1st Inside this issue Quarter 2019 | Volume 25, Issue 97 2019 Real Estate Factors 1 2019 Real Estate Factors “Inside the Dog Pound” 2 A number of factors are in play to impact our real estate world and particu- New Listings 3, 4, 5, 6 larly the world of housing:

7, 8 SOLD 1. The Economy and Interest Rates It appears the Federal Reserve may be content that the Tax Cut Act Pinnacle Awards, Tribute 9 is enough and the economy is stable without any additional rate hikes; certainly good news for homebuilders and their prospective New and Improved Roads 10 buyers. Cowboy Wisdom Development on the go! 11, 12 2. Politics and the Run to 2020 Presidency Housing, 13, 14, 15, The trade wars and tariff changes have had an impact and the more 16 development-friendly rules changes on regulations have been a wel- come factor. Market Overview 17 Residential Expansion 18 3. Demographics The “Baby Boomers” who have been unpredictable, continue to be different than those older than them; they don’t all plan to retire and Team Dirt Dog when they do, it may not mean a home in Florida or Arizona. The other large group, the “Millennials”, have been slow to move out of their parents homes, slow to consider buying a home, and much more urban in their locational choices. Bill Eshenbaugh, ALC,CCIM Licensed Real Estate Broker Florida President/Broker 4. Affordability of Housing 813-287-8787 Ext.1 Cell 727-410-9595 Costs have gone up in all areas from land prices, impact and permit- [email protected] ting fees, labor, construction costs, materials, and tariffs and have Ryan Sampson, ALC, CCIM Principal /Broker all made housing much more expensive. 813-287-8787 Ext. 4 Cell 813-417-5928 [email protected] 5. Online-shopping and logistics

Chris Bowers, CCIM The availability to order and have almost instant delivery has dra- Broker-Associate matically changed retail habits and tremendously increased the 813-287-8787 Ext. 8 Cell 813-468-9292 [email protected] need for distribution, fulfillment, and last-mile delivery.

Jack Koehler, CCIM All of the above factors make it a continuing and challenging time to build Broker-Associate 813-287-8787 Ext. 9 Cell 813-541-4156 homes but the economy of the Tampa MSA has really strong tailwinds with [email protected] job formations. Some data firms report that about 125 people a day move Michael Strahan, ALC Masters -Agribusiness Broker-Associate to the Tampa Bay region, that finally wages are rising here, and consumers 813-287-8787 Ext. 5 Cell 850-585-8280 have confidence in our region. We’ve seen the investment market buy hotel [email protected] and apartment developments at a rapid pace and at high numbers. Auto Kristina Chutz 813-287-8787 Ext. 2 dealerships are selling and consolidating. Luxury car dealers are headed to [email protected] Pasco County as Mercedes Benz, Lexus and Audi have had great success Catherine Ruiz 813-287-8787 Ext. 7 in the upper end marketplace. These factors bode well for a continued [email protected] good real estate cycle throughout 2019.

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Inside the “Dog Pound”

From left to right: Jack Koehler, Michael Strahan, Chris Bowers, Bill Eshenbaugh and Ryan Sampson

Both Bill Eshenbaugh and Ryan Sampson were recognized by the National Realtors Land Institute (RLI) as Top 20 Na- tional Commercial Land brokers in the 2018 Apex Awards. This marks the second year in a row for Top 20 National ranking. Eshenbaugh Land Company ranked 17th in the Tampa Bay Business Journal list of the Top 25 Broker firms for our sales of $110,000,000 in 2018. March was a great month with the sale of a multi-family site on Rocky Point for $7,800,000 and the sale of 20 acres office/medical at SR 54 and Sunlake Blvd for $10,000,000, a single home development site in Plant City, and an apartment site in Manatee County for $2,665,000.

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New Listings

45.5± acres Agricultural Land on Covington Rd., Dade City https://buildout.com/website/382059-sale 12.2± acres Commercial Land on Moccasin Wallow Rd., Palmetto https://buildout.com/website/234369-sale 6.3± acres Commercial Land on Moccasin Wallow Rd., Palmetto https://buildout.com/website/234369-sale 21± acres Commercial Land on Moccasin Wallow Rd., Palmetto https://buildout.com/website/392482-sale 2.53± acres Residential Land on Van Dyke Rd., Lutz https://buildout.com/website/408951-sale 15± acres Planned Development Land on 36th Ave. E., Palmetto https://buildout.com/website/403664-sale 60± acres Agricultural Land on CR 101, Oxford https://buildout.com/website/397657-sale 3.14± acres Commercial Land on SR 56, Wesley Chapel https://buildout.com/website/378886-sale 10± acres Agricultural Rural Land on Timmons Loop, Thonotosassa https://buildout.com/website/408328-sale 4.71± acres Commercial Land on Dayflower Blvd., Wesley Chapel https://buildout.com/website/118531-sale 2.03± acres Agricultural/Single Family Land on Highview Rd., Seffner https://buildout.com/website/166646-sale .62± acres Planned Development Land on Carmen St., Tampa https://buildout.com/website/402429-sale 2.52± acres (3 Parcels ) Planned Development on Race Track Rd., Tampa https://buildout.com/website/274659-sale 83.47± acres Agricultural Land on Browning Rd., Lithia https://buildout.com/website/445991-sale 3.24± acres Commercial Land on US Hwy 41, Apollo Beach https://buildout.com/website/451732-sale 11± acres Manufacturing Land on Big Bend Rd., Gibsonton https://buildout.com/website/449149-sale

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New Listings

45.5± acres on 36607 Covington Rd., 12.2± acres on 5240 Moccasin Wallow Rd., Dade City Palmetto

Zoned AG Zoned Commercial Asking $749,000 Asking $2,125,728

6.3± acres on 5240 Moccasin Wallow Rd., 21± acres on 5240 Moccasin Wallow Rd., Palmetto Palmetto Zoned Commercial Zoned Commercial Asking $5,945,940 Asking $1,372,140

2.53± acres 3164 Van Dyke Rd., 15± acres on 2803 36th Ave. E., Lutz Palmetto Zoned Residential Zoned Planned Development Asking $150,000 Asking $2,312,000

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New Listings

60± acres on 13334 CR 101, 3.14± acres on 27186 SR 56, Oxford Wesley Chapel

Zoned AG Zoned Commercial Asking $1,250,000 Asking $1,000,000

10± acres on 9803 Timmons Loop, 4.71± acres on 5639 Dayflower Blvd., Thonotosassa Wesley Chapel Zoned AR Zoned Commercial Asking $1,695,000 Asking $300,000

2.03± acres on 3938 Highview Rd., .62± acres on 1324 W. Carmen St., Seffner Tampa Zoned ASC-1 Zoned Planned Development Asking $1,900,000 Asking $1,300,000

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New Listings

.50± acres on 12898 Race Track Rd., 1.11± acres on 12898 Race Track Rd., Tampa Tampa

Zoned PD Zoned PD Asking $750,000 Asking $1,950,000

.91± acres on 12898 Race Track Rd., 83.47± acres on 11963 Browning Rd., Tampa Lithia Zoned PD Zoned AR Asking $1,800,000 Asking $925,000

11± acres on 6408 Big Bend Rd., 3.24± acres on 5309 N US Hwy 41, Gibsonton Ruskin Zoned Manufacturing Zoned CG Asking $2,750,000 Asking $1,700,000

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SOLD

22.4± acres on Shell Point Rd., 2± acres on 11704 Hwy 301, 5.35± acres on 11706 Hwy 301, Ruskin Thonotosassa Thonotosassa Use - 76 Single-family lots Use - Business Park Use - Storage yard SOLD $1,150,000 SOLD $350,000 SOLD $75,000

.08± acres on 16164 Countyline Rd., 155± acres ON SW corner Hwy 301 and Spring Hill Crosstown, Tampa Use- Retail development Use - Mixed-use SOLD $776,000 SOLD Eshenbaugh acted as consultant

