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Old 03-03-2009, 06:31 PM
 
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Any Thoughts on this subdivision?? How Can one foreclosure affect the pricing in the comunity??
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Old 03-03-2009, 07:29 PM
 
Location: Union County, NC
1,891 posts, read 5,555,697 times
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Park Providence was built by Pulte, off of Providence Road.

Usually one foreclosure in a neighborhood won't affect pricing drastically, but if there are several then pricing will be affected. It appears that the last two sold in there were bank owned and there is one on the market that seems to be as well. My guess is that pricing would be affected in that neighborhood. If you are preparing to write an offer, have your realtor include the most recent comps when submitting the offer. Sellers should take the justification in account when responding to your offer.
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Old 03-03-2009, 07:37 PM
 
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Thanks for your comments Any thoughts why are so many on sale?? is it a good neighborhood??
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Old 03-03-2009, 09:30 PM
 
Location: Union County, NC
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Good is a relative term -- what some think is good others will not. I like the neighborhood, some of the lots are nicer than others. That subdivision does not have a community pool while some of their competition does offer that. I don't know why people are moving. I believe the middle and high school assignments will change for the next school year, but check with UCPS to be sure.
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Old 03-04-2009, 05:33 AM
 
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Quote:
Originally Posted by playandlearn View Post
Thanks for your comments Any thoughts why are so many on sale?? is it a good neighborhood??
There is only 9 for sale. That isn't a lot at all.
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Old 03-04-2009, 06:11 AM
 
Location: Union County, NC
1,891 posts, read 5,555,697 times
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Yes there are only 9 for sale, but it is not a very large subdivision. I'm not sure how many homes are in there, but my guess is fewer than 100. Again whether or not this is a lot is relative.
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Old 03-04-2009, 05:09 PM
 
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I'm not sure what the price point is for this neighborhood. Do they have phases that are priced differently? It seems to be that the houses seem to be cookie cutter types placed way close together. Lots of vinyl siding (which can be problematic if not installed properly). Unless you got just a great deal, IMO, I would think that there would be better options out there.
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