I thought I'd put this in a new post since the Bits Bucket has a discussion started today.
This is the first upward builder price adjustment I've seen in Fauquier County since about 2005. I receive these alerts in my e-mail. It's a very modest uptick, but it was so unusual I thought I'd post it.
Ryan Homes (part of NVR) is the only large builder still actively building in Fauquier County. Toll Brothers had a big development (Warrenton Chase) in the works but it's been stalled for a few years, and Centex bailed out of a large retirement community they were planning (retirement homes were going to start in the $800's, which was jaw-dropping).
Listing: FQ7002808 for $319,990 Update Type:Price
3 Bedrms 2 Full Baths 1 Half Bath Prior Price: $314,990 0 LAKE WILLOW CT WARRENTON, FAUQUIER, VA
Listing: FQ7002751 for $369,990 Update Type:Price
4 Bedrms 2 Full Baths 1 Half Bath Prior Price:$364,990 0 LAKE WILLOW CT WARRENTON, FAUQUIER, VA
Listing: FQ7002759 for $359,990 Update Type:Price
4 Bedrms 2 Full Baths 1 Half Bath Prior Price: $354,990 0 LAKE WILLOW CT WARRENTON, FAUQUIER, VA
Listing: FQ7002774 for $344,990 Update Type:Price
3 Bedrms 2 Full Baths 1 Half Bath Prior Price: $339,990 0 LAKE WILLOW CT WARRENTON, FAUQUIER, VA
Listing: FQ7002806 for $329,990 Update Type:Price
4 Bedrms 2 Full Baths 1 Half Bath Prior Price: $324,990 0 LAKE WILLOW CT WARRENTON, FAUQUIER, VA
Monday, April 27, 2009
Builder Uptick
Posted by Harriet at 7:21 AM
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4 comments:
hmm. These are all pretty small. In fact under the $8k buyer bribe. So NVR is asking buyer's to split that $8k with them directly, huh?
(just my take on it)
800K is a LOT of money for a retirement home, and a lot of retirees willing to spend that kind of $ would prefer to live closer to the city. No wonder the builder stopped that development.
I agree with cara, a 5K price increase may be no more then an attempt to feel if the price has hit bottom.
Frankly, with the second big turd of Option-Arms and IO's still coming out of the system, this is just the builder seeing if they can get a shot at pricing increases.
With about 90% of the foreclosed properties still sitting unsold, I'd have a lot of worries about looking at anything in the Exurbs.
The homes are VERY small considering several in Brookside are going to be re-listed in the $400's and have over 3500sq ft on some half an acre or more. They even have a Victoria model on 1/2acre they(RYAN?NVR) are trying to unload for $400k!
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