13.3± acres on Brandon Town .86± acres on US 19, 254± acres on 49th St. E., Center Dr., Brandon Hudson Palmetto Use - 225 Apts Use - Use - Residential Development SOLD $4,500,000 SOLD $60,000 SOLD $3,855,000

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SOLD

10± acres on Wilder Rd., 3.08± acres on 3015 Rocky 20± acres on SR 54 & Sunlake, Plant City Point Dr., Tampa Lutz Use - Single-family dev Use- Apartments Use - MPUD SOLD $475,000 SOLD $7,800,000 SOLD $10,400,000

14.96± acres on 5111 Oxford Rd., 4.93± acres on 9381 N. 16th St.,

Parrish St. Petersburg

Use- Apartments Use- Industrial

SOLD $2.665,191.71 SOLD $2,800,000

Eshenbaugh Land Company would like to thank all of our clients, owners and buyers who have made our success in sales possible. Thank you

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Pinnacle Awards

The annual awards for sales production recognized Bill Eshenbaugh, ALC,CCIM as #1 Top Producer and Ryan Sampson, ALC, CCIM as the #2 Top Producer for 2018 in the Regional Land Broker Category for 200+ member Florida Gulfcoast Commer- cial Association of Realtors. The Land Deal of the Year went to Jack Koehler CCIM and Michael Strahan, MAB for a complicated solar farm sale they made. This award looks at the complexity of the transaction and for exemplary service to the client. A Tribute to President George H. W. Bush

We pause to pay tribute to former President George H.W. Bush who passed away last winter. I had the pleasure of meeting him personally on several occa- sions and most of them were not political events. Rest her soul, First Lady Barbara Bush was very involved in “Celebration of Reading”, an annual event in Florida to raise money to promote reading amongst some of our most challenged citizens. My wife, Lynda Keever, who was Publisher of Florida Trend magazine, became very involved in the program as a sponsor and mentor and so we were able to meet with the former President and First Lady as well as Governor Bush through the annual fund raisers. President Bush was a gentleman and one of the most gracious people I’ve ever met. We thank him for his service as a fighter pilot, Ambassador to the UN, head of the CIA, Senator, Vice President under President Reagan and of course his term as President, United States of America.

Pictured right is then Gov Jeb Bush, Lynda Keever, Barbara Bush, Bill Eshenbaugh and President Bush.

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New and Improved Roads by Bill Eshenbaugh

Work continues on the Gandy Blvd connector to the Crosstown Expressway with the support columns in place and connectors now being lifted by cranes into place. On the Pinellas end, Gandy has been elevated over Fourthth Street and Ninthth Street so its non-stop all the way to I-275 going west. Florida Senate President Bill Galvano (R, Bradenton) is pushing for an extension of the Suncoast Highway beyond Citrus County with an extension all the way to Jack- sonville. Rural counties along that corridor aren’t happy about a new road though their rural areas. Also being revised is the Heartland Parkway, a loop road connection from I-4 in Polk County to Collier County in the southwest. Another major proposal is to ex- tend the Turnpike from Wildwood, its current northern terminus, to the Suncoast Parkway.

“Cowboy Wisdom” Talk low, talk slow, and don’t say too much “Just cause you’re following a well-marked trail don’t mean that whoever made it knew where they were goin” Always saddle your own horse Cube Smart Grand Opening @ Crossroads Brandon sold by Ryan Sampson and Chris Bowers

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Development on the go by Bill Eshenbaugh At a recent real estate seminar, Lou Placensia of The Placensia Group, a Tampa-based and nation- ally recognized hotel broker, reported that there are over 1,800 rooms under construction just on the Tampa side of the Bay. He reported that the Tampa market has very strong and improving ADR (Average Daily Rates) and increasing REVPAR (Revenue per available room). In fact, he commented “Try and find a room in Westshore Sunday through Thursday night!” In the Gateway area of Pinellas County, Fred Bullard, Jr. has an eight- story hotel under construc- tion on the site that was once Stormin’ Norman’s Club at Feather Sound on Ulmerton Road. Across the street, AG Spanos has 298 apartments under construction in Carillon. Around the corner, Allure at Gateway is under construction for 274 units and Davis Development has 270 units in the works. Tampa has several areas of exciting new growth, all happening at the same time. Even a few years ago, we might have felt they were competing with each other and our market didn’t have room for all of them to succeed. Today, the newly named Uptown District is emerging from the redo of the University Mall on Fowler Avenue on the north side of town. Neighbor USF Institute of Applied Engi- neering just announced a lease for space in a tech loft, an initial kickoff step in the right direction. SoHo Capital, the visionary developers of Armature Works, broke ground on a 100,000 square foot office building, a first in this cycle and report that at least 75,000 square feet are preleased. At I-275 and Cypress Street and Dale Mabry, Bromley Companies have initialed ground work devel- opment on Midtown. At a recent forum, they announced that they will have 400 apartments, two hotels, a Whole Foods grocery, and likely at least one office building completed in time for Super Bowl in 2021, a very ambitious schedule. On the west side of the city, BTI has been successful in developing Westshore Marina District with two major apartment developments, villas and townhouses by WCI at Inlet Park and Lennar, and the kickoff of a condo sales program. Tampa Waterstreet now has significant construction underway and added a key piece to their hold- ings with the acquisition of the ConAgra flour mill, adding ten key acres to the Vinik/Gates Strategic Property Partners holdings on the edge of the Tampa CBD. The USF Morsani College of Medicine has a 13-story building being glassed in and finish-out is under way. The grocery business has lots of exciting changes. Publix is the reigning champion but even they are focused on the future with their Greenwise stores as they face specialty competition for Lucky’s Market (backed by Krogers), Sprouts, and EarthFare. Home delivery has become a big deal. One of our team said it recently looked like one out of four shoppers were in a Publix store picking online orders for delivery.

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Housing market-through the“Pause” by Bill Eshenbaugh 2019 feels great; but why is there this underlying uneasiness? Florida con- tinues to post job gains. The number of new single family permits for the combined MSAs of Jacksonville, Orlando and Tampa make the I-4 corridor the fourth best in the nation behind only the entire state of California, Texas and Florida. Many builders report that sales are up in February, even though it was a short month and March has been strong too. Back in September, Ivy Zel- man said at her summit conference in Boston that we were going to have six to nine months of a slow down for single family but not a disaster. Looks like she’s called it right on so far. According to John Burns Consult- ants, the Tampa market for new homes was down about 9% in 2018, not bad compared to other parts of the nation. New home prices have reached $278,100, up by 24% above the last high in 2006. We keep hearing that the apartment market is getting too hot, but we have new developers showing up at least weekly. We just closed a 180-unit sale of a site on North Rocky Point and had very spirited bidding for the site. We closed an apartment site that same week in Manatee County of 168 units for $2,665,000. Two weeks before that, our team closed a site at Westfield Brandon Town Center Mall, where a retail site was converted to 225 apartment units. In keeping with our premise that the anti-growth position of the Hillsbor- ough County Commission will push housing outwards, Eshenbaugh Land Company closed a residential site in Plant City, have others under contract in Zephyrhills, and have finished lots under contract in Hernando County. Call us for additional single-family opportunities in these areas and Mana- tee County. 12

Ryan Sampson, CCIM, ALC is the Managing Principal of Eshenbaugh Land Company. With over a decade of real estate experience, Ryan has already closed more than $500,000,000 in land transactions since joining Eshenbaugh Land Company in 2005. A second-generation Tampa real estate professional, Ryan takes great pride in broker- ing land deals that lead to future development and positive growth within his community. His transactional experience ranges from single-tenant retail out-parcels to large master planned communities and most everything in between as it relates to development land. He has represented Lennar, Newland Communities, Bank of America, Soho Capital, Duke Realty, CalSTRS, StanPac, Rialto Capital, BB&T and DeBartolo to name a few. He has spoken as a land expert over the years at multiple national confer- ences and he has severed as President for a few of the local real estate chapters. New Interchange coming to I-75 and MLK in Tampa

