Never lived in but visited often.
My in-laws tried the whole it’s better here thing in Harveston. Did not work out for them. Just off the lake near the pool house. Probably the most ideal spot. They had all the pluses for the place going for them. Kids, location, etc. etc.
None of that matters now. It comes to basic math. No one can hold out long enough to survive being underwater on the mortgage. The real average household income for the residents are 50-70k. That pencils out to homes from 150-350. We are no where near that.
The build out has stopped (unfinished pads in the SW area). The teaser loans are only 2-3 years old for most of the homes. The HOA is low because most purchases at the end had that thrown in for 1 or 2 years. Banks with REO’s ignore HOA fines, foreclosures don’t pay HOA’s.
I did a tour of the Repo’s, the sales center is a repo next to the pool house. You have lot’s of choices and a lot more to come.
Don’t be in a hurry to Buy into the dream. Harveston is not going anywhere. Give it another 2 years or so (2012 is better) to weed out all the bad loans.
Dont’ buy on the lake or near the big park. Too much traffic and parking is taken up by everyone who can’t bother to walk to the lake or park. Aim for half way between the park and lake on the south side along the landscaped paths. Save up for a downpayment. The only thing that will matter in the future is 20% skin in the game.
It is going to get worse for the IE and the rest of us. ID some lots in REDFIN as favorites and sit back and watch.
