Update on The Hamptons at Umstead

Over the past few weeks I've had lots of inquiries about The Hamptons at Umstead - an exclusive community offer by Coldwell Banker HPW, in Raleigh, North Carolina.

In case you aren't familiar with this community, it is a brand new secluded community located on Ebenezer Church Road in Raleigh. There will be 215 home sites with lot prices starting at $180,000. Lot sizes will be from .29ac to .89ac. There are 22 custom home builders to choose from.

Lots may be reserved prior to recordation of the property and first builder lot draw. Recording is anticipated summer 2007. Buyer may select lot and secure it with $1,000 refundable deposit. Reservations taken prior to recording will remain valid for thirty days after date of recordation. After 30 days, deposit monies will automatically be returned without further notice if there is no contract. Deposit money can be transferred from one lot to another.

A signed contract with a preferred Hamptons builder is necessary in order to close the purchase of a lot. Construction of the dwelling shall begin within ninety (90) days of lot closing.

A few facts about the community:

• Lot recording will begin in June or July.
• There will be basement home opportunities.
• Streets are all cut in but will be able to see the flow of things much better in Phase II - 30 days.
• Curb and gutter started this week.
• There will be no model home; the clubhouse will be the sales center.
• Approximately 13 lots have already been reserved.
• The community will not be gated.
• There will be a swimming pool but no tennis courts.
• City water, sewer, and natural gas will be available.