Speculative Builder Tax

speculative builder tax

Speculative builders are subject to real estate excise tax on the selling price of the land along with all attachments including buildings, roads, and other structures. The sale of real estate is not subject to the B&O tax or retail sales tax.   A speculative builder is the consumer of all material incorporated into the real [...]

Homes Built for Speculation: Spec Home Rules

spec home rules

When you build a spec home you are creating an asset that will be sold to another person. Spec homes are built in anticipation of a sale; therefore, a construction contract does not exist. You do not use the rules for home construction contracts, which are contracts to build a home with four or fewer [...]

Australian Spec Home of the Year 2009

Australia Spec Home

The Australian Housing Industry association has awarded the finalists and Winner of the 2009 Spec Home of the Year Award. Now this is the kind of contest that we at spechomes.com can get into, and (featured to the right) the type of spec home that any home builder would be proud to display. Congratulations to Craig Sheiles Homes. [...]

Organize New Construction Warranties with WarrantyElephant.com

WarrantyElephant is a great website designed for storing and organizing warranty information.   For new home construction or custom homes, you often have a ton of warranty booklets and product information scattered about your new home. After moving in, you often have additional work done which may have a warranty associated with the work.  Warranty Elephant allows [...]

Home Builders drywall problems Made in China

CPSC has received about 608 reports from residents in 21 states and the District of Columbia who believe their health symptoms or the corrosion of certain metal components in their homes are related to the presence of drywall produced in China. State and local authorities have also received similar reports. Consumers largely report that their [...]

Spec Homes Leveled by Bailout Bank

Have you read the headlines surrounding the demolition of 16 never lived in, new homes near Victorville, California? Patrick Thatcher, staff writer for the Daily Press first posted this VIDEO on Youtube. Guaranty Bank says knocking the homes down is cheaper than finishing them, making some wonder if it could happen here. The Texas-based bank has decided to have the [...]

Under Construction – New Home by Centex in Cy-Fair

Cy-Fair, Texas – New Home Under Construction   $220,529.00 4 Bed 2.5 Bath 2,625 Bldg. Sq. Ft. 19914 Folly Fields Drive Cypress, TX 77429Lot Size 7,500 Sq. Ft. Schools Cy-Fair Year Built 2007 Description Brand new Centex Estate Home in it’s newest community in Northwest Houston in the Cy-Fair school District located in Cypress, Texas.  [...]