Anyone moved/moving to the Martha Stewart KB Homes in Morrisville? (Cary: brokers, house prices)

[JRS]

All this is great information - I'll check out those other subdivisions too.

Thanks for the advice on bringing a local realtor, however, I am a realtor myself so I am comfortable with going on my own.
However, if we do decide to go with existing sales, I'd work with you...PM me your contact info. I have to check the reciprocity in NC but I am pretty sure I have to take another state exam for NC specifically.

NYer...I'll keep you posted on what we do - maybe we'll be neighbors?

Keep the suggestions coming!

I wasn't too psyched about the Kitts Creek floorplans either - they are really cool architecturally but small for what you pay for in that area (in my totally green and mostly uninformed opinion - ha ha).

[VickiR]

I took some clients out to see the new Martha Stewart townhouses. They liked them alot until they went to KB's design center and found out that alot of the "designer items" that they wanted were not even available. Nothing like showing a woman something she really likes and then telling her she can't have it! Anytime I take my clients onsite to a new community, the first thing I ask is what is the base price and what is the amount of options that most people add on. Seems to be anywhere from 10% to 20%, except in the case of Lennar, who is now adding the options in for you. Works for me, as it becomes a nightmare to walk through a model home and see all the features that are "extra". I went back to Twin Lakes about 2 weeks ago and found out that alot of people that were under contract got out of their contract simply because they also went to the design center and found out they can't get what they saw. Martha Stewart and KB Homes are now building a brand new neighborhood in North Raleigh that will be more expensive than Twin Lakes so maybe they have worked out the bugs??? Vicki

[apexres]

KB homes too close to each other....
this looks like to Olde England streets where you could shake hands with your neighbors without either of you leaving the inside out of your house...through the windows !!!

[NYer]

Originally Posted by VickiR

... I went back to Twin Lakes about 2 weeks ago and found out that alot of people that were under contract got out of their contract simply because they also went to the design center and found out they can't get what they saw. Martha Stewart and KB Homes are now building a brand new neighborhood in North Raleigh that will be more expensive than Twin Lakes so maybe they have worked out the bugs??? Vicki

Isn't Martha giving away a home on her show? Maybe to drum up business.
Sheesh, seems easy to fix this problem- find vendors to offer the options you are already showing. That has to be cheaper than having the place not sell at all!

[momof3boys]

Hi,

My husband and I just moved to NC from Miami and we love it here. We have been looking for a home for a month and a half and TWIN LAKES ,Martha Stewart homes are VERY nice but you would need to pack on the upgrades to make it look like a home instead of a BOX. I also do not like the lady that we were currently working with so we just had to change. She made comments that we were looking for a home out of our price range BUT, how does she know how much we are willing to spill!!!!.... We put in a offer for a home that I know was a little low for them but COME ON.... PRICES are DROPPING and I am not the only one that knows this .... it has been on the news and all around that it is just not the time to buy and to wait till the end of the year and early next year when the prices really come down. I have been watching the prices of Twin Lakes, Martha S. and they have fallen like $25,000.00 to $30,000.00 since July just like Taryn mentioned and BELIVE ME they are still comming down. Just look at this that was published in the KBhomes website-------> this is what the CEO of KBHOMES had to say
"Our third quarter results reported in this release reflect the challenging operating environment for the homebuilding industry,” said Bruce Karatz, chairman and chief executive officer. “Greater competition among homebuilders and imbalances in supply, demand and affordability in a number of markets have adversely affected our unit deliveries, revenues, pricing and net orders for the quarter, and we do not expect conditions to improve
significantly in the foreseeable future. Until the supply of unsold homes is reduced and affordability improves, there will continue to be pressure on pricing like any other industry. However, we believe our experienced management team and sound operating disciplines will allow us to navigate through this difficult environment and position the Company to take advantage of future opportunities once the homebuilding market stabilizes.”
"Conditions in formerly strong markets, such as California, Nevada, Arizona and Florida, have weakened considerably in recent months,” said Karatz. “These and other markets have experienced a rapid change in investor
activity from buying to selling homes as well as decreasing home purchases by non-investors leading to a relative oversupply of new and resale inventory, lack of affordability and high cancellation rates. These market conditions have increased competition among homebuilders, many of which have responded by aggressively using discounts, incentives and price concessions to close sales thereby creating competitive pressures that have required us to do the same in some cases. While it is difficult to predict when markets will normalize, in the long run we believe underlying fundamentals, including favorable demographics and job growth, and our geographic diversity bode well for the long-term growth prospects of our business. However, we expect that market conditions for the remainder of
2006 and into next year will have an unfavorable impact on our year-over-year net income comparisons.”
BUT these people still have hope that they can still sell these homes for an outragouse price because what they sell you is a box and you need to load them up and spend 45,000.00 in upgrades to make a little difference.
So what can I say WAIT WAIT WAIT WAIT or you will be lossing money!!!! Prices will come down or just offer a lower price and see what happends.

