Belfiore Real Estate Consulting
Richmond American has opened three new communities in Laveen since late May, purchasing lots in the partially built out Laveen Farms (aka Trailside Point), Roger’s Ranch, and Paseo Pointe. The builder is offering a diverse line-up with homes ranging in size from 40’ wide to 65’ wide, 1,900 square feet to 3,500 square feet, and on lots as small as 49’x87’ to lots as large as 80’x120’. Public records show the builder bought into its current positions in late 2012 and early 2013 at a cost of $636 to $725 per finished front foot (all lots were finished). Many of Richmond’s offerings in Laveen are priced in the low and mid- $200Ks. Belfiore Real Estate Consulting President, Jim Belfiore, suggests Richmond’s buys seem to be good ones, “Laveen, and re-emerging market areas like it, will only strengthen over the next twenty-four months as the market recovery hastens. The potential buyer pool within is large and becoming healthier.”
