Lakestone Village in Fuquay: why such low prices on resales (custom home, buy)

[LONGISLAND2NC]

That's certainly valid, and I agree with you to an extent, but the topic of this thread is low resale values in Lakestone. Lack of nearby shopping and restaurants options has been suggested as a reason for that.

[KC to NC]

Originally Posted by LONGISLAND2NC

That's certainly valid, and I agree with you to an extent, but the topic of this thread is low resale values in Lakestone. Lack of nearby shopping and restaurants options has been suggested as a reason for that.

I really don't think it is the lack of shops & restaurants that is affecting the prices in LV. I personally think there is plenty of wonderful shops & businesses that fit all of my families needs. I just still want a Target or a movie theatre but those are places I don't need right next to me as I don't go there every week. I love that we can walk my daughter to her dance studio next to Lakestone or to Baskin Robbins to get an ice cream on a hot day. Or even the grocery store when my car battery died when one of the little ones turned on one of our car's interior lights.The resale prices have been affected by the small custom builders pulling out for financial reasons and the developer allowing big builders to come in and produce less expensive products and sell them for less. There are only a couple of brand new custom built homes left in LV that some of the original custom builders built a couple years ago and they are foreclosing on them. Lucky for them they only have one home each in this sub to foreclose on. I feel bad for the custom builder in the South Lakes subdivision that has 8 brand new homes in foreclosure on the street Lake Artesia Lane. I'm sure it will in turn affect people who eventually resale there. I don't think there is even one resale home in the South Lakes subdivision right now to truly know the effects but that is because it is a much newer subdivision. That subdivision has a long ways to go from being built out so I would be nervous to buy there if there is a chance of having to resell in the next couple of years. Here is a link to a full list of homes that are short sales or foreclosures through Capital Bank that was sent to me. Once homes like these are gone, I think it will help people who are reselling everywhere as well.

Moderator cut: No real estate links allowed

[Nortel]

Originally Posted by LesBaer45

Oh lord no.

Look what's really missing that you can't drive 15 minutes and find it? Please this poor little town has already been destroyed by the rampant overbuilding.

You can't even drive through town, it's a mess as it is, the last thing we "need" is some big 'complex' that merely is another cookie cutter barforama of a shopping center that has the same old stores. Everything is already quadrulplicated within 15 miles anyway.

Who's got money to buy all this stuff anyway?

I wholeweartedly agree with you! It seems like the same national chain restaurants and stores are repeated every 10-15 miles throughout the Triangle. Why does Fuquay need a Target, for example, when there are ones in Garner, Cary and Apex that are all less than a twenty minute drive??? Fuquay has/had a small town feel. It would be nice to keep it that way instead of adding more fast food, chain restaurants, big box/discount stores, etc. You can drive to Cary or one of the other surrounding towns for that crap!


To keep on topic... maybe the low prices have something to do with being too close to all of the commercial business on 401? Probably not, but, who knows?

[LONGISLAND2NC]

And Garner, Cary and Apex all have better resale values than Fuquay.

401 to Garner is a 10 mile stretch of trailer parks and self storage. Gotta be the ugliest road in NC.

I like the small town feel of Fuquay also, but that doesn't mean we should get lumped with a bunch of low end restaurants while all the surrounding towns have the nice ones.

Southern Pines has a nice small town feel and even they have a Bonefish Grill.

[Ugh!!]

Originally Posted by LONGISLAND2NC

401 to Garner is a 10 mile stretch of trailer parks and self storage. Gotta be the ugliest road in NC.

In my opinion... For anyone that commutes from Fuquay to Raleigh and back... a 10 mile stretch of self storage and trailer parks is a lot better than the extra traffic associated with a bunch of big shopping centers, adding time to your commute home. Just look at Raleigh, for example.. ever drive up and down Capital Blvd during rush hour?

[ApexIntruder]

Originally Posted by Ugh!!

In my opinion... For anyone that commutes from Fuquay to Raleigh and back... a 10 mile stretch of self storage and trailer parks is a lot better than the extra traffic associated with a bunch of big shopping centers, adding time to your commute home. Just look at Raleigh, for example.. ever drive up and down Capital Blvd during rush hour?

Yes and it is a nightmare. Traffic breaks free a couple miles outside of the beltline.

[LONGISLAND2NC]

I would not be at all surprised if 401 looks a lot like Capital Blvd in a few years (not saying that's a good thing). Hopefully by that time 540 will be here to give us another escape route.

[capt chill]

Originally Posted by LONGISLAND2NC

I would not be at all surprised if 401 looks a lot like Capital Blvd in a few years (not saying that's a good thing). Hopefully by that time 540 will be here to give us another escape route.

Dreams are fun. The whole economy is dead here even in the triangle. I will bet you a whole lot of anything that 5 years from now the stretch of 401 up to Raleigh from fuquay will look about the same. maybe both the chevy dealer and the ford dealer might be gone though.

[DH8]

KC to NC,Any luck selling the house yet? I am moving to FV from Charleston, SC and am interested in your house. From what you have mentioned in your posts, it sounds very nice.

[LONGISLAND2NC]

I just drove through Lakestone tonight to take another look. Quite a bit of building activity going on. When all the empty lots are filled it's going to be really nice.