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Some Communities Are Waiting For The Tide To Rise!
Some Communities Are Waiting For The Tide To Rise! As we review home values in our Warren County market, it becomes pretty apparent that some communities are waiting for a rising tide.  Not a literal watery tide, but the real estate recovery tide that lifts all ships homes.  These communities are developments primarily built in the 2005-2009 time frame.  New construction was booming, hammers were swinging and builders were turning cornfields into communities at a rapid pace. Few people saw the market downturn coming until it was too late.  The homes were theirs, mortgages signed.  In some cases builders stopped in mid-development and home values were further hurt.  Amenities promised?  Sorry about that!  Acres of bulldozed dirt, half finished streets and an uncertain future.  Fortunately for most of these communities, other builders have recently acquired the lots and they're making efforts to finish the communities.  Now that doesn't mean the new homes are always at the same price point, but a finished development trumps an unfinished product. Meanwhile, homeowners have been stuck in limbo, and this doesn't apply merely to homeowners in partially finished communities, but some finished communities too.  The values dropped enough that if the owner didn't make a ... more

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