In Farmington, two communities are close to Heritage Glen: a development of large luxury homes for people over 55, and a set of three small streets with smaller homes. Data and commentary from Edward Hybner, Assistant Town Assessor, tells us that both neighboring communities saw the values of their homes remain the same or appreciate after Heritage Glen was built, as shown in the graph below.
Mr. Hybner, Farmington's Assistant Assessor, described trends in the value of homes that directly abut Heritage Glen as neutral to positive. Two small streets of starter home-sized single-family detached houses border Heritage Glen, of which five homes have been sold between 2007 and 2011.
Mr. Hybner stated that these five homes, and their sale prices, represent the typical sales activity of homes adjacent to Heritage Glen. Each of these homes sold for a price greater than the value at which they were assessed in 2007.
Mr. Hybner noted that these home sales took placed during an economic recession, yet their previous owners were still able to sell them for a price greater than their assessed value. This gain shows that these homes’ values were not significantly affected by directly abutting Heritage Glen.
A Deeper Look Inside Heritage Glen
Has Heritage Glen been a success? Take a look at what the experts and statistics tell us about the following issues in this mixed-income community:
Read more about the quality of life inside Heritage Glen's mixed-income community:
Links to additional information about Mixed-Income Communities: