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Ellen Messerschmidt

"REALTOR"
  • 7 Helpful Answers
  • 22 Answers
  • 1 Blog post
Agent at Keller Williams Realty Lanier Partners
About:
Ellen has been a full time Realtor with Keller Williams since 2005. She serves Hall, North Gwinnett, Jackson, Forsyth, Dawson and Lumpkin Counties. ... show more
Testimonials:
"Ellen was very professional in every way. She had all the documents ready at every meeting, would explain the details of the contract, and would always ... show more
Ellen Messerschmidt answered:
Buying a house in an unfinished subdivision is a gamble. You may get an excellent value if the subdivision is finished (someday) with houses of similar quality and size. That is most likely a long range scenario.

There is a possibility that the subdivision might resume building smaller homes of a lesser quality which would devalue your home.

If you have to sell before the subdivision is finished (or at a time when building has resumed in the subdivision), you will probably lose money because of two factors: first, new construction usually sells for more than a resale in the same subdivision; second, less people are willing to take the same risk you took for a resale. If it is a subdivision with amenities there is a chance that they will not be built at all, or if they are already built, they may be shut down because the homeowner's association is not generating enough income.

Let me know if you have any more questions I can help you with. - Thu Dec 10 2009, 08:29

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