[VickiR]

I will say this again...Twin Lakes/KB Homes is dropping prices on their townhouses...already in inventory...and you must close in Novemeber...$18,000 OFF plus a $10,000 gift card to Best Buy or Rooms to Go.

Single family homes in inventory...prices dropped and I know of an agent in my office that got $69,000 off for her client!

Hopefully, prices out there will go back up in the spring so any discount you get now is wonderful!

Vicki

[brettkeoki]

my wife and I checked out this community last week. although the exteriors of the homes were quite appealing, we didn't like it mostly because the homes are close together and the community is directly underneath the flight path for RDU...the planes flying overhead are quite loud. you may want to also consider these observations:

-the standard inventory homes were bare bones. no upgrades. they even had laminate countertops.
-inventory houses had no mirrors in the bathrooms as Martha likes the fancy mirrors...I guess KB didn't want to pay for that????
-be aware of a new street they are paving through the middle of the development (I believe it is Airport Blvd. ??). This street goes right IN BETWEEN the clubhouse and the rest of the houses in the subdivision. Note we asked the saleswoman about this and she repeatedly answered under her breath so we couldn't understand (planes were flying overhead at the same time). We had to ask her 3 times to get an answer we could hear.

Although the models were impressive, the saleslady said the upgrades in the models would cost up to 25% of the home price.

[momof3boys]

Hi,
Has anyone got offered a great deal at Twin Lakes/KB Homes/ Martha Stewart single family homes??? because if they are offering a BIG DISCOUNT at their townhome inventory they must be doing something for those interested in the homes.
And also does anyone know of GREAT communities of New Homes?? We are really interested because we just got relocated here... any advice would be well welcomed!!!.... thanks

[VickiR]

Originally Posted by momof3boys

Hi,
Has anyone got offered a great deal at Twin Lakes/KB Homes/ Martha Stewart single family homes??? because if they are offering a BIG DISCOUNT at their townhome inventory they must be doing something for those interested in the homes.
And also does anyone know of GREAT communities of New Homes?? We are really interested because we just got relocated here... any advice would be well welcomed!!!.... thanks

As I have previously stated...on the INVENTORY homes, one agent in my office got $69,000 OFF for her clients. I saw the contract with my own eyes! The sales associate at Twin Lakes told me and my client that on the home she liked, we could get $75,000 off. Vicki

[momof3boys]

Thinking about the Twin Lakes/ Martha Stewart/KB Homes I really dont like that I would have to cross the major street Airport Blv. to take my kids to the pool and other amenities NO WAY !!!!.... and also when it comes to selling the home its a big negative due to that Busy street. 'WAY TO NOISY'
I am now thinking about Kitts Creek ... They are a little WILD in color and style but that is my personality.. I just have not seen the layout of the homes. I plan to check them out this weekend after I HIT the fair.... Any other suggestions in communities near the RTP???