Sales Office Closed Down at the Parks, What's Going On???

[randy]

I was driving through the parks and noticed the sales office is being taken down.  Maybe someone over built for this area.  I heard the standard minimal cost of a home has been lowered in Chapel Ridge..  I know some folks that actually bought 2 lots in Chapel Ridge awhile back to sit on them in hopes of resale $$$.  OUCH, that must hurt. 
What's going to happen to those already living in the Parks and Chapel Ridge of guaranteed upscale homes in there community, OUCH, that might hurt to.
If I could afford a minimal home being built of $600,000 not even counting the cost of the lot, I'd rather buy 10 acres of land and build a $300,000 home, but that's just me.

[natvrabit]

Ever heard of the old adage of your eyes being bigger than your stomach? Same principle or is it principal..oh heck same theory, philosophy...wisdom...if it sounds too good to be true, then it probably isn't.

[ncbeachbumb]

Like the Stock Market, historically real-estate is a good investment in the long run.  But if you try to play both markets in the short term you may find the downside as well.  The same can be said for untested ventures and non-blue chip stocks.  But I doubt anyone who owns a land or house in that area will be suffering in the long run.  They should do very well.

[randy]

Like the Stock Market, historically real-estate is a good investment in the long run.  But if you try to play both markets in the short term you may find the downside as well.  The same can be said for untested ventures and non-blue chip stocks.  But I doubt anyone who owns a land or house in that area will be suffering in the long run.  They should do very well.

You may be right in the long term, but I think were talking years here.  I've just heard from the locals that there is some unrest going on with the money holders and development at these sites.  But I'm sure the fiancees of these communities have a plan B for a worst case scenario.  Sell out and run.
But the golf course is doing well and has a good reputation for being a challenging field throughout the triangle of golfers.  Heard nothing but good things about the course.

[ncbeachbumb]

Why someone would put that many developments and lots in that area, much less that many together was not very smart in my opinion.  Too far out in the middle of nowhere on two lane roads.  Mr. Swain and Mr. Morrisey almost made out like bandits, unloading the bulk to Bluegreen and Cresent.  But they still were stuck with quite a few lots to sell themselves.

In the short term, there's going to be an over-supply of lots.  Most of the early lot buyers by Bluegreen are speculators.  So expect to see the bulk of those lots come back on the market as well.  In 5 or 10 years, they should all do well, but in the short term, they'll loose their shirts.

[natvrabit]

From what I know of Mr. M. he is basically a bandit. Neither here nor there in my world other than the blight these people create. I hope to be LONG gone from here when it looks like Raleighwood. I digress to anyone got the ferry schedule to escape it?

[randy]

From what I know of Mr. M. he is basically a bandit. Neither here nor there in my world other than the blight these people create. I hope to be LONG gone from here when it looks like Raleighwood. I digress to anyone got the ferry schedule to escape it?

But where else do you go to escape it?  Land is just to valuable anymore, but I'm glad the county set aside farmland areas

[Tags:]

Jump to: Please select a destination: ----------------------------- Chatham County Online ----------------------------- => Chatham County Online => Chatham County Schools => Chatham County Food & Drink => Chatham County Music & Arts => Chatham Community Calendar => Free Classifieds & Help Wanted Ads => Noah's Ark - All Creatures Great & Small. => Neighbor to Neighbor => Gardening and Agriculture => Chatham County Real Estate => North Carolina => This, That and Everything Else