Julie is right. We just had a similar situation up here in Alpharetta/Cumming with a new construction home that seemed to be priced too good to be true. When we arrived with the Buyer the first thing we noticed was the sound of afternoon traffic from GA400 located directly behind backyard...about 50 yds from back of home. We left that property for quieter living. Months later it is still on the market.
Homes like this will sell in a Seller's market where listings in certain areas become scarce and Buyers are willing to take any home just to get in a particular area or neighborhood at a good price. Stucco homes, undesirable yards, first home in S/D, backing up to undesirable all stand a better chance of selling in a Seller's market. Then comes the Buyer's market. Flooded with competitive inventory and prices, there are so many good opportunities that these less than desirable homes have to take deep discounts to compete....if they can sell at all. Many of them will probably sit through this entire market without selling or they will fall into foreclosure. Right now only about 20 - 30% of homes listed are actually selling and the rest expire or are withdraw from the market.
You should always go into this market with an exit strategy. How easy will it be to resell your investment? You don't want to be the next one stuck with the lowest priced property and still be unable to sell it.