Buyers that decided to wait it out until the models went up in Dr Phillips newest community Parkside, that wait could cost them 8 percent! Meritage Homes sought after community Parkside held its Pre Sales Event on February 21st and released special prices to the 5 winners of the lottery that was held. Prices started at $386,990 for the Madrid at 2,754 square feet and elevation E to a high of $470,990 for the largest model the Barcelona and elevation N.
Looking at these initial prices from a Realtor’s perspective with over 10 years of experience buying and selling in Dr Phillips they look very attractive, but let’s dig into the numbers.
20 homes sold over a weekend is great in any market and even more impressive in a market that has been through a tough five and a half years of declining home values! Doing some comparisons to see where the value is in Parkside I started with the Madrid model, New home, Tile roof, brick pavers, Granite counter tops and stainless steel appliances at 2,754 square feet at the pre-sales price of $386,990 (for elevation E), all in the heart of Dr Philips Award winning school district.
Comparing the Madrid with recent Dr Phillips homes sold… I have a tile roof home in guard Gated Vizcaya at 3,099 square feet with a pool that sold for $399,000 a couple of months ago along with a pool home right at the Madrid square footage of 2,754 in sought after guard gated Phillips landing that sold for $420,000. Both these sold homes are short sales so not great comparables but will get you in the ball park.
Venezia in Dr Philllips had a recent sale which would be a good comparable for the Tara being build in Parkside. The Tara features 3,598 square feet at the pre-sales price of $420,990 for elevation N. Comparing this model with the recent Venezia pool home, regular sale with 3,686 square feet, title roof, built in 2008 and sold at $610,000 12/28/2012.
Looking at both the Madrid and Tara I would say the Tara would be the better deal, attractive even after an eight percent increase in price.