Lake Hills Reserve Real Estate October 2011
The Lake Hills Reserve is a 750 acre masterplanned community nestled in the mountains of Riverside. Conveniently located near the 91 & 15 freeways providing easy access to Orange County and Los Angeles. Panoramic city views, rolling hills and 500 acres of dedicated open space are features of this beautiful community. The community consist of homes built during two different time periods. Older homes built from 1985 and newer construction built during 2004 forward. This report is based on MLS data for newer & new construction homes.
Active Listings: 11 (6 Short Sales - 2 REO's - 3 Standard Sales)
Pendings: 7
Closed Sales: 2
New Construction: 4
Average price per square foot: $112 Average Price: $414,000 Average Days on Market: 145
While touring the Lake Hills Reserve for new listings the foggy morning slowly dispersed as the rays of the sun burned through the pea soup haze. A new listing was generating a buzz. A standard sale on a large corner lot this home offers a Tuscan exterior with a stone facade and turret. Extensive upgrades are evident throughout the home - granite counters, stainless steel appliances, etc. This home should generate multiple offers quickly.
Richmond American Homes has a new single story back on the market (Single-story homes are often requested but due to building cost are rare.) The 180 degree view is spectacular, while the lot backs up to open green space of the undulating hills. The warranties offered by builders are definitely a value-add feature to be considered.
What does this mean for you?
Sellers: the peak buying/selling season has passed however as proven by the two new listings sellers continue to list homes during fall into the holiday season. But it is important to show your home in the best possible light to generate the best offers. Curb appeal, fresh paint, clean carpets, decluttered and depersonalized are minimium standards to be met by eager sellers.
Buyers: have the opportunity to purchase two single story homes; a resale home offering wonderful upgrades (fireplace in the master bedroom) and a brand new construction home with unbelievable views.
If you would like additional information about these homes or others in the Lake Hills Reserve give me a call. I assist buyers and sellers in the Riverside area.
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