Hargett Place, Inc. Greg Paul Builders OVERPRICED, RIPOFF, MISREPRESENTATION, BE CAREFUL Raleigh North Carolina

Do NOT BE LURED IN !!  Calculate the price per sqaure foot that you will be paying.  The Developer and Builder are making a fortune on this property at these prices.  Know the facts before you sign the dotted line.  The owners of the land purchased the property for $2.45 million (per Wake County Register of Deeds).  The defelopment will consist of 19 townhomes.  So, even if you allocate the entire land cost to just the 19 units and not allow any value for the common space, each townhouse lot would have a value of around $129,000.  The developer had very litte work to develop the sight for the units - no buildings to knock down, etc.  Most that could be attributed per lot:  $25,000.  Then build cost - High end fniishes are being used but at 1750 sq. feet to 2260 sq. feet, at best $300K to build, $350K if you really push it.  Basically $450K to $500K tops for total cost.  Their pricing:  $700K to $920K !!! Someone is getting very rich !  Where in Raleigh is their price closing to $400 per square foot.  Does NOT exist.  Be careful.  Do not pay these artificually inflated prices.  The marketplace will cause them to offer more reasonable prices. 

ALSO, be careful to look at the build materials.  The roof top decking will be a maintenance nightmare.  The insulation between units not substantial - you will hear your neighbors. No parking is provided other than in your driveway and garage.  What will happen when people start parking in the small common space.  For the buildings facing S. East Street - Watch for the cemetary ghosts when you try to resell it.  Also, there is low-income subsidized housing on the corner !!  Crime.  Poor resale.  Don't be fooled by the glitz and glamour.