Somersett Market Update

Posted by David Hughes on Thursday, October 14th, 2010 at 4:50am.

"Multiple Offers", that is correct last week 8645 Tom Kite went on the market and had a full price cash offer within hours but lost out to a $40,000 over asking price offer. It was located on the golf course and had some very nice landscaping with great views.What we are seeing in Somersett is if a quality house comes on the market either on the golf course or with a good view it will sell and probably very quickly.

The homes that have had a hard time selling are the "5700 square foot Mc Mansions" that Toll Brothers built on small lots that back up to rock walls. What is the big deal, sure you will have a $600 per month utility bill and your kids will get some scrapes and bruises from running into the walls, but you did help Toll Brothers stock. The good news is Toll is now building some smaller homes on larger lots on Hole 7 with fantastic golf and mountain views. They have already sold 5 in the last 6 weeks.

Bottom line market in Somersett is there are about 85 properties on the market, 7 of them bank owned and 55 of them are short sales.

1 Response to "Somersett Market Update"

Jeff Britton wrote: your comments and insight onto the Somersett Market are timley and accurate.
I wish I had listed with you sooner. Posted on Friday, April 22nd, 2011 at 2:58pm.

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