We’ve just closed on another gorgeous home, 1361 Red Oak Trail in Oak Meadows of Fairview, Texas. For many yeas Oak Meadows was raw land sitting at the end of a small two lane street with barricades. It was really a forgotten piece of land until Dinapoli Development, LLC took the project on. It turned out to be one of Fairview’s most impressive developments.
This home was listed at $3.375 Million and was on the market for only 34 days. This is the second most expensive home ever to sell in Fairview! There a story behind every sale and there’s an interesting one here too.
Erin Clifford and I listed and sold all of the lots in the Oak Meadows. Even before the streets were in, we sat down with the developer to come up with the lot pricing. We had to decide which lots would be the premiums, which lots would be nice, and which lots would be the least desirable. Then we priced the lots accordingly.
When it comes to lot pricing in brand new developments under construction it’s really a guessing game knowing what the market will bear. However both Erin and I believed this particular 2 acre lot would be looked as a “problem lot” and one of the last to sell. Here’s why.
The lot was sloped in two directions on the side of a hill requiring some extensive “cut and fill” and retaining walls. Add to that, the lot is more rectangular than squared off so the home had to be designed specifically to accommodate that configuration. It would take someone with vision and imagination to build on the lot.
Sometimes the least likely lots turn out to be the ones that really stand out when they’re developed and this is a great example. It was the last lot to sell but what the sellers did with it is just amazing!
We’re so happy we were able to deliver for our sellers. We were really pushing the high end on pricing and they trusted us to get the job done for them. Sean Elliott did his usual great job representing them.
