Over the past couple years, the recession has led big builders to delay in purchasing multiple parcels of land in the Raleigh area. Now that the housing market is reaching its bottom, two local Triangle home builder groups have announced plans to develop two new communities in the area, while purchasing large amounts of land at low prices. These deals prove that builders have confidence that the Triangle area still has plenty of room to grow and attract new residents.
While some of the larger local builders are in a place to buy land at rock bottom prices, other local builders are struggling to stay afloat and to sell their inventory. Many builders have been foreclosed on by their banks, which has also added to the low price of land in the Triangle area.
Lennar Corp, which is based out of Raleigh, is in the final stages of finishing up their model home in the West Lake community located in Cary, and focusing on finishing the building of homes on fifty-eight lots in the final phase of the community at The Park at West Lake. The West Lake community is already home to an aquatics center that comes complete with a competition swimming pool, water park, and playground. Lennar ranked number 11 as the largest residential builder according to the 2008 Triangle Business Journal book of lists.
Royal Oaks Builders also out of Raleigh have proven that they can continue to remain strong during the recent recession. Parker Point community located in Fuquay-Varina is set to have over 156 homes priced from the @170,000s, with their first home in this community just completed. Royal Oaks ranked number 15 as the largest residential builder in 2008 in the Triangle Business Journal book of lists.
If you want a new home,now is the time to jump. Builders are taking advantage of lower land prices, and passing the savings on to the buyers. Let Marti Hampton and Team Marti here are RE/MAX One Realty make your dream home become a reality.
P.S. For the next few days, the Home Buyer’s Tax Credit is still in effect through April 30, so both first time buyers and longtime homeowners can receive federal dollars to buy your affordable home. Take advantage of rarely seen low interest rates and buy a home with me Marti Hampton and Team Marti here at RE/MAX One Realty. ACT NOW!