SAN JOSE, Calif. -- At 453 square feet they are smaller than a suburban two-car garage, but a British builder says he expects r booming business Saturday when his 96 minicondos go on sale in California's high-rent Silicon Valley.
'The response has already been overwhelming, and we haven't done any advertising,' Shirley Norris, sales agent for London-based Barratt Corp. said Wednesday.
'We're expecting the proverbial land-office business,' she said. 'We'll have people directing traffic, 10 agents to write contracts and lenders on hand to approve loans.'
At an average of $50,000, the tiny units are less than half the average cost of other 'starter' homes in the high-tech valley south of San Francisco, according to the San Jose Real Estate Board.
Barratt opened its first California minicondo development last year in neighboring Fremont. They sold out in three weeks.
But residents have to give up a little room for the security of owning their own place.
'Scrunch' parties are considered record-shattering if a dozen people can gather in one of the smaller units.
Maureen Van Itter, 26, bought a minicondo last year in Fremont, and to her 'it's the perfect housing solution.'
'Sure, I plan on moving to something bigger later when I can afford it,' she said. 'I think my dog needs more space.'
Mary Pattis, whose 453-square-foot studio condo is the smallest Barratt offers, said it's the smallest place she's ever lived -- and one of the best.
Ms. Pattis, who, like many minicondo owners moved from a giant apartment complex, said the compactness of her condo gives her a sense of security.
'I feel very secure here,' she said. 'It's much nicer than a big apartment.'
A sense of security runs through most of the Fremont minicondo dwellers, according to a survey commissioned by Barratt.
The survey also found that they had an average income of $22,559; had an average age of 34.3; were single by a vast 79 percent majority; were white-collar workers, and considered their minicondos stepping stones to larger units.
