Woodland Homes/Walden Preserve (days on market, for sale, real estate)

[ionlife]

As part of our househunting expedition, we were very intrigued by Walden Preserve but found it was overpriced. We are investigating various ideas and have spoken with people down in Hville about this builder. I just found out today that Woodland has upped the 450 HOA pool dues to 600 and that he is desperate for $$. Does anyone have more info?

I like Walden--looks like it is established. And if anyone has info regarding Cedar Springs Subd. I'd appreciate it! Also Chapel Hill.

Thanks All

[HsvMike]

Cglover, I just checked the MLS and all the active listings, the HOA fee is still set at $450 / yr. I have not heard anything about Woodland Homes being in a money crunch, but some builders are feeling the market right now. I am not sure if Woodland homes even runs the HOA anymore, typically after a set number of homes are built, the HOA gets turned over to the homeowners.

What info would you like about Cedar Springs and Chapel Hill?

[ionlife]

Does Chapel Hill have a pool? what are the days on market -- average -- for houses in area-- and this HOA dues-- my understanding with Walden Preserve is that Woodlands is strapped for cash and is hiking stuff to the homeowners re: HOA dues--also the pool and clubhouse are much smaller than they were told and they are being assessed far more $$ to pay for it...

what realty co are you with?

[HsvMike]

Chapel Hill does have a pool and clubhouse and is listed at $400/yr for HOA dues. The average days on market for comparable homes to Chapel Hill are 7 mos. +. The market has slowed which makes it a great time to buy. If Woodland Homes is doing that, it's not a very wise move. I have heard a lot of good things about them. I am with Rise Real Estate.

[ionlife]

I'm going to confirm the Walden Preserve info this week. Thanks for intel re: Chapel Hill's DOM--of course we're facing similar concerns in the DC area--our townhouse is on the market as of 2/16--priced right and we have an aggressive realtor who knows her stuff. We hope to sell in a month, but could take up to 3 mths to so so. We don't have to move till school year 08/-09 starts in Hville. But we've always built. With a 6 mth turnaround that might not be an option. How new are the Chapel Hill homes?

Christine

[HsvMike]

Hi Christine,

I am going to ask around as well on the Walden Preserve info, let me know what you come up with. You won't find a home in Chapel Hill over 5 years old. Some of the oldest ones were built in '04. So they are all fairly new. There are two homes active right now in Chapel Hill that are new construction, and 7 total for sale.

[ionlife]

I spoke with someone who built in Walden Preserve a and moved in a year ago. Yes the dues were changed just recently to offset a loan the builder took against the HOA to the tune of $500,000. In general the person I spoke with is very pleased with his home and location, but incensed with this unusual increase. The community is fighting it. He also said that Walden Preserve/Woodland is doing construction loans now rather than using downpayments to start construction. They are strapped. He also said the pool and clubhouse they were shown in photos looked a lot bigger and more opulent than the small one they received (I've seen it and I doubt it is worth 500K). I still love the area and location and floorplans, but I'm wondering if other builders can build there now. I've heard rumblings about it from other people we know who have relocated to the area.

It's good to know that the Chapel Hill subd. is quite young--might be a good negotiation point. I've been told to ask for the moon and above in upgrades if I build from scratch--

I just want a nice house, in the area we've chosen -- we might consider chapel hill if the right layout and floorplan comes onto the market. I've seen the two that are listed. Nice, but not our style as we want most bedrooms on main level.

Thanks for info!

[HsvMike]

Originally Posted by cglover

He also said the pool and clubhouse they were shown in photos looked a lot bigger and more opulent than the small one they received (I've seen it and I doubt it is worth 500K).

I agree it does not look like it took 500k to build. Thank you for the info, if you need anything else just let me know.

[Southeastern]

We live in Bishop Farms and have been pleased with our Woodland home. Our HOA is transferring to the homeowners next month, and the fees are $500. The clubhouses for Walden Preserve and Bishop Farms look similar in size, though BF's pool is smaller.

Switching to using construction loans is probably just a more prudent use of cash as homes start to take a little longer to sale.

Regarding the question on other builders coming into Walden Preserve. That will not happen. Woodland is also the developer of Walden, not just a builder. And besides that should have no bearing on the HOA fees.

[ionlife]

Thx Southeastern! I love the floorplans for the development. what floorplan to you have?