Good news for Stratland Estates in south Gilbert

Good news for Stratland Estates in south Gilbert. Pulte Homes, Meritage Homes, and Toll Brothers have purchased 230 vacant lots, which have been sitting empty since the developer, Stratland Estates L.L.C., filed for bankruptcy in July of 2008.

Stratland Estates is located near Higley and Germann Roads. The developers who have purchased the vacant lots plan to start building their new homes, and completing the neighborhood early next year. Pulte acquired 107 lots, and will build homes ranging from 1,900 to 3,000 square feet in size. Meritage will build 65 homes in the community, and Toll Brothers will build on the remaining 58 lots.

Taylor Morrison homes currently has 10 brand new homes for sale as well in Stratland Estates. Their 4 bedroom model is starting at $214,990, and boasts almost 2,000 square feet. Taylor Morrison's highest priced listing is a 6 bedroom home with over 3,500 square feet, and is listed at $299,990. A total of 15 homes have sold in Stratland Estates this year.

There has been an unexpected increase in new home construction permits in Gilbert, as nearly 1,000 permits have been issued so far in 2009. Is this a sign that the times are changing, and the real estate market is starting to pick up again? I think it's too early to tell yet, but this is a very good sign for Gilbert and the community of Stratland Estates.