You may be aware that the interchange at SR 56 and I-75 in Wesley Chapel has begun construction on a new “diverging diamond” interchange after the recent completion of Florida’s first “diverging diamond” at I-75 and Fruitville Rd. in Sarasota. This type of interchange is a double crossover design that helps traffic flow and reduces accidents and con- gestion, as shown in the picture below. It switches traffic to the other side of the road at the interchange, so a driver doesn’t have to cross oncoming traffic. What you may not know is that another “diverging diamond” is planned for the intersection of I-75 and MLK in Seffner. With all the east Tampa jobs at this interchange, including Sabal Park, Highland Oaks and Crossroads Commerce Industrial Park, the traffic demands are increasing. MLK east of I-75 has an annual daily traffic county of 40,500 cars and I-75 has 156,000 average annual daily traffic passing this interchange, with over 22,000 cars getting off at this exit daily. Additionally, Williams Rd., the first north-south road and east of I-75, will have two turn lanes north from MLK since traffic has picked up steadily due to the newly completed Crossroads Commerce Industrial Park of over 600,000 SF. With all of this construction, we would be remiss not to share that we have an ideal site available for sale at the north east corner of the lighted intersection of MLK and Williams Road. This site is zoned for up to 78,500 SF of commercial uses on 9 upland acres (15.34 acres total). The seller would subdivide the parcel at $23/SF and has retained access points on both MLK and Williams Road. Should you be a retail, office or hotel developer looking for a excellent site, we would strongly urge you to consider this site. For a bulk sale, the seller is asking $3,500,000 and he is motivated to sell.

Diverging Diamond Example Available Retail Site MLK/I-75, Tampa 13

Chris Bowers, CCIM joined Eshenbaugh Land Company in 2012, bringing specialized retail knowledge and a balanced developer’s perspective to this land-focused real es- tate brokerage team. Over the course of his career, Chris has been involved in the ac- quisition and sale of more than $400 million in real estate assets. A second-generation real estate professional, Chris says being involved in deals that make a positive impact on a community’s growth is what gives him the greatest sense of pride. He continually monitors real estate trends across all land-use types to bring these insights to clients served by the firm. “As land brokers, we need to know a little about everything.” Chris graduated from Florida State University in 2005 with a bachelor’s degree in Real Estate and Finance.

Infill Development is Hot

Infill development is in demand. If you have an infill development site you are looking to sell, please contact me and I can sell it. We recently closed on two infill apartment sites in the Tampa Bay Market. One sale was for some of the last remaining vacant land parcels at the Brandon Mall and the other site is the last piece of vacant land on Rocky Point. If you are looking for infill development sites check out two of my new listings below. We just listed the last remaining developable sites within the Hampton Lakes development in Westchase, located at Race Track Road and Country Way Boulevard. We have 3 parcels ranging from .5-1.11 acres and they are zoned for high density with zero setbacks and with heights up to 65 ft. Plus, the zoning allows for a variety of different uses from residential to commercial. Mixed use is encouraged, drive-thru’s are permitted and the sites are shovel ready. Another area that has been hot for infill development is north of Kennedy Blvd. in an area known as Noho (North of Howard Ave.). The area is filling up with retail, apartments and townhouses. We have a .62 acre site located at the corner of Carmen St. and Oregon Ave. that is zoned for up to 13 townhouses. The site is ready for development and in the middle of all the growth. Please contact me at 813-468-9292 if you would like additional info on either of the properties above or if you have some infill land you are looking to sell.

3 Parcels at Hampton Lakes Planned Development on Carmen Street

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Michael Strahan, ALC, MAB, graduated from the University of Florida with a Bachelor of Science degree in Agricultural Operations Management and a Master of Science degree in Agribusiness. Michael is a licensed Real Estate Sales Associate in Florida and a fourth generation Floridian and resident of Tampa. Michael began his post-graduate work with Rainbow Flowers Imports. Beginning as an intern, he worked his way to the top of the company and within two years was running the day-to-day operations. Once in charge, sales grew 12% annually. Michael brings a strong agricultural background to the Eshenbaugh Land Company and he is active in the real estate community. He is a member of Florida Citrus Mutual, Florida Cattlemen’s Association, SOREP (Society of Real Estate Professionals), Real Estate Investment Council and the Florida Farm Bureau- Hillsborough County. Florida Agriculture & Mexican Imports

In February, I attended the Florida Agricultural Policy Outlook Conference. The topics ranged from medi- cal marijuana to technology in agriculture. The discussions regarding industrial hemp and medical mari- juana were likely the main reason for the large turnout. However, the Florida Agriculture and Trade Agreements portion was the most eye-opening for me. It’s no secret that Mexican imports are a major problem for Florida agriculture. One reason that Mexico is a direct competitor is that we have virtually the same marketing window. Over the last decade, Flor- ida’s crop production and market shares have declined steadily. Over that same period of time, Mexican imports have increased dramatically. There are numerous reasons as to why Florida agricultural producers are losing the competition against Mexican imports. One reason is NAFTA. The trade agreement enacted in 1994 has been a disaster for Florida farmers. Secondly, labor costs in Mexico are significantly lower than Florida. For instance, each box of tomatoes has a labor cost of $2.80 in Florida. In Mexico, the labor cost for a box of tomatoes is $1.75. Also, Florida’s minimum wage has risen steadily since 2004. In terms of peso per hour, Mexico’s minimum wage has increased every year since 1996. However, since 1992 on a per dollar basis, Mex- ico’s minimum wage has remained flat. This is a prime example showing the devaluation of the Mexican Peso. Lastly, the Mexican government strongly supports their agricultural industry. For instance, they have 11 different agricultural support programs. Only time will tell if Florida agriculture will be able to keep weathering the storm of imports from Mexico. Fortunately, there are some possible solutions that could help. First, address the subsidies provided by Mexico’s government. Secondly, fix the H-2A (Temporary Agricultural Workers) program. The H-2A pro- gram allows US employers or agents to bring in foreign nationals to the US to fill temporary agricultural jobs. Lastly, pursue anti-dumping investigations. The Florida Tomato Exchange has requested to abol- ish the tomato suspension agreement and is pursuing its anti-dumping investigation against Mexico’s tomato industry. The Florida Strawberry Growers Association is looking into its own case too.

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Jack Koehler, CCIM brings his variety of experiences and extensive knowledge to every potential deal to help him better serve buyers and sellers. As a licensed real estate broker- associate and a second-generation Tampa real estate professional, he is drawn to all aspects of development and has been involved in land transactions across Central Florida totaling over 1,800 acres. Jack began his career in real estate as a financial analyst with Sage Partners, LLC, a tax credit developer whose principals have developed over 12,000 affordable housing units. Through this unique path, he gained valuable experience in many aspects of development, including operations analysis and reporting to equity partners and lenders. His experience extends also to the construction business where he worked as an Assistant Superinten- dent with First Florida Building Corporation. Jack graduated from the Business Administration program at Auburn University. He’s an active member of Real Estate Investment Council (REIC), Urban Land Institute (ULI), Realtors Land Institute (RLI), and serves as Secre- tary for the Florida CCIM West Coast District. Jack has received the designation of Certified Commercial Invest- ment Member (CCIM) and is currently pursuing the designation of Accredited Land Consultant (ALC). Demand for Land Remains Strong

At nearly every industry event I attend, I hear the question posed: “Where do you think we are in the cy- cle?” My answer, in short, is “Who knows?” I have heard answers from economists and industry pro- fessionals ranging from “The end is near!” to “The end is not in sight”. Regardless of where we truly are in this cycle, there is no doubt that the Tampa Bay land market remains hot. This past quarter, our firm closed over $75 million in land transactions, surpassing our total sales for all of 2017. These sales cover a number of development types such as multifamily, residential, industrial, and retail. Though some segments are stronger than others, we continue to see a healthy demand for well-located land for all development types. Our biggest hurdle to successful transactions, however, remains over-pricings. Regardless of location, properties that are priced accordingly are selling. If the seller is reasonable in their pricing expectations and willing to allow a buyer adequate time for inspection and approvals, the transaction has a high probability of success. We do, however, see some sellers holding on for a miracle buyer at an unrealistic price. Some may have bought in the last cycle and are hoping to recoup all of their original investment. Others may have had a property handed down to them from an earlier genera- tion and hold sentimental value in the property. No matter what the situation, these sellers need to be prepared for a long-term hold if the property fails to sell and the cycle passes them by. As they say, “Strike while the iron is hot”. If you are a serious seller looking to monetize your land asset, now is the time to strike. Land prices are likely at their peak and how long they will maintain is uncertain. At no cost to you, our team can prepare an opinion of value and full marketing plan for your property. If selected as your broker, we will work hard to ensure you receive the most for your asset in the shortest amount of time possible and protect your interests every step of the way.

