DR Horton has started building in Legends at Parkview

By
Real Estate Agent with Century 21 Results Realty

I've written a couple of posts about the Legends at Parkview.  Mayfield Homes was the original building in the community, but they ended up getting foreclosed.  DR Horton picked up the remaining lots and have recently started construction. 

Legends at Parkview signWhen Mayfield was building, the pricing went from the $500Ks to $700Ks.  Even when the unsold homes were being sold by the bank that foreclosed, they were selling from the low $400Ks to the low $500Ks. 

DR Horton is building homes priced from $270K to $310K.  I would expect that there are some options that could push that price up a bit, and while I haven't seen the final product (they don't have any completed or nearly completed homes up yet), the homes Mayfield was building were a bit bigger and featured mostly 3 car garages. 

The owners of the older homes are going to end up taking a very big hit.  Despite those homes being bigger and possibly higher end, with the new homes coming in around half the price, it will push the values of the first phase down.  But those comps will certainly help the newer homes. 

If you'd like to get a look at them, let me know.  I'm NOT an agent of the community and would be your buyer's agent.  That means that I wouldn't be representing the builder, but rather you... the buyer. 

Here is a search of currently listed properties in Legends at Parkview. 

*****Update*****  While out today I noticed that the signage had been changed to say "From the $280's".

Posted by

Find YOUR Dream HomeWhat's YOUR Home Worth?How's the Market?

Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey. 

I'd love to hear from you...

DeliciousDiggRSSOn TwitterFaceBook

Email Me

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
Georgia Gwinnett County Lilburn Legends At Parkview
Groups:
Georgia Real Estate
Posts to Localism
Local Expert
Tags:
news
gwinnett
foreclosure
lilburn

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
699,208
Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

Lane were the other homes built iin Legends at Parkview custom built?  If so they most probably (aside from the desirable 3 car garage) have a good amount of upgrades and custom features that should set them apart.

Jan 10, 2010 04:15 AM #1
Ambassador
890,780
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy

Pamela - They weren't really custom, but the builder was open to modifications, but I think most of them were built on spec (hence the cash flow problem).  And I don't see that there will be $300k in upgrades and custom features...  But, I'll have to get in to see them after they get some inventory built. 

Jan 13, 2010 08:42 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
890,780

Lane Bailey

Realtor & Car Guy
Ask me a question
*
*
*
*
Spam prevention

Additional Information