“Build It and They Will Come” Real Estate Development

“Silicon Valley Spec House Seeks $42.8 Million.”

—Headline, The Wall Street Journal.

For the uninitiated, a “spec” or “speculative” house is a home that a developer first builds, then tries to sell.

That’s opposed to a home that’s commissioned by/for an existing client, and built according to their specifications (and budget).

To calculate the usual going rate for spec homes here in the Twin Cities (vs. Silicon Valley), subtract a digit.

Then divide by two or three. 🙂

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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