Hasentree foreclosure, Wake County, NC

Hasentree is slated for the auction block, golf course and all...

We have seen other Triangle subdivisions in trouble, either being offered for sale in entirety, or all the lots being offered for sale, or model homes on the market long before they had outlived their marketing usefulness to the builder.

The December 3, 2008 Cary News has legal notice that Hasentree properties will go on the foreclosure auction block at the Wake County Courthouse at 10:00AM on December 19, 2008.

This is also confirmed in the Triangle Business Journal last week and in Saturday's Raleigh News and Observer.

Hasentree was to be 650 luxury homes, from just under $1 million to over $4,000,000, and was kicked off with a multi-million dollar marketing campaign that included flying potential buyers over the development, including the Tom Fazio golf course, in complimentary helicopter tours.

34 homes remain for sale, and the luxury home market has been notoriously slow over the course of 2008 anywhere in Wake County.