“Jim Cramer, a retired mechanical engineer, was looking for a new home in Glendale.
What he got was a Spanish Colonial compound that stretches over two lots and includes guest quarters, a pool and a garage that fits 10 cars.
‘It’s like I’m running a mini-hotel now,’ Cramer said, referring to the family and friends who now visit.
Cramer was the first to take advantage of the double-lot option being promoted at The Reserve at Eagle Heights, which is near 75th Avenue and Loop 101. The developer, Western Pacific Properties, has begun offering lots side-by-side or back-to-back, giving space for amenities such as those that Cramer wanted.
That demand for larger lots is being seen at The Reserve, where new homes start around $568,000, and at developments with more moderate price points.
‘Nobody wants a tiny lot. You buy a tiny lot because that’s all you can afford,’ said RL Brown, a Valley economist specializing in the housing market.
While larger yards may be more desirable today than at the height of the real-estate boom, many developers are finding that buyers overall are more frugal about the size of their homes…”
Read the full article: http://www.azcentral.com/community/glendale/articles/2010/01/15/20100115gl-reserve0115-ON.html
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