by Jim the Realtor | Dec 4, 2009 | Builders, Jim TV, Shadow Inventory, Thinking of Buying? | 11 comments
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Americans are holding on to their homes longer, and that is helping drive house prices to near record highs
The typical homeowner in 2020 had remained in place for 13 years...well ahead of 2010’s reading of 8.7 years
$ITB $XHB $HD $LOW
https://www.wsj.com/articles/housing-market-stays-tight-as-homeowners-stay-put-11611226802?reflink=desktopwebshare_twitter via @WSJ
Extended monthly so it doesn't seem permanent: https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Extends-Foreclosure-and-REO-Eviction-Moratoriums-1192021.aspx
Ending the step-up basis on inherited homes would benefit brokers, as would a $15,000 tax credit proposed by Biden for anyone buying a home after not owning one for three years. President Joe Biden’s real estate checklist https://therealdeal.com/miami/2021/01/20/president-joe-bidens-real-estate-checklist/?utm_medium=social&utm_source=twitter&utm_campaign=single_content_share
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Construction jobs a comin’ to C-bad!
I read again today on Yahoo the recession is over! Yippee! The sound of earth movers in reverse is not a lot different than vacant homes fire detectors beeping! Thats a funny little corner there where Lyon is taking over and Davidson is building. Its actually LaCosta Greens HOA there even though its detached from the main part of LCG and attached to Bressi.
LC Ridge HOA’s are a joke. $250+ for no pool, clubhouse, or anything else. Some nice homes up there, though.
Jim, I know Bressi Ranch is often the punchline on this blog and others, but how bad can it be? I’ve seen an interior and it looked nice to me. Carlsbad schools too. There’s some huge discounts in there – much more than surrounding neighborhoods. How do you rate Bressi vs Rancho Carillo, LCG, LCV, LCO, etc.? Is LCV $150-200k better?
in this case the new builder has done their homework.
they are looking at just $118k per lot. at $100/sqft, a 3500 sqft home would cost them $468k!
and they’ll try to start at $600k, even if they have to go down to $560k, they’ll still clear $100k per home.
are you telling me people would not want a 3500 sqft home with Carlsbad address for $560k?
They are also starting to breakground on a new master-planned development at El Camino and College in Carlsbad–Builders obviously think today’s demand is enough to absorb all of this new product:
http://news.yahoo.com/s/prweb/20091203/bs_prweb/prweb3289634_1
Your tone really changed once you bought a house ocrenter. Great blog back in the day though.
I was never a permabear. the tone never changed, $170/sqft for Carlsbad, even with San Marcos schools, is a very decent deal.
Fair enough, I’ll give you that. If I could pick up a new 3500 sqft house in the mid 5’s I’d probably do it. Assuming the builders are resigning themselves to 20% margins.
$170/sqft for Carlsbad, even with San Marcos schools, is a very decent deal.
Hell yeah it is. We’re talking sanity, California-style.
Could this be the community that Lyons just took over near Bressi Ranch?
http://sandiego.lyonhomes.com/homes/community.php/Miraval_at_La_Costa_Greens.html?c=341
Those new Carlsbad areas including Bressi off Pointsettia are too wanna-be pretentious. I wouldn’t spend $550K for a $3500 house in that area. They’ll end up getting bid up anyway. For that price they can have them.