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.
Look forward to hearing from you!
Ali
Aileen “Ali” Johnston, MHA
Realtor®, Hoover Realty
Mobile: 941-539-5771
 |
| A Gran Paradiso Clubhouse Design Plan |
