Gran Paradiso Jet-Fueled Community Growth

As promised in the last blog, the intent here is to put into perspective the growth that Gran Paradiso is in fact experiencing. Last week, the total number of new homes sold/contracted, closed, and underway since reviving the community was 102 between the three builders. That means that an average of 20 new homes per month have begun, with 32 sold just last month. This may not sound like a lot when first considering it, but it actually is. If that average rate remained constant, the entire community would be built out in about 8 years. That alone is a reasonable-to-low timeframe to expect for a community of its size. But, when initially opening a new community, developers can also generally expect that it will take some time for the neighborhood to gain momentum and build both a positive reputation and public faith in its security. People are expected to be wary, considering risks of being the first, the mavericks, of new neighborhoods. Apparently, the solid reputation of Lennar and the steps the organization has taken to assure security in community growth and home values have jet-fueled momentum from the starting gate.

By comparison, the community across the street had a total of 187 single-family dwelling closings/sales for all of last year (according to public records). This would, at first, make it seem that Gran Paradiso would be matched and above-target (20+ per month = 240+ per year, not seasonally adjusted) with the lovely, and long-established, community just across the street. In that 187 number, though, are not just new homes. That number also includes resales and homes that were transferred into trust or "sold" to family members to put estates in order and such, as well as some properties that just otherwise transferred in name only. This shows how truly outstanding the FIRST few months of Gran Paradiso's reopening for new home sales have actually been.

This year, the community across the street also introduced some smaller, and lower price, options to compete with the Gran Paradiso momentum. This includes a one-bedroom with one bath plan for about $165k without any upgrades or view. Honestly, I personally believe that it is an extremely rare individual whose needs are suited by this particular floorplan, but the ability to list a lower starting price does draw in some potential customer attention. Think about this though, that developer is reducing potential new home size, price, and value to remain competitive. That by default can also over time negatively influence the values of the existing homes across the community as a whole. By contrast, Lennar is nearly sold-out of lots on the entire street it opened as designated for their Estate series homes. Additionally, Lennar made available Sam Rodgers and Arthur Rutenberg luxury homes as options within the Gran Paradiso gated community. Arthur Rutenberg Homes currently has some new orders for near million-dollar, tailor made residences to fit alongside the custom homes that were already built in the community prior to the downturn. This extravagant, deluxe segment of the neighborhood only helps to bolster and increase home values for everyone throughout the entire community in the long-term.

The point is, if this is just the beginning, and Gran Paradiso has more traction and momentum yet to gain (as would be the typical pattern for a new community), one can only imagine what the next couple of years have in store. It also means that as more people buy in and see the value, the more that new home prices will be raised. Another incremental price increase was put into effect last week. It is all too likely that there are more looming in the near future, particularly once ground is broken for a community pool. The community outlook is more than just good, and if you are considering a home in this community, there will be no better time than now.

If you are considering purchasing a home in this community, please let me assist you. My services and resources are of no cost to you, and in most instances, I am able to save home buyers some money. I do not work for any of the three wonderful builders in Gran Paradiso. My services and information (including the resources provided at www.GranParadisoVillage.com) are wholly independent of these developers. No other independent professional is more knowledgeable about this community, and enlisting me to assist with your transaction serves to fund these resources to keep them available for you and others on an ongoing basis.

Please, check out my website, and contact me for more information!

Look forward to hearing from you!

Ali

Aileen “Ali” Johnston, MHA

Realtor®, Hoover Realty

Mobile: 941-539-5771

A Gran Paradiso Clubhouse Design Plan