Wednesday, May 8, 2013

I see a price increase in your future...

Ryan Homes sold out the current phase of Palmer Village. The original plan called for about 70 homes, and we are around halfway through.. I expect to see an increase in property values due to higher base sales prices. This base price has already increased by at least 30 thousand in the last couple of years in this development. Option prices have also gone up. Let's hope this does not translate into higher property taxes and insurance rates.

The developer should be starting the development of the next phase this summer. The  road and all utilities have to be installed before the plat is approved by the city. Once the plat is approved RH can start construction on the homes. Sales should start early fall. There are two phases to go, with the first continuing Palmer heading south towards Cateland (or Kateland), and the next phase curving back north towards Covington...


  1. What will that mean for you and your family? Will you be near all the construction or is it tucked away so you won't have to live through it all? It also looks like all the those trees will be taken out, but it may offer some nice wooded lots too.

    Our streets are the last two in our development and we are held up from permit delays.

  2. Good luck with the permits, I don't even know where to check our status on that. Our house will practically be where that number 2 is. We are one of the last houses to go up in the phase, so I expect construction for this phase to wind down within months of our house finishing. I think there will be lots of construction traffic going through for at least two years, but most of it should be just that, passing through as the work will always be getting further away from us, so it should be better than the folks further down.

    But you are correct, all the trees will be gone until it resembles the existing street (Covington) in the picture. Only the houses on the outer rim will have treed lots, because those tree are not owned by RH or the developer. The house under 254 in the picture owns five acres all the way down, with over half being wooded. A church which is not visible in the picture owns the entire land west of Covington (1 and 5).. All the other trees will be gone, sadly..

  3. Increase in property value will increase in property tax.
    Good for people who buy to invest, but bad for buyers who wants to stay long term to start a family.

    1. That is a sad affair indeed. We are hoping to stay there for a long time, the "not too insane" property taxes were part of the reason we selected this community. But as we see the city getting built up at an exponential rate, there is little hope property taxes will go anywhere but up up up and away..