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Village at Waxpool - resales?

Discussion in 'General Chat Forum' started by sharse, Mar 17, 2008.

  1. sharse

    sharse TeamDonzi rocks!!

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    I know there's "Waxpool Village" and there's Village at (of?) Waxpool. Can't recall which is which, but the one I'm talking about is the one that is being built right now; you can get there off Ridgeway in SW or you can turn in off of Belmont Ridge.

    Anyway, I drove through there yesterday and noticed a ton of resales already. Anyone know why?
     
    sharse, Mar 17, 2008
    #1
  2. Zeratul

    Zeratul Well-Known Member

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    I do not know specifically, but I have a former neighbor that lives over there, I will be seeing them this weekend and will ask. My guess would be the same reasons that it is happening elsewhere... high mortgage payments, and getting out of something so big and expensive... at least for some of them. I think those kind of large houses are some of the hardest to sell right now... in the $1.0 to $1.5 range...
     
    Zeratul, Mar 17, 2008
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  3. Sunny

    Sunny Chief Advisor

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    My mother just listed several(4) of the properties over there and the owner is an investor that needs/wants to get out now. They were listed in the $1mil+ range but now they are like in the 8's b/c they are short sales and they just need to sell them quick. PM if you want more info on the houses.
     
    Sunny, Mar 17, 2008
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  4. JLC

    JLC Member

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    I was driving on Ridgeway the other day and saw an awful lot of "for sale" signs.
     
    JLC, Mar 17, 2008
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  5. sharse

    sharse TeamDonzi rocks!!

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    Sunny -- I looked for you at the gym today... you told me you'd be there! :)

    Anyway... while I'd love to have one of those huge houses on nice pieces of land I'm by no means looking to sell or move. I was just curious that so many of those houses which are very, very new are already for sale! Was wondering why there appeared to be such a fire-sale.
     
    sharse, Mar 17, 2008
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  6. flynnibus

    flynnibus Well-Known Member Forum Staff

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    same contributing factor to many prices going through the roof... too many speculators/investors. Buy in pre-construction and sell immediately afterwards for 'huge profits' was common in new construction.

    Why fix up and repair a home when you can simply buy in pre-construction and use cheap financing to flip and make big money. At least that's how it worked if your timing wasn't aweful :)
     
    flynnibus, Mar 17, 2008
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  7. beergutvt

    beergutvt New Member

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    People just got in over there heads. I remember looking over there when they first were being built. The sales lady was trying to convince me I could easily afford a 900k house and said that they werent going to get any cheaper. Houses in this area shouldnt be any more then 500k. People are going to be stuck for awhile.
     
    beergutvt, Mar 19, 2008
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  8. Sunny

    Sunny Chief Advisor

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    busted!
     
    Sunny, Mar 19, 2008
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  9. snoopy

    snoopy Senior Member

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    I believe there is a former Redskins player living in that community and he is looking to sell since he got a job in another city .... However with so many short sell houses in the neighborhood, he is having one heck of a time unloading his house ....

    Ride down is just as scary as ride up when it comes to real estate ...
     
    snoopy, Mar 19, 2008
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  10. Lee

    Lee Permanent Vacation

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    snoopy you have a great avatar. I just love it :)
     
    Lee, Mar 19, 2008
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