Heritage Wake Forest has just announced brand new homes in the sub $300,000 price point. As a matter of fact, prices in this new section of Heritage are as low as $220,000 for a 1927 square foot detached single family home with an unfinished walk up attic.
And just in case you’re thinking that these new homes are stuck away in some remote, less desirable part of Heritage Wake Forest, think again. They are located in a very visible area near one of the neighborhood’s cornerstone features – Forgotten Pond.
The builder, Terramor Homes, is planning to do spec homes at a pretty aggressive pace, given the still slow Raleigh real estate market. The photo at the beginning of this article shows four spec homes of which 3 are already sold. Some smart home buyers are even beginning to do pre-sales to make sure they get the lot of their choice.
Heritage Wake Forest has traditionally been a $350,000 plus neighborhood with some of the larger custom homes priced over $700,000. Plans to build these large, highly custom homes have not been abandoned. But a conscious decision has been made to address one of the hottest areas of our market, the sub $300K price point, which accounts for 75% of all sales in Wake County.
In the past two weeks I’ve already shown these new Heritage Wake Forest homes to several clients and have one who is planning to either do a pre-sale or try to catch one of the new spec homes coming out of the ground in the next 30 days. My prediction is that this area will sell out fast and the developer at Heritage Wake Forest will have to give serious thought to allocating another part of the neighborhood to this price point.
Of course the decision to build this product was made based on market conditions. If those conditions change, and the market shifts back towards higher a volume of large, high-end, custom homes, this could be a limited time opportunity to get into this sub $300K price point in such a fantastic neighborhood.
Here is a list of the neighborhood amenities available in Heritage Wake Forest
- Two swimming pools
- Lazy river
- Tennis courts
- Golf course
- Walking trails
- Fishing pond
- Soccer field
- Parks
- Playgrounds
- Neighborhood shopping & restaurants
If a brand new home in a neighborhood like Heritage Wake Forest interest you, priced between $220-300K, contact me to find out more and to schedule your personal tour of this amazing community.
