Land Advisors Organization’s Prescott office facilitates $4.25 million deal, representing the buyer of 23 finished lots for construction of semi-custom luxury homes.

Scottsdale, Ariz. (Nov. 2, 2022) – Land Advisors Organization’s Prescott, Arizona, office represented the buyer, Southwest Sunset Homes, in the $4.25 million transaction, securing 15.12 acres within the Prescott Lakes master-planned community. The buyer plans to build semi-custom luxury homes on the newly-purchased 23 finished lots.

Capri Barney, who focuses on the rapidly developing Yavapai, Coconino, Mohave, Gila, and Navajo county markets, represented the buyer. The seller was Solstice Ridge LLC (James Fletcher principal). The property is located in the Solstice Ridge neighborhood on South Lakeview Drive. The sale fetched $281,415 per acre.

“The Prescott housing market has slowed somewhat as a result of the current economic conditions, especially in the entry-level housing segment.  However, since the lot supply continues to be low and the need for additional housing remains, some homebuilders see the benefit in acquiring finished lots, if they can find them,” Barney said.

Southwest Sunset Homes approached LAO with interest in entering the Prescott market. The seller was in the process of developing 56 single-family lots when LAO approached him with an offer. The property was put into escrow while the seller completed the infrastructure. The buyer closed on 23 lots in the first of two phases as soon as all horizontal improvements were complete and approved by the City of Prescott.

Southwest Sunset Homes is also currently under contract for the remaining lots and plans to close escrow on those once development is complete. The buyer plans to build and sell semi-custom luxury homes and will begin construction on their model homes as soon as building permits are issued.

About Land Advisors Organization

Founded in 1987, Land Advisors Organization is the nation’s largest land brokerage firm specializing in providing deep market insights to landowners and purchasers for the most comprehensive and effective evaluation of land in markets across the country. By integrating current local market information with cutting-edge technology and geographically specialized professionals, Land Advisors Organization advises clients in identifying and capitalizing on valuable land opportunities in all economic environments. Land Advisors Organization serves landowners and purchasers from offices in Phoenix, Tucson, Casa Grande and Prescott, Arizona; Irvine, San Francisco, Century City, Pasadena, Roseville and San Diego, California; Orlando, Jacksonville and Tampa Bay, Florida; Atlanta, Georgia; Charlotte, North Carolina; Nashville, Tennessee; Boise, Idaho; Las Vegas, Nevada; Albuquerque, New Mexico; Austin, Houston and Dallas-Fort Worth, Texas; Salt Lake City, Utah; Kansas City, Kansas; and Seattle, Washington. Stay connected with us on Twitter, Facebook and LinkedIn.

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