your thoughts on Weldon Estates vs Umstead Park (Raleigh, Cary: sales, townhomes)

[relja]

Hello, I am finally here and cruising around but wanted second opinion on these two areas. Weldon Estates is development by Orleans and has 1/3 to 1/5 acre lots with nice large homes. I am not sure about the amount of noise from airplans. Umstead Park is a very small development of about 15 homes on 1/2 acre lots near 70 and almost backed into the Umstead park. Homes start at 3,400 sqft and go up from there. I wisited both sites and talked with sales. I also have my agent checking them out.

• We have 2 kids one about to start grade school
• Both spots I can get what I want for almost the same price

What are your thoughts/experiences on

• Noise
• Future appreciation rate
• Overall area given the family status

Thanks.

Umstead park model: Weldon Estates

[I'minformed2]

Umstead Park? They are building homes in Umstead Park now? Is it near the Cary enterenace or the N. Raleigh enterance?

[relja]

Raliegh - right off Ebenezer church road behind/to the side of those town homes. Exact address is 8003 Sycamore Hill Lane Raleigh, NC 27612.

Thanks.

[relja]

Also - anyone has any feedback on quality of build on Beazer in general?

Thanks.

[Funky Chicken]

Orleans trumps Beazer for build quality IMO.
I used to live adjacent to Weldon Ridge in Cary Park. Airplane noise was present but not ever an issue.
Keep in mind that with the planned growth in the Weldon Ridge area over the next few years, appreciation will probably be minimal. You will be competing with new construction for quite a while. I am aware of one home in the Estates that resold for $30,000 LESS than the seller paid for it. Orleans was very ambitious with pricing early on in the Estates, and frankly couldn't compete with John Wieland in Southbridge. The original listing price for 305 Ivyshaw Road (in Weldon Ridge Estates) was $672,000. it eventually sold for $560,000.
Weldon Ridge got out of the gate very slowly and only started to set sales records after Orleans did 2 things-
The first was to open the "Arbor" Section which offers a very attractive price point by building very simple plans on slabs. They have NO competition in and around $350K in that location.
The second was to get real with pricing in the Park and Estates. They did this by lowering base prices and cutting content. They have also introduced new plans that are easier/cheaper to build per square foot.
I won't comment on Umstead Park-I'm not familiar.

[relja]

Great feedback. I am not looking to spend that much - market is in my favor right now. I think I can get what I want - 1/2 acre with some minimal upgrades and around 3400 to 3800 sqft for around $450 to $460K. Upgrades I am considering are those increasing sqft - like having 6th bedroom instead of two-story family room, pay more for bigger and better lot, family room extensions etc. Stuff like different flooring, screened porch etc I can do later if needed. Thanks.

[Big M]

Do a search for Beazer on this forum. You'll get a good feel for the durability of this company in this current housing market.

I know the Umstead community you are talking about. Beazer had no sales there until they hacked the prices down 50-100K. The house thats hidden back in the woods a bit was originally on the market for 635K. It got reduced to 599, and then had a weekend special where the price was down to 500K.
Its not good to drive through a load of townhomes before you get to your house. Bad resale IMO.
The houses do look good, and the location is great. Drive a hard bargain.

I can't comment on the other community. I just hate Cary and avoid it as much as I can.

[Funky Chicken]

Originally Posted by relja

Great feedback. I am not looking to spend that much - market is in my favor right now. I think I can get what I want - 1/2 acre with some minimal upgrades and around 3400 to 3800 sqft for around $450 to $460K. Upgrades I am considering are those increasing sqft - like having 6th bedroom instead of two-story family room, pay more for bigger and better lot, family room extensions etc. Stuff like different flooring, screened porch etc I can do later if needed. Thanks.

Smart strategy.

I can't stress enough the importance of lot selection. As a general rule of thumb I would trade a little bit of lot size for a level lot that backs up to woods. I can also say from personal experience that corner lots do not hold the same appeal here that they do in other areas of the country. Don't be seduced by a lot that's .5 as opposed to .35 or .4-get out and walk all of the lots. Bring a lawn chair and sit a little while. Go at all hours of day and night-be aware of the lot's orientation toward the sun. A South or West-Facing backyard will be HOT if it doesn't have shade trees.

A flat lot in the middle of a block that backs up to woods will provide you with the fewest objections at resale time.

After living with a two story family room I won't ever have one again. Too noisy, and also makes for very little control over heating/cooling. If you run the fireplace in the two story room the heat rises to the second floor, shutting off the thermostat. Any 2nd floor rooms with closed doors stay cold, and any open areas upstairs are uncomfortably hot.

[relja]

Thanks. I just saw several interesting homes in 3,000+ size pop up in the area with large lots - just east of Leesville street. They are $350K to $420K range...There is no shortage of choice here. My wife comes next week to start looking at my early research.

I am worried about NW Cary - there are plans to continue to build new homes for as far as eye can see while (as far as I can find out) - that is not the case with this NW location.

I checked the forum about Beazer - most builders are in a tight spot. Most of them will continue to lose money and there is a high chance of few going belly up or being bought out. It's the cycle - albeit this is more interesting than some others.

Thanks.

[esyed]

Could u plz let us know what the community / builder your wife saw was around Leesville street. Thanks.