The next release is scheduled for this weekend, and they are busting loose. Previous phases have had 4-5 houses released for sale, but this week NINE will be hitting the open market. There are dozens of people on the priority list, but none of these are canyon-front so it will be interesting to see how they do:
Plan 2 = 4,458sf
Plan 3 = 5,288sf
Plan 4 = 6,235sf
Here’s a sky photo of Carmel Valley, taken in 1989 (click to enlarge):
Here’s how it looks today:
We know that Pardee has been around the Carmel Valley area since the beginning, back when it was called North City West. They bought up almost the entire zip code, and still have a ways to go before selling out.
Circled below is roughly 320 acres that they’ve owned since 1979. No sales price was given, but the tax-assessed value for the different parcels – all zoned residential – runs $20,000 to $50,000 per acre.
There will be plenty of roads, parks, and open space – but they should be building a few hundred more homes too!
As prices rise, the inferior locations are the first to feel it – although this is an extreme example. But hey, it’s Carmel Valley!
June 10 (Bloomberg) — John Burns, Chief Executive Officer at John Burns Real Estate Consulting, discusses the influence of foreign buyers on California’s high-end real estate market and the distortion of the haves and have-nots in U.S. housing:
It is bad enough that the demand for new homes in CV is off the charts, but look how close the houses are for the money – up to $1.35 million, and no front yard landscaping either!
Bryce’s new CV listing is benefitting from the other Pardee developments nearby – it’s easier to choose between house A or B based on timing, rather than trying to decide yes or no on a single house. Here is a video tour:
There hasn’t been many times recently that we’ve seen a Davidson home for sale on a culdesac in Carmel Valley for low-$300s psf:
When every seller pushes for a higher price, eventually something has to give. Today there are 109 houses for sale in the 92130 (median LP is $1,349,000), and buyers are getting fussier:
In the comment section of the previous post we were talking about how our government insists on pushing moral hazards upon us. But some aren’t that concerned – at least not around Carmel Valley: