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Toured copperleaf last week and the homes are GORGEOUS. The lowest price home available now (on site 137) is $739K for 4460 sf. The interior of that home is fantastic- the layout and the amenities and details. Just cannot afford it. When I asked their staff what other neighborhoods they would consider if they could not afford Copperleaf- they suggested Weycroft and then perhaps Horton's Creek. I asked why she didn't mention Weiland's Southbridge (directly across the street!) and she said that a track home cannot compare to a custom built home and she wouldn't look at that vs the others (!).
So...I went to see Weycroft today, toured the model home. I know this forum has a lot of weycroft lovers out there...
They have 119 lots and have sold about 53 so far. They sold 21 of these in year 1, 20 in year 2, 13 last year, and hope to do anywhere from 13-20 this year. They said that despite being low last year (13 sales)- they are still the #1 selling neighborhood in triangle in the 550-750K price range.
I was most impressed wiht the details of the model home and the salesman said that the homes come pretty much "loaded." and can be had for high 600's with all the options and over 4000 sf.
So far have also toured Preston (too old and many homes look very 1980), Southbridge in Cary Park (nice homes but poor lots and a bit pricey), Carpenter Village (GREAT location but not many homes over 3500 sf), Glenkirk (another Weiland sub... GREAT location...but lots are small and not very usable and the interior of the 2 we saw were B/B+ but didn't "wow" us like custom builder homes), and Copperleaf...
We want a family neighborhood (we have two kids under 2 years old) and it seemed that every other home in Weycroft had swing sets in backyard...good sign...I got out of my car and asked a Weycroft mom and dad about the neiughborhood and the kids and they mentioned tons of families with kids "90% families...most young"
If it had a pool it would be perfect...yes, I know you can use Cameron Pond 1.4 miles away but not exactky same as in neighborhood. They explained HOA would go from $44/mo to $150/mo with pool and they have NO PLANS to get one.
Did not know there is plan to develop 2,000,000 sf of beautiful North Hills/Brier Creek type retail up the street at intersection of 540/55. This will increase investment value tons...
We plan to meet with the builders to get ideas on prices based on what we want...will see if this is an option for us.
Has anyone heard good or bad about any of the builders?
Thanks for feedback and hope this was helpful to others considering...happy MLK weekend!
Did not know there is plan to develop 2,000,000 sf of beautiful North Hills/Brier Creek type retail up the street at intersection of 540/55. This will increase investment value tons...
Sounds like Weycroft is a great fit for you. I personally wouldn't be buying a $600k home in Cary and thinking that new retail will increase its "investment value tons", at least not any time soon. Just my $0.02.
I bet the value of the home you will buy will never increase in value. Seriously, the day you move in will be the day it loses 10% of its value never to regain it. If you need to sell in the first 5 years you will lose money. High end is a big ? here in the triangle. Especially resales. remember they can buy a new one!!
I would take into account the fact that the next 4 spec homes in Weycroft will be priced under $500,000. It appears that in order to build out Weycroft the price points will need to drop. It's easy for the onsite agent to tell you that you can build 4000 SF fully loaded in the high 600s but if the only spec homes a builder is willing to risk building right now are 3000 SF with bonus rooms left unfinished at the sub-500K list price it is clear that the paradigm shift is underway. The developer will not accept having to wait another 5-6 years to build out so they will take what they can get even if it lowers the median home price in Weycroft. The ONLY neighborhood where this trend is not taking place in West Cary is Copperleaf. Hortons Creek has a $436K spec home, Southbridge is down to white elephants at $539K and resales are tanking in there, Cameron Pond might as well be defunct, and Highcroft village is building sub-400K ranch plans.
I'll also point out that the lots that are sitting undeveloped in Weycroft are not the most desirable lots on the site plan.
That doesn't make it a horrible choice but if the remaining 50% of the lots in Weycroft end up being homes at $500K and less I wouldn't want to be at the high end of that neighborhood's pricing. There is a big chasm betweens the Haves (Copperleaf) and the not-quite-haves (everywhere else in West Cary). I'd rather steal a resale in Cary Park in the mid 500s than build for $650K in Weycroft right now.
Last edited by Funky Chicken; 01-17-2010 at 09:32 AM..
Reason: added content
I would take into account the fact that the next 4 spec homes in Weycroft will be priced under $500,000. It appears that in order to build out Weycroft the price points will need to drop.
That doesn't make it a horrible choice but if the remaining 50% of the lots in Weycroft end up being homes at $500K and less I wouldn't want to be at the high end of that neighborhood's pricing.
Good point. I believe the sizes will drop to make room for the lower price point but maintain the $/sf.
Impact is doing the same thing in Highcroft Village. He has one going up for $320kish but only 2100sf.
Just another reason why we are so happy not have built a $650+ home in Weycroft...Impact "promised" that they would never sell out the community (like Hilliard Forest), they would never allow builders to go below $550k for any of their sites...looks like you could easily get in for 450k now, and that's with Impact! Major bummer for those who are already there....perhaps Cameron Pond hasn't been the only community majorly mislead...
Quote:
Originally Posted by Funky Chicken
I would take into account the fact that the next 4 spec homes in Weycroft will be priced under $500,000. It appears that in order to build out Weycroft the price points will need to drop. It's easy for the onsite agent to tell you that you can build 4000 SF fully loaded in the high 600s but if the only spec homes a builder is willing to risk building right now are 3000 SF with bonus rooms left unfinished at the sub-500K list price it is clear that the paradigm shift is underway. The developer will not accept having to wait another 5-6 years to build out so they will take what they can get even if it lowers the median home price in Weycroft. The ONLY neighborhood where this trend is not taking place in West Cary is Copperleaf. Hortons Creek has a $436K spec home, Southbridge is down to white elephants at $539K and resales are tanking in there, Cameron Pond might as well be defunct, and Highcroft village is building sub-400K ranch plans.
I'll also point out that the lots that are sitting undeveloped in Weycroft are not the most desirable lots on the site plan.
That doesn't make it a horrible choice but if the remaining 50% of the lots in Weycroft end up being homes at $500K and less I wouldn't want to be at the high end of that neighborhood's pricing. There is a big chasm betweens the Haves (Copperleaf) and the not-quite-haves (everywhere else in West Cary). I'd rather steal a resale in Cary Park in the mid 500s than build for $650K in Weycroft right now.
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