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We've had as many as 11 homes on the market in our small (<50 homes) northern Durham neighborhood, including a handful of builder inventory, during the past 6 months or so. We're now down to two resales and one inventory home active, with an inventory home pending close of contract. We have had a few pre-sale custom builds completed in the past year, and it looks like two more lots are about to be cleared for builder spec homes. The price points in this neighborhood are $370-$550k...however the more recent sales have been at a considerable discount versus 12-18 months ago.
I have been following the same house in Wake Forest for over a year now. It is absolutely gorgeous and was listed at 499K when I first found it. It is now on its third realtor and is down to 449K and still not moving. When it gets to 400K, I am buying it!
Does it seem likely that the $8000 credit will be extended into next year? I hope so, and while they're at it, they could relax the rules a little. It seems that in many cases, if you can afford the house then you don't qualify for the credit!
I have been following the same house in Wake Forest for over a year now. It is absolutely gorgeous and was listed at 499K when I first found it. It is now on its third realtor and is down to 449K and still not moving. When it gets to 400K, I am buying it!
Does it seem likely that the $8000 credit will be extended into next year? I hope so, and while they're at it, they could relax the rules a little. It seems that in many cases, if you can afford the house then you don't qualify for the credit!
Why don't you just make an offer and see what happens? I've never understood the waiting till it gets reduced tactic, I mean what if someone else makes an offer and gets it for that much or less?
Which community up here in North Dur? I am interested...
Quote:
Originally Posted by mdp_az
We've had as many as 11 homes on the market in our small (<50 homes) northern Durham neighborhood, including a handful of builder inventory, during the past 6 months or so. We're now down to two resales and one inventory home active, with an inventory home pending close of contract. We have had a few pre-sale custom builds completed in the past year, and it looks like two more lots are about to be cleared for builder spec homes. The price points in this neighborhood are $370-$550k...however the more recent sales have been at a considerable discount versus 12-18 months ago.
Why don't you just make an offer and see what happens? I've never understood the waiting till it gets reduced tactic, I mean what if someone else makes an offer and gets it for that much or less?
It is very tempting to do just that, believe me. But we are going to do the prudent thing and rent for a year first. It does seem that prices are coming down in the 400K-500K range - do the realtors concur? Worst case scenario, I don't see prices going up over the next 12 months (interest rates on the other hand...)
Homes in our neighborhood in Cary aren't selling all that well. There are quite a few that have been on the market for a looooong time. They're in the $350-$450K range.
Homes in our neighborhood in Cary aren't selling all that well. There are quite a few that have been on the market for a looooong time. They're in the $350-$450K range.
Same in my Chapel Hill neighborhood, in the $600K - $750K range. Not moving at all.
There are several 4 bedrooms in my Morrisville Parkway/Waltons Creek road neighborhood for around $215k to $219k. I'm really surprised they aren't selling.
Which community up here in North Dur? I am interested...
River's Edge
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