“Spec House,” Defined

“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. 🙂



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