RE:RE:RE:RE:Opening PRICE!Here is the recent history of housing prices in Tehachapi. This is the price of a median home in Tehachapi per square feet:
$163/sq.ft. June 2018
$164/sq.ft. June 2019
$168/sq.ft. June 2020
$211/sq.ft. June 2021
$238/sq.ft. June 2022
Altus Projection $272/sq.ft.
The projection was conducted by Altus back in January so it's likely Altus did not take into account the likelihood we're heading into a recession in their projections. So this makes me think maybe the offer is fair. Plus Phantom Developments take on all the risk the rest of the way.
But on the other hand, given the inelasticity of the housing supply to increasing home prices and the attractiveness of sustainable homes that won't have to rely on fossil fuels (which are becoming increasingly expensive) for electricity and heating, maybe the projections are realistic or even conservative?
And then I'm also thinking that since Phantom has put management under the gun to make a decision within one week, it tells me they want to pressure management into making a quick sale. We've already waited this long. I'm willing to tell Phantom thanks but no thanks and wait and see if there is a better offer out there and live with the consquences if there aren't.