Ridge at Lantana Market Update 3rd Quarter

The Ridge at Lantana neighborhood in southwest Austin is bucking the overal Austin trend of rising prices and reduced home sales.  This 3 year old neighborhood has seen prices decline by 3% during the first three quarters of 2008 while the number of homes sold is up 8%.  I've been told that the Ridge at Lantana is one of the best for homebuilders Newmark, Plantation, and Meritage who are seeing home sales declines for their new construction all over Austin.  The Ridge at Lantana currently has around 250 homes and will be complete with around 330 homes.  Those who purchased a new home in Lantana in the first few years of its infancy can most likely sell at a gain if they price their home right up front.  Those who overprice and reduce the price incrementally seem to be sitting or selling lower than anticipated.  Visit the following link to see my full Ridge at Lantana Market Update 3rd Quarter 2008.

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