Granada Villas represents one of the best values in Dr. Phillips. The charming Spanish architecture with tile roofs and convenient location that’s walking distance to restaurant row makes it a great choice. The fact that the homeowner’s association takes care of the lawn with reasonable HOA fee is just an added bonus.
So far, 6 sales have taken place here in 2008 with prices ranging from $215,000 to $280,000. The average square footage was 1,473 for the sold properties with an average price of $253,800, and the average price per square foot was $173. The lowest price per square foot was $154 and the highest was $184. The average days on market was 223 days which is indicative of the crappy market we’ve been having in 2008. Don’t let this fool you. When the market starts turning around, Granada Villas will be one of the first maintenance free places to start improving.
I make this prediction because Granada Villas offers a detached home versus the attached home you get in a condo or townhouse so you get more privacy. The maintenance fees are about half of what you normally find in a condo or townhouse development. It’s also walking distance to restaurant row and how do you put a price tag on that.
One caveat I can make is that these places were built in the 80’s with copper plumbing which eventually develops pin hole leaks. Many of these homes have been replumbed, but knowing my luck it’s a good thing to check our before buying.
download pdf: Properties Available in Granada Villas as of Sept. 2008