Kara Homes Price Drop
One of the readers here posted last week that Kara Homes dropped the price of the six remaining Tradewind’s Homes by a million each to $3.75 million. I guess we should have figured that Kara was having a hard time selling these McMansions earlier in the year when they listed them with Diane Turton instead of selling the houses themselves. I looked at the sales records the other day and noticed that Kara did manage to sell a few of these houses last year above the $3.75 million level.
posted by Little_Silvered at 6:06 PM
14 Comments:
VERY interesting..........
I actually live year round at the shore. It is clear the market is dead where it sits. Very few houses are being sold, and the offers are way below asking price. Maybe the NYT reporter and Sally-o should come take a look before trying to pass off their tall tales.
Ask a few sellers, my neighbor is just one of the many who are not getting any offers. Buyers are scarce and they are not willing to pay top dollar.
jr
Centex was been discounting prices for their new homes for months now just to boost sales... Kara is doing the same trend... on high-end homes... and giving free-options but not lowering PRICE of average pre-cronstruction New HOMES !!!
for homebuilders !!!
Bad Omen: 30-year Mortgage rate at 6.66%
Tradewinds is certainly not the only place Kara is dropping price. I know there is a development that they have in Jackson that has seen a drop of about 15 percent. It is, of course, still wildly overpriced.
People inside Ryan Homes are saying nothing is moving either and KHov's latest public statement is about how badly things are going.
pesche22- I have seen condos in the Lavallette to Manasquan area (some still unfinished) A few were sold pre-construction, but the rest are still for sale with reduced prices and/or for rent. They all have realtor signs in front but do not seem to be occupied. I am glad I didn't buy one!
does anyone know about the Ryan homes (new) in Toms RIver (off of Clifton Ave.)?
apparently have many incentives if you go with their mortgage company, NVR.
be carefull of incentives for one stop shopping. it all sounds good but when you are in agreements to deal with their realtors, lenders, etc. you are then at their mercy and it seems those great incentives aren't so great. business 101, if you are getting a great deal you will pay for it one way or another, there is no free ride.
Heard Kara Home is going through BANKRUPTCY, BE CAREFUL
Kara Homes has dropped the homes prices for over $100,000 for its new development in both monmouth and middlesex counties: i.e.:
Cottage Gate in middletown, NJ
Park Meadow at Edison
Crine West Estates at Marlboro
...
Kara has a bad reputation of poor quality and finishing. Buyers are not happy but are forced to close. I have heard many law suits against Kara.
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i see someone said Kara Homes is in bankruptcy and to be careful. careful of what?
Did anyone here about the builder Signature Homes I currently am in a contract with them, and I have put money down if anyone has any vital information please share they are down in South Jersey area.
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