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Market Overviews by Bill Eshenbaugh At a recent market update, Metro Studies reported that the Tampa MSA has had 99 months of job growth and the home values are now higher than 2006, the last great peak in value. 440 new people a day are moving to the I-4 corridor and if the permits for Jacksonville, Orlando and Tampa MSAs were combined, we’d have more permits pulled than any states other than California, Texas and Florida. Finding help to fill the open jobs is a major challenge for builders and land developers. Tampa MSA has 53,790 job open- ings. Wages are up 111% of 2006 and the market has Lennar and Horton commanding 42.5% of the new home sales. Available developed lots has about a 20-month supply in Pasco County and 16.9 months in Hillsborough. It seems in- credible, but Starkey Ranch is approaching completion as is Asturia. Metro Development is finishing the development of lots at Epperson Ranch and the Crystal Lagoon is open while next door Epperson Ranch North is in initial phase of clearing and grading. To the north at SR 52 in the new community of Mirada, Metro has about 700 homesites and another Metro Crystal Lagoon under development. In a related story, Lennar has announced their Medley 55+ community at Mirada. At the same time, Lennar announced Medley at Southshore Bay in Hillsborough County, also a Metro Crystal Lagoon community for 55+ buyers. On the commercial side, Raymond James Financial announced plans to solicit proposals from architects to design their 65-acre master-planned office campus in Wiregrass Ranch in Pasco County. They shared with their employees that they are entitled for over 1,000,000 square feet of office space in the campus. Eshenbaugh Land Company closed a sale in November 2017 in Wiregrass for an Audi dealership. Sales have been way above dealership expectations we are told and Audi Wesley Chapel just received the Magna Society Elite Award from Audi, their highest award. This dealership is the only one so recognized in all of Florida and one of four to win the award in Southeastern United States. Keep an eye out for more details on new projects dubbed Project Canopy on the T. Rowe Price site at SR 54 and Sunlake Blvd. that is a 72-acre site planned for 625,000 square feet of mixed use. There is a monster project named “Project Ar- thur” at Suncoast Parkway and SR 52 proposes 24 million square feet of corporate business park and 11,495 residential units on 6,951 acres. Both projects are in Pasco County. In Zephyrhills, Todd Vande Berg, Director of Planning, reported thousand of new homes are in the pipeline in The Dis- trict of Abbot’s Square, Zephyr Lakes, Hidden River, Silver Oaks, Silverado, and apartments at Wire Ranch and Pretty Pond. On the retail side, Chick-Fil-A, Aldo Supermarkets, PetSmart, Dollar General and Marriott Fairfield are all in the pipeline. Zephyrhills is soon to benefit from massive road work that has SR 54 being widened all the way from I-75 on the west as well as the soon-to-open new four-lane SR 56 connecting from US 301 through the initial leg of 56 at I-75 as well. If you haven’t traveled over State Route 60 to Clearwater from Tampa lately, you’ll be shocked at the rapid construction progress of Nova Southeastern University as a gateway to Clearwater. This is the major project by Dr. Kiran Patel to build a medical campus and it is at the point that they’re installing exterior glass and doing the interior finishes already. Another pleasant surprise is the rapid development of what was the Aprile Dairy site on the north-east quadrant of I-4 and US 301. Cabot has developed the first tilt-wall building of what is going to be over 400,000 ft. of the fulfillment and distribution space. Because of the urban service area constraints, this is one the last great sites along the I-4 Corridor in eastern Hillsborough County. As a further response to the lack of available land along I-4 in eastern Hillsborough County due to the refusal of County Commissioners to expand the Urban Service area east of County road 579, another massive project to build a 779,760 square foot warehouse on 63.7 acres on Wiggins Road has landed in Plant City. 17

What is an Accredited Land Consultant? The ALC is a designation offered by the Realtors Land Institute (RLI) for land brokers and agents who have demonstrated professionalism, land sales experience and a commitment to gaining education about the many facets of land brokerage. When a land professional becomes an Accredited Land Consultant, that individ- ual gains access to a unique group of real estate specialists who work together to build and share knowledge, develop trusted relationships, and expand business opportunities. All this benefits our clients. What is the CCIM Designation?

The CCIM designation is conferred upon commercial real estate leaders who have a proven record of success in the field and have demonstrated a mastery of financial, market, and investment analysis. CCIM designees come from a variety of professional backgrounds including brokerage, banking, property management, law, and accounting. A CCIM (Certified Commercial Investment Member) is a recognized expert in the commercial and investment real estate industry. The designation process ensures that CCIMs are proficient not only in theory, but also in practice. Our goal at Eshenbaugh Land Company is to have every broker-associate achieve both of these designations. Bill and Ryan hold both, while Chris and Jack hold the CCIM designation and Michael, in addition to his Masters Ag Business, holds his ALC. All are working to complete their dual designations. We believe this significant investment in education, courses Bill & Sammy on a Photo Shoot and time commitments help equip our team to better serve our clients. Residential Expansions

Lennar recently returned to Hernando County with a position at Southern Hills, the Pete Dye golf community on US 41 south of Brooksville. Lennar also acquired a major stake in the Pasco area with the acquisition of the remaining land and lots in Connerton, a community started in the early 2000’s on US 41 just south of SR 52. Long time veterans Pioneer Homes headed by George Zutes and GP Stamas have opened an exclusive master planned community of The Preservation in Lutz. This is 57 homesites in a lake community and uniquely does not have any CDD debt. A major challenge across the country is how to keep golf courses relevant and when they fail, how to transition them. Ac- cording to Bloomberg Reports, over 800 golf courses have failed across the United States in the last five years. Naturally, Florida is at the front end of this curve, given the 12,150 golf facilities that have been developed here for year-round play. Some of the recently closed courses here are Airco adjacent to Feather Sound and the Dunes in Hernando County. The Bardmoor golf course in Pinellas county could be closing soon. Wheelock Communities and Gentry Land, the developers of Starkey Ranch in Pasco, are in the rezoning phase of their potential purchase to redevelop the 150 acres into residen- tial. They have run into significant community and resident opposition so stay tuned. About five miles away, the Tides golf course has closed and is also held by a developer who is pursuing redevelopment opportunities.

