Given that Ceres has seen little new home construction in the past several years, one would think the homes at Olive Villas would have sold like hotcakes.
But according to local real estate agent Daniel Sexton who is charge of sales, units have not flown off the shelf. As of last week, five of the 10 single-story units have sold.
Another eight two-story homes of 1,630 square feet are still in the process of construction but Sexton is unsure of the status of the unfinished units.
One issue is that four of the units are not entirely completed on the inside, said Sexton, who is the third real estate agent assigned by the developer.
“The kitchen cabinets are done, the countertops are done but it needs bathroom fixtures and flooring,” said Sexton. “It also allows the clients the opportunity to choose a color.”
The three-bedroom, two-bath homes are sized at 1,384 square feet. Sexton said that at 10 feet deep, the backyards are small which “are not for everyone.”
Buyers will also be required to pay a monthly Homeowner Association (HOA) fee of $182 currently to maintain the interior streets. Restrictions dictate that garages must be used for vehicle parking.
Sexton has been holding open houses on weekends and hasn’t heard that interest rates are impeding sales.
“I’m getting lots of feedback and people aren’t complaining about the interest rates. Honestly the interest rates have been way worse than what they are now. In fact everybody says, ‘man the price is good for right now.’”
Since the houses were built after the governmental phased out of natural gas stoves, water heaters and other appliances, the houses only have electrical service.
Solar mandates from state legislation are adding $10,000 to the price of the homes, Sexton said.
“It can be leased or paid off or some people are doing it for $459,000 and making it part of their loan,” reported Sexton.
Because the homes are so new, they can’t be mapped online. Sexton said the model home may be found on Zillow.com by searching for 2413 Olivewood Lane, Ceres.
The Olive Villas project, which is just off the north side of Hatch Road between Moffet Road and Wallin Way, was approved in 2020. The 1.67-acre site was originally intended to be the second phase of a professional office park but demand was disappointing and only three of seven office buildings materialized. It was then decided to see if the city would allow homes on the remainder of the site.
The project is connected to the Olive Woods office complex parking lot.
