If you are looking to buy into a new subdivision, make sure you do your homework.  As construction costs go up and housing sales slowdown some subdivisions are  just stopping construction. These stalled subdivisions are leaving a blighted neighborhood in their path, with empty lots and scraped land dotted with the occasional home.

This article in the Detroit News shows the problem being faced up in Michigan with stalled homes.

But it wouldn’t fix the problem. Stalled subdivisions are becoming an increasing part of the landscape across Metro Detroit amid a slumping housing market for single-family homes and condominiums, threatening increases in property values and quality of life for neighbors.
As builders such as Neumann Homes auction new houses and struggle with plots that aren’t selling, residents are coping with empty lots and blight. They cope too with envy, as neighboring homes built after the housing-market bubble burst are selling for much less.
“It’s probably been the worst year I’ve ever seen in my life,” said Anthony Sorrentino of Clinton Township-based Sorrentino Development. “It’s like the whole world completely stopped.”
New home construction has fallen 44.3 percent across the region compared to last year as customers are wary or unable to sell their current homes. One builder called it the worst market he’s ever seen and conditions are triggering construction delays and, in some cases, leaving brand new homes next to empty lots and barren blocks. via The Detroit News Online.

Related posts:

1. Zombie Subdivisions – The Living Dead of the Real Estate Market
2. New Construction Seen At Bottom, Opportunities Arising For Builders
3. Construction Jobs Down 13 Percent From Last Year