Little Egg Harbor's Winding Run Development - An Interesting History

Little Egg Harbor’s Winding Run Development

The history of the Winding Run development in Little Egg Harbor at the Jersey Shore is an interesting one.

Kara Homes began construction at the height of the housing market. At times it seemed like the price point for these homes was increasing monthly. The sale price for these new homes topped out at almost a half million dollars.

The bottom fell out for Kara Homes, a New Jersey based development company in 2006, and they declared bankruptcy. That was the beginning of the housing market decline in southern Ocean County.

The uncompleted homes were finished by another builder. But many Winding Run buyers, whose homes were not started, lost big.

The undeveloped portion of the small Winding Run development was then sold to Ryan Homes. Ryan built and offered their own models. Those homes are smaller and were priced far below other new homes in the area.

This has caused problems for home owners of Kara built homes, because along with the overall decline in home prices over the last several years, new homes could be had for far less. The result is short sale and REO’s.

There are currently 5 homes actively being marketed in Winding Run. They are priced from $290,000 to $370,000.

As a result of Kara bankruptcy the roads are not properly paved and storm drainage system in the development is inadequate. Little Egg Harbor has already claimed the Kara performance bond.

It’s unknown if or when or if the Township of Little Egg Harbor will step in to remedy the situation.

If you’d like more information on homes for sale in Little Egg Harbor at the Jersey Shore, contact Little Egg Harbor Realtor® Laura Giannotta at 609-384-6121.