505 Ranch lot sales increase in apparent parallel to DFW new home starts' rise; good year expected
by David Webb
David Webb is a veteran journalist who has written for the mainstream and alternative media for three decades. He is now a freelancer who lives in the Cedar Creek Lake area. He is the editor of cedarcreeklake.com. E-mail story ideas to firstname.lastname@example.org.
Sales of luxury waterfront lots at 505 Cedar Creek Ranch Club picked up this summer with three being sold in the past month and several others under consideration by buyers, according to the developers.
Half of the development's 56 waterfront lots are now sold, and a sellout at the four-year old development is expected within about 18 months, said Roger Maese, director of sales.
"We have several people coming back this weekend to make a decision," Maese said. "We've staked out the lots and mowed paths to walk down to the lake on the lots."
Maese said the development has seen an increase in interest from buyers. He attributes the sales activity to the economy picking up this year, and the lake filling back up after the severe drought took the level down eight feet last year.
"For the past couple of years people have been waiting," Maese said. "Now, they are ready to do it."
Maese said he expects construction on at least three new homes will begin before the end of the year. Six homes are already built, and a seventh is currently under construction, he said.
The increase in interest at 505 Ranch apparently runs parallel to an increase in new home starts observed in the Dallas-Fort Worth area in the second quarter of this year.
Home builders started construction on 4,459 homes from April through June, according to Metrostudy of Dallas. That is the largest number of new home starts since two years ago when new home buyers received a federal tax incentive leading to 4,598 started, the report noted.
The authors of the report said they anticipate closings on new homes to continue to increase throughout the year, based on the activity seen in the first half of 2012.
All of the amenities of 505 Ranch are complete, and there is a lot of activity every weekend at the development by current property owners, Maese said.
Amenities at 505 Ranch include equestrian stables, paddocks and a training course for Western and English riders, a polo field, stocked fishing lakes, a skeet and trap range, rustic camping areas with teepees and trails for hiking, biking and ATV riding.
There is also a luxurious clubhouse with a pool room, full service kitchen, dining room, lounge area, terrace, infinity swimming pool, sandy beach and a guest house that can be reserved by property owners when they need extra space for houseguests.
A staff is on hand at 505 Ranch around-the-clock to assist property owners. All of the property owners will proportionally own the 400-acres of common ranch area and its amenities. Homeowners wanting to board horses will pay extra fees, but the rest of the resources are equally available to all.
A concierge whose job is to "make everyone happy" manages the operation and attends to property owners' requests.
"People buy a lot, and we take care of everything else," said Bob Jenkins, director of owner services, during a tour of the development in the spring.
The waterfront lots are listed for $325,000 to $525,000 each. There is no time limit on when a house must be built, but a minimum of 3,000-square-foot built of 80 percent stone with a non-composition roof is required.
The houses currently constructed range from 4,800- to 8,500-square-foot. There is no limit on how large of a house can be built, and it is possible to buy more than one lot for the construction.
The developers guarantee that the development will always be exactly what it is now -- a pristine wilderness preserved for the use of the property owners, Jenkins said.
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