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©Copyright 2019 by Eshenbaugh Land Company. “The Dirt Dog” is a registered trademark. Top Selling Communities

HILLSBOROUGH TOP 20 COMMUNITY (# OF CLOSINGS)

Carlton Lakes (Southfork Lakes) 338 Belmont 257 Waterset 221 Triple Creek 213 Ayersworth Glen 208 Lucaya Lake Club 193 Fishhawk Ranch West 192 Cypress Creek 190 South Fork 180 Oak Creek 160 Carriage Pointe South 134 Vista Palms (Sunshine Village) 127 Twin Creeks 123 Waterleaf 111 Valencia Lakes 108 Boyee Park 107 Touchstone 102 Esplanade of Tampa 92 Magnolia Park Northeast 87 Wynmere East (Hawks Landing) 86 0 50 100 150 200 250 300 350 400

PASCO TOP 20 COMMUNITY (# OF CLOSINGS)

Villages of Starkey Ranch 307 Epperson Ranch South 265 Bexley South 224 Union Park 144 Connerton Village 128 Estancia at Wiregrass 124 Ridge at Wiregrass 121 Meadow Pointe 103 Asturia 103 Talavera 93 Long Lake Ranch 80 Reserve at Long Lake Ranch (Morsani) 79 Hidden River 77 Esplanade at Starkey Ranch 75 Stonebridge (Chapel Creek) 72 Zephyr Ridge 68 Lakeshore Ranch 68 Cypress Preserve 66 Silverado 63 Watergrass 60 0 50 100 150 200 250 300 350

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HERNANDO TOP 10 COMMUNITY (# OF CLOSINGS)

Villages at Avalon 47

Royal Highlands 34

Spring Hill 26

Hill N Dale 22

Sterling Hill 21

Plantaon Palms 13

Hernando Oaks 10

Sherman Hills 10

Wellington at Seven Hills 3

Southern Hills 2

Spring Ridge 2

0 5 10 15 20 25 30 35 40 45 50

PINELLAS TOP 20 COMMUNITY (# OF CLOSINGS)

Bayside Terrace 69 Aqua Solis 38 Colonnade 23 Bayshore Heights 21 Arabella Cove 17 Cove at Loggerhead 16 Highwood Estates 15 Tuscany Woods Preserve 13 Innisbrook (Parcel F) 13 Carriage Homes at Belleview Place 10 Waterside at Indian Shores 9 Arsan Preserve 8 Townes at Belleair Grove 7 Cypress Villas 7 Tierra Verde 6 Keystone Ridge Estates 6 Anclote River Crossings 5 Enclave at Palm Harbor 4 Belleair Grande 3 Aberdeen Oaks 3 0 10 20 30 40 50 60 70 80

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MANATEE TOP 20 COMMUNITY (# OF CLOSINGS)

Del Webb 157 Esplanade 101 Willow Hammock (aka Silver Stone) 92 Del Tierra 92 Trevesta 89 Harmony at Lakewood Ranch 78 Copperlefe 77 Savanna at Lakewood Ranch 71 Polo Run 65 Arsan Lakes Esplanade 57 Villages of Glen Creek 52 Mallory Park at LWR 51 Arbor Grande at Lakewood Ranch 49 Lakewood Naonal Golf Club 47 Crosscreek 39 Country Club East at LWR 37 Coages at San Lorenzo 36 Ridge at Crossing Creek 35 Willow Walk 34 Eagle Trace 33 0 20 40 60 80 100 120 140 160 180

SARASOTA TOP 20 COMMUNITY (# OF CLOSINGS)

Islandwalk at the West Villages 235 Gran Paradiso 168 Grand Palm 141 Sarasota Naonal 116 Villages of Milano 95 Arstry 87 Esplanade on Palmer Ranch 82 Watercrest 74 Renaissance at West Villages 68 Hammock Preserve 61 Cedar Grove 60 Toscana Isles 57 Preserve at West Villages 52 Arbor Lakes on Palmer Ranch 48 Boca Royale 45 Bellacina By Casey Key 44 Promenade on Palmer Ranch 37 Shoreview at Lakewood Ranch Waterside 35 Baytown Square 30 Gran Paradiso Townhomes 27 0 50 100 150 200 250

The Eshenbaugh Report www.TheDirtDog.com Hillsborough County Lot Sales

Lot OR Bk/ Lot Closing Community Grantee Entry Date # of Lots Price Per Lot PG Price A B Hales Resub Mobley Homes 26433/1582 2/28/19 $340,000 A B Hales Resubdivision Of Lots 25&26 Mobley Homes 26332/1452 1/7/19 $415,000 Westwego Sub A Ziegler Brothers Trail Mobley Homes 26426/487 2/25/19 $75,000 1 $75,000.00

Ayersworth Glen Ryan Homes (NVR) 26476/1407 3/13/19 $38,024 1 $38,024.21 Ayersworth Glen Ryan Homes (NVR) 26347/1126 1/11/19 $253,168 6 $42,194.61

Ayersworth Glen Ryan Homes (NVR) 26339/617 1/8/19 $123,459 3 $41,153.00 Ayersworth Glen Ryan Homes (NVR) 26339/522 1/7/19 $42,875 1 $42,875.00

Bayberry Woods Ryan Homes (NVR) 26341/826 1/11/19 $274,250 5 $54,850.00

Bayberry Woods Ryan Homes (NVR) 26429/1475 2/28/19 $109,700 2 $54,850.00

Bon Air North Point Homes 26381/1974 1/25/19 $245,000

Bon Air M Ryan Homes 26328/221 1/4/19 $370,000 Highland Holdings (Highland Boyette Fields 26391/1141 2/4/19 $130,000 2 $65,000.00 Homes) Highland Holdings (Highland Boyette Fields 2 $65,000.00 Homes) 26362/97 1/24/19 $130,000 Brooker Ridge DR Horton/Express/Freedom 26400/1542 2/5/19 $2,364,105 20 $118,205.23

Buffalo Heights Domain Homes 26437/866 3/1/19 $130,000 1 $130,000.00

Buffalo Heights Domain Homes 26425/536 2/19/19 $172,500 1 $172,500.00

Carlton Lakes (Southfork Lakes) Ryan Homes (NVR) 26468/393 3/7/19 $50,000 1 $50,000.00

Carlton Lakes (Southfork Lakes) Ryan Homes (NVR) 26468/613 3/6/19 $120,000 3 $40,000.00

Carlton Lakes (Southfork Lakes) Ryan Homes (NVR) 26412/120 2/7/19 $200,000 5 $40,000.00 Carlton Lakes (Southfork Lakes) Ryan Homes (NVR) 26402/1246 2/7/19 $250,000 5 $50,000.00

Carlton Lakes (Southfork Lakes) Ryan Homes (NVR) 26336/409 1/7/19 $100,000 2 $50,000.00 Carlton Lakes (Southfork Lakes) Ryan Homes (NVR) 26336/390 1/7/19 $40,000 1 $40,000.00

Carriage Pointe I Ryan Homes (NVR) 26339/650 1/8/19 $87,000 2 $43,500.00

Carriage Pointe South Ryan Homes (NVR) 26393/30 2/4/19 $130,500 3 $43,500.00

Carriage Pointe South Ryan Homes (NVR) 26385/813 1/30/19 $43,500 1 $43,500.00 Carriage Pointe South Ryan Homes (NVR) 26360/692 1/23/19 $43,500 1 $43,500.00

Carriage Pointe South Ryan Homes (NVR) 26351/884 1/16/19 $43,500 1 $43,500.00

Carriage Pointe South Ryan Homes (NVR) 26336/590 1/7/19 $43,500 1 $43,500.00 Cartertown Domain Homes 26343/1952 1/14/19 $190,000 2 $95,000.00

Cypress Creek DR Horton/Express/Freedom 26425/1179 2/19/19 $315,025 8 $39,378.08

Cypress Creek Holiday Builders 26429/915 2/19/19 $298,667 6 $49,777.89

Cypress Creek DR Horton/Express/Freedom 26372/1240 1/25/19 $353,249 9 $39,249.86

Cypress Creek DR Horton/Express/Freedom 26372/1234 1/25/19 $340,157 7 $48,593.84 Highland Holdings (Highland Devinshire 26325/181 1/9/19 $76,000 1 $76,000.00 Homes) DG Farms South (Sereno) Lennar Homes 26480/31 3/18/19 $254,242 6 $42,373.70

DG Farms South (Sereno) Lennar Homes 26418/1642 2/15/19 $253,019 6 $42,169.86

DG Farms South (Sereno) DR Horton/Express/Freedom 26397/354 2/4/19 $380,000 12 $31,666.67

