You can see why people buy in OV development - The Explorer: Business

You can see why people buy in OV development

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Posted: Wednesday, November 17, 2010 12:00 am | Updated: 8:17 am, Thu Mar 24, 2011.

When you see what you can see from the building lots at Catalina Ridge in Oro Valley, you can see why people want to buy them.

The view of Pusch Ridge and the Santa Catalina Mountains is “fabulous,” said Larry Appel, co-listing agent with Georgeanne Evans of the 45-lot development in Oro Valley’s uplands.

When people walk into the family room of the model home now under construction, “they say ‘oooooh!,’” Appel said.

“Every lot affords that view,” Evans said. “One lot will not obstruct the view of another.”

There are Tucson views as well in 38.3-acre Catalina Ridge, which has lots ranging from ½ to one acre in size. About a dozen lots have been sold, with increasing activity on the property. Two houses are occupied. Four are being constructed. Plans are finalized for another two.

“When a project first starts, people say ‘I don’t want to be the first one,’” Appel said. “Activity begets activity. We’re getting more and more folks. People are coming back, ready to buy.”

Beyond views, the agents point out, Catalina Ridge is proximate to Oro Valley Hospital, the Oracle Road commercial areas at Rooney Ranch and Oro Valley Marketplace, and major employment centers in the community. Catalina Ridge sits just west of First Avenue in Oro Valley. It is accessible off Naranja to the north, Lambert to the south.

Appel and Evans are co-listing agents for the project. They are Long Real Estate agents working on behalf of River’s Edge LLC, a Scottsdale group that acquired the property. River’s Edge “came to us and asked if we would list and market this property,” Appel explained.

Evans suggested the on-site office, which is open from 11 a.m. to 4 p.m. seven days a week just south of Naranja.

Three builders — Sombra Homes, which is building a speculative / model home just south of Naranja, as well as AF Sterling and Dorn Homes — are active on the site with floor plans. A lot buyer can choose among the three, or have “the builder of their choice,” Evans explained. Architectural plans must be approved by a committee.

The basic rules for home construction at Catalina Ridge are simple. All homes must be one level, must be at least 2,500 square feet of living space, and must be in the Southwest style. Building heights are restricted.

“There is a good package of design guidelines,” Appel explained.

A park is the prime community amenity. “Everyone’s putting in” swimming pools thus far, Evans said.

Lots are priced from $150,000 to $230,000.

“We get people all the time saying these lots are priced reasonably,” Evans said. “They appraise easily.”

“We know we’ve got a good product here, and if anything’s going to appreciate, it’s this,” Appel said. “Some folks have bought lots here for the long term.”

“You don’t have to build on a time line,” Evans said.

In spite of the housing market, “we haven’t change anything,” Evans said. “We came in with a concept, and we’re keeping it.”

“Our developers haven’t had any change of what their vision is,” Appel said. “They have not discounted prices.”

Evans sees an “interesting mix” of doctors, retirees, business people, families and others buying lots in Catalina Ridge. “There are some who have lived in Oro Valley, and wanted to upgrade to the new green amenities,” Evans said.

Home price points are in the range of $550,000 to $750,000.

Catalina Ridge

Larry Appel and Georgeanne Evans, co-listing agents

www.catalinaridge.com

www.Tucson-RealEstate.net

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