate agents. I know a lot of development companies work closely with a few chosen realtors. They help sell the project and paint a vision of future sales as they typically are the ones driving the sales. This subdivision is unique that we are still the delclarant and could change the HOA/CCR to reflect the zoning change: (cue angry current home owners) (but allowed w/votes)

2) USES PERMITTED OUTRIGHT: In the PCW-R3 zone, the following uses and their accessory uses are permitted outright, and are subject to all applicable supplementary regulations contained in this ordinance.

  1. (a) One, two, three, or four-family dwelling, including townhouses, rowhouses, and condominiums.

We have also looked to the Portland business journal for the top developers- (I am not sure DR Horton is looking the hills of Pacific City to build its next project)   The Oregon Coast is beautiful but odd,  these lots would cost me over $70,000 each and 2 years to develop and trying to sell them at 2/3's of this price is hard.  I think I need that big player who is connected at the coast and do a "Bella Beach" or Ross Chapin look.  (Love Ross's Cluster subdivision).   Can I get some feedback?  -  A few suggestions were to carry the contract,  subordinate the loan if they have a qualified builder. Other suggestions?

Chris 

  • Chris Blackburn
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