Karl a Real Estate question for you

[Islandman]

Do you know if there is any kind of estimate of the " average building cost" per square foot in Florida or maybe areas within Florida?

What I mean is a figure that represents the cost per square foot of what it would cost to build a "typical" residential property in Florida given building codes, etc.

I'm thinking that insurance companies must have some kind of information like this when they calculate the replacement cost of homes.

[Gamma]

not a real estate man but i am sure the area has a lot to do with the cost because the surrounding neighbourhood in all cases affect the cost of a home and not just to build i would imagine

[Karl]

Do you know if there is any kind of estimate of the " average building cost" per square foot in Florida or maybe areas within Florida?

What I mean is a figure that represents the cost per square foot of what it would cost to build a "typical" residential property in Florida given building codes, etc.

I'm thinking that insurance companies must have some kind of information like this when they calculate the replacement cost of homes.

Re: Insurance companies on "average cost of building"
They sure do! ...but I cannot give...do not know what it is!

Before I left JA (1990) I used to divide the asking price of a home by 3 and take that as reasonable estimate of what it cost to build. ...I found that worked in the US up until about 10 years ago. I have not really checked lately...but up until January 2008 I 'subconsciously' - used that method for guessing what it cost to build resudential property. If I am to go by the prices builders are now asking for new residential construction it would appear that my 'rough calculation held'.

Have you ever visited the web site B4UBuild?

http://www.b4ubuild.com/faq/faq_0002.shtml

[Islandman]

Never visited that site before, it seems pretty useful, thanks!

I've been asking a few persons who have an idea about this and so far the figure I am hearing for a modest home in FL seems to be in the $90-$110 per square foot range. None of them are actual builders though, I need to find a few or people who have access to them.

The REAL reason I am interested is to compare the going home prices I am seeing in this real estate downturn to the cost to build a similar property.

In some areas in FL it seems as if prices are coming reasonably close to that building cost figure, I guess it could even go below cost for a while until the large backlog gets reduced.

I am going to have to google some more and try to get a better feel for this.

[Karl]

Never visited that site before, it seems pretty useful, thanks!

I've been asking a few persons who have an idea about this and so far the figure I am hearing for a modest home in FL seems to be in the $90-$110 per square foot range. None of them are actual builders though, I need to find a few or people who have access to them.

The REAL reason I am interested is to compare the going home prices I am seeing in this real estate downturn to the cost to build a similar property.

In some areas in FL it seems as if prices are coming reasonably close to that building cost figure, I guess it could even go below cost for a while until the large backlog gets reduced.

I am going to have to google some more and try to get a better feel for this.

If you are thinking of buying?
We have a real estate agent who advertises on this web site ...and yuh dun kno what I do! Mortgages!

[Islandman]

Heh heh, ok sah.

Right now just looking around and trying to make sense of this mess.

[Karl]

I am right here...awaiting your call!