Real Estate Market
Shea Homes reports an increase in sales and traffic
The first half of the year shaped up well for Shea Homes, with an increase in sales and traffic through the second quarter in its East and West Valley developments. Shea’s West Valley communities in Peoria, Buckeye, and Litchfield Park continue to boom, claiming more than two-thirds of the sales for quarter two.
Shea is purchasing 387 home sites in Surprise at the Greer Ranch North community, just south of Vistancia and along the Loop 303 corridor, which are expected to open spring of 2014. Shea is also acquiring 110 home sites in Estrella Mountain Ranch in Goodyear, which is slated to open fall of 2014.
Shea remains active in the popular West Valley, where they have seen tremendous growth. Its Vallarta at Verrado community will break ground on models in August, with the community targeted to open in November. Vallarta will feature 63 home sites with luxury villa floor plans similar to Shea’s Vistancia community, Caletas at Blackstone.
“With sales and traffic continuing to rise, and the housing market continuing to recover, we are positioning ourselves to have something for all types of homebuyers throughout the Greater Phoenix area,” said Ken Peterson, VP of Sales and Marketing for Shea Homes. “We’ve made our mark in Gilbert and the East Valley, especially with Marbella opening soon. Heading further West to Surprise and Goodyear is an exciting opportunity for us to continue expanding.”
In the East Valley, Shea’s nine models at Marbella Vineyards in Gilbert are near completion and will open at the end of July. Marbella features Shea Homes’ newest product, a concept set to “Wow” consumers and industry players. With raves already coming out of a few “sneak peek” events showcasing the concept and how it will define the future of homebuilding, Shea Homes continues to challenge industry standards and generate high demand with over 800 people on Marbella’s and The Bridges’ combined interest lists. Models at neighboring community, Elements at The Bridges, have broken ground and are set to open in mid- September 2013, with Retreat at The Bridges opening in November 2013.
“The interest and excitement we’ve received for Marbella and The Bridges is through the roof. We have been getting very positive feedback on the new concept. Shea Homes is very proud to be shaping the future of homebuilding,” said Peterson.
This concept will be nationally released in mid-July. More information on Marbella’s and The Bridges’ interest lists can be found at www.sheahomes.com/arizona.