WHY IT WORKED: This low-density, high-amenity community surrounded by a new public golf course offers value to buyers from nearby counties.
- Clearing was capped at 20 percent per lot, preserving trees and lending the development a mature look. Every home backs up to the golf course or preserved open space.
- Located in a residential low-density district, home sites average 1.68 acres and provide a sense of privacy to owners.
- While the target markets were Baltimore, Annapolis, and surrounding counties, 50 percent of buyers came from Pasadena, Md., itself as local business people sought to move Open up from smaller, older homes and townhouses.
- Buyers spent an average of $100,000 on options, particularly three-car garages and solariums. Granite countertops and finished basements, also were popular.
- In a hot real estate market, the homes provide value for buyers and motivation for the builder to spend more to enhance its product.
Project: Compass Pointe, Pasadena, Md.; Sales started: July 2002; Sales through June 2004: 65; Units planned: 68; Price: $469,990 to $515,990; Size: 2,747 to 4,274 square feet; Developer: Grayson Development Co., Ellicott City, Md.; Builder: Grayson Homes, Ellicott City; Architects: Daniel Ball & Associates, Columbia, Md.; Architecture Collaborative, Ellicott City; Interior designer: Merchandising East, Ellicott City
Learn more about markets featured in this article: Baltimore, MD.