Mary,
I am also a local real estate professional. I specialize almost exclusively in Apex. I would point out that if you are looking just at homes that have sold in that price range, you might want to consider that there have been few neighborhoods with homes in that price range up until last year. When you look at what is selling, you have to look at what is available TO sell. For example, we did a small subneighborhood a few years ago w/ all brick homes. My builder was told that it wouldn't sell. He was told that no brick homes had sold in the prior year. Well, that was because there weren't any! You also have to be careful when looking at days on the market. Many of my builders will list a home before they even break ground. We also have a lot of horse farms, etc in the higher price ranges which inherently take longer to sell, because they require a more specific buyer. Make sure you are making the right comparisons.This is a beautiful neighborhood, and there really aren't others quite like it.
Finally, bear in mind that this is a custom built neighborhood. Custom builders do not have the enormous profit margins that the larger volume builders do, so I wouldn't expect more that a 5% discount. And remember, in any neighborhood, what you pay for your home instantly affects the values of the others. If the builder accepts a much lower price, it instantly devalues every home in the neighborhood.

Hi Mary -

While our marketing is feeling the ripple effect of the troubled markets outside this state, the builders are still getting close to 90% of their asking price. They are willing to negotiate and work with buyers who come in with a valid offer. As Heather stated below, working with a buyer's agent who is knowledgable of the area, will run the comps, and work pro-actively with you, the buyer, to find a home that you are already pre-qualified for will be a win-win situation for both you and the builder.

Hope you find just what you are looking for.

Hi Mary,

I am an agent in the Cary and Apex areas and there is currently high inventory of new construction homes in that price range in Wake County, however even with the slow market, builders are still getting close to asking price. I would recommend working with a Buyer's Agent who can provide you with comps on what has sold in that neighborhood recently and help you research your options. Good information always goes a long way in making wise investment decisions. Best wishes in your endeavour and keep asking questions! You are on the right track to understanding the process and mindset of the Seller.

What's interesting is that even more homes have sold above $400K this year than last year. It's just that there are more homes available than have been sold. A real estate agent will be able to tell you what similar homes in the neighborhood have been selling for, but in the Triangle area, homes are still selling at 95-97% of asking price. On a $669,000 home, that means that in most cases, the average seller accepts an offer of no less than $635,550. In a sought after area with a home in a hot price point, offers are still being written for above asking price.

Of course every situation is different, and this seller may be more motivated than others, but a discount of 25% seems unlikely. There are very, very few builders with that high of a profit margin!