The news surrounding Vista Verde and the pullout of Toll Brothers Inc. from purchasing the adult community north of Fountain Hills is unfortunate indeed.
However, perhaps another buyer will come along or a developer will pool resources to launch building in the area. Vista Verde was seen as the third jewel in the Verde Communities crown, following on the successes of Rio Verde and Tonto Verde.
Various factors came along, however, that impacted Vista Verde’s success, not the least of which was the Great Recession, which changed many things in this area, throughout Arizona and, indeed, in our country and world.
Nonetheless, as outlined in a story in our spring 2013 edition of the HOME guide, which is included in today’s issue of The Times, signs continue to point to an economic recovery, especially in the often volatile real estate sector. The number of “distressed properties” in Fountain Hills is steadily decreasing and the move toward a more “traditional” market is improving. Prices are creeping up – albeit slowly – and homes for sale are experiencing a shorter time on the market.
These are good signs for Fountain Hills and our economy – for our businesses, our sub-contractors, our schools, our restaurants, our clubs and organizations.
