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Old 01-24-2011, 09:32 PM
 
41 posts, read 142,660 times
Reputation: 46

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So, this is my first post here... I have searched for recent posts about Prescot and that area (Quellin, Cureton, etc...)
I guess I have just a couple of updated questions and other concerns...
If anyone from the area has input on, I appreciate opinions/advice...
So we recently signed a contract with KB Homes to build in Prescot ($2k down and can back out but will lose)... Since signing, I've personally heard the gun shots, smelled the treatment plant while in Prescot... I have read the comments about the home price decline and asking about travel time... Travel was big for us since we live in Blakeney now, but its about 12 min down Marvin School road for us, so not too bad vs down Providence... Not having all of the shopping nearby is really going to stink, I saw that in the Kensington area there is a lot of space for retail where it looks like they put on hold any further development...
I think we are worried what if development in Prescot stops again...
From what I know Timberstone hasn't sold too many homes since they started in April of 2010. KB Home has 14 lots with only 2 left, don't know much about LiveWell... but I know the developer is still holding onto a lot of the land and isn't giving it up at the price they recently have so KB might pull out (according to KBhome sales people) ... Our home after some nice upgrades is about $160 ... I can't think that it would, but I guess its possible for our home to even loose value too... 130k if the market keeps going down / stays undeveloped? What do you think?
Does Waxhaw have actual Plans for more development anytime soon? We'll miss our favorites, Yoforia, Trader Joes, Earth Fare, Target, CHick-Fil-A, Nothing But Noodles, all about 15 min to Blakeney / Stonecrest... Anything nice in Downtown Waxhaw? ... Does anything think in the next 3 years there would be a significant increase in retail and shopping in Waxhaw?
I know Prescot has taken a beating on the larger homes, but if we are starting out at $160, how bad could it be, right?
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Old 01-24-2011, 10:16 PM
 
904 posts, read 1,402,792 times
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What does your realtor say?
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Old 01-25-2011, 07:31 AM
 
41 posts, read 142,660 times
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Thinks it's a "great time to buy" and in a "developing" area at the lowest price around Waxhaw... But I want to hear from other people in that area who may know more / different side..
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Old 01-25-2011, 08:30 AM
 
904 posts, read 1,402,792 times
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Quote:
Originally Posted by intellegentz View Post
Thinks it's a "great time to buy" and in a "developing" area at the lowest price around Waxhaw... But I want to hear from other people in that area who may know more / different side..
He or she doesn't give any negatives?
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Old 01-26-2011, 01:34 PM
 
Location: Wesley Chapel
396 posts, read 1,502,299 times
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In an economic state such as our current one, buying in an area where there have been several neighborhoods that have been "sold back to the banks", you'd better do your homework. We know a family in Prescott and they will be living in that house for a long time because it's worth 30% less than what they paid for it....they are not counting on the city or county doing any development. There just, frankly, isn't the money flowing into Waxhaw like there was 6 years ago. If your plan is to sit tight and live in the house for a LONG time...then it might be an ok investment. But make sure you have a clear understanding of what your HOA obligations are what they include.....not what the amenities might be. It's better to be out $2K than $20K
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Old 01-27-2011, 07:56 PM
 
41 posts, read 142,660 times
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Thanks indraman ... I definitely am trying to weight out the 2k vs. a loss of a home if we sell under 5 years from now. Good points...
I guess our problem is (family of 4 in Blakeney apartments) by law we have to move out since my wife is due in september (making our family into 5 people in a 2 bedroom) and the 3 bedroom goes up to an extra $300 a month!!! Where as Prescot would be about an extra $50 a month, KB Homes sold 14 lots within the last month... It seemed like it may work out... Also don't know about that treatment plant smell, my 2nd time back and I smelled it... I guess I have to spend a saturday there and talk to every person that walks into that Kensington shopping center. I really don't know what to do...
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Old 01-28-2011, 12:08 PM
 
Location: Charlotte, NC
554 posts, read 1,315,819 times
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I was looking in that neighborhood too! KB homes seems like a good deal and a "how could you possibly go wrong" situation but when I did reviews, the company didn't get such good reviews! Livewell homes are nice...I'm still thinking of purchasing in there. I think it's a no brainer that you shouldn't buy unless you are fine with staying for awhile if need be. Good luck!
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Old 01-28-2011, 02:13 PM
 
41 posts, read 142,660 times
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What kind of Reviews did you see and from who?
I went online to JD power and assoc and they were the aware Recip for NEW HOME QUALITY and came in very good on some of the other categories...
KB was the cheapest in the neighborhood (kind of what attracted us)... Timerstone (factoring incentives and standard features) are about 12k higher and Livewell are almost double that...
Them having almost 70-80 vacant lots worries me and with no Target or Chick-Fil-A for 15 minutes, ... it's a bit scary!
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Old 01-28-2011, 03:01 PM
 
Location: Charlotte, NC
554 posts, read 1,315,819 times
Reputation: 286
I just typed in KB Homes reviews, this is what I found:

New Home Reviews - KB Homes Rating (http://www.newhomesreviews.com/USA-Builders/K/KB-Homes-Rating.php - broken link)

Consumer complaints about KB Home

myLot - KB homes...

*KB Homes* | San Francisco | Yelp

the list goes on and on....I think it looks good on the outside but it's poorly built so for me I'd rather pay $20,000 more for a better built home. It's too bad, it was attractive and I was excited to find it. Livewell looks like a nice home builder - I liked realtor and she also told me that the company was started from a guy that previously worked for Bonterra Builder (MY FAV!) and another guy from Centex. They both thought they could do a better job and decided to start their own company! I really like that you have a lot of options for floor plans and exterior plans as well....
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Old 01-28-2011, 03:06 PM
 
Location: Charlotte, NC
554 posts, read 1,315,819 times
Reputation: 286
Oh and also, I'm scared about investing in a new neighborhood too. I loved Millbridge and almost moved there last year (had the pen IN HAND to sign final papers) but it scares me that they are going to have 1000 homes in there - 10 year plan? I have no doubt that Waxhaw will grow but no one really knows WHEN! I live in Blakeney as well and I often think the same way you do - I'm going to miss my quick trips to Blakeney Shopping, Piper Glen Shopping, Trader Joes, ect. but then again Waxhaw's housing prices IN MY OPINION will only rise in the future and with the USDA loan they offer now (who knows how much longer they will offer that in that area - its growing), also the school districts are good, and most importantly it's SAFE! I'm with you completely on being torn...ugh, decisions, decisions...let me know what you decide, i'll be curious to know!
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