Increase in high-end home sales spark new development

By Jena Johnson - bio | email

LUFKIN, TX (KTRE) - It is a picturescue view, just insert a beautiful home and a family. Now all Temple-Inland vice president, Jim Brody needs are potential home buyers. He said he knows these are challenging times, but he feels things are good in East Texas.

"Texas has been very resilient and the Lufkin community is resilient as well," said Brody. The current status of the Texas housing market comprised with a bit of demand pushed them to complete new developments. Brody said the new development of 26 homes will complete the master plan of Crown Colony.

Right now it is just an empty field, but soon construction will start. Brody said these lots are going fast. "When we put these properties on the market, the first three sold within the first 72 hours," said Brody.

He said these high quality lots are what some East Texans are looking for. "I wouldn't say that the demand is robust, but nonetheless there is demand for high quality real estate and we think these new properties offer that," said Brody.

The new lots have an abundance of landscaping and trees, which can increase property values as much as 15 to 20 percent. "If any property is going to go up in value in today's economy, these would be the types of properties that would," said Brody.

These properties are not only a new development, but also an investment for furture home buyers.