Providence Downs South. Union County, NC

Ahhhh.... Beautiful Providence Downs South. One of the most majestic luxury communities near Weddington, NC. With roads named after some of the more famous horses like Giacomo Dr, Smarty Jones Dr, Funny Cide Dr, Strike the Gold Ln and Sir Huon Ln. The most discriminating buyer will find something here they will enjoy.

Home sites start around $199,900 where you can hire some of the best builders in Charlotte like Arcadia Homes, Avallon, Holevas & Holton, Stylecraft, Persis-Nova, or Trident builders to name a few, and start living within a resort style estate community.

The Gated entrance lets you know there is something special in this neighborhood. Extra wide streets, Tennis courts, A large beautiful Clubhouse, Exercise cabana and wooded estate lots, but if your a Realtor in the Charlotte area, you know that Providence Downs South has had it's fare share of losses.

I was approached by a builder back in February when most listings were over the 1Million dollar price point. I'm not going to mention any names but he had an agent representing 2 of his homes for quite some time and he was interested in switching when the contract expired later that month. I, of course, said I could chat about a future contract with him and took a tour of the homes. He asked me ar what price I believed the houses would sell at. I know this community very well and have been tracking it's progress for quite some time. I never took a listing here because of the length of time the homes remain on the market and the inflexibility of the sellers. This builder was no exception. I gave him a range somewhere around $400,000 less than what he was asking for.

Yes. Our tour ended there and he never asked for me to take his listings, but I was going to stick to that figure never the less.

Jump ahead a few months to May. The market is really getting bombarded by the housing cirsis and prices in this community are starting to drop like flies, 3 and 4 listings per day, just so builders can stay afloat; but alas there are still no sales.

Today. July 13th there are 55 active listings here, one of which is a whopping 12,000 square foot, to be built, estate with a staggering $3,495,000 price tag. This is not the builders home I was speaking about. His homes have been humbly reduced to a little over $850K & $950K with the same agent and now at over 700 days on the market.

There IS light at the end of this sad story. In the past 3 months there have been 8 sales ranging from $700,000 to a little over $950,000. Can I see the future? heck no, I just proved that if you watch a community for long enough you can be ahead of the curve, and that's the name of the game so few Realtors seem to grasp.

Providence Downs South may have been stagnant, but seeing this recent activity, I believe it may be high time to start taking a listing or two here....