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Old 11-09-2010, 03:02 PM
 
Location: Raleigh, NC
11,806 posts, read 27,477,826 times
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Typically in any tract built community, you are going to have to add between 10% and 20% to the base price to get your real price. Plus, there may be lot premiums.

Once you are educated to this fact, it will become much easier for you to understand the price of your home.

Vicki
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Old 11-09-2010, 04:24 PM
 
371 posts, read 1,008,167 times
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Thank you so much for all of your input

We did do more research into this and also talked to some people besides one of my friends who live in the Community. We took a tour of the houses under construction and the constructed and ready-to-move in homes.

We did not like the box shaped rooms (no curves, arches etc and found out that arches are not offered there). My friend showed his home and explained the differences between the base home that they give and the price for the options he paid (surprised by the amount of upgrades that you need to have. Most of those are standard in other communities, per him). He paid about $50k above the base price on a 2640sq ft home and still, he explained, he got most of the stuff standard (like faucets, lamps, kitchen which is a non-gourmet etc etc). One thing he mentioned is that KB quality is not as bad as before and it definitely has improved based on his experience and that of his friends

One person who bought a 3800+sq ft home 2 years ago told me KB dropped the base prices while removing most, if not all, the upgrade options. KB also downsized many floor plans. He said people who bought when he bought are at a disadvantage since when it comes to price comparison with new homes they loose.

Otherwise, Twinlakes location is fantastic. It is not built on a hilly place without any ups/downs. It is close to Davis drive and shopping area convenient for everything. Its look and feel are very nice
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Old 11-09-2010, 04:26 PM
 
Location: Morrisville, NC
7,705 posts, read 10,098,552 times
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Quote:
Originally Posted by VickiR View Post
I'm not sure what you mean by smaller and lower end? I sold homes in TL when they first began (after they dropped the crazy "Martha Stewart" prices) about mid way through and now have 2 clients doing pre sales. All of my clients' homes are between 3000 and 3200 sq. ft. All are between $290s to $325s, except for very first one. That was an inventory home that we got for a really good price!

TL has changed some of the "standards" that they were doing. No more is a stamped concrete driveway a standard. What else have you seen?

Vicki

Well, if you drive out and look at the two new models beside the 2 or 3 they kept it looks almost like a 3/4 size house by comparison. Plus lots of exterior details are gone.
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Old 11-09-2010, 05:15 PM
 
Location: Raleigh, NC
11,806 posts, read 27,477,826 times
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Quote:
Originally Posted by Sherifftruman View Post
Well, if you drive out and look at the two new models beside the 2 or 3 they kept it looks almost like a 3/4 size house by comparison. Plus lots of exterior details are gone.
There are many other plans beside the models.

There are also townhouses. They are also smaller. The section with the one car garages are also smaller.

We are going to have to agree to disagree but I stand behind my opinion that tract builders do not equate to shoddy construction.

Vicki
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Old 11-09-2010, 07:33 PM
 
Location: Fapex
15 posts, read 11,305 times
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Typically in any tract built community, you are going to have to add between 10% and 20% to the base price to get your real price. Plus, there may be lot premiums.

Once you are educated to this fact, it will become much easier for you to understand the price of your home.

Vicki

^^^^^^ This is the first I have seen anyone say such a thing. Why would anyone plan on starting with list price and work their way up. That's horrible negotiating. The buyer should try to pay less than the list price and get as many upgrades included at that price as possible. It's a buyer's market out there and it's pretty much insane to pay list price and pay for upgrades. Twin Lakes is not a type of neighborhood where people are clamoring to upbid to get in.
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Old 11-09-2010, 07:44 PM
 
371 posts, read 1,008,167 times
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They are saying it is no thrills - no frills pricing meaning you buy only what you want and customize the home according to your budget instead of get all and pay hefty amount. I believe their largest plan is about 3250sq ft
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Old 11-09-2010, 07:46 PM
 
Location: Raleigh, NC
11,806 posts, read 27,477,826 times
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Quote:
Originally Posted by prosportsfan View Post
Typically in any tract built community, you are going to have to add between 10% and 20% to the base price to get your real price. Plus, there may be lot premiums.

Once you are educated to this fact, it will become much easier for you to understand the price of your home.

Vicki

^^^^^^ This is the first I have seen anyone say such a thing. Why would anyone plan on starting with list price and work their way up. That's horrible negotiating. The buyer should try to pay less than the list price and get as many upgrades included at that price as possible. It's a buyer's market out there and it's pretty much insane to pay list price and pay for upgrades. Twin Lakes is not a type of neighborhood where people are clamoring to upbid to get in.
You need to go back and read what we are talking about. I am not talking about negotiating. I'm speaking about base prices of homes that are in tract neighborhoods. You misunderstand.

The POINT is that you cannot go into these n'hoods and pay the price they are advertising. You cannot live in THAT HOUSE at THAT PRICE.

Vicki
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Old 11-09-2010, 10:18 PM
 
Location: Morrisville
1,168 posts, read 2,082,244 times
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Quote:
Originally Posted by VickiR View Post
You need to go back and read what we are talking about. I am not talking about negotiating. I'm speaking about base prices of homes that are in tract neighborhoods. You misunderstand.

The POINT is that you cannot go into these n'hoods and pay the price they are advertising. You cannot live in THAT HOUSE at THAT PRICE.

Vicki
You could live in those homes....you just wouldn't have a doorbell, peephole, icemaker line......

The whole point of me bringing up the "what do you consider poor quality" side of things was to get the point across that you did.

Not all tract builders are crummy construction. It's a shame that just because a home is built by a national homebuilder it automatically gets lumped into the crappy construction category. I'd be willing to bet that there are million dollar homes that have some of the same problems that a $200,000 tract built home does.

And also to address the comment about negotiating on a pre-sale home...regardless of the market it doesn't happen. Builders don't negotiate on pre-sales. Thats why they have "promotions".
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Old 11-10-2010, 08:34 AM
 
Location: Morrisville, NC
7,705 posts, read 10,098,552 times
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I never said that all tract builders or even KB are shoddy construction. Maybe someone else did, but I was merely pointing out that the fact that somethign has been inspected and meets code is nowhere near an indication of quality or that all houses that are inspected are of equivalent quality.

I can't even begin to tell you the number of things that are missed on inspections. Nearly all of them try very hard and take their jobs with the seriousness they deserve, but even the most conscientious inspectors can't see everything even if they had all day and they have only minutes to do their job at each site usually.

My specific "complaint" about Twin Lakes is that they started out with a certain vision that includes the size of homes and the style, including exterior detailing and now they apparently are deviating pretty significantly from that. I jog through Twin Lakes multiple times per week and while I fuly understand that various sub-neighborhoods within a larger development have different specs, it seems to me that in Twin Lakes, they are infilling on currently empty lots in the middle of homes built to a higher standard. Maybe that will have no effect at all? I kind of doubt it, but thats why I am asking the question of the realtors here.
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Old 11-10-2010, 01:13 PM
 
Location: Morrisville
1,168 posts, read 2,082,244 times
Reputation: 1113
The harsh truth?

Thats the risk you take when you purchase in any new neighborhood. I've seen this happen first hand. Just because a builder starts with one type of product doesn't mean they are going to finish with the same product. As the market changes so does housing product. A builder wouldn't be in buisness very long if they stuck with one product line from the get go.
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