DG Farms South (Sereno) Lennar Homes 26352/1613 1/18/19 $251,915 6 $41,985.75

The Eshenbaugh Report www.TheDirtDog.com Hillsborough County Lot Sales

Fishhawk Ranch West Weekley Homes 26473/1244 3/14/19 $242,398 3 $80,799.42 Ghira Domain Homes 26475/1038 3/12/19 $57,500 1 $57,500.00

Hawks Fern Homes by WestBay 26456/452 3/11/19 $278,574 3 $92,858.00 Hawks Fern Homes by WestBay 26394/134 2/8/19 $278,574 3 $92,858.00 Hawks Fern Homes By WestBay 26337/111 1/9/19 $278,574 3 $92,858.00 Jefferson Estates DR Horton/Express/Freedom 26438/1943 2/26/19 $129,125 2 $64,562.67 Jefferson Estates DR Horton/Express/Freedom 26380/23 1/29/19 $319,817 5 $63,963.34 Jefferson Estates DR Horton/Express/Freedom 26339/1232 1/9/19 $317,750 5 $63,550.00 Kingsway Estates William Ryan Homes 26362/1211 1/24/19 $225,000 5 $45,000.00 Landings at Alafia Highland Holdings (Highland Homes) 26445/674 2/27/19 $198,000 6 $33,000.00 Legacy Ridge Homes by WestBay 26389/1126 2/7/19 $331,313 3 $110,437.78

Lucaya Lake Club Ryan Homes (NVR) 26475/1216 3/11/19 $132,500 1 $132,500.00 Lucaya Lake Club Ryan Homes (NVR) 26475/1661 3/11/19 $262,000 4 $65,500.00

Lucaya Lake Club Ryan Homes (NVR) 26461/1428 3/5/19 $49,400 1 $49,400.00 Lucaya Lake Club Ryan Homes (NVR) 26461/1139 3/5/19 $132,500 1 $132,500.00 Lucaya Lake Club Ryan Homes (NVR) 26461/1741 3/5/19 $238,614 3 $79,538.00 Lucaya Lake Club Ryan Homes (NVR) 26455/242 3/1/19 $216,444 6 $36,074.00

Lucaya Lake Club Ryan Homes (NVR) 26445/1390 2/27/19 $131,000 2 $65,500.00 Lucaya Lake Club Ryan Homes (NVR) 26445/319 2/22/19 $49,400 1 $49,400.00 Lucaya Lake Club Ryan Homes (NVR) 26428/558 2/20/19 $49,400 1 $49,400.00 Lucaya Lake Club Ryan Homes (NVR) 26414/1991 2/13/19 $49,400 1 $49,400.00 Lucaya Lake Club Ryan Homes (NVR) 26399/59 2/6/19 $216,444 6 $36,074.00 Lucaya Lake Club Ryan Homes (NVR) 26362/312 1/23/19 $74,241 1 $74,241.02 Lucaya Lake Club Ryan Homes (NVR) 26360/288 1/23/19 $49,400 1 $49,400.00 Lucaya Lake Club Ryan Homes (NVR) 26353/1494 1/18/19 $140,000 4 $35,000.00 Lucaya Lake Club Ryan Homes (NVR) 26352/930 1/16/19 $98,800 2 $49,400.00 Lucaya Lake Club Ryan Homes (NVR) 26339/682 1/9/19 $49,400 1 $49,400.00 Lucaya Lake Club Ryan Homes (NVR) 26324/1653 1/2/19 $515,516 4 $128,879.02 Macfarlane Park Domain Homes 26386/753 1/25/19 $95,000 1 $95,000.00 Map Of Campobello Domain Homes 26346/834 1/3/19 $15,000 1 $15,000.00 New Suburb Beautiful Devonshire Home 26464/27 3/12/19 $650,000 1 $650,000.00 North Riverside Domain Homes 26363/1058 1/18/19 $115,000 1 $115,000.00 Oscawana Weekley Homes 26470/705 3/8/19 $395,000 Palma Ceia Park Mobley Homes 26400/1979 2/15/19 $307,000 1 $307,000.00 Parkland Estates Javic Homes 26386/1433 1/31/19 $670,000 Parkland Estates Devonshire Homes 26335/532 1/7/19 $699,000 Replat Portion Of Lake La Vista Mobley Homes 2771/4684 3/8/19 $610,000 Simon Gonzalez Domain Homes 26363/1059 1/18/19 $61,000 1 $61,000.00 South Fork Meritage Homes 26412/1257 2/19/19 $3,790,000 85 $44,588.24 Southshore Bay (Forest Brooke) DR Horton/Express/Freedom 26425/131 2/15/19 $110,000 2 $55,000.00

Southshore Bay (Forest Brooke) DR Horton/Express/Freedom 26425/126 2/15/19 $44,000 1 $44,000.00 Southshore Bay (Forest Brooke) Holiday Builders 26352/1817 1/14/19 $689,185 12 $57,432.05

Southshore Bay (Forest Brooke) DR Horton/Express/Freedom 26339/317 1/9/19 $110,000 2 $55,000.00 Southshore Bay (Forest Brooke) DR Horton/Express/Freedom 26339/321 1/9/19 $214,000 5 $42,800.00 Sweet Water Estates (aka Huntcliff) Mobley Homes 26376/707 2/1/19 $216,996 1 $216,996.00 Sweet Water Estates (aka Huntcliff) Mobley Homes 26346/353 1/16/19 $214,957 1 $214,957.00

The Eshenbaugh Report www.TheDirtDog.com Hillsborough County Lot Sales

Talavera Maronda Homes 26478/1828 3/13/19 $304,052 4 $76,013.10 Talavera (Riverview) Holiday Builders 26435/1806 2/25/19 $76,266 1 $76,266.32 Tremont at Bay Park (aka The Lofts) DR Horton/Express/Freedom 26471/1175 3/11/19 $115,000 5 $23,000.00

Tremont at Bay Park (aka The Lofts) DR Horton/Express/Freedom 26338/1825 1/9/19 $161,000 7 $23,000.00 Triple Creek Homes by WestBay 26437/1960 3/4/19 $418,220 7 $59,745.74 Triple Creek Homes by WestBay 26389/1110 2/7/19 $325,348 6 $54,224.70

Triple Creek Homes By WestBay 26330/92 1/7/19 $362,162 7 $51,737.45 Highland Holdings (Highland Tuscany Bay 8 $30,600.00 Homes) 26443/791 2/25/19 $244,800 Twin Creeks Lennar Homes 26458/614 3/6/19 $273,000 7 $39,000.00 Twin Creeks Lennar Homes 26415/311 2/13/19 $675,000 16 $42,187.50 Twin Creeks Lennar Homes 26361/1617 1/18/19 $390,000 10 $39,000.00

Ventana Groves Centex/Pulte/Del Webb/Divosta 26449/392 3/5/19 $165,000 Villas At Twin Lakes Mobley Homes 26332/1589 1/8/19 $185,784 2 $92,892.00

Warren & Keyes Domain Homes 26475/1045 3/7/19 $62,800 Waterleaf DR Horton/Express/Freedom 26471/802 3/11/19 $215,000 4 $53,750.00 Waterleaf Homes by WestBay 26437/1970 3/1/19 $196,438 2 $98,218.91 Waterleaf Homes by WestBay 26394/248 2/8/19 $195,758 2 $97,878.99 Waterset Weekley Homes 26473/1037 3/15/19 $175,713 2 $87,856.49

Waterset Beazer homes 26474/132 3/15/19 $698,143 10 $69,814.26 Waterset Homes by WestBay 26462/407 3/13/19 $203,392 2 $101,695.97 Waterset Cardel Homes 26444/1497 3/6/19 $209,444 3 $69,814.55 Waterset Homes by WestBay 26444/82 3/6/19 $575,494 7 $82,213.47 Waterset Weekley Homes 26444/1438 3/6/19 $431,124 6 $71,854.07

