AZCENTRAL.COM
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FRIDAY, DECEMBER 3, 2021
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A S P E C I A L P U B L I C AT I O N C R E AT E D B Y R E P U B L I C M E D I A C U S T O M P U B L I S H I N G
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WHAT’S INSIDE
December 2021
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ASK THE EXPERT PRE-QUALIFICATION VS. PRE-APPROVAL PRIVATE MORTGAGE INSURANCE (PMI) Getty Images
MORTGAGE QUIET PERIOD
Home Locator Maps See pages NH3 & NH4
NE AND SW DEVELOPMENTS OF THE MONTH
Chase Capture via Cachet Homes
Emerald Hills, Scottsdale Cachet Homes This intimate enclave of seven semi-custom homesites is located near Shea Boulevard and 124th Street. All homes are single-level and feature bright and open great rooms, gourmet kitchens, expansive verandas, all en-suite bedrooms and four-car garages with ample parking and storage. Lot sizes are approximately three-fourths of an acre and will have pool-house options. Homes will soon be under construction.
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Number of homes: 7 Prices: From the low $2 millions Cross-streets: 124th Street and Shea Blvd Beds/baths: 4 beds, 4.5 baths Square-footage: 4,500–5,000+ with pool-house Sales office hours: No on-site sales office Phone: 602-777-5175 Website: CachetHomes.net
Please note that photos are of a similar community since Emerald Hills is not constructed yet.
Chase Capture via Cachet Homes
Mark Boisclair Photography via Tri Pointe Homes
Preserve at Sedella, Goodyear Tri Pointe Homes Offering four single-story floorplans, Preserve at Sedella boasts 75 new homes on large 90-foot-wide lots. Homes include a three-bay or four-bay garage with optional RV packages available featuring both attached and detached styles of RV shelters. Conveniently located near I-10, the community offers easy access to scenic hiking trails, camping areas, horseback riding, golf, employment centers and recreation venues.
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Aerial view of Waterston North, a new-home community in Gilbert. The 140-acre site includes 485 homesites. Tri Pointe Homes
Hard landing Homebuilders increasingly challenged to find great land-parcels for new-home communities
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By Debra Gelbart
Active land pipelines are critical hether they’re seeking vacant land, infill Tri Pointe “relies mostly on private land sales for its land opportunities, parcels in master-planned pipeline,” Attwood said. Recent land transactions, he noted, communities or repurposed acreage, are “pushing many builders to target emerging submarkets homebuilders are facing growing competition where infrastructure is less established. There are still infill and stiff pricing when it comes to land acquisition for newopportunities [available land in wellhome communities. established areas], but the market for these Although the challenges are very real, land acquisition remains a primary focus “It’s rewarding to take has become increasingly competitive.” For Cachet Homes, almost all land that’s for many builders. For example, Tri Pointe raw land and develop acquired for new communities originates Homes (formerly Maracay Homes) recently communities that enrich from private or corporate owners. The acquired 210 homesites on which it plans only exception, Cody said, is when Cachet to build new homes in three communities in our customers’ lives.” —James Attwood, has the opportunity to participate in a Chandler and San Tan Valley. Tri Pointe Homes Arizona master-planned community. However, obtaining newly acquired Variety of ways to acquire land land for homebuilding isn’t as straightforward as it was even Land acquisition is the first step in the process of “creating just two or three years ago. “The supply-chain and labor healthy and sustainable communities,” said James Attwood, issues rippling through the economy also impact the land Tri Pointe Homes Arizona’s division president. The majority development process,” Attwood said. “As a result, it’s taking of Tri Pointe Homes’ land purchases in Arizona, he said, longer to bring new developments to market.” What’s more, consists of vacant land that needs to be entitled [approved by a in addition to the challenges related to land purchases, government entity] and developed. homebuilders say that it can be hard to Other builders may focus on acquiring find enough qualified subcontractors to land within an already-developed area. “We’re always looking install the infrastructure needed for a “When given the opportunity, we enjoy being part of a master-planned community for settings in which to newly acquired piece of land. with a master developer and other builders; offer our homes.” Inflation an added pressure however, those opportunities are limited,” —Matt Cody, Cachet Homes “Inflation is affecting the price of said Matt Cody, president of Cachet everything,” Cody said, “including Homes, a luxury production builder. He said infrastructure costs needed to improve land. These costs that Cachet is focused on infill opportunities usually in need must be incorporated into projections and continue to put of entitlements [land use approval]. “On a few occasions, we tremendous pressure on home prices.” have redeveloped a site that might have been home to an office building past its prime or perhaps a homestead that had fallen into disrepair,” Cody said.
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Number of homes: 75 Prices: From the low $600s Address: 18110 W. Highland Ave., Goodyear Beds/baths: 3–6 beds, 2.5–4.5 baths Square-footage: 2,695–4,347 Sales office hours: 10 a.m.–6 p.m. Sat.–Thurs.; 1–6 p.m. Fri. Phone: 480-889-3713 Website: TriPointeHomes.com
Aerial view of the Union Park community in Phoenix
Mark Boisclair Photography via Tri Pointe Homes
Sunbelt Holdings via Cachet Homes