Lake Hills Reserve Real Estate Update - July 2012 provides current information for buyers and sellers interested in the 750 acres of a masterplanned mountaintop community. Nestled among the rolling hills this community offers panoramic city views, beautiful sunsets and glimpses of the sparkling blue waters of Lake Mathews.
This is a beautifully designed community which includes 500 acres of reserved green space, parks and hiking trails. The HOA fees support an Olympic size pool, picnic area and pavilion with fire pit.
Active Listings: 10 (8 Standard Sales - 5 are new construction - 2 Short Sales)
Pending Sales: 8 (3 Standard Sales, 5 Short Sales
Closed Sales: 2 (1 Short Sale, 1 Standard)
Average price $394,475 Average price per square foot $117
What does this mean for you?
The active listings reflect an increase in the number of Richmond American Homes at Cielo entering the market. Savvy real estate investors often follow the lead of builder's. The builder's spend a lot of money on reports and research providing information buying and selling of their homes. Richmond is releasing a larger number of homes and have shown price increases which improves the value of homes in the Lake Hills Reserve.
Of the two closed homes last month the standard sale was a new construction home which sold for $429,000. The home has 3053 square feet with a 15,682 square foot lot (larger than the average lot.) Price per square foot - $140.
However following the path of new home construction can be a tricky business. If you are considering selling your Lake Hills Riverside home the assistance of an experienced Realtor is recommended. I suggest visiting the model homes, they are a big part of your competition, notice the pristine condition of a brand new home. Carpets are new, windows sparkle, curb appeal invites you into the home.
A current active listing (listed at $600,000) will help to increase the value of the neighborhood, depending on the final negotiated sales price.
Understanding the current fair market values, one tool is to utilize my Lake Hills Reserve Real Estate Update, will assist buyers and sellers to make informed decision.
Call me for a buyer or seller consultation, I would enjoy assisting you!