All Forum Posts by: Molly Bortz-Druffel

Thanks Will for your response. That makes sense. I actually just worked with a client who went through the same thing in Mt. Adams but the cost to build on the hillside and reinforce the hill would have blown his budget. This lot is in Indian Hill and I've seen lots listed there as low as $400k and as high as $1.2M.The $1.2M lot would make the house extremely expensive, even for IH, if the builder used the old rule of thumb. Are the people who buy these lots just not concerned with the cost? I actually had a client lose in a bidding war for a 10-acre tear-down in IH and he offered $1.2M cash. How do I even begin to price this with these comps? I'm representing the seller so I wouldn't have knowledge of the building plans. Thanks!

I am a Realtor located in Cincinnati and I am trying to understand if there is a general formula to determine the percentage of the total budget that should be designated for land for a new residential construction project in a very well-off and established neighborhood. There seems to be a very wide range of list prices for land in this neighborhood (that is actually listed) and most of the lots are similar as is the zoning code, school district, etc.. And most of the land sold to custom home builders happens behind the scenes so I can't use those numbers because I don't have the total construction budget. And most of the builders stay mum when I ask. Can anyone provide any insight please? This makes it very hard to price a lot with a tear-down on it... I have spent way too much time researching this when I could have just deferred to the experts here on Bigger Pockets! Thank you!!!

Thank you for all of the welcomes! I'm excited to be here. I already love the podcast, which is what brought me to the site. I'm eager to learn more about everything and to create a solid, supportive network. And I'm sure I'll have lots of questions!

Hello! I've grown up in the real estate industry thanks to our family business and I've been lucky to watch our city change dramatically for the better over the last decade. I am a licensed Realtor but I'm interested in rental properties and flips too. I guess it's in my blood! I'm also interested in growing my client base.