Mt Prospect in North Potomac

[Anonymous]

Anyone know why the Glen Echo model is now less expensive than the Potowmack? It used to be the opposite.

[Anonymous]

Maybe the demand was higher for that model?

[Anonymous]

What is the delivery time if someone buys now?

[Anonymous]

It’s 10-12 months... there are lots of pandemic delays due to labor, lumbar.., etc. the kitchen cabinets have a lag time of 10-15 weeks. They said it was 5 weeks before the pandemic.

[Anonymous]

Lot 28 (Windmills) has a deposit!!! No available Windmill Lots at this time.

[Anonymous]

Anonymous wrote:What is the delivery time if someone buys now?

We signed purchase contract in early December 2020 and the anticipated delivery date is November 2021. Construction of basement foundation started mid April 2021 and Framing started last week.

[Anonymous]

Fall 2022 for new buyers. Probably later.

[Anonymous]

Do you think prices will go down now that the boom is shifting?

[Anonymous]

Anonymous wrote:Do you think prices will go down now that the boom is shifting?

No chance that prices go down. Perhaps the rate of increase might slow down.

[Anonymous]

When I bought, Toll had said they will never decrease prices…otherwise it would be disadvantageous to early buyers.

[Anonymous]

Anonymous wrote:When I bought, Toll had said they will never decrease prices…otherwise it would be disadvantageous to early buyers.

oh really!! The market is unfortunately dipping. Let's see... hope it improves.

[Anonymous]

I think their approach on pricing is to play with incentives and lot premiums rather than drop the base price...

Anonymous wrote:

Anonymous wrote:When I bought, Toll had said they will never decrease prices…otherwise it would be disadvantageous to early buyers.

oh really!! The market is unfortunately dipping. Let's see... hope it improves.

[Anonymous]

Anonymous wrote:I think their approach on pricing is to play with incentives and lot premiums rather than drop the base price...

Anonymous wrote:

Anonymous wrote:When I bought, Toll had said they will never decrease prices…otherwise it would be disadvantageous to early buyers.

oh really!! The market is unfortunately dipping. Let's see... hope it improves.

+1

I agree, the incentives are really the "discounts."

[Anonymous]

Actually, it's the builders intentionally slowing down to manage the demand due to the rising costs to build. There is so much demand for Mt. Prospect, I don't see prices coming down and the overall pricing for new homes is up. This article gives more context: https://finance.yahoo.com/finance/news/if-the-housing-market-is-so-hot-why-are-homebuilders-feeling-down-122832246.html

Anonymous wrote:

Anonymous wrote:When I bought, Toll had said they will never decrease prices…otherwise it would be disadvantageous to early buyers.

oh really!! The market is unfortunately dipping. Let's see... hope it improves.

[Anonymous]

Lumber prices have come down substantially (50%). But new home prices have not. I think they will be more flexible in their options pricing vs base price and negotiate more.