Home Buying in 27560>Question Details

David, Home Buyer in 27560

How does Providence Place townhomes compares to Stonewater (Lennar) townhomes in Cary in terms of resale value, location etc.?

Asked by David, 27560 Tue Dec 22, 2009

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Hello David,

Both are relative new communities. Stonewater is little easier to access several major highways, I-540, I-40, I-54, and I-751. It is only about 10 minutes to South Point mall. It is in city of Cary; Providence Place is little tucked away and is little closer to railroad along Church street. It is in city of Morrisville.

I'd suggest to work with a buyer agent who have done business in both places. Not only they can have some insight knowledge about the community, the past sales information, and the latest market condition in general, but also can negotiate on your behalf. The commission is directly from the builder, not from buyer's purchase price. It is a free service to you. Remember builder is representing the selling side.

If you would like to find out my experience of working with my buyers in both communities, I'd love to talk to you.

Thanks,

Jean
0 votes Thank Flag Link Tue Dec 22, 2009
Hi David, I will address the 'location' element first. Both are terrific locations. Providence Place is strategically located in Morrisville; just a few minutes from the 540 exit (on 54), shopping, RDU and RTP. I had buyers who work in Durham but being almost at the border with Durham, chose to live in Providence Place. Now with Lennar Stonewater town homes, they are also just a couple of minutes from the 540 exit (on 55). Terrific Cary location, has more amenities like Club house etc. Therefore, from a location perspective, both neighborhoods are great.

About re-sale also, we can only predict that the interest that these neighborhoods are enjoying now will also continue when it comes to re-sales.

If you need to discuss more on my experience with these neighborhoods, please don't hesitate to contact me at any time.
Web Reference: http://www.RealTriangle.com
0 votes Thank Flag Link Tue Dec 22, 2009
As far as resale, considering that both neighborhoods are relatively new, resale is going to be hard to determine without history to analyze. What I can tell you is that median townhome sales in the Morrisville area based on 3 bed 2 bath minimum; built in 2008 or younger are as follows: 1st quarter 2009=234,725, 2nd quarter 2009=$192,030 ( 7 total sales and 2 over 200k) 3rd quarter 2009=$205,880 (24 sales and almost half were built in 2009) . What this tells me is that consumer and builder confidence is building due to the increased new construction sales in the 3rd quarter. I would be glad to speak with you further about other things that come into play with resale such as school and community info. Let me know if I can help
0 votes Thank Flag Link Tue Dec 22, 2009
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