At less than $170 a square foot (and with larger than average lots, .25 acre and .5 respectively) I am certiainly willing to check them out.
By my earlier calculations sub $180 a square foot means a green light for shopping.
Of course at this point, when the averages for Folsom and El Dorado Hills are still way above $200 a square foot, I don't have high expectations. In my experience, when it looks too good to be true....it usually is. (However hubby is very handy, so a light fixer is okay, if not preferable in my book.)
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Resales (used homes) are always less than new, to account for wear and tear assuming all other things equal, but landscaping mature, pool and rear yard already installed for much less than new is typical.
Do not underestimate the cost of redo and repair. Watched an episode of "flip this house" where at least 2 flippers missed the budget by over $100K.
I was just talking with my appraiser and as a Folsom home owner I was happy to hear that Folsom values are holding better than surrounding areas.
That is primarily due to Harry Elliott's control of most of the buildable land and that, as a private builder, he can and will shut down production quickly when oversupply threatens.
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