Founders Way Condos Proving Popular With Buyers


Founders Way Condos Proving Popular With Buyers
By Scott Rogers • January 13, 2011
Full Disclosure: I represent the developer of Founders Way. Harrisonburg home buyers haven't had too many condo options to choose from in the recent past if they actually wanted to live in the condo.... Hunters Ridge, Madison Manor and University Place are all student condominiums, but are primarily sold and purchased as investment properties -- primarily for college students. Millwood Condominiums on Mosby Road started off as condos for owner occupants, but more and more were purchased by investors, or kept by the developer. Owner occupant financing is now difficult for these properties because there are not enough owner occupants in the community. Urban Exchange, home of 194 apartments (studio, 1 BR, 2 BR, 3 BR) in downtown Harrisonburg was to be developed as 96 apartments or rent and 98 condos for sale -- but the market intervened. Renters were significantly more interested than buyers in committing to Urban Exchange, and the sales process was being pursued at a time when condo financing was quite difficult to obtain. Now, however, there is a new option in town --- Founders Way Condominiums. The condos at Founders Way feature 2 or 3 bedrooms, and start at only $142,900 (see all pricing). These newly built condos feature upscale kitchens, an open floor plan and spacious master suites -- think hardwood laminate floors, granite countertops, contemporary lighting fixtures, nine foot ceilings, decorative archways and colonnades, etc. Oh, and quite a few of these new condos are selling! The community will eventually consist of 72 condos -- but for now the first building of 12 has been constructed, and the condos are at various stages of completion. Of the twelve condos in the first building at Founders Way.... two condos have sold and closed five condos are under contract one condo is being used as the model only four condos remain for sale in the first building Again, I may be slightly biased here, as I represent the developer --- but I think you'd be excited to see this new option for home buyers in Harrisonburg. Let me know if you'd like a tour of Founders Way --- I'd be happy to meet you on site. You can reach me at 540-578-0102 or scott@HarrisonburgHousingToday.com. Receive Updates by Email Recent Articles: OK, False Alarm, Most Homes Are Still Selling Very Quickly How Quickly Are Homes Selling These Days? Middleburg at Stone Spring, To Include Up To 500 Apartments, Proposed Adjacent To The Reserve At Stoneport A Rough Two Years For Rising Mortgage Interest Rates Home Buying Activity Will Slow But Not Stop Over The Winter Demand Is Likely To Keep On Rising For Contractors And Home Renovators Update On City Of Harrisonburg Townhouse Market Trying To Buy A Home... A Story Of Being All In, Then Bowing Out, And Now Being Ready To Jump In Again Sometimes Upgrade Your Home (Selling And Buying) Results In An Even Larger Upgrade In Your Monthly Payment Despite Fewer And Fewer Home Sales, There Are Plenty Of Reasons Why Buyers Will Still Buy And Sellers Will Still Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Dec 11, 2023 (unless otherwise noted).
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