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11-07-2007, 06:36 PM
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32 posts, read 68,346 times
Reputation: 13
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Twin Lakes-Morrisville(Make you sick as a resident)
I went over to the Sales Center 2 days ago to see how much the base pricing has gone up. Wow was I shocked.
Bedford @ Twin Lakes base pricing for all elevations has gone nearly 10-15 K down. Basically, I placed a deposit on my home for $239,999 in May 2006. Current base is $230,000 for their new section, which is the same elevations and floorplans as Bedford @ Twin Lakes. You have to be kidding me?
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11-07-2007, 09:47 PM
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Location: Raleigh, NC
9,011 posts, read 12,751,741 times
Reputation: 4525
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I remember that KB Homes dropped all their base prices about $20,000 a few months ago.
Get your Realtor to fight to have them compensate you in some way.
Vicki
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11-07-2007, 10:28 PM
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Location: Cary, NC
2,405 posts, read 5,898,350 times
Reputation: 1259
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It's is incredibly disheartening when your neighborhood values go down. I was looking to relocate into Twin Lakes but learned that they had never raised the base prices since they started development. In contrast, a lot of other developments have been raising prices every "phase."
I did notice that while the floorplans are the same or similar, with the newer homes they have made minor changes to the blueprints. It looks like they are cutting costs. For instance, new blueprints show the elimination of dormers, mouldings and other costly features.
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11-08-2007, 05:57 AM
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What did I tell you about this development a few months ago? Just be careful where you buy. BUT it seems no matter where you buy these days you could have a drop in prices with the new construction anyplace. Things are weak in the economy. Housing is going thru a correction, how deep who knows. You gotta live someplace, find the nicest place and then move there. Forget about the other prices because it will make you crazy. Kinda like when you buy an airline ticket for 300 and the person next to you got the ticket for 225.
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11-08-2007, 06:00 AM
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Location: Raleigh, NC
9,011 posts, read 12,751,741 times
Reputation: 4525
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Twin Lakes started out TOO HIGH. There was too much hype with the Martha Stewart name. Too many buyers from out of state came in and purchased homes with contingencies. THEY were the ones that drove up the price.
However, when they could not buy, KB realized they had priced too high. This was at the BEGINNING of the neighborhood.
Their lack of sales and the market dictated the price. KB realized they had overpriced and overestimated the market from day one. Therefore, they reduced all prices.
NOW they are priced right. How do I know this? I've sold a few houses out there and I've watched this neighborhood since day one.
KB thought just because they said "Martha Stewart" that this would inflate the price. KB was wrong.
Vicki
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11-08-2007, 06:35 AM
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88 posts, read 227,536 times
Reputation: 39
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Quote:
Originally Posted by VickiR
Twin Lakes started out TOO HIGH. There was too much hype with the Martha Stewart name. Too many buyers from out of state came in and purchased homes with contingencies. THEY were the ones that drove up the price.
However, when they could not buy, KB realized they had priced too high. This was at the BEGINNING of the neighborhood.
Their lack of sales and the market dictated the price. KB realized they had overpriced and overestimated the market from day one. Therefore, they reduced all prices.
NOW they are priced right. How do I know this? I've sold a few houses out there and I've watched this neighborhood since day one.
KB thought just because they said "Martha Stewart" that this would inflate the price. KB was wrong.
Vicki
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Ditto this! We'd been watching the neighborhood for a good long while before we moved here, and it was very obvious when they found the right pricing, because after several drops, they've now hovered within a decent price range for an extended period of time. It's a huge community... so I expect a slow, but steady increase.
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11-08-2007, 07:00 AM
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Location: Piedmont NC
4,598 posts, read 6,047,359 times
Reputation: 8985
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Isn't there yet another Martha Stewart neighborhood starting-up somewhere? or did I dream that? I think I saw an ad for another neighborhood under development, and recognized the homes from Twin Lakes being used in the ad.
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11-08-2007, 07:02 AM
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88 posts, read 227,536 times
Reputation: 39
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Yes, the Wynbrooke community in North Raleigh. Offers a lot of the same floorplans, but the prices are a bit steeper.
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11-08-2007, 03:55 PM
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Location: Cary, NC
2,405 posts, read 5,898,350 times
Reputation: 1259
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Quote:
Originally Posted by waterbabies
Yes, the Wynbrooke community in North Raleigh. Offers a lot of the same floorplans, but the prices are a bit steeper.
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They are a big steeper but the lot size is a lot bigger (.25 vs. .13 acre). They are also bult with crawlspace instead of slab. |
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11-09-2007, 07:33 AM
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32 posts, read 68,346 times
Reputation: 13
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Is it possible for my agent to get compensation for me? How can she do that?
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