Real Estate: The Tractitioner

As homes in a building tract go, the new ones in Woodland West, a 1,500-unit development in suburban Fort Worth, Texas, had all the features that sell.

Woodland West had the unmistakable development look, but its houses were spaced irregularly, and had variations of external finish that enabled them to be labeled ranch, colonial, rustic or modern.

Inside there was air conditioning, wall-to-wall carpeting and dishwashers, and the price was right: $12,950 to $16,950. The builder of Woodland West did little more than dig foundations and pound nails. In everything else, from making...

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