During the last few years of the real estate market, it has been tricky to determine the value of Richmond new homes. The difficulty lies with the homes that have fallen into distressed situations and have either faced foreclosure or have been foreclosed. The downward pressure on prices has affected neighborhood homes and been tremendous on home valuation — except in one small pocket of Richmond’s West End.
In this stable real estate pocket there is a neighborhood called Westcott at Grey Oaks. Composed of new homes by Boone Homes, Westcott at Grey Oaks has maintained high values because the neighborhood is building a luxury estate home that cannot be duplicated in Richmond. The location of Westcott at Grey Oaks places the homeowner in the heart of Short Pump: a district with the finest schools and near the central nervous system of transportation byways. (more…)