1. Residential Real Estate Development

2. Define a Market Need –Gaps in market Price range Price range Lifestyle Lifestyle –Unique product Location Location Amenities Amenities –Quality of competition

3. Site Selection –Land Price –Location –School district –Utility availability –Access –Terms from seller –Commercial prospects –Attractiveness

4. Site Conditions –Utilities and infrastructure Availability Availability Special circumstances Special circumstances –Easements Power lines Power lines Pipelines Pipelines –Environmental concerns Ground water Ground water Wetlands or protected species Wetlands or protected species –Drainage Must retain your own drainage Must retain your own drainage Floodway and floodplain Floodway and floodplain –Ground elevations

5. Land Planning –Different markets within development Price range Price range Lifestyle Lifestyle Zoning Zoning –Lot density Size of lots and parcels Size of lots and parcels Efficiency of layout Efficiency of layout –Collector streets –Cul-de-sac

6. Proforma –Time line Total project length Total project length Phasing lots which affect tax and special Phasing lots which affect tax and special –Lot prices Lot premiums Lot premiums View out, Walk out lots View out, Walk out lots –Specials cost Maximize without getting monthly out of line Maximize without getting monthly out of line Specials buy downs Specials buy downs 20 year specials 20 year specials –Real estate taxes Agricultural deferral Agricultural deferral Based on discounted cash flows values Based on discounted cash flows values

7. Proforma –Amenity package cost Adjust to price range Adjust to price range Adjust to the target market Adjust to the target market –Landscaping Berms, sprinklers, trees, sod, water wells, Berms, sprinklers, trees, sod, water wells, –Monuments and Art –Engineering –Financing cost –Management fee –Legal fees

8. Sales and Marketing –Builder program Developer commits to holding lots Developer commits to holding lots Builder commits to building model and specs Builder commits to building model and specs Picking builders Picking builders –Strong financially –Easy to work with –Know the builders strength and match to your project Value Value Quality Quality Models mix and spec house rules Models mix and spec house rules Full complement of plans and prices within the range Full complement of plans and prices within the range –Sales In house so don’t compete with outside realtors In house so don’t compete with outside realtors Control information going out Control information going out Agent doesn’t get distracted with other outside listings Agent doesn’t get distracted with other outside listings