House built by students for sale
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| Roy Sykes photo Keith McCulloch, left, is the listing real estate agent who will sell the house constructed by students at Lewis and Clark. Charles Henke, right, has designed the past six houses and teaches the building trades course. |
The house completed in 2008 will be sold differently. The three-bedroom ranch will be put on the market at $334,900 at a time when fewer houses are selling and their time on the market is increasing.
The change raises questions about whether these houses specially designed and built by students are immune to the woes of the housing market."In most cases, we have people waiting in line to purchase them," said Kim Fitterling, principal of Lewis and Clark Career Center in the St. Charles School District. "I know the markets are different now, but we'll see."
Fitterling, who once lived in a home built by students, said people find out about the homes often by word of mouth.
"(Buyers could) be anybody," she said. "It would probably be someone who has an interest in living in St. Charles city. Up the past few years, there haven't been too many new subdivision in the city."
This year, the house for sale is located on the first lot in the subdivision owned by the school district, the Trails of Lewis and Clark, off Old Muegge Road.
Nineteen houses are planned for the cul-de-sac, and the district is trying to find space to expand to another subdivision once this one is complete.
Charles Henke, who teaches building trades, has designed the homes and taught students how to build them for the past six years. He said he's not worried about the house selling because the best materials are used.
"The economy is low, but these houses are decked out on the inside," he said. "I've put some really nice stuff in them."
The house includes an inverted vault in the great room, Brazilian hickory hardwood floors, a jacuzzi tub and zoned heating.
In previous years, the homes have been listed and then opened to bids for two weeks. Each of the homes has sold for more than $300,000 in the past few years.
This year's house was appraised at $345,000 and $325,000. Keith McCulloh, the listing real estate agent, said it was put on the market for $334,900, which is a price that attracts a smaller buyer pool.
"I think when we get over the $200,000 mark, we're going to get into more of a problem," he said.
Often it can be more difficult to qualify for a loan at that price, he said.
McCulloh said 120 fewer homes were sold in St. Charles County this year than last year.
"We were doing pretty good until we got into July," he said. "Then we took a small dip in appreciation."
But McCulloh said he thinks the pool of extra houses on the market has shrunk somewhat and the market is turning around.
As the listing agent, McCulloh is able to show the home, as are other agents. He plans to advertise in newspapers and by holding a reception for agents in September.
An added bonus for the houses in the neighborhood is the location, he said. The house backs up to Harris Elementary School and is convenient to both Interstate 70 and the Page extension.
Ken Mayer, a school resource officer at Lewis and Clark Career Center, bid on a two-story house on lot No. 8 in the neighborhood three years ago and won.
After looking at new homes across the city, Mayer said he felt he got the most for his money in the Trails of Lewis and Clark home. There they put in features that would cost extra with a custom home, such as more electrical outlets, can lights and stainless steel sinks.
He said another part of the draw was the fact that the students did the work.
"I think you almost get a better house having them build it," he said.
For more information about the home, contact Keith McCulloh at keith@klosproperties.com.
