The Maricopa residential real estate market is currently strong, and strengthening thanks to the mayor and the City Council’s vision and efforts to see through the completion of the overpass. That new corridor through the city has already incited more commercial development and will continue to encourage more business as well as opening up new transportation corridors, changing the way we all move around town. For those of us who have been in “the Copa” for a while now, we are much appreciative.
Maricopa offers so much in terms of home values and city amenities that buyer demand has been strong all year, and that is evident in all subdivisions but maybe no more so than in Maricopa’s only 55+ subdivision of Province. The original developer of Province, Engle Homes, sold to Meritage in 2009 and since then Meritage has done a magnificent job of building out and developing the subdivision, and they are soon to be opening up the northeast corner which will be their last area to develop.
In fact, the Meritage sales office has been so busy they only have one new model left for sale on the signature street of Festival. Meritage now offers three styles of homes to choose from — the Preserves, Retreats and Estates — and they no longer offer the Villa. In fact, just one new Villa remains unsold and when that is sold there will be no more new construction, so this fact will definitely be of help to current owners of Villas when they go to market their home.
The Preserves are all move-in-ready homes as everything will be completed so the new owners will not have to spend time in the design center. The Retreats offer five different floor plans and allow the home owner to select their own finishing interior touches, while the Estates are all on larger lots and offer a wide range of opportunities for the new owners to customize their home.
In total, 1600 homes have been sold in Province since inception and the final Phase 3 will add 500 more homes. Since the first of the year, Meritage has sold 73 new-build homes and to put that in perspective, 93 resale homes have sold in the same time period, so the new-build homes are certainly competitive in price and offer new home warranties. So if you are considering listing your home in Province be mindful of the new-builds and learn how to sell off of them. Resale homes offer their own unique features that new builds do not, so market those features to maximize your equity.
Remember when it comes to your home … don’t half asset. Have another great week.