Home Buying in Cary>Question Details

Sunita Gogate, Home Buyer in Raleigh, NC

How are Standard Pacific whats the Laurel Park community in Cary like they don't seem to have sold many homes?

Asked by Sunita Gogate, Raleigh, NC Mon Nov 24, 2008

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Has anyone been by there lately? Things have really picked up, and there's lots of construction going on. The agent told me they sold 8 homes this year alone, and there's only 22 left. They only have one finished home available now, and it's the big one at the top of the cul-de-sac. Pretty nice, with a lot of upgrades, but about 30K out of my range too. They had another smaller home available for 269K, but we missed it because our offer was too low. We thought they might come down a little more and we missed it!
We checked out that Centex neighborhood, Town Hall Commons, but all the planes and trains were too much, not to mention Airport Blvd. will run right through the neighborhood one day. Now, Centex is owned by Pulte, nuff said.
0 votes Thank Flag Link Fri Mar 26, 2010
Blue,

17 homes have closed in Laurel Park so far this year.
http://services.wakegov.com/realestate/ImpSales.asp?id=03605…

Homes sit on the market for 5 months when the listing is posted to the MLS even before work begins on the home. That lets time accumulate to a higher number than typical resale homes.

There are currently three Laurel Park homes on the MLS.
http://www.mikejaquish.idxco.com/idx/4328/results.php?stp=ad…

Standard Pacific has some very nice incentives currently available to buyers.
Web Reference: http://www.MikeJaquish.com
0 votes Thank Flag Link Mon Dec 14, 2009
What is the status of this Laurel Park now? I saw 2 homes that are on market for the last 5 months while there are plenty of lots empty right now.

The only thing that I don't like about them is that there lot sizes are too small. Anyone as more guidance on this project. I am considering Laurel Park vs. Centex and Town Halls Manor and find it diffuclt to come up with which one is better.
0 votes Thank Flag Link Mon Dec 14, 2009
I've sold new construction homes in 3 other Standard Pacific neighborhoods this year in the Triangle area , including Seagrove Farms in Apex , which is right around the corner from Laurel Park, Brightleaf in Durham, and in Brier Creek in January of 2009.

The cash infusion that Standard Pacific received in Q32008 really helped sustain the company and help them grow in a down economy. I also sold a custom home in the Villages of Apex and they offered my clients no incentives. National builders that are more stable are able to offer incentives to close on their existing properties.

In addtion to being a great buying opportunity the location next to Apex Park and the walkability aspect to the Laurel Park Elementary School are all positives for this very well liked community.
0 votes Thank Flag Link Thu Oct 22, 2009
Walk to school, to Apex Community Park, and no heavy traffic in the neighborhood. I like what Standard Pacific puts out for the money. This may be a great time to buy an inventory home by year end, in a good location central to all that Cary and Apex have to offer.
Web Reference: http://MikeJaquish.com
0 votes Thank Flag Link Mon Nov 24, 2008
Hello Sunita,

I am not real familiar with the Laurel Park community, but have viewed and walked through several of the Standard Pacific Homes in the Brier Creek area. They are also offering realtors bonuses and deep discounts to Buyers. This community is close to RDU, RTP, restaurants and shopping. Just in case you wanted to see some other communities that Standard Pacific offers. Here's a link for more info.
0 votes Thank Flag Link Mon Nov 24, 2008
Hi Sunita,

I actually live in a Standard Pacific home in NW Raleigh. It's a decent product for the money, but SP is a tract builder, so while they can offer more incentives than custom builders, there won't necessarily going to be the same degree of "finishing touches" in the home. Based on the info I looked up, they were offering a combination of $8000 in agent bonuses, $20K in design gallery choices, and/or a 3/2/1 interest rate buydown if you used their mortgage company and could close within 30 days.

Although I lived in Cary for 7 years, I have not yet shown houses to clients in Laurel Park. I think some of the reason that there may not be as many sales is because there are so many choices when it comes to new construction these days. This neighborhood seems to be close to the railroad tracks based on the map I was looking at and my familiarity with where Old Apex/Laura Duncan Rd are, so that may also have a little bit to do with it as not all buyers prefer to live near them... others may not mind, especially if they're from bigger cities and are used to hearing noise. Sometimes there may have been more that sold that weren't listed in MLS since they were pre-sales, so you can always check on http://www.wakegov.com by street name to see how many residents are there currently. Thanks and have a great afternoon! Here's a link so that you can look at the ones that have sold there and are currently active. http://trianglemls.mlxtempo.com/Pub/EmailView.asp?r=43574869…
0 votes Thank Flag Link Mon Nov 24, 2008
Hi Sunita,

The interior of the homes are nice with hardwoods on the main level and open kitchens w/ granite. The layouts are open and airy. The bedrooms are on the second level. However the lots are very small at an average of .15 acres. Many buyers prefer larger lots of at least .25 acres.
Also Laurel Park is a new school that is year round and has no EOG & ABC results as of yet. Some buyers prefer to have this information before they make a home purchase.

Hope this helps.
Lizete
Web Reference: http://www.LizeteSantos.com
0 votes Thank Flag Link Mon Nov 24, 2008
We recently helped clients purchase a home in Laurel Park and had a good experience. The Builder's Staff was very helpful in meeting the needs of our clients from the start to finish. The community may be experiencing the same slow down that the rest of the Triangle is experiencing, affected by lower consumer confidence although not an accurate picture /reality for strong qualified buyers that are still looking to buy. With tighter loan requirements, people that are unsure about their financial situation or that may have some issues are needing to work on these before moving forward. This leads for a smaller pool of buyers with a larger amount of inventory as a result of less demands. The result is just like food people will still need shelter, and as things balance out there will be increased demand. What we are seeing is that in the Triangle there are several factors that may pull us out ahead of areas of the country.
Best Regards,

Andre J. Powell
Web Reference: http://www.daltonpowell.com
0 votes Thank Flag Link Mon Nov 24, 2008
Hi Sunita,
Standard Pacific is a good builder and are all around the Triangle, including Brightleaf at the Park, near RTP. The Laurel Park community, has actually had 7 New homes sold this year, so I guess given the press coverage of how "bad " the market is that is not bad. Let me know if I can be of any help helping you find your home.
Michael
Web Reference: http://www.colvinm.hpw.com
0 votes Thank Flag Link Mon Nov 24, 2008
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