Florida Builders Are Going Smaller

Builders are snapping up cheap real estate in Florida, paying 40 percent to 60 percent less than they did during the housing boom. While a glut of foreclosed properties remains, builders are beginning to build new homes that are smaller than those built pre-boom, often positioned to compete against foreclosed properties. Because land is cheap, builders are able to make money selling homes as small as 1,800 square feet, built for about $150,000 and sold for $160,000 to $170,000, says Steve Fusilier, principal in Fusilier Realty Group in Orlando.

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