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Spitz
Supporter
Username: Doublea
Post Number: 1765
Registered: 3-2003
| | Posted on Wednesday, May 10, 2006 - 3:28 pm: | 
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One of the townhomes is listed on Realtor.com at $1,600,000. I think this is the highest price that I've seen for this development. I think that $1.3 million was the previous high. Does anyone have first-hand or anecdotal information as to how the units are selling? Does this price reflect a large demand for the units? I have seen ads in the Star-Ledger and NYT by Pulte offering incentives.
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cmontyburns
Citizen
Username: Cmontyburns
Post Number: 1815
Registered: 12-2003
| | Posted on Wednesday, May 10, 2006 - 3:41 pm: |
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You can drive up there. Several of the homes clearly have people living in them, or have people about to move in.
Some of them are in ridiculously horrible locations -- backing up into a giant stone wall, or a neighbor's house. |
susan1014
Supporter
Username: Susan1014
Post Number: 1560
Registered: 3-2002
| | Posted on Wednesday, May 10, 2006 - 5:45 pm: |
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I think there were supposed to be a few free standing homes, in addition to the many townhouses. Could this be one of them? |
Bob K
Supporter
Username: Bobk
Post Number: 11478
Registered: 5-2001
| | Posted on Wednesday, May 10, 2006 - 6:10 pm: |
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A quick glance at one of the local realtor's website shows that they have been selling, mostly in the $950k to $1.2mil range. Some sell below asking, others over asking. |
Spitz
Supporter
Username: Doublea
Post Number: 1766
Registered: 3-2003
| | Posted on Wednesday, May 10, 2006 - 6:30 pm: |
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susan1014: The realtor.com description says it's a townhome, and the picture shows a townhome. I have driven up there as cmonty suggests, and I have to agree with him about some of the locations. If any of the newcomers are reading this thread, welcome to S.O. If the units are selling well, it shows the desirability of S.O. I have to guess that a lot of the buyers are commuters. |
MHD
Citizen
Username: Mayhewdrive
Post Number: 4046
Registered: 5-2001
| | Posted on Wednesday, May 10, 2006 - 8:04 pm: |
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Spitz,
The unit in question is quite likely one of the "models" that is pimped out with every upgrade available.
Susan - there were 7 houses that were built & sold along Harding/Underhill. The remaining 62 units are attached townhouses within the quarry. |
Factvsfiction
Citizen
Username: Factvsfiction
Post Number: 389
Registered: 4-2006
| | Posted on Wednesday, May 10, 2006 - 8:14 pm: |
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If they decided to build in your community, it's all good.It means they figured out they could get the prices they wanted, and that ain't bad for the rest of you. |
MHD
Citizen
Username: Mayhewdrive
Post Number: 4047
Registered: 5-2001
| | Posted on Wednesday, May 10, 2006 - 8:30 pm: |
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When you can buy 30 acres of land for $6 million and then get subsidized $1.2 million by the town taxpayers, who wouldn't take the deal. |
Spitz
Supporter
Username: Doublea
Post Number: 1767
Registered: 3-2003
| | Posted on Wednesday, May 10, 2006 - 8:42 pm: |
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Agreed. And the fact that they are selling in the $1 million range says a lot about South Orange being a very desirable place to live. One caveat I have is that there appear to be more single family homes on the market now in the $1 million range which might compete with the townhomes. It may just be that this is the time of the year when more houses go on the market.
On the other hand, there are probably a lot of buyers who want something new, and Pulte does have an excellent reputation (although I know there are some who would disagree.) The purpose of my initial question was to get some feedback on how the units are selling, and it appears that the demand is strong.
Edited to add: My post was referring to FvF's post. |
vermontgolfer
Supporter
Username: Vermontgolfer
Post Number: 430
Registered: 12-2002
| | Posted on Wednesday, May 10, 2006 - 8:56 pm: |
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MHD,
I believe we don't share the same opinions on the quarry, though some of the issues you raise are valid, but remember it was private property, so the owner could have sold it for anything he wanted. Of course, if I'm mistaken, I'm sure someone will immediately correct me.
The $1.2M, I'm not up on, so I cannot comment. |
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