Gail n Greg - Your Agents @ The Beach

CLOSED IN KING'S CREEK COUNTRY CLUB

48 King's Creek Circle closed on June 1st after only 73 days on the market.  The Sellers got 93% of their asking price or $589,120.  The home was listed for $635,000.  It has 3 bedrooms, 2.5 baths and was built in 1997 on this 22,000 square foot lot.  The house itself advertised 2,600 dwelling square feet.  This ranch also advertised an irrigation system, 2 car garage, breakfast room, den/study and a rec room.  5 homes have closed this year in KCCC with an average selling price of $634,024 and 349 days on market.  There are 3 more under contract waiting to close and 7 active.

TWO UNDER CONTRACT IN KING'S CREEK COUNTRY CLUB

Two very different products went under contract in King's Creek.  One a foreclosure property that had been listed back in January for $398,000.  It was pretty well documented that 8 Wolfpit Court was in pretty bad shape (mold, etc.) and for that reason had been reduced a couple of times to be at $349,900 at the time of contract signing.  This will be the lowest sale in KCCC since I've kept records (6 years).  At the same time, 48 King's Creek Circle went under contract after just 73 days at the original listing price of $635,000.  There are now four properties under contract waiting to close.  Seven left.

UNDER CONTRACT IN KING'S CREEK COUNTRY CLUB

5 Queen's Court went under contract this past Saturday after only 85 days on the market.  It had been reduced once since listing from $650,000 down to $639,900.  It is in "continue to show" status.

PRICES CONTINUE TO ERODE IN KING'S CREEK

8 Wolfpit Court continues to reduce price and now sits at $349,900.  This is a Bank Owned property that must have some serious issues as this price gets it below lot value in this otherwise high end community.  Buyer beware.

1 Johnson Branch Court also reduced yesterday from $642,500 down to $624,500.  It has only been on the market for 24 days.  It is not a distressed property.

PRICE REDUCED IN KING'S CREEK COUNTRY CLUB

5 Queen's Court reduced price yesterday for the first time from $650,000 down to $639,900.  It has been listed for only 68 days.

CLOSED IN KING'S CREEK COUNTRY CLUB !!!

124 King's Creek Circle became the fourth home to close in KCCC this year.  It had been on the market for only 185 days but went for only 84% of the original asking price of $625,000 to close at  $525,000.  It is a 3 bedroom, 2.5 bath 2 story contemporary on a 100 x 220 foot lot.  It advertises 2,600 dwelling square feet and was built in 1999.  This is a golf course lot.  Some lucky Buyer got a great deal here.

TWO NEW LISTINGS IN KING'S CREEK COUNTRY CLUB

Speaking of golf, 103 King's Creek Circle is advertised to be on the 9th tee and you know what that means.....$1,129,500.  This 5 bedroom, 4 bath 2 story home was built in 2005 and boasts a "1st floor master with his and her walk-in closets, whirlpool tub, room on 1st floor could be office or bedroom, safe room in master, granite counters, mahogany floors, cherry cabinets, sunroom, stone fireplace). 

4 Shankland Court listed yesterday for $599,000 and is a 3 bedroom, 2.5 bath contemporary on a 1/2 acre lot built in 1991.  It appears to be located on a heavily wooded lot on a cul-de-sac "surrounded by mature trees and landscaping.  Home features a first floor master w/luxury bath, modern kitchen, stone fireplace, vaulted ceilings, sunroom off master, finished bonus room and more".  We're now back up to 9 active listings in KCCC with 2 under contract and 3 closed so far this year.

PRICE REDUCED IN KING'S CREEK COUNTRY CLUB

Meet the winner of the latest wet t-shirt contest.  It has nothing to do with real estate but I thought it was funny.  What isn't funny for the Sellers of 8 Good Hope Court in KCCC is that they have had to reduce their price again, this time to $695,000.  That's a full $200K since listing the property back in June of 2010. 

Q1 - 2012 ACTIVITY IN KING'S CREEK COUNTRY CLUB

Lots of activity in KCCC already this year.  During Q1, 5 new listings came on line, one withdrew to leave us with a total of seven actives ranging in price from $378,300 to $1,133,000.  The average listing price is $666,771 and 256 days on market with the longest being 2 Patriot's Way at 877 days.  Three properties have closed already this year, two of which were "distressed" properties.  One was a foreclosure and one a short sale.  The average selling price of the three was $685,333 (73% of original asking price) and 496 days on market.There are two more under contract waiting to close, one of which is a short sale property.  It has been on the market a cumulative 909 days and the listing price had come down from $1,175,000 to $550,000!!  This is a pretty good start for KC considering a total of 6 sold all last year.

NEW LISTING IN KING'S CREEK COUNTRY CLUB

108 King's Creek Circle listed yesterday for $929,000.  It is a 4 bedroom, 3.5 bath two story colonial built in 1993 on a golf course lot.  It advertises 3,800 dwelling square feet and "beautiful golf course views from all living areas.  House is completely renovated from top to bottom w/new roof, larger kitchen w/many new appliances, new tile & granite, new carpet, new bathrooms, new sunroom, tankless hot water heater, 3 zone heating, conditioned crawl space and more".    It also comes with an irrigation system.  Sounds like a nice house.  The large master is on the 2nd floor.