New construction is heating up in The Neighborhoods of World Golf Village.  In fact, four new projects have either already started or are planned to start this quarter in The Crest, Laterra Links, GroveWood and The Cascades. The activity is good news not just for our own premier golf community, but for the entire North Florida real estate market. Says Sherry Davidson, President of Davidson Realty, Inc., “We started seeing a recovery to the real estate market in mid 2009 and the trend continues.  In January 2009, there was not a single new construction project on the horizon, but we’re starting January 2010 with several different projects.”

Under construction in The Crest are two new custom homes.  The Crest is one of the exclusive neighborhoods of The Estates where home prices start in the $600,000s.  Homesites in The Estates are generously sized, dotted with ancient oaks and loblolly pines, and ideally situated nearby the King & Bear Clubhouse and the Swim & Tennis Center.

Scheduled to be completed in February 2010, a new spec home is being built by Providence Homes in GroveWood. The 2,559-square-foot home will have four bedrooms and three baths, and is priced in the mid-$300,000’s.  GroveWood is a family-oriented community where young children learn to ride their bikes along oak canopied sidewalks.

Breaking ground in Laterra Links early this year are new multi-unit buildings, each with four upscale coach homes of about 2,100 to 2,700 square feet. According to Legacy Builders President John Unkefer, “We expect the first building at Laterra Links may be completed as early as July 2010, with all four buildings, a total of 12 units, to be completed before the end of 2010.”

Under the new ownership of Dockstreet Communities, The Cascades, the active adult retirement community, will grow in 2010.  Dockstreet is breaking ground on six new models by the end of January with an anticipated opening date of June 2010.  The new models are in easy walking distance of The Cascade’s well-appointed clubhouse and amenities. According to Dockstreet Communities Representative Nita Roberts, “The momentum for The Cascades is super.  We sold six new homes in the last few months and we’re thrilled about breaking ground on an additional six models this quarter.”

In addition to the new construction projects, other signs are lighting the way to a real estate market recovery.  “There’s an upward trend in transactions which is helping prices stabilize.  We believe the increase in transactions is a result of the great values available to homeowners, combined with good interest rates and, in some cases, the Federal homeowners incentives,” explained Davidson.