(Disclosure: Rose Law Group represents Meritage Homes at Archer Meadows.)
By Mike Sunnucks | Rose Law Group Reporter
The housing market continues to hum both regionally and nationally thanks to historically low mortgage interest rates.
Those low rates are driving demand and allow buyers to afford more.
Regional real estate expert Jim Belfiore said one East Valley development is upping its game when it comes to amenities and that is generating strong sales.
Belfiore said Meritage Homes’ Archer Meadows community in the San Tan Valley started sales in April — amid the coronavirus pandemic — and is averaging 48 sales per month.
“That’s a lot of sales. They opened for sales April 23. That’s phenomenal, said Belfiore, who is president of Belfiore Real Estate Consulting in Phoenix.
Belfiore said Meritage has built a clubhouse and an outdoor pavilion with gas grills as well as large playground area for residents. “It’s super nice. They are being rewarded by the marketplace,” he said.
Belfiore said most subdivisions in outlying suburban markets have traditionally not offered significant amenities. “If you are going to develop a new community it is going to be infrastructure light,” Belfiore said of most residential developments in outlying submarkets.
But he said the sales success for Meritage at Archer Meadow could encourage other builders to up their game when it comes to amenities in farther out suburbs. “More developers and builders are likely to jump on the bandwagon,” Belfiore said.
The homes at Archer Meadows range between $271,000 and $374,000 with square footages between 1,200 and 2,575 square feet.