We’ve just closed on two more Fairview and Lovejoy ISD homes. The first property shown below is a good example of what’s happening in Fairview and Lucas. Land has become so expensive, more and more older homes being taken down for new construction. That’s what happened on this property.
Erin Hickman and I were flying the lot for our site when we met the eventual buyer who happened to be driving down the street. Our sign had just gone up and they stopped to see what was going on. They told us they’d been thinking about buying a one acre lot priced at $475K in Tranquility Farms right down the street but was having a little heartburn on it. When we told them this property was listed for $379K it made sense for them to buy it.
While these buyers aren’t aren’t going to be surrounded by million dollar homes in Tranquility Farms, they also don’t have to build a million dollar home. There is no Homeowners Association on this property so they can build the type and size of home they want. Tranquility Farms has some very stringent building standards and that’s one of the reasons it’s so nice. But those restrictions also make those homes very expensive to build.
This trend of tearing down older homes on nice lots will continue as land prices keep escalating in Fairview.
The second one shown below, 1691 Ashcroft Drive in Thompson Springs, backs up to a 29 acre nature preserve with walking trail. If you’re interested in something like this, we have another right down the street at 111 Westin. Very highly finished out and no pool. Here’s the link to that home.