CaryRealEstate.com | Cary NC | Local Specialist for Cary Real Estate » new construction

Cary’s Top Selling Neighborhoods – January 2010

David Williams — Thu, 04 Feb 2010 22:24:54 +0000

The Cary Real Estate Market had almost 100 homes go under contract in January – Which neighborhoods sold the most homes?

1. Greystone: 7 Homes Under Contract in January

1. StoneWater: 7 Homes Under Contract in January

3. Harmony: 5 Homes Under Contract in January

What do these neighborhoods have in common? All in West Cary – Priced between $200,000 and $600,000 – All New Construction! That’s right 18 of the 19 home sales in these 3 neighborhoods were new construction! So while the number of homes being built and sold are down from 2006 record numbers, new construction is still alive in Cary North Carolina! Almost 1 out of every 2 homes that went under contract in January was New Construction!!!

More About the 3 Neighborhoods:

Greystone is built by M/I Homes. Price Range: 300k – 500k. Average Price: 360k.

Search Greystone Homes For Sale

StoneWater is built by Lennar. Price Range: 200k – 450k. Average Price: 315k

Search Stonewater Homes For Sale

Harmony is built by Pulte. Price Range: 300k-550k. Average Price 375k

Search Harmony Homes For Sale

Click here to view the embedded video.

Builder Deposit vs Earnest Money – What’s the Difference to Home Buyer?

David Williams — Wed, 06 Jan 2010 02:51:53 +0000

Ask Cary Real Estate: What’s the difference between a Builders Deposit and Earnest Money? How do they effect the Home Buyer? Cary home buyers offer earnest money on a re-sale home and a builders deposit on most new construction. Here’s a quick overview of the similarities and differences between a builders deposit and earnest money.

Builder Deposit Defined: Money paid upfront at time of contract directly from prosepctive buyer to the builder. Builder deposits into business operating account. Builder credits buyer the amount of the deposit at closing.

Why?: Builder is building a home specifically for one buyer – making changes, ‘customizing’ the home based on that buyers wishes – the builder wants a level of protection should the buyer not actually purchase the home – to avoid being left with a home that might not appeal to the average buyer.

- Usually Non-Refundable if the buyer walks from the contract - the offer to purchase should specifiy

- How much? sometimes calculated as 5%-10% of the base price of home – sometimes 50% of any ‘add-ons’ buyer chooses.

The amount of builder deposit and how it’s calculated varies with different builders and different stages of construction when the buyer purchases. It’s a negotiable amount but that doesn’t mean both parties can come to terms.

Earnest Money Defined: Money paid upfront by buyer at time of contract. Money is payable to a trust account – most commonly the listing real estate firm or a local real estate attorney’s trust account. Money is credited to buyer at time of closing. If property doesn’t close earnest money may or may not be returned to buyer – depending on circumstances.

Why? It’s a show of good faith from buyer and financially invests them in the purchase – the money can be at risk if buyer does not close.

If Disputed – Can’t be released by trust agent unless both parties agree who is entitled or by court order.

Earnest Money Amount: Cary home buyers usually pay 1% of the purchase price but this is negotiable.

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

Cary’s Copperleaf Community New Homes Sales for 2009

David Williams — Tue, 29 Dec 2009 05:31:33 +0000

Copperleaf in Cary – 17 New Home Sales in 2009 – Cary’s Top Selling Luxury New Home Community

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com