Pearson Place is Avery Ranch’s newest subdivision and buyers cannot get enough of it. In fact, there is clearly not enough Pearson Place to go around! Right now builders are waiting for their Phase Two rollout and at this time only have less than a handful of inventory homes available.
Map of Homes For Sale
Details on Phase Two at Pearson Place
So, what is all this hype about the second phase at Pearson Place?! To break it down for you: there are currently three builders in Pearson Place: Pulte, Grand Haven and Streetman. Each builder will receive about 30 or so lots from the developer once Phase Two is rolled out. At this time, each builder has a HUGE wait list – one sales representative I spoke with over the weekend says she has over 500 people in her database for interested buyers, and guesses about 100 of those will still be ready to go once the second phase opens up. As soon as they open up the Phase, they plan to go down their lists and call in each buyer for a now-or-never moment.
The sales representative also mentioned that they would probably only release 3 or 4 of their lots each month, so that production time does not get affected. It doesn’t take a calculator to figure out that demand way outweighs the supply here in Pearson Place! And, if you are one of those lucky buyers who gets called in, you are going to have to make your decision quicker than you would on a typical new home build.
Why is Pearson Place So Popular?
Located in Avery Ranch, but with its own HOA and amenities, Pearson Place at Avery Ranch is a gorgeous community where homes are built in the upper $200’s and into the $400’s. Soon the community will have its own tennis courts, playscapes and pools, including a kids’ splash pool, as well as privileges at the Avery Ranch Golf Club. There are also trails throughout so residents can take advantage of the beautiful views the community has. It truly is a beautiful part of Avery Ranch! More importantly though, the schools are excellent, which is priority one for many families. And, with all the new businesses opening up near the Avery Ranch area, including restaurants like Z Tejas and Tony C’s Pizza (two of my favorites!), it is an ideal place to live!
We’ve also been told that with future phases the roads will open up giving easier access to the 620 while being able to avoid Parmer Lane!
Will there be a Phase Three at Pearson Place?
Yes, the developer has enough land to roll out another phase. However, Phase One and Two lots were bought by the builders 5 years ago, at five-years-ago-prices. Phase Three has not yet been purchased and with the real estate market going the way it is, you can expect those prices to go up. Of course, the builder has to pass those lot prices down to the buyer. What this means is that while you can still get a home under $400,00 in Pearson Place, the anticipated higher lot prices means that homes could go for more, even into the $500,000’s or more.
What this also means is that some of the builders, like Pulte and Streetman, might be pushed out of Pearson Place, as they focus on the markets in the $400,000 and less. It does not make sense for them to compete in the higher in markets and I can foresee higher-end builders like Drees, Taylor Morrison or Highland stepping in.
What does this mean for current homeowners?
If you are a current homeowner in Pearson Place, you are sitting pretty. Typically, you need to wait until the builders are out of your community so you don’t have to compete with the incentives the builders with deep pockets can offer buyers. But, here, where the demand is high and supply is low, you should see home values trickle up quite nicely. If you are a homeowner and would like to talk to a real estate professional about your home’s value, contact our team today.
Do buyers not currently on the waitlist have any hope of getting into Phase Two at Pearson Place?
If you know that Pearson Place in Avery Ranch in THE place for you and you have time to build, then my best advice to you is to get on the wait list now. Even better advice: have a Realtor represent you and make sure your Realtor accompanies you to your first visit at the model home. So many buyers I meet are under the impression that you do not need a Realtor when building a new home and then they so thankful when they hire us to help them and they experience how much we help them throughout the process (including negotiating!). The builders welcome and most times prefer that you are working with a Realtor and our commissions do not affect your bottom line, so call one of us today if you are thinking of building in Pearson Place, or any Austin area community!