The Inman News Service holds two conferences each year for Realtors called Inman Connect, one in New York in January and another in San Francisco each July. These conferences are well-attended by Realtors from all over the country and feature panels composed of founders, CEOs and presidents from many of the top companies, giving the attendees a look into the future of all things real estate.
The keynote speaker was Arianna Huffington, founder of the Huffington Post. Her presentation covered a myriad of observances and reflections, but her main message focused on the value of human capital and her determination to inspire those in the audience to take better care of their physical plants, i.e., their bodies.
Huffington says we have become technoholics suffering from addiction to devices and, although they may think that they are multitasking, they are in actuality task switching or even switch tasking. She says this conduct is robbing the population of its passion and that most are not investing 100 percent in anything, rather 60 percent in one area and 30 percent in another, while 10 percent tries to discern what take precedence.
Magic happens only when a person is 100 percent involved, she adds.
She relates a personal story of taking a college tour with one of her daughters and returning home exhausted, only to faint, breaking her cheekbone and requiring five stiches on her face. That was the wakeup call that inspired her to pursue sleep.
She noted that many boast of their lack of sleep and wear it as a badge of honor, with such quotations “I’ll sleep when I’m dead.”
When inviting Washington, D.C., colleagues to breakfast, she notes, she usually shoots for 7 a.m. Some retort, “Well that’s kind of late, but I can work it in after my squash match and a couple of calls to London.”
She recalls a recent dinner with a man who bragged of having only four hours of sleep the previous evening. “I started to tell him, if he had slept five hours, the dinner would have been much more enjoyable,” she adds.
Huffington now serves on the Harvard School of Medicine board for sleep deprivation. She urged all in attendance to sleep more and maintain the body so that the person it serves can reach his or her potential.
Sale of the Week
The sale of the week is the house located at 5209 Nevada Avenue in Sylvan Park. The home, built by Brent Craig’s Rigid Development, has 3,216 square feet and sold for $635,000.
The listing agent was Wilson Group member Christie Bradley, Rigid’s Sylvan Park’s right-hand woman, who assists the Rigid team in guiding the buyer’s through the new construction process.
Recently, Bradley was speaking to a real estate firm composed of mainly Green Hills/Belle Meade experienced agents who had not followed the Sylvan Park market and were astounded that houses regularly sell for more than $650,000.
According to Realtracs, 11 houses have sold for $600,000 or more in Sylvan Park since May. By comparison, during the same period, eight single-family homes in the 12South area sold for more than $600,000 during that span, and two of those were Brent Craig/Rigid Development homes.
Sylvan Park is keeping up with the Joneses in the hip, trendy, culturally creative department.
Several of Craig’s competitors say Craig pays an exorbitant amount for the houses he eventually replaces with his construction. Worthy of note is that Rigid builds one residence on the lot that formerly housed one residence.
So, in the eyes of those in the know, he acquires the properties at more than market prices and constructs one house on lots on which he could have built two.
Such a business model would seem to be a recipe for financial disaster, especially if Craig can deliver quality and acceptable amenities.
Yet consistently, Rigid has delivered well-designed homes, with allowances for quality fixtures, appliances and décor, on time and on budget. The homes have high ceilings, real hardwood floors, tiled bathrooms with showers, extensive moldings, granite countertops, an impressive array of cabinetry choices, and master bedrooms on the main living area.
In another deviation from most homebuilders, Rigid is flexible.
As the process goes, the property is acquired and the listing agent – Christie Bradley in Sylvan Park – places a “to be built” or “coming soon” sign on the lot. Within a few days, the house is under contract, and Rigid begins the “dating period.”
During that time, the buyer can visit other Rigid homes in various stages of construction and pick and choose a floor plan. With most builders, the buyer must take what the builder offers, but Rigid has in-house architects that refine and modify the plans in order to suit the specific needs of the buyers.
The builder directs the buyers to predetermined vendors familiar with the Rigid product, who then offer discounts to Rigid buyers for selection of finishes. This does not limit the buyer to these suppliers, as the allowances may be applied to any outlet.
The schedule is strictly followed and the homes are delivered on or ahead of time.
Rigid’s planning, organization and scheduling must be the source of profit, as many builders seem to lose their profits in carrying costs – taxes, insurance, interest and overall overhead.
Bradley’s experience on the real estate ensures the buyers are qualified and will not delay the process.
Richard Courtney is a partner with Christianson, Patterson, Courtney and Associates and can be reached at [email protected].