Quote:
Originally Posted by Pat2015
I don’t see the prices decreasing in the Eastport area. If anything I see the prices increasing with the surrounding Villages closest to the square like in Waters Edge. Just speculation, but I think that’s going to be a hot area for buyers.
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With this housing market, I do not believe it is wise to speculate. Currently, a large inventory of available homes is pulling the price of both new and preowned down.
The developer may not be having a problem selling homes with views in the Eastport area. In fact, many are being purchased by Villagers with existing homes. However, interior sites are a different story. Perhaps, he will increase the price of premium lots. But the homes? Lake Denham and Dabney interior home sales have been SLOW. It has been nearly a year since construction was completed and many homes remain available even with discounts. Why would he risk raising prices?
IMO, it is probably a good idea to wait and watch. Those who are rushing in to buy whatever they can in the Eastport area due to the lottery, may find a sizeable profit in a year or so is NOT going to happen. It is no longer a seller's market. Chances are it will remain a buyer's market for several years. If so, this means home prices will continue to fall.
More commercial in that area? I believe the chances are slim. At least, for now. With inflation and rising wages, most companies are cutting costs. Few are able or willing to expand.