Hue Condo Update

Saturday, 09 January 2010 15:41

Triangle Real Estate Market News

The Hue Condominium project, which has been in a holding pattern for a while, had a breakthrough this week and the development is ready to start writing contracts.

The developer and sales team have made progress has been made on a couple of fronts– some financing options for buyers have finally been developed including an FHA option at 3.5 percent down.  Buyers will be unable to close until they hit the communities presale requirement, but the developer is moving forward with an early occupancy program, where a buyer can move in as soon as next month and rent the unit from the developer and part of your rent will apply towards your down payment. 

I have been told Hue still has a very solid number of reservations – and the sales team has continued to generate interest from buyers due to the excellent location and price points (now under $150,000 for a studio) but has been unable to move forward with contracts and closings due to the tight lending environment.

If you have any questions about Hue, just give me a call at 919-669-7993 or send me a note.