Need info on Michelle Point in Toano, VA (Richmond, Newport News: for sale, 2010)

[PChildres]

Hey guys and gals.... been a while since I posted on here. After I moved I just kind of lost touch on coming here for more information. Anyways I am back and I live in a apartment off of Longhill Rd in Williamsburg and will be looking for an AFFORDABLE house soon. I was told by my coworker that there is a new development down on route 60 in Toano called Michelle Point: Health E Community Enterprises, Building Energy Efficient Homes in Newport News, Richmond, and Williamsburg, VA

Does anyone have any information on this? I know Mr. Williamsburg will chime in lol I'm just curious what peoples thoughts on this developement is, as the pricing seems great for the size of the house, and also just on the outskirts of Wmsbg!

Thanks in advance for any help!

[Mr Williamsburg]

Have you been there yet ? What do you think ? Maybe when its built out the looks will improve. It's a littl emessy right now..It is the least expensive detached home development in James City County. With that being said what price range are you looking at ? Prices range from 189k to $237k. If you are looking at 220k or above you might want to consider other communities. Low HOA fees ( $30 monthly)

Happy to chime in anytime..

John

[PChildres]

Well I live in Williamsburg now... and I'll look in the paper or online at houses for sale, and they'll be marked at $200k and are complete dumps. If they took off 50% i still wouldn't pay that much for it. So looking outward from Williamsburg is a good idea, but I still can't get into anything too expensive. I'm on lease still with my apartment until 2/11 I believe but I want to start looking/planning now.

I haven't even drove by the community yet, but the price range sounds good for what you get, and it'll be a new home so thats a plus as well. John, do you have information on the squate footage on the different models? Website doesn't tell you much besides floorplans. I've tried calling the #'s on the website for more information in a brochure or something but I can't get ahold of anyone.

Thanks John for all your help.

[Mr Williamsburg]

PC,
I agree regarding the comparison between lot of resale and new at those price points. The homes at MP originally started at $295k so they have been reduced drastically. So far 19 families have closed and are living there and 12 homes are under contract. It's slated to have 110 homes when complete, 20 town homes and 90 detached. Most of the lots in the lower price ranges are 4200 square feet +/-.
Smallest model is 1340 square feet, 3 BR, 2.5 baths, 1 car garage, $189,900 + they will give you $7k if you use C&F Mortgage and JBW&K to close + the $8k tax credit looks like it will be extended thru next year as well. The proposed change will extend to contracts SIGNED by April 30th and must close by June 30th, 2010. Home owner fees are $30 monthly and go towards common area maintenance. Taxes will be about 1300 annual. A mortgage payment for the $189k home with taxes and insurance would be approx $1150 or less including insurance and taxes (assuming 5% interest rate). Lower rates are available if your income is below a certain levels.

The other models all have one car garages and the following specs.

1490- sq feet, $199,900, 3 br, 2.5 bath
1660 square feet, $213k, 3 br, 2.5 bath
1755 sq feet, $218,500,3 br, 2.5 bath
1850 sq ft, $223,500, 4 br, 2.5 bath
2100 sq feet, $235,900, 4 br, 2.5 bath

[PChildres]

awesome information!!! It sounds tempting with the $7,000 tax credit. Cause honestly, I don't think I could actually SAVE $7,000 in a years time. Thing is, I have a baby due in April and we're having to switch from a HMO to a PPO and are having to pay like 20% of everything next year. So I'm looking at this mountain before the home-buying mountain.

Thanks for everything though. John, do you have any additional pics that I'm not finding online of Michelle Point?

[Mr Williamsburg]

[Mr Williamsburg]

I know I have more but am a terrible photo organizer. I have thousands of photos I have taken but 80% are not grouped and in various photo proograms on my compueter. Need to spend a week and do that.

[Mr Williamsburg]

PC,
Its an $8k Tax credit + $7k towards your closing costs. ( which should cover all of them) the only thing you will need is down payment.

[PChildres]

I just got home from riding through the neighborhood of Michelle Point. Smaller then I expected... I'd still like to look inside to really know what I'm seeing, but just thinking of the square footage, then also adding 3 bedrooms into that square footage, then adding in the size of the staircase, I can't imagine the rooms being too large. Oh well, I'll see. So to get this deal paperwork has to be signed by 04/30 and it must close before 06/30. Something to think about and look into.