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Category Archive: ‘Builders’

New One-Story Homes

bonsall

People suggest that if you want more value, just go out to the ‘burbs.  But how far out do you have to go to buy a new one-story house on a 1/2 acre lot with good schools in the $700,000s and $800,000s?

Pulte, California West, Shea Homes, Pardee, and Davidson all have new-home communities being built, or coming soon to the 76 corridor area between North Vista and Fallbrook:


Posted by on Jan 4, 2016 in Bubbleinfo TV, Builders, Jim's Take on the Market, One-Story | 3 comments

Golf Courses in Transition

golf

A story with great examples of golf courses being closed across the country, and many being turned into real estate developments.

From the nytimes.com:

BOCA RATON, Fla. — Weeds, crabgrass and fallen palm fronds cover the wildly overgrown greens of what was once the Mizner Trail Golf Club, its decrepit state emblematic of the fate of hundreds of golf courses around the country, many of them derisively known as “rabbit patches” or “goat farms.”

A short drive away, however, perspiring construction workers in yellow vests swarmed on a recent afternoon over the emerging structure of a 150,000-square-foot activities center, part of a $50 million renovation of the 44-year-old Boca West Country Club, home to some 6,000 residents, where fairways are newly planted and houses sell for as much as $5 million.

With the winter golf season beginning in Florida — the nation’s leader in golf courses with more than 1,000 — the extremes of failure and success point to a nationwide upheaval in the sport. It was booming when players like Tiger Woods reigned, but has since been roiled by changing tastes and economics, an aging population of players, and the vagaries of the millennial generation’s evolving pastimes.

There are about four million fewer players in the United States than there were a decade ago, according to the National Golf Foundation. Almost 650 18-hole golf courses have closed since 2006, the group says. In 2013 alone, 158 golf courses closed and just 14 opened, the eighth consecutive year that closures outpaced openings. Between 130 and 160 courses are closing every 12 months, a trend that the foundation predicts will continue “for the next few years.”

Dozens of private and public golf courses here in South Florida, and hundreds around the country, are in transition. Some courses have sought bankruptcy protection, while others have slipped into foreclosure. Many are under construction, with single-family homes and condominiums going up on land once dotted only with pin flags, sand traps and water hazards. Others have gone to seed as they await resolution of legal and zoning disputes.

Read full article here:

http://www.nytimes.com/2015/11/25/realestate/commercial/fewer-golfers-but-some-lush-courses-are-booming.html

Posted by on Dec 16, 2015 in Builders, Jim's Take on the Market, Real Estate Investing, REOs | 1 comment

Inventory Watch

San Diego affordability

New homes and resales used to offer about the same median price and affordability in San Diego.  But over the last few years, new-home pricing has jumped up substantially, eliminating some of the quality choices for buyers and delivering more demand to the resale market.

Read full report on the SD home-building market here:

Click on the link below for the complete NSDCC active-inventory data:

Read More

Posted by on Dec 7, 2015 in Builders, Inventory, Jim's Take on the Market | 0 comments

‘Drive Until You Qualify’

tj

We know that we’re running out of land in San Diego County – here’s a story from the VOSD about Americans going to Tijuana for real estate development. 

An excerpt:

“What is really misunderstood is that Tijuana is very important to San Diego. It’s actually where our affordable housing is,” said Shannon.

That is, working-class residents have already realized they can escape San Diego’s high housing costs by crossing the border.

More than 36 million people came through the San Ysidro border crossing in 2014, according to data from the U.S. Customs and Border Patrol. And the San Ysidro trolley station is also the second-most active on San Diego’s network, with about 17,955 riders daily. Given that San Ysidro is home to only 20,000 people between 20 and 60 years old, it’s a safe assumption that many of those riders come from Tijuana.

It’s an international version of what real estate agents call “drive until you qualify.” Facing unaffordability, residents fan out ever farther, trading cheaper housing for longer commutes.

In a lot of housing markets, increases in housing prices force wage increases, but that hasn’t happened in San Diego, said Erik Bruvold, president of the National University System Institute for Policy Research.

That’s partly because people can instead live in Tijuana and Temecula and work in San Diego, he said.

“Sometimes the figures for housing and housing prices in San Diego County can be a bit misleading,” Bruvold said. “They don’t help us understand how housing prices in Temecula and Baja are and how they interact with the San Diego economy.”

Much of Murrieta and Temecula were built because housing costs in San Diego pushed lower-wage residents to the area, said Greg Strangman, a developer working on a hotel project in Tijuana.

“That’s how that Inland Empire came about,” Strangman said. “And in the same way, you could have the same situation in Tijuana. It’s a shorter commute coming from Tijuana to San Diego than Temecula to San Diego.”

