Mike Dantas had a big decision to make as the local real estate market started crumbling a couple of years ago: either keep making payments on vacant land or build something.
For Dantas, co-owner of Dantas Building Co., the decision was fairly simple — build.
“We’re builders — that’s what we do,” he said.
But more specifically, Dantas and his brother, Dave, are in the business of building “spec” homes — homes built without a specific buyer in mind. That business used to be a big part of the Vail Valley real estate business. Now, it may be harder than ever to build a place you intend to sell later.
What Dantas ended up building in Avon’s Wildwood neighborhood is a foundation and two fairly modest homes. The foundation was sold to another builder — something spec builders don’t usually do. The other two homes will sell for between $550,000 and $649,000. In 2007, those prices would have been much higher.
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