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Success Stories
Setting the Pace in Silver Oak
What happened:
Joffe Land Companies sold 78 developed and 101 partially developed lots in the Silver Oak community to a large, national homebuilder.
Where's the property:
Silver Oak is located in Dallas, GA (Paulding County).
What's the larger impact:
Just two to three years ago, many in the real estate community felt it would take years if not decades for the Dallas/Paulding housing market to return to form. Silver Oak has been the trendsetter and proof that demand for new homes in the area has returned.
What's next:
Almost half of the 78 developed and 101 partially developed lots have become single-family homes. Prices start around $200,000.
View Silver Oaks Portfolio
Riding High in South Wind
What happened:
Joffe Land Companies acquired approximately 700 remaining developed and raw lots.
Where's the property:
South Wind is located in Union City (Fulton County).
What's the larger impact:
Even though homebuilding came to a halt during the recession in the South Fulton area, Joffe Land Companies had confidence it could turn the subdivision around. Problem was, these ~700 lots within South Wind had been broken up and owned by four different banks. During 2012, Joffe negotiated separate deals with all four banks to acquire their assets.
For the period between October 2014-September 2015 in South Fulton County, South Wind was the 2nd best selling subdivision based on new homes sold.
What's next:
After purchasing, Joffe placed two national homebuilders into the community, which resulted in South Wind selling over 100 new homes per year for the past two years.
A Revival in Paulding County
What happened:
Joffe Land Companies purchased 138 developed lots from two different banks in late 2011.
Where's the property:
Highlands North is located in Dallas, GA (Paulding County).
What's the larger impact:
New home construction was practically non existent at the time in surrounding Paulding County.
What's next:
Joffe successfully sold all 138 lots within just a few years to a large national homebuilder.
Big News in Berkleigh Trails
WHAT HAPPENED:
Joffe Land Companies contracted 59 unimproved lots in Berkleigh Trails to Smith Douglas Homes, a premier homebuilder in Atlanta.
WHERE'S THE PROPERTY:
Berkleigh Trails is in Hiram, GA (Paulding County).
WHAT'S THE LARGER IMPACT:
Paulding County continues to rebound from the housing crash and was, at one time, considered the 8th fastest growing county in the nation, according to CNN Money. The explosive growth shows our economy has largely recovered and there is again a demand for new construction.
WHAT'S NEXT:
Smith Douglas Homes has closed on the first 17 lots and is under contract to close on remaining 42 lots.
The Georgian on the Rise
WHAT HAPPENED:
Joffe Land Companies contracted 42 unimproved lots in The Georgian to Mullinax Homes, a highly regarded homebuilder in Atlanta.
WHERE'S THE PROPERTY:
The Georgian is in Paulding County.
WHAT'S THE LARGER IMPACT:
Like Berkleigh Trails, The Georgian lot sales continue to prove how Paulding County has sharply rebounded from the housing crash of the mid 2000s. Builders are again looking to obtain lots in the Atlanta suburbs for new homes. Homebuyer demand has returned to Paulding.
WHAT'S NEXT:
Mullinax Homes has closed on the first 17 lots and is under contract to close on the remaining 42 lots.
Silver Comet Plantation is Booming
WHAT HAPPENED:
Joffe Land Companies contracted 65 developed lots in Silver Comet Plantation to D.R. Horton, America’s largest homebuilder. Approximately 30 raw lots are still available in phase 2 of the subdivision.
WHERE'S THE PROPERTY:
Silver Comet Plantation is in Dallas, GA (Paulding County).
WHAT'S THE LARGER IMPACT:
Paulding County home construction is booming once again, and the recession of the mid 2000s is in the rearview mirror. However, due to current lot pricing, very few new subdivisions are being developed. Due to Joffe Land Companies acquiring their assets for bottom dollar pricing, they are able to provide extremely attractive pricing to their buyers. In fact, many of the lots they are selling are still only at about half of pre-recession lot prices. Paulding home prices have returned, but lot and land prices still have room to go.
WHAT'S NEXT:
D.R. Horton has closed on the first 25 lots and is under contract to close of the remaining 40 developed lots.