We are looking to buy a new home. Have been researching different locations in Virginia for about 4 or 5 years. About 2 years ago we thought we had finally decided that we liked the new home community of Monticello Woods in Williamsburg, Va. However, the builder was not very cooperative and the sales agent was the only one we got to talk to. Therefore, we decided against it and continued our search. There was something about the whole deal that just didn't seem right to us. Anyway, we have since started building in another community with a very good and cooperative builder. Recently on one of our trips to Williamsburg we decided to take a ride out to see how Monticello Woods was doing. We counted at least 16 to 18 homes with "For Sale" signs in front of them! We were just curious to know why that many people are moving out?! Seems like we made the right decision not to build there.
The ironic thing is that he is building more homes there!
2006-10-28 12:46:51 · 6 answers · asked by ursaitaliano70 7 in Business & Finance ➔ Renting & Real Estate
This is a scenario that is playing out country wide. The market is saturated with homes as people try and sell there homes before the market goes down any further. Homes are staying the market longer and selling for less. I am not sure it is a bad or good decesion as it depends on how quickly those other houses sell. If you had that "ut ohh' feeling you probably did the right thing. Good Luck!
2006-10-28 16:43:17 · answer #1 · answered by mikeyc06010 2 · 0⤊ 0⤋
New home are not on the MLS so a lot of people were buying these homes and then reselling them IE placing them on the MLS, they shorted the market thus driving up prices and creating a housing bubble. Do not worry a lot of other were doing The same thing well they drove up the prices up so far no one wants to or can buy. now they have flooded the market. see what other game they have played with the market.
http://www.breakingbubble.com/index.htm
2006-10-28 13:00:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Ask the salesperson, or a local realtor. Maybe people lost their jobs and cant make the payments. That's why a lot of homes are for sale now. It's everywhere, not just Virginia.
2006-10-28 13:35:28 · answer #3 · answered by hirebookkeeper 6 · 0⤊ 0⤋
Perhaps they found out they were on a toxic waste dump, but more likely you're seeing our collapsing housing market. Those for sale signs represent a lot of people who bought those houses hoping to flip them, that is, sell them on the day they buy them. Then, the market collapsed and instead of making a killing, they're taking a beating. And trying to get out from under adjustable, negative amoritization mortgages which are skyrocketing.
good luck with your new home.
2006-10-28 13:00:51 · answer #4 · answered by cassandra 6 · 0⤊ 1⤋
Probably has something to do with all the UFO's sighted in the area.
2006-10-28 12:51:46 · answer #5 · answered by Anonymous · 0⤊ 0⤋
it was built over an old graveyard and people see things. ;)
2006-10-28 12:56:18 · answer #6 · answered by key key 2 · 0⤊ 0⤋