Golf News for Monday, December 9, 2013 | Real Estate

Cordillera Ranch in Texas posts record year-to-date home sales

BOERNE, Texas -- Cordillera Ranch - the Hill Country's premier luxury community - announces a robust 63-percent increase in home sales over the past 12 months and a 31-percent increase in overall home and lot sales for a total volume of $41 million.

Purchases in the past 12 months total 31 homes at an average $930,000 price point, marking a 10-year high for the property. An additional 49 homes are currently in construction - more than double the number recorded at the economic downturn's lowest point. Another 25 homes are in the architectural review approval process.

DH Investment Company, developer of Cordillera Ranch, cites several local and state-wide factors leading to increased demand for luxury lifestyles. The development's seven clubs draw today's active families with a variety of activities ranging from golf and tennis to equestrian and fly-fishing.

Parents covet highly-ranked Boerne Independent School District. Moreover, Cordillera Ranch's Hill Country views provide an escape from city life.

"It is an ideal time to buy or build a new home at Cordillera Ranch," says Vice President of Development, Charlie Hill. "Pent-up demand through the recent recession has spurred growth and interest, a trend we expect to continue through 2014."

For those seeking to quantify the benefit, no city tax assessment at Cordillera Ranch affords buyers up to 17% more home, versus its competitive set. Property taxes at Cordillera Ranch are among the lowest in the area, and Texas is one of only seven states with no income tax. Regionally, the San Antonio metro area cost of living stands well below the national average.

Home sites nearest to the Jack Nicklaus Signature golf course and expansive main clubhouse garnered the most growth in 2013, accounting for 41 percent of all lot sales in the past 12 months. The "lock and leave" Di Lusso villa enclave, which opened a second phase in 2013, offers an attractive value proposition for active Baby Boomers, with smaller 1/3-acre lots and homes starting at 2,400 square feet. It is one of three sections added to the property's inventory in 2013.

Reinforcing the positive momentum, the San Antonio Board of Realtors (SABOR) recently provided October 2013 figures: home sales in the region are up more than 11 percent, average home prices are up 6 percent, fewer single-family homes are on the market, and many are selling in a shorter period of time. Homes.com placed San Antonio as the top real estate rebound market in the country earlier this year.

Along with the real estate gains, the Club has produced consistent net membership growth for each of the seven years it has been open, currently totaling 615 members. The success allowed the Clubs at Cordillera Ranch to retire all bank debt this year, a major accomplishment in light of the private club industry's financial struggles reported through the economic downturn.

"A strong financial structure is very important to most buyers in the wake of the countless failed private club developments during recent years," says Hill. "We're proud of the extra stability and comfort this provides to our many members."

For more information: www.cordilleraranch.com, 888.66.RANCH.

About Cordillera Ranch
Cordillera Ranch is an 8,700-acre master-planned residential community located north of San Antonio in the Texas Hill Country. It offers residents on-site recreational activities and boasts 0.25-acre villas, one- to 10-plus acre estates, including valley-view, golf course, Guadalupe River frontage and hilltop home sites. Residents of the gated community can join The Clubs of Cordillera Ranch that feature seven resort-style clubs in one location - The Golf Club, The Social Club, The Tennis and Swim Club, The Equestrian Club, The Rod and Gun Club, The Spa and Athletic Club and The River Club. Cordillera Ranch is undertaken by Cordillera Ranch Development Corp., a subsidiary of Texas-based DH Investment Company.

CONTACTS:
Shane Sharp
Buffalo Communications
704.519.8381
ssharp@buffalocommunications.com

Janeen Driscoll
Buffalo Communications
910.690.9711
jdriscoll@buffalocommunications.com



 
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