moratorium on new home building in Union County? (Charlotte: home builders, to buy)

[robretpd]

Does anyone know anything about this?

[DawnW]

I am not the expert and I am sure others know more than I do, but Union County is just growing too fast for the schools and water/power, etc....to keep up.

There are enough building plans already approved to accomodate the next couple of years' worth of building so it won't affect them, just the any new plans for development.

It is kind of nuts down here. Where you used to be able to buy a plot of land and build, developers have jumped in and bought all the land up and are putting in sub-divisions.

Dawn

[robretpd]

I wonder if that means that builders in subdivisions who have lots but they have not been released will be able to get the County to release them, or they can only build on released lots?

[Samohtal]

Did this just come out on the Charlotte news, or something? I haven't heard anything about this (and I don't yet live in the area) but would be interested in knowing. I just bought a new construction home in NE Union County and think this is probably a good thing - but don't know the specifics.

[cltman]

I have the same query as 'robretpd'. How does the moratorium effect a subdivision which has lets say planned to build 200 homes and have only 50 lots released. Can they build only those 50 homes ? Can the Builder/subdivision get approval to release the other lots (phased approach) while the moratorium is in effect? Where can I get answers to these questions ?

If the answer is the subdivision cannot build any more houses, how is the value of the existing homes effected. Has anyboby been in such a situation ?

[robretpd]

I saw hte issue o a moratorium in another thread and my realtor mentioned it to me without going inot details.

[MJPost32]

When we first where looking in Oct. we were told this. It was in the paper and all the home builders told us so we were well aware. We took it as a good thing and that is why we bought our house right there on the 1st trip. We wanted to be part of the action b/c if they can't build then who knows how long it would take for us to find another new house down there in our price range..probably never and we knew we wanted new contruction. SO yes there is definitely one in place. However, I don't know how that affects already half way built subdivisions. I do know that my community ST. John's forest has not released any lots since Oct. so maybe that is the reason...which would suck!

[businessperson]

There was a moratorium on new building permits for about 15 months I think. It was lifted on October 03rd, 2006.

[jan7725]

Originally Posted by MJPost32

When we first where looking in Oct. we were told this. It was in the paper and all the home builders told us so we were well aware. We took it as a good thing and that is why we bought our house right there on the 1st trip. We wanted to be part of the action b/c if they can't build then who knows how long it would take for us to find another new house down there in our price range..probably never and we knew we wanted new contruction. SO yes there is definitely one in place. However, I don't know how that affects already half way built subdivisions. I do know that my community ST. John's forest has not released any lots since Oct. so maybe that is the reason...which would suck!

Hi I bought in October my lot in St john's Forest and a house as well there. I have noticed my particular model has gone down 16k in price drastically in under just 4 months. My husband says that just like what happened in Florida the market fluctuates and it will go back up and lots will be released most likely. I don't see lots not being released here just prices going way down which sucked for us! I emailed the KB rep and have not heard from him as of yet.

[businessperson]

I think your husband is right about the market fluctuating. Building costs have gone down slightly recently. New home prices follow that trend. They are likely to go back up.