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Wednesday, September 11, 2013

Can't Find That Dream Home? Build it!
Can't find the home of your dreams?  Build it!
Inventory of existing homes on large lots in the Conejo Valley is still low.  Building a home can be the solution.
With land loans virtually non-existent, what are a buyer's options? Cash offers will result in the lowest possible purchase price.
Otherwise, a land buyer must wait for planning commission approval of the house plans in order to procure a construction loan. Unfortunately, not all sellers will tie up their property for 6-12 months waiting for approvals before closing the sale.  The best compromise is for the buyer to pay the largest down payment possible to convince the seller to carry the land loan. A 30% to 50% down payment is reasonable.  Some sellers can and will carry the land loan until a construction loan can be procured.
Once the financing issues are resolved, then the real work begins - plan to spend $50,000-$100,000 and easily a year of pre-development time before breaking ground. Topographical surveys, geotechnical testing, percolation and ground water testing, civil engineering, hydrology studies, biology and tree reports, architects, structural engineering, fuel modification plans, energy calculations, health and fire department approvals, rendering and elevations,  making zillions of copies of everything and paying fees for everything, getting three bids from graders, framers, foundation contractors, electricians, plumbers, drywallers, painters, roofers, window installers, A/C contractors, carpenters, landscapers, etc. just about sums up the process.  Some people do it while holding down a full time job - they are my heroes.  These people deserve the prize: a custom home exactly the way they wanted it. 
If all of this sounds like your cup of tea, consider these new land listings in Agoura and Westlake, respectively:
Remarkable 40-acre parcel of raw land near Agoura Road and Liberty Canyon. 588' x 20' unpaved driveway leads to flat pad with tranquil canyon views. The potential for this utterly unique parcel is limitless - private custom estate, vineyards, horses, riding trails and so much more. Major cross streets are Liberty Canyon and Agoura Road. Lot is behind gates at the end of the cul-de-sac on Country Glen Road next to 27572 Country Glen.  Listed at $1,500,000
Nearly 12 Acres on Cul de Sac near North Ranch  Westlake Village - short sale, in default.
Posted at 12:59:23 AM
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