By: Daniel Benson; Belfiore Real Estate Consulting
After experiencing extremely strong home sales in the first Phase of Desert Wind Villas, Taylor Morrison now has more lots to sell located in Phase 2 of the community. According to public record (click here to view the affidavit), Taylor Morrison closed on an additional 26 – 45’x115’ preliminary platted lots on July 16, 2014 for $1,560,000 ($58,654 per lot / $1,333 per front foot). The site currently has a recorded final plat for 36 – 40’x85’ lots, but Taylor Morrison has worked to replat the site to accommodate the 26 – 45’x115’ lots.
On Belfiore’s initial survey (April 28, 2014) of Taylor Morrison’s first phase of Desert Wind Villas, the builder reported it had sold all 27 homes in the community after only beginning presales on February 1, 2014. Most of the new home communities in the competitive market area are built on small, non-traditional lots or are attached homes, and Taylor Morrison benefited by being the only active builder providing a traditional single-family detached community.
According to public record (click here to view affidavit), Taylor Morrison purchased the first phase of Desert Wind Villas on April 30, 2013. The deal included 27 – 45’x115’ preliminary platted lots and closed for $1,155,044 ($42,779 per lot / $951 per front foot). Taylor Morrison also replatted these lots from 36 – 40’x85’ lots into the 27 – 45’x115’ lots.
