Gemini Meadows is one of the newer subdivisions in the Cedar City Real Estate Market. Gemini Meadows is another Twin Home or Duplex subdivision in Cedar City’s limits. It is at the Northern edge of the City’s boundary. It is another of the subdivisions that was built during our building boom of 2007. It is also the one of the worst casualties that we have had to the ongoing financial crisis.
Many of these homes have never been lived in, and are in fact REO properties currently. A large number of building lots remain as well. I was really too bad, these were nice, well laid out units that offered a nice home for a good price.
These units are all 3 bed 2 bath units with over 1400 square feet of living space. There are currently 21 of these units for sale in our MLS. The price ranges from $99,000 to $115,000. As I mentioned, many of these homes have never been lived in and have the appliances included in the price.
Market Update 5/3/2011: As of today there are 20 homes listed for sale in Gemini Meadows. They are listed between $84,900 and $105,900. Gemini Meadows quite honestly is a casualty of the economic downturn. Only part of the subdivision was built, and now there are still some incredible bargains to be had on building lots for the right builder to come in and build out new units. This is a subdivision that still has a lot of potential! It is one of the great opportunities in the Cedar City Real Estate Market!
Market Update 12/21/2011: As of today there are homes listed for sale in the Multiple Listing Service in the Old Farm Subdivision ranging in price from $83,000 to $109,900. In the past 12 months 22 units have sold ranging in price from $82,000 to $101,000. There are still building lots for sale at $11,900, and you can buy 87 REO lots for $828,000.
As I have mentioned, Gemini Meadows was really affected by the crash in the home bubble, this is a subdivision with a lot of potential, and some great opportunities for investors or first time home buyers!
Here are some photos: