In the piece I did yesterday I mentioned that Villa Milano at Rancho Sin Vacas has been slow to get off the ground.
I was reminded of Villa Milano, and wrote about it because it came up the day before in a conversation with a client friend of mine about Foothills real estate and opportunities and what's happening, etc.
So I went home, did a little research and wrote that piece. And I ended that post saying that since prices had come down recently in Villa Milano, sales had picked up a bit, and that maybe things were changing (for the better). I spoke too soon.
Because in a strange and coincidental twist, while I was busy writing about the recent sales and lower prices at Villa Milano, the folks
at Villa Milano were busy (making a liar out of me) raising prices.
I found out when I checked the MLS this morning and Villa Milano showed up with price increases on 12 of the new builder units-
after I just got done applauding them. Imagine that!
Here are a few examples of what they did.
They raised them from
$675,000 to $751,730
$710,000 to $758,650
$535,000 to $617,250
$710,000 to $758,650
$545,000 to $629,660
$560,000 to $632,520
$550,000 to $632,520
$675,000 to $722,520
So now the 12 units they raised prices on are listed for an average of $349.50/sq. ft. And the four units that sold in the last six months- sold for an average of $224.82/sq. ft. See anything here that doesn't quite add up. And by the way, none of those recent sales were builder units. They were all re-sales.
Makes you wonder what they're thinking. Or if.
Are they so giddy about the few recent sales they believe things are now on a big upswing and it's all hats and horns from here on out.
Who knows. So I take back everything I said yesterday about Villa Milano. It does look like things are changing, just not for the better.
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