GL Homes holds “lottery” for their latest Valencia series development
The south Florida real estate market is sizzling. As we reported a few days ago in this column sales during the month of March were off the wall with inventories continuing to shrink. Buyers are scrambling to get their offers in on well priced new listings and now this….
Many remember back between 2002 and 2005 when developers like Bobby Ginn rolled out the red carpet with big name entertainers to kick off their latest developements. Buyers counting on double digit gains by buying at pre-construction lined up and the rights to buy were handled via lottery systems. Well those days are back and a bit surprising.
Surprising as the latest craze happened at a 55+ community with prices starting about $400,000 in Boynton Beach at GL Homes newest community, Valencia Cove. Reports are that 72 homes were sold during a two hour period which is stunning.
In the coming days we will be publshing our latest look into absorption levels in the area which will again point to amazing strength and bredth of the market.
Fins up until then…..