Pulte’s latest new home site in Chandler – Waters @ Ocotillo opened this Saturday 12/15. Although it was one of those very rare raining days here in the Sun Valley, people were all over the 4 brand new model homes.

I myself alone registered 6 clients in the first day, let alone there are many other agents who brought in their clients for this long waited community in the desired Ocotillo neighborhood. With the introduction of Waters @ Ocotillo by Pulte Homes, the Ocotillo master plan will be built out by the end of 2013.

Waters @ Ocotillo has 2 series priced from $359,990 – $510,990. These are just the base prices and Pulte is asking for $39,750 – $82,000 lot premium for those waterfront lots. These prices are for the 12 lots released this weekend. The new prices will be higher in the next release which is expected in the middle of Jan 2013.

The prices for Water @ Ocotillo are already high comparing to Maracay’s Stonefield just one mile North. Maracay just closed its sale office as I helped my client purchased the very last lot 2 months ago. With the waterfront lot and average 7,200 sf lot for the Cactus series and 10,000 sf lot for the Majesty series, these homes will for sure pump up the home prices in the Ocotillo neighborhood.

Now, a very special way Pulte has implemented to manage the high demand of this community is to award lots to the “highest and best” offer. It’s like those REO homes and Pulte will collect all offers to any released lots over the weekend and cut off at 12:00 PM Wednesday. So that’s about 4 days and half leave the lots on the market to solicitae all possible offers. Then Pulte will review all offers till Friday to inform the winners. There is no lottery nor first come first serve. All will be depended on Highest the offer and Best the terms such as full cash without contingent.

It will be very interesting to see how it plays out this “highest and best” practice. I will be monitoring this implementation very closely and so will many other builders.