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Old 08-13-2014, 03:18 PM
 
2 posts, read 5,131 times
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whats happening on Remington Oaks circle, Cary 27519 - LEXINGTON PARK @ AMBERLY

I have been in house hunt since last 6 months in Cary, Morrisville, NC area for recently built homes, then these listings seem interesting. But surprisingly, I am seeing many many listings confused me. ( about 8-10 houses on same road/community) on Remington Oaks circle, Cary 27519 - LEXINGTON PARK @ AMBERLY

when I get this checked with a Realtor they just said, people are selling homes because of a job change. Really? so many move outs of this location because of job change? all at sametime?

Something is really fishy and Realtors do not want to talk about it? why would many listings on the same street want to sell their homes all at a time?

Any thoughts to share?

I don't mean to offend anyone, so please keep your egos with you and just post the information.
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whats happening on Remington Oaks circle, Cary 27519 - LEXINGTON PARK @ AMBERLY-lexington1.jpg  
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Old 08-13-2014, 03:35 PM
 
Location: My House
34,935 posts, read 36,068,421 times
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Quote:
Originally Posted by jakichandu View Post
whats happening on Remington Oaks circle, Cary 27519 - LEXINGTON PARK @ AMBERLY

I have been in house hunt since last 6 months in Cary, Morrisville, NC area for recently built homes, then these listings seem interesting. But surprisingly, I am seeing many many listings confused me. ( about 8-10 houses on same road/community) on Remington Oaks circle, Cary 27519 - LEXINGTON PARK @ AMBERLY

when I get this checked with a Realtor they just said, people are selling homes because of a job change. Really? so many move outs of this location because of job change? all at sametime?

Something is really fishy and Realtors do not want to talk about it? why would many listings on the same street want to sell their homes all at a time?

Any thoughts to share?

I don't mean to offend anyone, so please keep your egos with you and just post the information.
My guess is that some people bought there before the crash and couldn't unload their houses to sell them until now.

And some bought and are moving for other jobs, etc.

I don't think there's a grand conspiracy or any need for concern.

I just suspect people bought there quickly and thought those would be starter homes (as they're smallish) and then got stuck there because the bottom fell out. I see many were built in 2006, so that aligns with the market crashing a year or so later.

ETA: Why'd you think asking would be offensive?
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Old 08-13-2014, 03:46 PM
 
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Amberly also has a good amount of rentals and it could be people held them as rentals until as RedZin mentioned they could sell and not lose their shirt. It is a very large community.
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Old 08-14-2014, 05:28 AM
 
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I think what prior posters have said is right on. Also keep in mind that if something was really going on there.....that would affect the propert values the realtors would likely have a duty to disclose that. It is definitely an area where a lot of people held onto properties even though they'd moved on. I actually rented there while my house was being built. The guy who owned my unit was a military guy who rented the property because he didn't want to take a big loss on selling it once the market had turned.
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Old 08-14-2014, 06:12 AM
 
Location: Cary, NC
43,028 posts, read 76,529,724 times
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There is nothing "fishy" going on, so agents don't have a lot to clarify or disclose.

7 homes out of 124 are on the market.
Some are investment homes and some are primary residences.

Lexington Park is an 8 year old neighborhood and after about 5-7 years, new home neighborhoods start to turn over.
Americans move about every 7 years on average, so this appears to be typical market activity.
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Old 08-14-2014, 09:19 AM
 
1,886 posts, read 4,799,606 times
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Quote:
Originally Posted by MikeJaquish View Post
There is nothing "fishy" going on, so agents don't have a lot to clarify or disclose.

7 homes out of 124 are on the market.
Some are investment homes and some are primary residences.

Lexington Park is an 8 year old neighborhood and after about 5-7 years, new home neighborhoods start to turn over.
Americans move about every 7 years on average, so this appears to be typical market activity.
These homes are also "starter" properties, so if you relocated here 7 years ago and bought one and then

had a child
changed jobs/got a promotion
saved (a novel concept)
inherited monies to put down on a larger nicer home
had family move here from another country and run out of room (a fairly common thing in lower end SF homes in Cary/Morrisville)
decided after 7 years of living here that there might be a better location for your needs

Guess what? Time to sell.
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Old 08-14-2014, 09:49 AM
 
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Newcomers have no idea about the local market-no one is out to get you. There is plenty of demand so why not sell when the market is in this kind of uptick??
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Old 08-19-2014, 11:49 AM
 
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Thank you all for the information and enlightening me on this.
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Old 08-21-2014, 09:56 AM
 
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Who knows.

It could be coincidence, or it could be something real. One crappy neighbor annoying all the others. A low lying spot that gets soggy when it rains. There are two retention ponds and a creek right there, maybe its an accidental snake habitat.

I'd also check if there is nearby new construction happening, or maybe that neighborhood is being redistricted and the residents don't like the new assignment.

There are billions of houses just like these, I'd not risk it. And if it's just an overly-transient starter home or rental neighborhood that's not good either. (the street, obviously not all of Amberly)
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