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My parents live there & they have heard that many people are, lets just say, "disenchanted" & have put their homes on the market or have already sold & moved elsewhere.
Also, I do know that the models they are building now do not come with alot of the standards that Phase 3 came with. Whether this accounts for the price reduction or not I do not know. Just an observation.
There have been numerous conversations in the retirement forum about the concept and sustainabilty of growth in the active 55 real estate market. Carolina Preserve has been mentioned in multiple discussions. One notion that might be of merit exploring is that Carolina Preserve is a long term housing project unlike many neighborhoods. We are witnessing the adaptation to current market conditions in one community that is reflecting the same changes spread over different smaller developments over multiple years. The parent company has had problems and needed to shut down development of some projects. With so many post 50 folks losing jobs and so much home equity having disapeared and investments being eaten up by current living cost............ the affordability of these projects becomes challenged. Also if you do some googling you might discover that Pulte/Del Webb is suffering from some PR problems.
When some of the larger tract builders advertise "big discounts", it could mean many things.
They could have raised the base price and therefore, the end price would be about the same as if there weren't any huge discounts.
Their sales goals for the month or for the quarter could be a lot lower than anticipated and so they are offering discounts to increase sales.
With the economy being what it is, their sales are down.
It seems like a huge discount to drop prices $40,000 to $50,000 on homes that are in the $200,000s?
Vicki
Vicki, how many neighborhoods in the Triangle have had the same thing happen. One builder was building at 260K went Belly up and liquidated remaining lots and the new builder sold houses in the same development for 210K. Different builder same neighborhood. In this case same builder as it would be harder for them to sell undeveloped lots and remain true to the concept.
In a good economy, those plus-55-ers don't have to worry about their grown children moving back with them. (I'm glad I don't have to worry about that.)
But now -- I would guess that at least some people might not want to move into a house in which they could never invite their children to move back in with them, if even for just a little while to help out the children. Or invite their children in to help them (the parents) out.
I could see that as a reason why retirement communities aren't as enticing as they once were.
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