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Old 09-06-2017, 05:15 AM
 
5,869 posts, read 7,700,210 times
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Quote:
Originally Posted by CLT4 View Post
Just down the street, a new home development is going up with homes in the mid-300's and you get a move in ready home with a 2017 kitchen. I'm sure after buyers look at this home, they go sign up for the new construction.
Is it really mid-300's though? If it was, I think OP would have already gotten one of those. OP has a somewhat specific request - a specific area, in a specific size and a specific age range for a specific budget. It doesn't seem like all of those things really exist together, but if they compromise on one of them there are more options. The closest thing I could find was the Cedarvale Farms neighborhood, which although a bit further out looks to at least be currently zoned to Hickory Ridge (although if I had to guess and without knowing any specifics about the situation, that may change). But it has new construction in OP's price range.
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Old 09-06-2017, 07:04 AM
 
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Quote:
Looking primarily in Harrisburg for 3,000 sq ft, newer home 350k or less.

3,000 sq ft is huge. Why not look for less?
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Old 09-06-2017, 10:24 AM
 
Location: Charlotte NC
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Quote:
Originally Posted by JoeP View Post
3,000 sq ft is huge. Why not look for less?
some people want it all.
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Old 09-06-2017, 10:37 AM
 
Location: US
551 posts, read 451,076 times
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3,000 sq ft is not what I consider huge. That just gets you about a 4 bedroom home with *maybe* a bonus room. I would take something a little smaller than that even if the quality was nice. I just rather get a home I could grow into instead of one I need to move out of in a few years because of limited space.

The reason why the cheap Vinyl only homes are selling (like Founders Reserve, Magnolia Springs, Brookedale Commons etc) is because many foreign workers are being hired from the big money banks. They are paying for relocation and that 45' lot Vinyl tract home, while distasteful for Southerners, looks very attractive to the H1B Visa employee who is used to apartment or borderline hovel living.

BTW, there are is even more development coming to the Harrisburg area. Taylor Morrison is building a 420 home subdivision this Spring. Ryan and Essex are building another 285 neighborhood near Robinson Church Road. This was all approved by the Harrisburg City Council. I'm hoping this increase in Inventory helps bring down prices and helps give us buyers more choices.

Last edited by harrishawke; 09-06-2017 at 10:47 AM..
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Old 09-06-2017, 10:49 AM
 
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Quote:
3,000 sq ft is not what I consider huge. That just gets you about a 4 bedroom home with *maybe* a bonus room
The average home size a generation ago was generally well under 2,000 sq ft, so yes 3,000 sq ft is large.
Yes some families do need the space, most don't. That doesn't mean that people shouldn't get such homes, if that's what they want and they can afford it.

Part of the affordability problem is that too many homes now are that size and many people can live in smaller space and if they homes were smaller, they would be more affordable. This isn't true in every case, but certainly in a lot cases.
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Old 09-06-2017, 10:51 AM
 
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Quote:
Originally Posted by harrishawke View Post
3,000 sq ft is not what I consider huge. That just gets you about a 4 bedroom home with *maybe* a bonus room. I would take something a little smaller than that even if the quality was nice. I just rather get a home I could grow into instead of one I need to move out of in a few years because of limited space.

The reason why the cheap Vinyl only homes are selling (like Founders Reserve) is because many foreign workers are being hired from the big money banks. They are paying for relocation and that 45' lot Vinly tract home, while distasteful for Southerners, looks very attractive to the H1B Visa employee use to apartment or borderline hovel living.

BTW, there are is even more development coming to the Harrisburg area. Taylor Morrison is building a 420 home subdivision this Spring. Ryan and Essex are building another 285 neighborhood near Robinson Church Road. This was all approved by the Harrisburg City Council. I'm hoping this increase in Inventory helps bring down prices and helps give us buyers more choices.
I guess it is all relative. Average sized home in '73 was 1660 sq feet. Last year it was 2,687. Average sized household in '73 was 3.01. Average size last year was 2.53.


I have a family of 4 in a 2100 sq foot home. 3 bedrooms with a bonus. Bonus has a bathroom, so can be either. I grew up in a 1700 sq. foot home (family of 4 as well). The neighborhood is on the vinyl cookie-cutter side (small yard sold as "Charleston Style"). Has a nice floor plan and with upgrades over the past 10 years, is very nice.

I think the size of the home depends on the amount of "stuff". There is a reason one of the fastest growing segments in the market today is the self-storage unit.

The advantages of the 2100 sq foot home is less "stuff" to maintain, less sq footage to heat/air, and less to clean.


This is not intended as a poke at anyone that wants the 3,000+ sq foot home. To each their own.
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Old 09-06-2017, 11:17 AM
 
5,869 posts, read 7,700,210 times
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Quote:
Originally Posted by harrishawke View Post
BTW, there are is even more development coming to the Harrisburg area. Taylor Morrison is building a 420 home subdivision this Spring. Ryan and Essex are building another 285 neighborhood near Robinson Church Road. This was all approved by the Harrisburg City Council. I'm hoping this increase in Inventory helps bring down prices and helps give us buyers more choices.
I wouldn't get your hopes up about that if the housing market remains strong.
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Old 09-06-2017, 11:27 AM
 
Location: US
551 posts, read 451,076 times
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I actually think the housing market will cool off actually. For huge subdivisions 400+ homesites, it can take up to a decade to sell and build all those homes. Alot of hiring and relocations in the finance industry already occurred, and without any additional catalyst. You aren't going to get the same demand.
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Old 09-06-2017, 12:22 PM
 
1,452 posts, read 992,914 times
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Quote:
Originally Posted by harrishawke View Post
I actually think the housing market will cool off actually. For huge subdivisions 400+ homesites, it can take up to a decade to sell and build all those homes. Alot of hiring and relocations in the finance industry already occurred, and without any additional catalyst. You aren't going to get the same demand.
The Charlotte metro area added 50,000 people just between 2015-2016. The reason prices are rising is there are less homes for sale than people that want to live here. Assuming 3 people per household, those 50,000 people needed 16,666 places to live in just one year. So 400+ homesites delivered over a few years is just a drop in the bucket of the amount of housing needed to accommodate growth in the metro area.

By 2025, metro Charlotte is estimated to be home to 2.85 million people per the US Census vs. the 2.47 million that call the area home today.

The new housing stock will put downward pressure on re-sale homes in an area like Harrisburg for a while. I still don't see people often selling for less than they bought their home for unless they are in financial distress. They will hold on as long as possible. If there is a market correction, it will likely be part of a nationwide correction / crisis.
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Old 09-06-2017, 12:29 PM
 
Location: US
551 posts, read 451,076 times
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This is true, but Harrisburg is just one suburb. Many others prefer areas like Lake Norman, Huntersville, Uptown, Matthews, Ballantyne or Waxhaw.
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