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One of the most important things to success in todays real estate market is to make sure the price is right. Getting it right the first time can save time and money. This is why I like to look at and analyze the data on sales. Knowing what has been selling, at what price, and how long its been on the market gives me a special insight into the market in Middleton Hills. With this blog I hope to share some of that insight in a way that's easy to understand. Please share your thoughts and comments and always feel free to contact me with any questions.

Tuesday, August 30, 2011

Price Change at 6745 Frank Lloyd Wright Ave

The price of the condo at 6745 Frank Lloyd Wright Ave has been reduced from $275,000 to $269,900.

Monday, August 29, 2011

New Listing!

3302 Prarie Glade Rd has been on the market for 9 days and is listed for $574,900.  It has 4 bedrooms, 3 & 1/2 baths and is 3630 square feet.

Friday, August 19, 2011

3728 Pheasant Branch Rd Expired

The listing at 3728 Pheasant Branch Rd expired.  It was listed at $559,900.

Monday, August 15, 2011

Middleton ranked #8 on MONEY's Best Places to Live

Middleton was once again rated as one of the best places to live in America.  There is also a special mention of Middleton Hills (though not by name) and the great concept behind the community.

http://finance.yahoo.com/real-estate/article/113316/best-places-to-live-in-america-2011

Wednesday, August 10, 2011

6767 Frank Llyod Wright Ave. #305 Pending

Condo #305 in Gardd Parc is a pending sale.  It is 1 bedroom, 1 bath, and 1042 sqft.  The list price is $179,900.

Monday, August 8, 2011

Lot Sales Since 1997

This information was based only on data from the MLS and accessdane.


Year
Address
Purchase Price
Acreage
2011 Assessment
Avg Annual Change in Value
1997
3301 Glacier Ridge Rd
$34,900
.12
$92,600
11.8%
1997
3316 Prairie Glad Rd
$56,905
.22
$122,800
8.3%
1999
3320 Hackberry Ln
$39,805
.10
$94,800
11.5%

3321 Hackberry Ln
$39,805
.12
$101,900
13%

3316 Hackberry Ln
$40,800
.11
$97,500
11.6%

3312 Hackberry Ln
$40,800
.12
$99,400
11.4%

3317 Hackberry Ln
$41,900
.13
$106,300
12.8%

6818 Frank Lloyd Wright Ave
$46,455
.16
$137,700
16.4%

3313 Hackberry Ln
$47,405
.16
$137,800
15.9%

6814 Frank Lloyd Wright Ave
$48,900
.17
$138,600
15.3%

6822 Frank Lloyd Wright Ave
$48,900
.16
$136,500
14.9%

6826 Frank Lloyd Wright Ave
$48,900
.16
$136,400
14.9%

3325 Hackberry Ln
$48,900
.19
$120,100
12.1%

6753 Black Cherry Ln
$49,900
.13
$116,800
11.2%

6810 Frank Lloyd Wright Ave
$54,900
.17
$152,100
14.8%

3308 Hackberry Ln
$54,900
.20
$133,400
11.9%
2000
3513 Strawberry Loop
$39,500
?
?
?
2001
6832 Erdman Blvd
$64,900
.14
$132,500
10.4%
2002
6809 Erdman Blvd
$68,562
.18
$141,100
11.8%
2004
6977 Apprentice Pl
$59,900
.12
$99,800
9.5%

Lot 318 Ramsey Rd
$77,500
?
?
?
2005
6745 Phil Lewis Way
$92,500
.19
$117,500
4.5%

6939 Harmony Way
$68,900
w/ home 384,909
.12
$98,900
7.2%

6736 Ramsey Rd
$85,000
w/home 471,102
.13
$105,800
4.1%
2006
3736 Pheasant Branch Rd
$150,000
.19
$142,400
-1%

3740 Pheasant Branch Rd
$150,000
.19
$142,700
-1%

3760 Pheasant Branch Rd
$199,000
?
?
?
2007
3620 John Muir Dr
$140,000
.15
$111,600
-5.1%

3732 Pheasant Branch Rd
$150,000
.26
$159,300
1.6%

3332 Glacier Ridge Rd
$165,000
.16
$171,000
1%

3543 John Muir Dr
$185,000
.32
$156,300
-3.9%
2008
3340 Glacier Ridge Rd
$139,900
.11
$142,700
1%
2011
6825 Ramsey Rd
$164,900
.14
$132,500


6853 Ramsey Rd
$172,000
.15
$136,300


*Data compiled based on MLS figures.  Please note that many sales were not recorded in the MLS.
Property values have skyrocketed since the beginning of the decade.  Since that time most have increased well over 10% annually.  Toward the middle of the decade fewer lots were available and the price buyers were willing to pay increased dramatically.  Most of these purchases were for well above the assessed value of the lots.  The fact that earlier lot sales saw purchase prices only slightly above or near the assessed value combined with the increased demand and decreased availability of lots led to the dramatic difference in appreciation shown in the table above.  However, recent sales also prove that today’s buyers are willing to pay above and in some cases well above the assessed value of land.  So while assessments have fallen flat, maybe demand has not.  Another factor is the neighborhood association.  They have been controlling the pace of growth through the Middleton Hills master plan. The neighborhood is now in the 8th and final phase of residential development.  The re-plat of the sixth phase added residential lots to Ramsey Rd.  So far 5 have sold, one has an accepted offer, and six more are for sale. Of the 15 lots along Glacier Ridge Rd, 7 have sold and two more are currently for sale.  Six additional lots have yet to be listed.  These remaining lots have a prime location with incredible views and I expect they will sell for a premium.