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Did anyone else notice that they dropped their prices 40K????? We were the fourth ones to go under contract in the whole section, and we now have a whopping 3K in equity. Awesome.
Did anyone else notice that they dropped their prices 40K????? We were the fourth ones to go under contract in the whole section, and we now have a whopping 3K in equity. Awesome.
KB did the same thing. However, they truly did not drop the price $40k, they just took out some standard options to lower the cost of the house. On the KB side the homes that they lowered the prices on come with no standard options, everything is an upgrade. Therefore, those homes are pretty bare bones, and come resale time, people are not going to want to buy a used home with no options, they are going to buy a home they don't have to put a lot of $ or effort into.
Did anyone else notice that they dropped their prices 40K????? We were the fourth ones to go under contract in the whole section, and we now have a whopping 3K in equity. Awesome.
You never lost 40k in equity. You overpaid in the first place.
really amploud? Considering I was the fourth one (like I said in the op)in the neighborhood, I certainly did not overpay. I feel bad for the people who paid over 70K more than I did a year later. They are actually losing money. At least I should make something.
I'm in kb in berewick and right after I purchased (almost 2 years ago) the base price of my model dropped almost 20k. It had since dropped all the way to 37k below what i paid but fortunately it has rebounded to be only 28k below. It really stinks... sure they took out some standard features but price per sq ft is price per sq ft.
Now I have a foreclosure right near me that is listed for 80k below what the original owner paid. Tough times for new construction...
i have to totally agreee with amploud. i know someone who bought a certain model with shea in berewick 6 months ago. they paid almost 385,000. down the road in huntington forest, the same model from the same builder (shea) was for sale in the form of a 2 year old home. exactly the same elevation, hardwoods, backsplash, granite, brick front, etc. etc........$280,000, and that was only the asking price, so i imagine an offer of $260,000 could have probably gotten the house.
granted berewick has great ammenities, manor house, pools, parks, but i cant see paying those prices when you can have the same house 2 miles away fromthe same builder for $75-100k less.
When we bought our model in Berewick, we paid 211K base. That same model in Huntington Forest was 260K, base. Berewick is a lot nicer than Huntington Forest in ways other than just the amenities. Look closely at the neighborhoods while you drive through them and you can clearly see that. When the new school is built, will Huntington Forest go there too? I am not sure about the new boundaries. That can also have a lot to do with price.
Purchasing a new home is a "Long Term" investment! Folks need to get out of this day trader mentality thinking they should start making money as soon as they move in. There is stil no guarantee on any investment. Its not the builders fault the market went in the crapper. They are selling the house at what the market will dictate. I will tell you this, if Charlotte government does not get a grip on the crime around here, the word is going to get out and people will stop coming! That will make many happy, but it will make our homes worth spit!!
Purchasing a new home is a "Long Term" investment! Folks need to get out of this day trader mentality thinking they should start making money as soon as they move in. There is stil no guarantee on any investment. Its not the builders fault the market went in the crapper. They are selling the house at what the market will dictate. I will tell you this, if Charlotte government does not get a grip on the crime around here, the word is going to get out and people will stop coming! That will make many happy, but it will make our homes worth spit!!
I agree with most of that, but I also don't think folks should get stuck in negative equity type scenarios because builders decide to drastically cut prices. I've come to learn the hard way that is a bigger issue with new construction.
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We were the fourth ones to go under contract in the whole section, and we now have a whopping 3K in equity. Awesome.
