The two big Pardee tracts in Carmel Valley haven’t disrupted the resale market – instead, with deliveries being so far out, they have probably helped resales which have a more-immediate occupancy.

Leucadia might be different – Shea is building enough new mid-range homes that the resale market might feel it next year.

At this location off Vulcan, Shea is building 39 houses from 2,520sf to 3,041 sf (which hopefully should start under $1,000,000), and 30 townhouses from 1,276sf to 1,575sf.  They decided not to use my suggested Train Track Estates:

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