What's your opinion on new SFR construction in the East Bay?

[Sam Stout]

Hey there,

    I own a vacant lot up in the Montclair hills and am wondering what your opinion is on starting new construction of a higher end rental?  I see the economy slowing down a lot, prices falling and construction costs still high.  Would you start new construction now?  I'm sure I would ask 4k-5k for rent, as I like to build nice homes, but should I tie up so much credit as the economy slows?  Are their easier ways to build on a vacant lot without tying up my lines of credit?  Thanks for your thoughts.

[Kathryn M.]

If you decide to go ahead, my newbie advice is to go with an architect/team (surveyor, civil, structural, Title24 etc) very experienced with Oakland City requirements.... could literally make years of difference to permitting process.