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Old 10-12-2010, 08:50 AM
 
12 posts, read 13,432 times
Reputation: 10

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My fiance and I are looking at short sale properties in the Rivers Edge townhouse community in Delanco. Can anyone give any insight to this area? There are about nine short sale properties, wondering if it's worth a shot to go through the process.

We are first time home buyers.
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Old 10-12-2010, 09:14 AM
Status: "God was not in Stalingrad." (set 2 days ago)
 
13,680 posts, read 17,621,873 times
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frankgn87 was actually looking at buying there, before he backed out. He is a regular poster on this board, so I'm sure he can chime in. This was his thread:

http://www.city-data.com/forum/new-jersey/477040-bought-townhome-delanco-last-night.html

There is also an older thread discussing this development and a lot of issues people had particularly with the builder Ryan Homes and their captive mortgage arm NVR. Overall Ryan is generally considered to be a rapid minimum spec builder:

http://www.city-data.com/forum/new-jersey/71260-looking-ryan-homes-rivers-edge-delanco.html


When it comes to Delanco, it's not a bad area. The only issue I would see with it is the high school as the kids go to Riverside, which is not the best of schools. However, you seem to be a long way off from worrying about kids in high school.

The only thing that would worry me is that Ryan had a very hard time selling the homes in the first place and there are a lot of question marks regarding the quality of the construction and the builders warranty is not transferable as far as I know. If you do a quick Google search on Ryan Homes you will see a lot of people complaining of issues. My wife and I actually looked at buying a new Ryan home at the Cinnaminson Harbor development, but then got cold feet after reading the stories and talking to some local construction folks familiar with them. When you are looking at a Ryan home you are looking at a house built to minimum specs with the cheapest stuff they could find. They look nice, but the beauty is only skin deep.

Depending on how much you are looking to spend we might be able to suggest better areas to look that will have homes in your price range.
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Old 10-12-2010, 11:52 AM
 
Location: South Jersey
7,785 posts, read 10,495,593 times
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we had $$ down on building a new one for us about 2 years ago now. We backed out and bought a single instead and SOOO glad we did. Maybe its what you guys want but we did not want to attached to a possible bad neighbor. And I would stay away from a short sale. You put in your bid and the bank usually takes months to decide on taking it or not. In the meantime your down payment is in limbo.. and you may not get the home.. for LESS then the home we were gonna get there (by far!!)you can buy a large single 4 bedroom down the street from us that was a total rehab.. Top top bottom and done beautifully.. Everything new and built 100 times better then a new home..
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Old 10-18-2010, 08:52 AM
 
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Thanks for the advice, we took a look at a couple of these townhomes this weekend and were not impressed. Roads still aren't paved and the grounds are not maintained.
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Old 10-18-2010, 10:27 AM
 
Location: South Jersey
7,785 posts, read 10,495,593 times
Reputation: 2152
Quote:
Originally Posted by mascioc2 View Post
Thanks for the advice, we took a look at a couple of these townhomes this weekend and were not impressed. Roads still aren't paved and the grounds are not maintained.

still not paved? Wow, its been 2 years since the last one was built!!
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