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I asked a question about Harrington Pointe community on Leesville road in Raleigh, and got some good responses, but just heard it on the rumour mill today that Centex may have dropped the price of their homes their because they weren't selling? I find it really hard to believe, but just wanted to know if anyone had heard the same? I don't think it could be possible due to location etc...
And if anyone has anything to add about Harrington Pointe neighbourhood, please do. We are really thinking about buying here (cottage collection) and there are only 8 homesites left, so we want to decide soon!
Thanks in advance!
Well, I'm no realtor nor expert in this area, however... when I visited this neighborhood, I knew it was in the flight path. BUT, its another thing to actually see the planes flying directly overhead. Needless to say, that neighborhood quickly came off our list.
The houses seemed nice, I've heard good things about Centex.
General question, the homes were in the mid-300's and up, but I noticed some townhouses in the upper $200's and $300's. Is there a market for townhouses in the $300k range? Seems there are many other options that would be more competitive (maybe I'm just used to seeing $100k- $200k townhouses).
I don't know about Centex dropping the prices on Harrington Pointe. I noticed there are about 15 of them "pending" so we won't know what they sold for until they are closed.
It does look like they had 4 that recently closed that they gave off between $5,000 and $10,000. Could have been inventory homes that were just setting.
Even with the planes in that area being somewhat low...prices keep going up. Thats due to the proximaty to the airport, proximaty to RTP and the schools in that area. Thats one of the best areas of North Raleigh to be in, for those and other reasons.
A few years ago, townhouses were harder to sell. Now, it seems that alot of people want the convenience of not doing yard work. I've seen townhouses up in the $400s. Different buyers that are in different phases of life want different things.
Ok...notice that I'm now 5 ft. 2 inches tall. Its the soapbox. Moesgirl...I'm telling ya...I don't care who your buyer's agent is...but please take one out to any new neighborhood that you go to. Not only will she know the current incentives but she'll be able to pull up the comps and guide you to getting a fair price. Plus...if any problems arise, you want someone who knows this business. Ok...back to 5 feet tall!
I heard that all of the new development in the Leesville road area have been redistricted out of Leesville schools (Martha Stewart commun., Harrington Pointe, etc) Any truth to that rumor and could that be affecting the selling price?
It wouldn't surprise me if none of those communities go to Leesville Road Schools, as thats ALOT of new people and Leesville Road is already full.
I doubt that will affect prices, though, since thats still prime property in North Raleigh.
What might affect the prices is so many new homes at once. There isn't alot of land in that area and most of the neighborhoods going up are smaller and starting in the $600s and $700s so the Martha Stewart neighborhood, Wynbrook, starting in the $430s may flourish.
you can wave at the pilots in the airplanes as they come into land over that location. The noise makes it undesirable. I can see how they would need to creae price incntives to move those homes. It is so load. We go to St. Francis of Assisi Church that is next door and the planes are a disturbance.
If you buy in an area under the flight path, then you need to make sure you are OK with the noise. Neighborhoods in that area (Harrington Grove, Dominion Park, etc.) all get very low fly-overs. If you are outside and the planes are flying overhead at that time, then it can be loud enough to stop conversations. From what I see, homes in the area sell very well, so there are plenty of people who are fine with it.
There are pluses, though. As said, it is very convenient to RTP, there are some wonderful family neighborhoods in the area, and there are good schools (assuming you are in the Leesville district; don't know which school they would bus the students to, otherwise).
And, no, I don't live there, but I do have friends that I visit who do. For me, the noise is a little too much - I would prefer to move east a little bit (say nearer to Creedmoor) and avoid that. But, homes near Creedmoor tend to be more expensive (lots of $1+ million neighborhoods being built in that area).
Well, If you look at the big story in NC, things aren't super-rosy. Sales statewide are slightly down. Sales of existing homes are down especially. There is a LOT of supply, mainly in the form off postage-stamp homes and Mcmansions. 300k for Raleigh is high and somewhat reliant on a steady influx of out of staters who reaped huge profits from their homes in new England, CA, etc etc. Now that their markets are starting to slip, the supply of people who can afford those 300k cookie-cutter houses will start to dry up.
Foreclosure rates for NC places it at the no. 21 spot nationally, so more or less in the middle. Not that great really.
My assessment is that the upper market is very vulnerable. Anything over say 200k will be more likely to lose value than those priced below that. Then again, I have no crystal ball. The national housing picture is getting worse by the day. NC isn't insulated from some of this fallout even if it is cheaper.
A lot of the big National builders are dropping prices to make up for sales not happening in other markets. I would say if you are looking at buying a completed home from on of the big publicly traded builders, offer very low and see what happens. It really doesn't have a lot to do with this area or specific numbers. It has to do with their stocks.
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Harrington Pointe
