Gail n Greg - Your Agents @ The Beach

NEW LISTING IN KING'S CREEK COUNTRY CLUB

8 Woldpit Court  has come on the market in KCCC.  This is the least expensive property I've seen in KC in many many moons.  It is listed for $397,900 with 3 bedrooms and 3.5 baths.  This Cape Cod was built in 1998 on a half acre lot and boasts 2,326 dwelling square feet.  The Agent remarks say it is "attractive, dormered cape style home situated in a convenient location of King's Creek subdivision.  Partially finished basement adds recreational space as does the hot tub on the balcony.  Sold as-is, nor warranties expressed or implied".  This is a foreclosed upon property folks.  Buyers must get pre-approval through BAC.

SOLD AND CLOSED IN KING'S CREEK COUNTRY CLUB !!!

First closing in King's Creek this year.  119 King's Creek Circle closed on January 24th for $629,000 or 68% of the original asking price of $929,000.  It was listed at $654,000 at the time of contract signing.  This was a 4 bedroom, 3.5 bath home...built in 2003 with 3,700 dwelling square feet.  It's advertised to have a "gorgeous two story great room, geothermal heat and AC, chef's kitchen with granite counter tops and cherry cabinets, bonus room, over-sized garage, 15KW generator, security system, irrigation, paved patio". 

At the same time, this "short sale" at 4 Mitchelmore Court went under contract again.  This is a sad story, it originally listed back in July of 2009 for the price of $1,175,000 and has come on and off the market, went "short sale", has raised and lowered the price a number of times and it sits at $550,000 at the time of this contract signing.  I dread to see what it actually sells for.

 

FORECLOSURE UNDER CONTRACT IN KING'S CREEK

The Bank Owned property at 3 Ellender Court  went under contract yesterday after only 27 days on the market.  It was listed at the original price of $559,000 at contract signing.  There are now two properties under contract waiting to close and six active listings.

2011 - END OF YEAR REPORT - KING'S CREEK COUNTRY CLUB

After a very slow start, Kings Creek  finally started to move in the 4th quarter with four of the six closings during the year.  There were three closings on King's Creek Circle, 18, 29 and 134.  Properties went for $475,000 (215 DOM), $640,000 (473DOM) and $625,000 (1288 DOM) respectively.  4 Black Walnut Court sold for $515,000 after only 87 DOM, 27 Patriot's Way went for $408,000 after 759 DOM and 6 South Fieldway went for $890,000 after 1569 DOM.  That's an average price of $592,167 and 732 DOM.  Sellers got only 62% of their original asking price.  There is one property under contract waiting to close, 119 King's Creek Circle which was priced at $654,000 at time of contract after 631 DOM.  It had originally been listed for $929,000.  There are seven active listings with prices ranging from $550,000 to $950,000 and an average of 447 days on the market.  (I did see the "short sale" on Mitchelmore Court go under contract last week so this will bring the number down to six active).  This housing downturn has really slowed the movement in the price range found in this upscale community.  The peak is considered to have been 2007 when KCCC saw 10 closings with an average price of $1,139,000 and 351 DOM.  In 2008 there were six closings with an average price of $718,000 and 379 DOM, 2009 saw only three closings at an average price of $843,000 and 698 DOM and in 2010 there were six closings with an average price of $705,000 and 297 DOM.  

HAPPY HOLIDAYS IN KING'S CREEK COUNTRY CLUB

127 King's Creek Circle  came back on the market on the 21st after a almost 4 month hiatus.  It listed back in July of 2010 for $674,000 and had been reduced once to $650,000.  They are now asking $549,000.

In the mean time, 1 Johnson Branch Court withdrew from the market after 251 days on.  It was listed for $648,000  when it withdrew.  There are still 9 active on the market.

NEW IN KING'S CREEK COUNTRY CLUB!!

3 Ellender Court came on the market  the other day for the asking price of $559,000.  It is a 4 bedroom, 3.5 bath colonial built in 2005 and boasting 4,748 dwelling square feet.  This "attractive and spacious colonial style hoe on cul-de-sac location.....has a pavered drive that sets the tone for quiet luxury! Granite counters in kitchen and hardwood floors in formal dining room!  Bedrooms are carpeted for your comfort!"  Back up to 8 active listings in KCCC.

CLOSED IN KING'S CREEK COUNTRY CLUB

This seems incredible to me.  134 King's Creek Circle  listed originally back in April of 2008 (that's 1,288 days ago) for $1,150,000 and had been reduced to $695,000 at the time of contract signing.  It closed  on December 9th for $625,000.  Obviously it was over-priced back in 2008, but by double??  Buyers, there are some great deals out there but you had better hurry.  That makes 6 closings in KCCC this year, 4 of which have taken place in the 4th quarter.  There is one more under contract waiting to close so we could end up with 7 closings this year.

CLOSED IN KING'S CREEK COUNTRY CLUB

Either the deal of the century or a way over priced home to start with.  6 South Fieldway listed originally on June 22, 2007 for $1,950,000.  It closed on November 18th for $890,000 which was the listed price at time of contract signing.  I report, you decide.  Here's a hint though, Seller paid $922,500 for the property back in 1998.

UPDATE ON KING'S CREEK COUNTRY CLUB

  Wow!! lots of activity since I've been laid up.  I'll start with King's Creek and just list the changes in the interest of time and of getting caught up.

Two price reductions....#4 Mitchelmore Court reduced again (the short sale) down this time to $500,000.  Unbelievable considering it came on the market back in July of 2009 for $1,175,000 (prior to going "short").  124 King's Creek Circle reduced also, this time down to $565,000.  The original listing price back on August 23, 2011 was $625,000.

119 King's Creek Circle went under contract (continue to show) on October 27th.  It has been on the market since February of 2010 when it listed for $929,000.  It was listed at $654,000  at the time of contract signing.  27 Patriot's Way closed  on November 3rd for $408,000  or 65% of the original asking price of $629,000.  That makes four total closings for the year so far, with three properties under contract waiting to close and seven active listings.  This is real progress.

UNDER CONTRACT IN KING'S CREEK COUNTRY CLUB

134 King's Creek Circle went "under contract continue to show" status today after 1,288 cumulative days on the market.  It originally listed for $1,150,000 back in April of 2008 but had been reduced several times to $695,000 in order to get it under contract.  That's three properties under contract so far in just October, that's half of the year's production so far.  Maybe KCCC is finally getting noticed.