What do you think about the real estate market in Luther Forest?

You're the agent - you tell us. From what I see prices have come down just a little but things seem to be moving. Of course that was before all this FannyMae and FreddieMac stuff. I think mortgages will be harder to get and mortgage rates will be going up as well as points to get a mortgage.

Townhomes I think are moving quicker then houses. If AMD commits to coming, the market will boom here again. St Ledger Woods is an absolute disaster of an idea. None of their lots have sold, starting at $700,000. People will only pay that kind of money in Saratoga, or if they get land with the house. The houses are spaced like a normal neighborhood, not much land.

TOO MUCH building! Where are all these people suposedly coming from? It is a building boom gone awry. Soon banks around here will go under from lending out money to building firms that can't get customers to buy their houses. It is rediculous!

Since IBM wants to build another plant, maybe AMD could step down and let them take over the site. Then just watch this area boom!!!!

AMD and IBM have a very close working relationship. What you are proposing could very well fit into AMD's "asset-light" strategy. I guess we'll find out sometime in the next year.

quote:

Originally posted by DA:
...St Ledger Woods is an absolute disaster of an idea. None of their lots have sold, starting at $700,000.

I just saw they're selling the model home already- for $991,000!

quote:

Originally posted by latmeb:

quote:

Originally posted by DA:
...St Ledger Woods is an absolute disaster of an idea. None of their lots have sold, starting at $700,000.

I just saw they're selling the model home already- for $991,000!

That model home must be extremely nice on the inside, because from the outside it looks nothing like a million-dollar house. I drove through there a couple of weeks ago to check it out and there are much better places in the area to buy if I were going to drop that kind of cash on a house. I do like the sculpture at the entrance, though.

Yes, the entrance is very impressive. It looks like it's made of copper. Very unique.

quote:

Originally posted by jp:
Yes, the entrance is very impressive. It looks like it's made of copper. Very unique.

I noticed that there is a very similar one outside of the horse racing Hall of Fame.

I think the market for moderate priced homes like Luther Forest is great! FHA financing is available so I'm still able to get buyers with small amounts of cash into Luther Forest Homes as they are for the most part within the FHA loan limit for Saratoga County. I noticed Joe that you're new to the business and I wish you all the best of luck in this difficult market.

As an Agent and as a current resident in Luther Forest, I agree with JP, prices have dropped to some degree. I also see houses in Luther Forest going on the market and selling. These homes are not on the market for that long when compared to other markets in the Capital District. I agree with Hugh as well, that moderate priced homes such as Luther Forest, is Great. When you look around, you can see that. That goes for homes as well.


When I talk to people out of the area, people are always asking and wondering about this area. I think that is great. People are aware and curious,in my opinion that is a positive.

Plus the fact I have a bigger yard in a townhome than most of those lots which are currently all shale, perhaps before the town allows anymore building, they should look at building a school. The current schools in Ballston are busting at the seems now, with more families coming into the area, how is the school system going to cope with where to put additional kids?

quote:

Originally posted by hokieian:

quote:

Originally posted by latmeb:

quote:

Originally posted by DA:
...St Ledger Woods is an absolute disaster of an idea. None of their lots have sold, starting at $700,000.

I just saw they're selling the model home already- for $991,000!

That model home must be extremely nice on the inside, because from the outside it looks nothing like a million-dollar house. I drove through there a couple of weeks ago to check it out and there are much better places in the area to buy if I were going to drop that kind of cash on a house. I do like the sculpture at the entrance, though.

A Townhome with a big yard is a plus, that is a great feature to market when you decide to sell. In terms of a school, there is alot of talk in terms of Malta having their own school district.