Mt Prospect in North Potomac

[Anonymous]

Anonymous wrote:So we can ask for structural upgrades to be discounted BEFORE we sign?

You can ask, sure! I personally would not sign until I've asked for a discount. If it's a cherry on top kind of thing, it won't affect be signing it. But if it might make a difference, I'll let the builder know and see if they can negotiate. But, I wouldn't ask for individual upgrades - builder would probably just offer a discount on everything rather than individual upgrades. But, I don't know TB.

That said, is Hanson farm still working on a mid summer time table? I drove by recently and saw 3 homes that are probably close to being done (I'm guessing another 1-2 months).

[Anonymous]

They're going to have to come down on price. People just aren't into living out there as much these days as they did back in its heyday in the 80s.

[Anonymous]

Anonymous wrote:They're going to have to come down on price. People just aren't into living out there as much these days as they did back in its heyday in the 80s.

They've already come down in price before officially releasing these latest prices. They don't lower them again and FWIW, I think it's priced fine. Houses in that neighborhood are mostly in the 1m+ range.

That said, I wouldn't be surprised if TB keeps the current prices but heavily incentivizes folks to purchase (i.e. "we'll finish your basement if you sign here!").

[Anonymous]

Anonymous wrote:

Anonymous wrote:They're going to have to come down on price. People just aren't into living out there as much these days as they did back in its heyday in the 80s.

They've already come down in price before officially releasing these latest prices. They don't lower them again and FWIW, I think it's priced fine. Houses in that neighborhood are mostly in the 1m+ range.

That said, I wouldn't be surprised if TB keeps the current prices but heavily incentivizes folks to purchase (i.e. "we'll finish your basement if you sign here!").

Looking at their other properties (Linden Farms and Mehr), they are not offering incentives or price reduction at this time, so not sure if that will happen. Given the limited number of people that have bought at these places I’m hopeful they will come down on price. While it’s “normal” for this area to be 1M+, it’s not during these times and certainly not while redistricting is on the table. When I called and asked, I was told the Palatine will be around 1.5M and that’s without lot charge and structural upgrades along with design center costs. This would mean the model home is around 2M+ which is absurd given the economic and educational unknowns.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They're going to have to come down on price. People just aren't into living out there as much these days as they did back in its heyday in the 80s.

They've already come down in price before officially releasing these latest prices. They don't lower them again and FWIW, I think it's priced fine. Houses in that neighborhood are mostly in the 1m+ range.

That said, I wouldn't be surprised if TB keeps the current prices but heavily incentivizes folks to purchase (i.e. "we'll finish your basement if you sign here!").

Looking at their other properties (Linden Farms and Mehr), they are not offering incentives or price reduction at this time, so not sure if that will happen. Given the limited number of people that have bought at these places I’m hopeful they will come down on price. While it’s “normal” for this area to be 1M+, it’s not during these times and certainly not while redistricting is on the table. When I called and asked, I was told the Palatine will be around 1.5M and that’s without lot charge and structural upgrades along with design center costs. This would mean the model home is around 2M+ which is absurd given the economic and educational unknowns.

Not for nothing but there are other homes in the area that go for $2m+. Besides, I Drove up to the palatine model and it’s a monster. I can see $2m being the market value for it. I don’t think there will many of those. The question is whether or not the lesser 2 models (1-1.2m) will sell and how easily.

[Anonymous]

What would be a reasonable discount on a 1+M home? Like is 50k (in upgrades, design center, closing etc) a “good deal” or would it typically be less/more?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They're going to have to come down on price. People just aren't into living out there as much these days as they did back in its heyday in the 80s.

They've already come down in price before officially releasing these latest prices. They don't lower them again and FWIW, I think it's priced fine. Houses in that neighborhood are mostly in the 1m+ range.

That said, I wouldn't be surprised if TB keeps the current prices but heavily incentivizes folks to purchase (i.e. "we'll finish your basement if you sign here!").

Looking at their other properties (Linden Farms and Mehr), they are not offering incentives or price reduction at this time, so not sure if that will happen. Given the limited number of people that have bought at these places I’m hopeful they will come down on price. While it’s “normal” for this area to be 1M+, it’s not during these times and certainly not while redistricting is on the table. When I called and asked, I was told the Palatine will be around 1.5M and that’s without lot charge and structural upgrades along with design center costs. This would mean the model home is around 2M+ which is absurd given the economic and educational unknowns.

