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Old 01-27-2010, 07:02 PM
 
Location: Raleigh, NC
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I heard, today, that Toll Brothers has purchased Hasentree. I would like to know if anyone else has heard this or if anyone has any thoughts on this.

Vicki
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Old 01-27-2010, 07:15 PM
 
Location: Holly Springs
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If so, and I lived there, I would not be happy about that at all lol. We inspected a house there today actually. It was reduced over 300k!
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Old 01-27-2010, 08:02 PM
 
Location: Raleigh
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Quote:
Originally Posted by sacredgrooves View Post
If so, and I lived there, I would not be happy about that at all lol. We inspected a house there today actually. It was reduced over 300k!
I disagree. If someone comes in and is successful, it beats the heck out of a neighborhood that turns into a wasteland. It may not be real pretty for a while, but in the long run, those who have invested in the neighborhood will be better off than having a neighborhood that languishes.
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Old 01-27-2010, 08:42 PM
 
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Not true at all if you paid 2 million for a home with 80% financing and now find yourself living in the typical 400k tract housing suburban hood. It would then be time to walk away from your home. You will always be underwater.
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Old 01-27-2010, 08:52 PM
 
Location: Cary, NC
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Originally Posted by 27608 View Post
Not true at all if you paid 2 million for a home with 80% financing and now find yourself living in the typical 400k tract housing suburban hood. It would then be time to walk away from your home. You will always be underwater.
FWIW, Toll Brothers can run the price up to much higher than $400,000 without too much trouble.

Yes, they would still be underwater. But Toll can push $1,000,000 too.
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Old 01-27-2010, 09:33 PM
 
Location: Raleigh, North Carolina
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Wow, thats crazy. Even if Toll did decide to build their high end stuff at Hasentree, I doubt they'd sell much of it as there's so much surplus of expensive inventory around there and adjacent zip codes thats been sitting around for years.

Do I buy local custom builder or do I buy Toll?

M
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Old 01-27-2010, 09:39 PM
 
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Quote:
Originally Posted by MikeJaquish View Post
FWIW, Toll Brothers can run the price up to much higher than $400,000 without too much trouble.

Yes, they would still be underwater. But Toll can push $1,000,000 too.
You are correct. I missed that one. But realistically, what will the average price be? Most tract builders seem to be heading towards the $250 price range. Lennar's average closing is now around 255k. A development like Hasentree has ZERO chance of being what was hoped by it's developers. Lending controls the housing market and lending has gone back to the basics. Thank God that we have a 4.6 30 year fixed while owing only less than half of our home's 700k value. We are lucky. We bought in 1998 and resisted the strong temptation to upgrade to a larger home. I feel sorry for the folks that bought in 2005 -2007. They are in a bad place.
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Old 01-28-2010, 05:55 AM
 
Location: Cary, NC
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It's all moot unless we can confirm that Toll bought Hasentree.
I can't find anything on it.
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Old 01-28-2010, 07:16 AM
 
1,841 posts, read 4,093,076 times
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Originally Posted by MikeJaquish View Post
FWIW, Toll Brothers can run the price up to much higher than $400,000 without too much trouble.

Yes, they would still be underwater. But Toll can push $1,000,000 too.
Mike,
While Toll may be able to broach the $1,000,000 mark in some locations, I think it would be very difficult to do it here in the Triangle.

The small number of buyers in that range will pay for a better built home and give up square footage to do it, or they will buy ITB.
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Old 01-28-2010, 07:37 AM
 
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Originally Posted by MikeJaquish View Post
It's all moot unless we can confirm that Toll bought Hasentree.
I can't find anything on it.
I can't find anything either, and I've searched hard.
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