Waterset Cardel Homes 26380/787 2/4/19 $208,402 3 $69,467.21 Waterset Weekley Homes 26380/1255 2/4/19 $428,979 6 $71,496.58 Waterset Cardel Homes 26325/1890 1/4/19 $207,365 3 $69,121.60 Waterset Homes by WestBay 26316/1668 1/4/19 $569,800 7 $81,400.01

Waterset Weekley Homes 26325/1576 1/4/19 $426,845 6 $71,140.88

The Eshenbaugh Report www.TheDirtDog.com Pasco County Lot Sales

Lot OR Bk/ Entry Lot Closing # of Community Grantee Price Per Lot PG Date Price Lots Asturia ICI Homes 9851/3665 1/28/19 $1,579,200 16 $98,700

Asturia ICI Homes 9851-3665 1/19/19 $1,579,200 16 $98,700

Avalon Park West Avex Homes 9857/1861 2/6/19 $190,000 5 $38,000

Bexley South Lennar Homes 9874/3739 3/18/19 $417,800 8 $52,225 Bexley South Weekley Homes 9874/1179 3/15/19 $894,300 9 $99,367

Bexley South Homes by WestBay 9872/3835 3/13/19 $334,100 5 $66,820

Bexley South Lennar Homes 9869/1946 3/6/19 $222,100 4 $55,525 Bexley South Cardel Homes 9866/481 2/28/19 $108,900 1 $108,900

Bexley South Lennar Homes 9860/2186 2/15/19 $691,900 13 $53,223

Bexley South Homes by WestBay 9857/2766 2/11/19 $318,500 5 $63,700 Bexley South Cardel Homes 9856/3440 2/8/19 $360,500 3 $120,167

Bexley South Lennar Homes 9847/2507 1/18/19 $643,600 12 $53,633

Bexley South Homes By WestBay 9844/762 1/10/19 $330,800 5 $66,160 Connerton Village Lennar Homes 9874/1472 3/15/19 $552,000 11 $50,182

Cypress Preserve Ryan Homes (NVR) 9874/2805 3/14/19 $50,500 1 $50,500

Cypress Preserve Ryan Homes (NVR) 9871/2924 3/7/19 $50,500 1 $50,500 Cypress Preserve Ryan Homes (NVR) 9867/3752 3/1/19 $40,500 1 $40,500

Cypress Preserve Ryan Homes (NVR) 9867/1872 2/28/19 $66,900 2 $33,450

Cypress Preserve Ryan Homes (NVR) 9866/1812 2/27/19 $66,900 2 $33,450

Cypress Preserve Ryan Homes (NVR) 9865/1726 2/26/19 $232,500 5 $46,500

Cypress Preserve Ryan Homes (NVR) 9860/2992 2/15/19 $50,500 1 $50,500

Cypress Preserve Ryan Homes (NVR) 9856/1992 2/7/19 $40,500 1 $40,500

Cypress Preserve Ryan Homes (NVR) 9854/3345 2/4/19 $66,900 2 $33,450

Cypress Preserve Ryan Homes (NVR) 9854/3355 2/1/19 $50,500 1 $50,500

Cypress Preserve Ryan Homes (NVR) 9851/3821 1/28/19 $66,900 2 $33,450 Cypress Preserve Ryan Homes (NVR) 9850/247 1/25/19 $40,500 1 $40,500

Cypress Preserve Ryan Homes (NVR) 9848/3528 1/22/19 $50,500 1 $50,500

Epperson Ranch South M/I Homes 9873/2633 3/14/19 $144,000 2 $72,000

Epperson Ranch South M/I Homes 9873/2641 3/14/19 $202,400 3 $67,467

Epperson Ranch South DR Horton/Express/Freedom 9873/1680 3/13/19 $312,400 6 $52,067 Epperson Ranch South Centex/Pulte/Del Webb/Divosta 9870/49 3/1/19 $559,000 9 $62,111

Epperson Ranch South M/I Homes 9861/902 2/19/19 $360,000 5 $72,000

Epperson Ranch South DR Horton/Express/Freedom 9858/352 2/5/19 $248,800 5 $49,760

Epperson Ranch South M/I Homes 9853/1709 1/31/19 $335,000 5 $67,000 Epperson Ranch South Maronda Homes 9849/2877 1/22/19 $203,300 3 $67,767

Epperson Ranch South DR Horton/Express/Freedom 9847/3937 1/21/19 $258,300 5 $51,660

Epperson Ranch South DR Horton/Express/Freedom 9842/1096 1/7/19 $197,900 4 $49,475 Epperson Ranch South M/I Homes 9841/2972 1/7/19 $216,000 3 $72,000

The Eshenbaugh Report www.TheDirtDog.com Pasco County Lot Sales

Hidden River Lennar Homes 9859/2664 2/15/19 $162,300 5 $32,460

Hidden River Lennar Homes 9854/3547 2/5/19 $4,965,000 2 $2,482,500 Hidden River Lennar Homes 9847/783 1/18/19 $643,600 9 $71,511 Lake Jovita Golf & Country Club DR Horton/Express/Freedom 9855/1844 2/5/19 $275,000 5 $55,000 Lake Jovita Golf & Country Club DR Horton/Express/Freedom 9873/1624 3/14/19 $220,000 4 $55,000 Eastpointe Lakeshore Ranch William Ryan Homes 9871/1382 3/8/19 $187,600 4 $46,900 Lakeshore Ranch William Ryan Homes 9845/1754 1/15/19 $137,000 3 $45,667 Lakeside William Ryan Homes 9847/528 1/18/19 $148,500 3 $49,500 Manors at Lake Padgett Mobley Homes 9858/1318 2/13/19 $252,000 1 $252,000 Mirada (Cannon Ranch) Maronda Homes 9873/3897 3/8/19 $225,000 3 $75,000 Silverado Lennar Homes 9868/3755 3/6/19 $260,000 5 $52,000 Silverado Lennar Homes 9863/1679 2/20/19 $260,000 5 $52,000

Silverado DR Horton/Express/Freedom 9855/3519 2/4/19 $499,400 12 $41,617 Silverado Lennar Homes 9847/745 1/18/19 $156,000 3 $52,000 Starkey Ranch Homes by WestBay 9867/928 3/1/19 $1,650,600 21 $78,600 Highland Holdings (Highland Stonebridge (Chapel Creek) 9860/2649 2/19/19 $41,000 1 $41,000 Homes) Highland Holdings (Highland Stonebridge (Chapel Creek) $41,000 Homes) 9851/795 1/28/19 $41,000 1 Highland Holdings (Highland Stonebridge (Chapel Creek) $41,000 Homes) 9843/3484 1/9/19 $41,000 1 Highland Holdings (Highland Stonebridge (Chapel Creek) 9843/3616 1/9/19 $41,000 1 $41,000 Homes) Union Park DR Horton/Express/Freedom 9875/678 3/18/19 $552,000 11 $50,182 Union Park DR Horton/Express/Freedom 9870/794 3/5/19 $1,140,000 20 $57,000

Union Park DR Horton/Express/Freedom 9859/1102 2/12/19 $440,100 14 $31,436 Union Park DR Horton/Express/Freedom 9859/2652 2/11/19 $337,500 6 $56,250 Union Park DR Horton/Express/Freedom 9855/1633 2/4/19 $744,000 13 $57,231

Union Park Lennar Homes 9853/1612 2/1/19 $476,000 7 $68,000 Union Park DR Horton/Express/Freedom 9844/75 1/10/19 $313,500 10 $31,350

Union Park DR Horton/Express/Freedom 9843/2674 1/9/19 $432,000 8 $54,000 Union Park DR Horton/Express/Freedom 9841/3510 1/7/19 $281,300 5 $56,260 Watergrass DR Horton/Express/Freedom 9875/3571 3/20/19 $354,000 8 $44,250 Watergrass Taylor Morrison 9874/3879 3/18/19 $177,500 2 $88,750 Watergrass Vitale Homes 9874/995 3/14/19 $76,900 1 $76,900 Watergrass Vitale Homes 9868/2900 3/1/19 $76,100 1 $76,100 Watergrass Vitale Homes 9856/2049 2/4/19 $152,100 2 $76,050

