Britton Homes Update - Mustang Lakes - March 2022
Every month LivingWell Realty brings you the latest information about the Mustang Lakes real estate market. Today Nicole sits down with Blake Lundry the sales associate with Britton Homes at Mustang Lakes in Celina Tx.
Nicole: Hey y'all it's nicole with living well properties and i am back out in mustang lakes today to chat with Blake with Britain to get us a little update on what's going on in 2022.
Blake: Howdy howdy guys how are y'all doing, so yeah the the main question that we get right now is what's going on you know do we have a wait list are we selling are we capped on sales when are we getting our new phase of lots so i'm going to break it down and give you the bullet point version okay so that's short sweet and to the point.
Right now we are currently selling showcase properties only which means we pre-selected the lot the floor plans all the finish outs and i have three of them left in my current phase so we are operating on a wait list it is a numerical order and the wait list is about 950-ish people long. So there's a lot there's a lot of demand out there we already all know that but the big question that i get is you know is it even worth getting on a wait list if you have three properties and a thousand people on a wait list the answer is yes. always, always, always get on a wait list if you're truly interested in purchasing a property out here in mustang lakes especially with britain how's it going.
Nicole: But why why would they yeah the big.
Blake: Why is because we will be releasing a new phase of lots in june now we do have confirmed numbers we will have 34 lots that will release in june so what we are going to do is we are going to take that same wait list and transfer it over to our new phase of lots in june so once we have an idea of how we're handling everything and handling the structures of our sales process we'll contact that wait list and interest list and we'll go from there we will more than likely be capped on sales as well but instead of one a month we may be at two or three just to make sure that we are setting everybody up for success you know um and we will get actually get another phase of lots in the first quarter of 2023 and we are projected to get about 30 some odd lots um so we'll know more about that a little bit closer to the end of the year okay so we've got stuff coming up. It's it's just a matter of the waiting game and strategy right now.
Nicole: Awesome and are they going to be the same 60-foot wide lots that you're getting tomorrow.
Blake: Yes so we are a standard uh 60 foot product out here so our standard lot size is 60 foot wide by 125 feet in depth but we will have premium lots. As well typically about 80 percent of our lot allocation is on premium lots.
Nicole: Okay yeah one other thing you were telling me that you might want to let them know is your earnest money requirement what is that now.
Blake: It has changed we have done um just looking at the market and the volatility and pricing and materials and based on what other builders are doing as a whole we have adjusted our earnest money requirements and they are now five percent of the overall contracted sales price but with that being said the process and the logistics of how we handle that earnest money are the same so we are going to you know collect that five percent earnest money but when you close you get that back as a credit right if you terminate contract we keep it sorry that's what it is.
NIcole: Yeah you better be serious, yeah.
Blake: Yeah so it's just it's just a way to you know ensure that we're we're covering ourselves as a builder and we're being competitive in a market that is absolutely crazy right now.
Nicole: You don't expect that until they actually contract anyway correct yeah so it's not like you're just giving them a check until it's your turn.
Blake: I won't take your money until you sign a contract all right yes ma'am.
Nicole: Well thank you so much for the update really appreciate it absolutely it's always a pleasure talking to you all right guys until next month that wraps it up take care and god bless
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Selling your home in a neighborhood that has active builders can sometimes be very challenging and complex. We actually created a webpage dedicated to Selling a House in Mustang Lakes to help you understand the process.
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