Agreed, but what if schools change? Strong possibility that this area becomes QO...if you buy a 2M house and then schools change, not only will your value drop, but so will the price of the next guy buying. They would have to drop the price which screws the person who bought earlier. They need to factor in the uncertainty. Remember, there are 3 phases...even if schools stay the same, 1.8M+ (all in for Orchard Collection after lot fee, upgrades and design center) is at the top of the market. Prices always rise with new phases...no room to go up as they are already hitting the top with phase 1. The fact it’s even called “Orchard” for Quince Orchard is a little disconcerting for me. Would psychologically feel better if it was called the “Wootton Collection”. Almost as though Toll knows something we don’t.
Not for nothing but there are other homes in the area that go for $2m+. Besides, I Drove up to the palatine model and it’s a monster. I can see $2m being the market value for it. I don’t think there will many of those. The question is whether or not the lesser 2 models (1-1.2m) will sell and how easily.

[Anonymous]

Agreed, but what if schools change? Strong possibility that this area becomes QO...if you buy a 2M house and then schools change, not only will your value drop, but so will the price of the next guy buying. They would have to drop the price which screws the person who bought earlier. They need to factor in the uncertainty. Remember, there are 3 phases...even if schools stay the same, 1.8M+ (all in for Orchard Collection after lot fee, upgrades and design center) is at the top of the market. Prices always rise with new phases...no room to go up as they are already hitting the top with phase 1. The fact it’s even called “Orchard” for Quince Orchard is a little disconcerting for me. Would psychologically feel better if it was called the “Wootton Collection”. Almost as though Toll knows something we don’t.

[Anonymous]

I hope they give good discounts or decent base price inclusions (like wolf or subzero) otherwise this will get pricey for the area

[Anonymous]

Anonymous wrote:I hope they give good discounts or decent base price inclusions (like wolf or subzero) otherwise this will get pricey for the area

I don't really think you're going to get this kind of upfront discounts. I think to start, it will be in the form of closing cost credits, and/or maybe an option credit.

That said, this is a curious market especially during the summer as covid continues to linger and the election coming up in the fall. I am curious if TB will do a lot of upfront incentives for buyers who would be the first to purchase. My gut says they'll offer some discounts but not what everyone is expecting since this is a multi year project and theoretically they have time to ride out this dip/uncertainty in the market. besides, I think generally speaking, most incentives start pouring in only when the last units of a particular phase are trying to get sold. JMO.

[Anonymous]

What is a reasonable upfront incentive for this price range? They always give like 10k towards closing if you use their lender, so I don’t count that as incentive. Maybe 50k in upgrades and 30k towards design center? Too much or too little?
Also wonder what the lot premiums will be. Same models are around 750k (Renwick also known as Rowling) in other communities so if they are selling same house for 1.3, hopefully the 500k difference includes the lot premiums. Not sure though, new buyer looking, no experience in whether this is how it works or not.

[Anonymous]

I wish Palatine had a Grand Multigenerational suite option. It would be a complete family compound!!

[Anonymous]

Anyone have direct experience with Toll? While I can find a TON of negative comments about quality, reliability and workmanshift, there isn’t much positive praise. I know everything can have a horror story, but it’s like seeing a 1000 1 star yelp review for a handful of 5 stars. Is it really that bad? I’m getting cold feet if the developer isn’t reliable. Thoughts?

[Anonymous]

Anonymous wrote:What is a reasonable upfront incentive for this price range? They always give like 10k towards closing if you use their lender, so I don’t count that as incentive. Maybe 50k in upgrades and 30k towards design center? Too much or too little?
Also wonder what the lot premiums will be. Same models are around 750k (Renwick also known as Rowling) in other communities so if they are selling same house for 1.3, hopefully the 500k difference includes the lot premiums. Not sure though, new buyer looking, no experience in whether this is how it works or not.

My thoughts are there 2 sets of lot premiums built into the prices. One is the premium associated with general location (Potomac vs Clarksburg). That represents the larger premium. The other premium is associated with location within the site.

Anonymous wrote:Anyone have direct experience with Toll? While I can find a TON of negative comments about quality, reliability and workmanshift, there isn’t much positive praise. I know everything can have a horror story, but it’s like seeing a 1000 1 star yelp review for a handful of 5 stars. Is it really that bad? I’m getting cold feet if the developer isn’t reliable. Thoughts?

I've also heard varying things. I think TB has a shaky rep for those lesser developments but for more premium developments, it's a bit more positive. But, you're right - their rep is all over the board.

[Anonymous]

I was hoping the Orchard Collection allowed for more structural options