Acadia Ridge by Toll Brothers - What's the Story?

Today, I went to look at the Toll Brothers development called Acadia Ridge in Summerlin. Since this market is proving to be more and more challenging, it is a MUST if you’re a REALTOR® that you learn about what is being offered by new home developers, and how it can potentially be competition for you if you decide to sell your home.

Community highlights include:

• Summerlin master-planned gated community with parks and trails

• Private community pool

Fees:

• Monthly association fees: $165/mo (Master plan of $55/mo plus community HOA fee of $110/mo)

• Estimated SID assessment of $16,500 balance, paid in installments of $544 bi-annually

Current school zoning:

• Givens Elementary

• Becker Middle School

• Palo Verde High School

To reserve a home site, it is $1000 for a 48 hour reservation period to allow for loan pre-qualification and structural option selections. Refundable only during reservation period.

Deposit requirements include earnest money deposit (EMD) of 5% of base price (both Conventional and Cash buyers). Also required is 20% of the lot premium, and 20% on all options up to 35% of base sales price. Any option purchased over 35% of the base sales price requires 100% deposit.

To prequalify, you must submit a full loan application to TBI Mortgage within 14 days of signing the agreement of sale and obtain a loan commitment within 45 days of agreement date. However, any lender may be used to complete the home purchase.

There are certain benefits a REALTOR® can negotiate on your behalf should you choose to collaborate with one. Toll Brothers can be generous with their interest buydowns and/or upgrades if negotiated correctly.

Given the nature of the market, a lot of would-be sellers are on the fence, wondering what options there are if they otherwise willing to sell. Some would-be home sellers don’t want to give up the awesome interest rate they may have refinanced into, only to go into a much higher interest rate. Would a fair offer even be accepted in the resale market, or will they be outbid by a transplant accustomed to much higher values? These are very common concerns for would be home sellers, and Toll Brothers does in fact bring value to those facing this dilemma.

The models

I’ve seen many model homes in the past, and Toll Brothers reminded me why they carry the reputation that they have. Modeled were the Alba Elite, Estella, and Torre Elite, and of course - all builders have models that have upgrades that are not available through the builder, but you can actually get some very impressive upgrades that one would think are not available with Toll Brothers.

The Torre Elite, at 5 bedrooms, set the tone for the overall experience. WOW factor is a common characteristic of Toll Brothers. Envisioning entertaining and hosting those close to you is easy in the Torre Elite. The impressive great room opens up to a covered patio, and the kitchen is complete with a large center island and the walk in pantry is definitely not cramped. The primary bedroom has a closet that emulates the feel of a high end clothing store, and the walk-in shower is big enough to have a party in (not that you would, but it’s nice to know you can). Every square inch of the 2762 square feet is without a doubt planned with the utmost attention to detail. Starting as of the date of this publication at $893,995.

The Estella, at 3 bedrooms is able to create a resort vibe as the Torre Elite, but in a single story package. An oxymoron in the most attractive way, the Estella is the more quaint of the models - without forfeiting the roomy layout of brilliant architecture. An appreciation for design and attention to detail develops as you walk through the Estella, with its crown jewel being the living and entertaining areas. At 2011 square feet, this floor plan is ideal for the minimalist who looks the other way on minimalism when it comes to hosting and entertaining. Starting as of the date of this publication at $801,995.

Last and perhaps most notable - the Alba Elite. Boasting 5 bedrooms and 2824 square feet, this model blends a multi-generational concept with an entertainment hideaway, and a generous loft to boot. So much can be said about this floor plan, such as the amount of natural light present even as the afternoon gives way to the evening sun. As is common with many families nowadays, the multi-gen suite solves problems that would otherwise direct someone to another (possibly less impressive) builder. Starting as of the date of this publication at $931,995.

The pros:

• A new shopping and entertainment center named Urban Core is rumored to be built nearby.

• Traffic is (as of this post) still not an issue in this area of Las Vegas, and is close to major arteries (215, Summerlin Pkwy).

• There is a fire station a stone’s throw from this community.

• Amazing floor plans.

The cons:

• As of now, no nearby stores. Everything is either on Cheyenne to the north, or Charleston to the south.

• Is roughly a half hour drive to the airport, 20-30 minutes to the strip.

• Has a SID/LID balance

Worth checking out?

Definitely. Most definitely. Major WOW factor.

It’s no secret that as of the date of this post - that the availability and pricing can and will change. What is available right now and for what price can change from one day to the next as lots get reserved, ultimately resulting in families writing new chapters in their books. Being that this development in particular is in its close-out stage, a winning deal may and can be had. Should you find the idea of collaborating with a REALTOR® to be an attractive suggestion, feel free to call or text me directly at 702-340-2678

I’m here to help.

Ignacio Martinez, REALTOR®

S.73788

Keller Williams Marketplace

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