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Old 11-12-2015, 10:46 AM
 
3 posts, read 3,086 times
Reputation: 10

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Hello,

I would like some insight on this new community going up in Cary. My husband and I love West Cary (27518) and would prefer to buy new (limited within our budget 350k max). The location is exactly what we are looking for, I wish they had a community pool, but I think I could live without it.

Any insight regarding the builder, area, schools, traffic, anything at all would be great!


Lily Orchard - New Homes in Cary, NC
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Old 11-12-2015, 10:53 AM
 
1,852 posts, read 4,110,712 times
Reputation: 2809
That community is not in West Cary (27519).
It is in Southeast Cary (27518). The closest intersection of two major roads to that neighborhood would be Kildaire Farm and Ten-Ten Roads. It is over a mile EAST of the intersection of US1 and Ten-Ten.
That doesn't make it bad, but it is not a West Cary location. That is also why the pricepoint is where it is.
Hovnanian is a middling tract builder. Quality on a par with Pulte/Centex/maybe Lennar.
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Old 11-12-2015, 11:18 AM
 
Location: Apex NC, the Peak of Good Loving.
1,462 posts, read 1,660,922 times
Reputation: 2184
Quote:
Originally Posted by Amineh View Post
Any insight regarding the builder, area, schools, traffic, anything at all would be great!
A recent Wall Street Journal article tells of a coming financial squeeze which threatens the survival of the company. A bankrupt builder may be unable to honor home warranty obligations.

Quote:
“The threat of bankruptcy is increasing for Hovnanian, given its threadbare liquidity versus severe cash consumption and significant debt maturities in coming months,” said Vicki Bryan, a senior analyst with bond-research firm Gimme Credit LLC. “And we doubt it can borrow or land-bank its way to solvency.”
Read more at ...
Debt Load Hinders Recovery at Hovnanian - WSJ

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