Woodlands At Longleaf Homes by WestBay 9872/3821 3/13/19 $247,100 3 $82,367 Woodlands at Longleaf Homes by WestBay 9857/2792 2/11/19 $164,800 2 $82,400 Woodlands At Longleaf Homes By WestBay 9844/810 1/10/19 $247,100 3 $82,367

Zephyr Ridge DR Horton/Express/Freedom 9872/1308 3/13/19 $314,700 8 $39,338 Zephyr Ridge DR Horton/Express/Freedom 9858/3446 2/13/19 $196,000 5 $39,200 Zephyr Ridge DR Horton/Express/Freedom 9845/3698 1/16/19 $312,600 8 $39,075

The Eshenbaugh Report www.TheDirtDog.com Manatee County Lot Sales

# of Community Grantee Lot OR Bk/PG Entry Date Lot Closing Price Price Per Lot Lots Greyhawk Landing West Sam Rodgers Homes 2772/1067 3/7/19 $247,300 3 $82,433.33 Greyhawk Landing West Sam Rodgers Homes 2768/6661 2/14/19 $286,300 4 $71,575.00 Greyhawk Landing West Sam Rodgers Homes 2764/6320 1/11/19 $82,500 1 $82,500.00 Moss Creek Weekley Homes 2771/2557 3/5/19 $570,500 Moss Creek Weekley Homes 2763/7575 1/9/19 $81,500 1 $81,500.00 Summerwoods M/I Homes 2770/6760 2/22/19 $1,131,300 25 $45,252.00 Summerwoods M/I Homes 2766/3626 1/23/19 $226,300 5 $45,260.00 Summerwoods Ryan Homes (NVR) 2765/4796 1/23/19 $56,000 1 $56,000.00 Trevesta Centex/Pulte/Del Webb/Divosta 2770/4260 3/1/19 $664,800 12 $55,400.00 Trevesta DR Horton/Express/Freedom 2768/4171 2/14/19 $441,000 7 $63,000.00 Trevesta Centex/Pulte/Del Webb/Divosta 2764/1435 1/11/19 $96,400 2 $48,200.00 Twin Rivers M/I Homes 2771/6136 3/8/19 $293,300 4 $73,325.00 Willow Hammock (aka Silver Stone) DR Horton/Express/Freedom 2768/5000 2/13/19 $600,000 14 $42,857.14 Willow Hammock (aka Silver Stone) DR Horton/Express/Freedom 2763/7642 1/10/19 $300,000 6 $50,000.00 Willow Walk Maronda Homes 2770/4382 2/28/19 $364,000 7 $52,000.00 Willow Walk Inland Homes (IH Central) 2769/5593 2/22/19 $323,000 6 $53,833.33 Woodleaf Hammock Meritage Homes 2769/5815 2/21/19 $1,430,000 26 $55,000.00 Woodleaf Hammock M/I Homes 2768/3512 2/15/19 $7,656,000 87 $88,000.00

The Eshenbaugh Report www.TheDirtDog.com Sarasota County Lot Sales

Lot OR Bk/ Entry Lot Closing # of Community Grantee Price Per Lot PG Date Price Lots

Bradford Manor Townhomes Highland Holdings (Highland Homes) 2019021531 2/21/19 $160,000 5 $32,000.00 Bradford Manor Townhomes Highland Holdings (Highland Homes) 2019020927 2/20/19 $192,000 6 $32,000.00 Fox Trace Weekley Homes 2019013747 1/31/19 $431,000 4 $107,750.00 Heron Landing Meritage Homes 2019008694 1/17/19 $4,160,000 48 $86,666.67 Payne Park Village Weekley Homes 2019027882 3/6/19 $819,000 7 $117,000.00 Port Charlotte 2019031994 3/14/19 $24,000 2 $12,000.00 Port Charlotte Holiday Builders 2019030653 3/7/19 $7,000 1 $7,000.00 Port Charlotte Maronda Homes 2019031397 2/27/19 $11,000 1 $11,000.00 Port Charlotte Holiday Builders 2019029596 2/26/19 $6,000 1 $6,000.00 Port Charlotte Holiday Builders 2019029854 2/26/19 $7,500 1 $7,500.00 Port Charlotte Holiday Builders 2019026255 2/25/19 $5,000 1 $5,000.00 Port Charlotte LGI Homes 2019023631 2/25/19 $53,800 1 $53,800.00 Port Charlotte LGI Homes 2019027180 2/21/19 $250,000 10 $25,000.00 Port Charlotte Adams Homes 2019022114 2/15/19 $3,000 1 $3,000.00 Port Charlotte Holiday Builders 2019014740 1/29/19 $5,300 1 $5,300.00 Port Charlotte Adams Homes 2019009065 1/24/19 $3,000 1 $3,000.00 Port Charlotte Maronda Homes 2019014288 1/22/19 $15,000 1 $15,000.00 Port Charlotte Holiday Builders 2019014039 1/17/19 $15,000 1 $15,000.00 Port Charlotte Holiday Builders 2019014764 1/15/19 $5,000 1 $5,000.00 Port Charlotte Holiday Builders 2019004110 1/8/19 $4,000 1 $4,000.00 Port Charlotte Holiday Builders 2019004802 1/8/19 $11,200 1 $11,200.00 Port Charlotte Maronda Homes 2019004471 1/2/19 $11,000 1 $11,000.00 The Landing (Fox Creek) DR Horton/Express/Freedom 2019015158 2/6/19 $2,789,400 35 $79,697.14 Worthington M/I Homes 2019026203 2/22/19 $1,794,000 15 $119,600.00 Worthington M/I Homes 2019008773 1/23/19 $239,200 2 $119,600.00

The Eshenbaugh Report www.TheDirtDog.com Hernando County Lot Sales

Community Grantee Lot OR Bk/PG Entry Date Lot Closing Price Cascades at Southern Hills Inland Homes (IH Central) 3654/979 12/20/18 $51,000

Royal Highlands Maronda Homes 3631/1611 10/5/18 $8,000 Royal Highlands Maronda Homes 3631/1626 10/5/18 $28,000 Royal Highlands Adams Homes 3632/0417 10/11/18 $24,800 Royal Highlands Adams Homes 3634/1175 10/11/18 $12,400 Royal Highlands Maronda Homes 3635/1981 10/13/18 $12,500 Royal Highlands Maronda Homes 3640/1135 10/13/18 $12,500

Royal Highlands Maronda Homes 3635/1982 10/19/18 $6,000 Royal Highlands Maronda Homes 3645/642 10/19/18 $12,500 Royal Highlands Maronda Homes 3640/1418 10/23/18 $46,000 Royal Highlands Adams Homes 3654/703 12/20/18 $12,700

Spring Hill Adams Homes 3632/0748 10/11/18 $13,900 Spring Hill Adams Homes 3635/1604 10/23/18 $87,000 Spring Hill Adams Home 3644/1809 11/21/18 $14,571

Villages at Avalon Inland Homes (IH Central) 3634/1229 10/18/18 $36,300 Villages at Avalon Inland Homes (IH Central) 3654/989 12/20/18 $45,500

The Eshenbaugh Report www.TheDirtDog.com Pinellas County Lot Sales

Community Grantee Lot OR Bk/PG Entry Date Lot Closing Price # of Lots Price Per Lot

Clearview Highlands Weekley Homes 1 $135,000.00 20465/2356 3/14/19 $135,000 Burlington Townhomes Weekley Homes 20418/1529 2/1/19 $761,400

Tierra Verde Weekley Homes 1 $225,000.00 20423/1974 2/1/19 $225,000 Tierra Verde Weekley Homes 1 $225,000.00 20423/2138 1/30/19 $225,000

The Eshenbaugh Report www.TheDirtDog.com