Fredericksburg, TX, September 14, 2011 --(PR.com
)-- Boot Ranch is on a record pace for lot sales closings totaling $5.4 million in real estate transactions from mid-July to mid-August this year. An additional $4 million in real estate reservation agreements are booked to be closed in the next 30 to 90 days.
In addition, 18 non-resident golf and non-resident social memberships were sold in the same period at a cost of $100,000 and $25,000 respectively each. The club now has 112 members overall.
"I don't know of another such master planned community project in the Hill Country, nor necessarily in the entire United States, that has had this volume in closings in such a short period, in this economy," said Chuck Perry, of Pine Street Partners, the asset managers for Boot Ranch. "Boot Ranch is definitely a hot property again. We have tremendous pent-up demand here. At this point all obstacles have been removed from our sales effort and we can now move forward successfully."
The development will have a total of 387 lots on 2,051 acres and includes a championship golf course designed by famed golfer Hal Sutton. Lots average 5 acres at an average price of $500,000.