The housing market in the Redlands is almost as hot as the daytime temperature, with new home construction leading the way. Subdivisions that were introduced in 2018 continue to forge ahead with sales and new filings.
The second filing of Granite Falls, a 104-lot subdivision with incredible views of Colorado National Monument off South Camp Road, recently completed its second filing, bringing 29 more lots to the market. Although eight lots are already under contract, there are still 21 remaining. There were 31 lots in the first filing, and 19 homes are out of the ground. Two homes are finished and sold, with homeowners living in the subdivision.
Multiple builders are working in the subdivision, including Canyon Vista Construction, Lopez Construction, B & B Custom Homes, OnTrack Builders, Lannie and Rund, J. Howell Builders, Bishop Construction, Canyon Creek Builders and Alegria Homes.
Lot sizes are generous at Granite Falls, and most homes are also comfortably-sized, between 2,200 and 3,000 square feet, with builders doing both three- and four-bedroom homes, usually with three-car garages.
Those who are interested in a new home in the Redlands, but who would also prefer to be in a smaller subdivision, might be interested in Sienna Creek, an eight-lot subdivision off 20 1/2, just north of Broadway. Lots are generous, ranging from a quarter-acre to half-acre, and there is a year-round, natural creek that runs through a corner of the neighborhood. Thanks to nearby water, there's also vegetation and trees, and the developer left many of the large trees in place. It's not uncommon to see wildlife wander through the subdivision, either.
Cairn Homes has two lots in the subdivision, with one home currently under construction and available for sale. The home, which has four bedrooms and two baths in more than 2,200-square feet, is listed for $499,900.
Mike Queally is the listing agent for Cairn Homes, as well as the remaining lots in the subdivision.
Dahl Built Homes also has two lots in the subdivision and is building spec homes on both lots. The first home is in the framing stages, and it will have four bedrooms and three baths in about 2,400-square feet. Danny Kuta with RE/MAX 4000 is listing the home for $559,888, and it should be finished by the end of September.
Independence Estates, a 47-lot subdivision, is about half a mile from the Sienna Creek development, and also features multiple builders building on lots that are generally 9,000 square feet or bigger. The first filing at Independence included 18 lots, and the second filing has already been submitted to the county. Ron Abeloe, who is the developer of the subdivision and who is also building a home in the neighborhood, hopes to have additional lots ready for construction in late winter/early spring of 2020.
Home construction continues at Redlands Mesa Golf Course. Lots continue to sell at Ventana, a micro-neighborhood within the golf course community that came to the market in 2018. There are 23 lots at Ventana, and 12 are still available. Prices start at $85,000.
The golf course community is in the process of bringing Bella Mesa, a different micro-neighborhood of 16 lots, to the market. Curbs, gutters and sidewalks are in, and road paving should happen this week. According to Brad Higginbotham, the listing agent for many of the lots at Redlands Mesa, the golf course community has seen 35 new homes built every year for the past three years, and is on track to do about the same this year.
The Peaks at Redlands Mesa, a townhome development that sits on the golf course at Redlands Mesa, continues to sell well. When complete, there will be 11 four-plex townhome buildings, with two-, three- and four-bedroom homes available. Each unit has rooftop patios and multiple levels, with great views of the golf course. Elevators are available in some units. Right now, there are eight units available and ready to sale, with prices starting in the upper $300s, which is a great introduction to living at the Redlands Mesa Golf Course Community.
There are several other developments with building lots available, including Fairway Villas near Tiara Rado Golf Course, which is almost built out, Pinnacle Ridge, which was just brought to market this year, and Red Rocks Valley, where Conquest Construction owns lots for lock-and-leave home sites. Other developers have begun conversations with the city about projects, but nothing has been submitted at this point.
In addition to the views, the golf courses and the proximity to hiking in Colorado National Monument, many people who choose to live in the Redlands are avid cyclists, who appreciate the nearby mountain biking at Lunch Loops, as well as the road cycling opportunities. Construction of the Lunch Loop Connector Trail, which connects the Colorado Riverfront Trail to the Lunch Loops area, is underway, with a finish date sometime in October. Although the trail is tight against Monument Road in one small section, for the most part it meanders off and away from the road, especially once it reaches the Three Sisters area.
It would make a great way to commute to work on a bicycle for those who live at Redlands Mesa Golf Course Community. Of course, it would be brutal to commute home from work at 5 p.m. when temperatures are hitting their peak in July, since it's all uphill, but at least those who ride it daily would be in great shape.
Buying a home is simultaneously exciting and stressful. Owning a home is still a dream for many people, but first-time buyers often find that their unfamiliarity with the home buying process is a source of stress. Part of that stress stems from the terminology associated with home mortgages. Many terms may raise an eyebrow among first-time buyers, so the following are a few mortgage terms buyers can familiarize themselves with to facilitate the process of buying their own homes.
Buying a home is expensive, and part of that expense is the closing costs. Any time a real estate transaction occurs, that transaction is accompanied by certain expenses, which are known as the closing costs. Closing costs may include attorney fees, loan origination fees, title insurance and escrow payments. Buyers can sometimes negotiate with the seller so the seller will agree to pay the closing costs, or the costs can be shared by the buyer and the seller. But buyers may also pay the closing costs in their entirety on their own.
Escrow is a bond, deed, document or money kept in the custody of a third party until a real estate transaction has been completed. In addition, escrow accounts are used to hold the property tax and insurance fees that are collected via your monthly mortgage payment.
—Metro Creative Services