Read full article here:

http://www.voiceofsandiego.org/topics/land-use/small-san-diego-developers-see-a-new-frontier-in-tijuana/

Posted by on Nov 30, 2015 in Builders, Jim's Take on the Market, Thinking of Building?, Thinking of Buying? | 2 comments

Village Townhouses

1

Downtown Carlsbad has an allure mostly because it is next to the beach, plus a good walk around town is enjoyable.  But those who want to buy a home nearby have their work cut out for them – there is very little for sale.

TM is hoping to capitalize on the lack of inventory, and sell 2,100sf condos within walking distance of the village and beach that offer ocean views and a 2-car garage – for around a million dollars:

Posted by on Nov 4, 2015 in Builders, Carlsbad, Jim's Take on the Market, Thinking of Buying? | 2 comments

Carlsbad New

rranch

The new development at Cannon and El Camino Real in NE Carlsbad is taking shape, though the first move-ins won’t be until mid-2016 – and the high-enders won’t be until 2017.  But in the meantime, these houses will occupy the minds of buyers, so any sellers nearby will be affected.

In SE Carlsbad, we saw how Davidson’s Arterro tract helped to elevate prices throughout La Costa Oaks.  But those were all similar and newer McMansions – the older homes near RR will take a backseat to the new stock.

021

When first announced as a 672-home development, it sounded huge – but less than half are houses.  There are 308 single-family homes, 364 condominiums, 175,000 square feet of commercial development and 88 acres of open space including five neighborhood parks.

The condos are being called apartments, and are in the gray area on the map.  Like many builders, they are probably hoping to rent them for ten years, and then sell them later to avoid any construction-defect lawsuits.  But that high-density look will be interesting right in the middle of higher-end houses.

4 neighborhoods

There is a little something for everyone – and that’s probably good because the builder has had over 4,000 inquiries so far:

The Ridge will be 1,600sf to 3,000sf houses, but those lots look smaller.  Prices start in the mid-$600,000s, and they will be opening in Spring, 2016.

The Vistas will be 2,100sf to 3,900sf, and start in the $700,000s, but I think most will be in the $800,000s and $900,000s.  They’ve gotten started on a piece of the existing neighborhood in the bottom right corner on the map and are taking reservations.

The Terraces will be 2,900sf to 4,600sf houses on lots that will average 6,000sf.  They will start in the mid-$900,000s, and be opening n Summer, 2016.

The Bluffs will be the big bombers on the hill, though no ocean view.  The houses will be 3,200sf to 4,900sf on lots that average 8,500sf.  Prices aren’t announced yet, but should be over a million.

footprint

You can see here that the lots in the Vistas are brief.  This is a 3,900sf house going on a lot with a 15-ft. backyard – max.  It is 11.2-ft on the other side, and I think that includes the slope.  The price is $934,995.

15ft backyard

Click on the photos to enlarge the images.

Posted by on Oct 9, 2015 in Builders, Carlsbad, Jim's Take on the Market | 5 comments

Designer-Brand Condos

Hat tip to daytrip for sending this along:

http://tinyurl.com/lkswwop

Excerpts:

SUNNY ISLES BEACH, Florida (AP) — The wow factor for Miami’s skyscraper condos no longer comes from a dazzling Atlantic Ocean view.

It takes something more audacious to sell beachfront property these days to the global ultra-wealthy who arrive in Miami with millions to spend on second or third homes. It takes words invested with meaning in the language of the international jet set:

Porsche. Giorgio Armani. Fendi.

With a slew of residential and hotel developments, Miami is embracing the notion that homes, like cars, handbags and jewelry, should carry luxe designer labels. The trend has spread from Europe, Asia and the Middle East, where developers discovered a few years ago that luxury-branded hotels and homes could command huge premiums that the moneyed set would happily pay.

The pull is so powerful that developer Gil Dezer’s Porsche Design Tower is mostly sold-out, even though construction won’t wrap until early 2016, meaning that most buyers committed millions based on blueprints.

Shaped like a piston driven into sand, the concrete-and-glass Porsche Design Tower will contain three car elevators. Each can whisk a convertible up 60 stories and then slide it into the owner’s personal steel-reinforced garage. (The owner can stay in the driver’s seat.) Inside the apartments, curved windows capture a vista of waves billowing from a midnight blue into a pale green along the shore.

“People look at these apartments as bank accounts,” Dezer said.

Read full article here:

http://tinyurl.com/lkswwop

Posted by on Apr 2, 2015 in Builders, Market Buzz, The Future | 6 comments