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Old 03-20-2009, 08:07 AM
 
96 posts, read 266,071 times
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Brier Creek Country Club: Worth the price or Overpriced? What do you think? How far below (%) should they be priced to be considered reasonable?

Any insights would be appreciated.
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Old 03-20-2009, 08:16 AM
 
Location: Durham, NC
2,540 posts, read 8,208,342 times
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Way overpriced. Sure it's a convenient location for commutes to RDU, RTP, Durham or Raleigh, but homes in Brier Creek seem to carry a hefty premium compared to similar homes in other western Wake neighborhoods. I can honestly say that you couldn't price a house low enough for me to buy in Brier Creek though. That development is, IMO, a prime example of planning gone awry. The traffic congestion around there is horrendous and despite the many shops & restaurants, it was not set up for residents to walk to any of them.
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Old 03-20-2009, 09:12 AM
 
Location: Wake Forest
2,834 posts, read 6,651,344 times
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If I'm not mistaken, Toll Brothers is the builder. Toll Brothers... that being stated should be a signal on the price range of their homes. They are a high end builder.

I think they are advertising the homes as "Luxury Ranches". IMHO those two words go together as well as "sophisticated red necks".

But price is always in the eyes of the payers. Some people enjoy paying $2+ for the same things that sells for $1. See your local $1 store for immediate examples.
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Old 03-20-2009, 09:31 AM
 
Location: Raleigh, NC
12,093 posts, read 28,694,028 times
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Toll Brothers homes are always "overpriced" TO ME!

However, I still have buyers that buy them. Just because WE think they are overpriced doesn't mean that Toll Brothers is going to reduce the prices. As long as other buyers will buy them, the neighborhood keeps selling and the market ALWAYS determine the true market value.

Vicki
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Old 03-20-2009, 10:10 AM
 
2,993 posts, read 5,142,545 times
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I have friends who lived there until they got divorced. Waaaaay overpriced.
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Old 03-20-2009, 10:44 AM
 
24 posts, read 54,473 times
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My family and I moved here and June and we live in an apartment across from the Brier Creek CC. We've been looking to buy a house after our lease is up so we've been looking around a good bit. I tend to agree with everyone else that has posted so far, the houses are ridiculously overpriced. You can get much better square footage for your money else where. Not to mention, we have been generally unhappy with the Brier Creek area since we have moved here. It is very congested and I feel there is no sense of community or nieghborhood, everyone just tends to do there own thing. But that's just my opinion.
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Old 03-20-2009, 11:04 AM
 
137 posts, read 509,625 times
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I spent a lot of time looking at Briar Creek. The single builder concept is always worrisome. Some people love the location. The homes seem pretty overpriced considering the economy and housing market. Many of the Sellers bought in 2003 and later and still have hopes that they have doubled their money! The problem I had, was that although Toll Brothers is a "high end" builder, the housing stock is not very good. The townhouses and the homes just were not built very well. the layouts of many of the homes was ridiculous. I saw a lot of homes where the family room and the living room were seperated by a fireplace. both rooms were then TINY! Barely room for a couch and a TV in the family room (I could not figure that one out!) The other problem for me was not very many trees in the yards. So, you ahve nieghbors putting swimming pools on tiny lots and no buffer whatsoever.

I did notice that many of the homes that did not sell last year, have been relisted at higher prices this year. I do not get that! Inventory seems very very very high righ now.

PS I bought in Chapel Hill and think it works better for me.
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Old 03-20-2009, 11:05 AM
 
Location: Raleigh, North Carolina
306 posts, read 1,034,546 times
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Waaaay overpriced. Plus, look how many resales have been sitting in this neighborhood for months, some even years. Sporting Club Drive and Palm Bay circle have a lot of resales. Though you can probably do a great deal on them, I looked at a couple and the fixtures and fittings looked really old fashioned to me and of pretty shoddy quality.

M
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Old 03-20-2009, 11:20 AM
 
Location: Cary
387 posts, read 922,723 times
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Here is a chart of 102 sales of single family homes in Brier Creek from March 2006 to February 2009 from Wake County real estate records.
brier creek SFH.pdf

It is difficult to draw any conclusions from this chart because there is a fair amount of product variation among single family houses in Brier Creek.
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Old 03-20-2009, 12:16 PM
 
5,460 posts, read 6,017,773 times
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Quote:
Originally Posted by Nelson919 View Post
Here is a chart of 102 sales of single family homes in Brier Creek from March 2006 to February 2009 from Wake County real estate records.
Attachment 38289

It is difficult to draw any conclusions from this chart because there is a fair amount of product variation among single family houses in Brier Creek.
The biggest thing that hit me is how sparse the dots get as you move closer to the present. That in itself should be telling - lower demand is probably going to have an effect on prices.
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