In all cases, purchase price is determined by agreement between buyer and seller. How the buyer gets the money for the purchase only affects how much money is available for the purchase.
If you want to compete in the spec housing market produce a spec house.
While you are saving your money, design the house. The spec house builders all started by building one house. If they are building today, the only logical conclusion you can reach is that they did a good job of it. If you have a better idea of what value is you better make sure your potential buyer agrees with you. If they don't, what do you think they will pay for your values?
Value is determined by the buyer. It would be a mistake to expect all buyers to have your values. Ask yourself the question: What does this buyer want?
Complaining about the market is useful only if you can use it to clarify where opportunities lie for housing design which addresses a value unmet by the competitors. For example: Very low energy expenses, very beautiful spaces.
Finally, the majority of spec housing is created by publicly traded corporations. It is a commodity market not unlike the automobile market. You really have to ask yourself if you want to compete in that market; Do you want to sell GM or Lotus? Traditionally, architects have found the Lotus buyers to be a better match to their skill set.
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Victor Wolbrink AIA NCARB
US Army Corp of Engineers
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