These guys made a killing on this project – they should have re-couped all of their initial investment plus cost to finish the houses by now, and still have six lots that are free and clear. It also means that other potential bidders didn’t think they could be selling the finished product for this kind of dough:
It’s looking really good, I’m glad they got things going so quickly.
What was the tax assessment? I also really like what they’re doing to the yards….it looks really nice. I always liked the one that the partner bought the best because of the look of the inside (I love it) and that huge lot. You could fit a tennis court, a pool and have a lot of area for a lawn.
Not cheap though. McMansions to be sure, but these are McMansions done right, in my opinion.
The new tax assessment for last house mentioned is $1.7, not the $800,000 paid.
It’s Friday night – shouldn’t you be drinking with sorority girls right now?
Ya, I should be and I want to be. But I’m not feeling too well tonight and I have a lot of work to do tomorrow. I have to be somewhat responsible, the quarter is coming to an end soon.
But I did drink all afternoon and right up until now with my friends next door, so I partied mainly earlier in the day.
And this site is too addicting too. I was checking it on my phone with my friends…..I can’t get away!
It’s that good.
$1.7 sounds about right….but it is higher than the other ones. I wonder if the tax man just used the sales price for the other ones, since they were actually on the open market?
They did really well here…..and they still have those lots. It’ll be interesting to see what they do with them: Sell them or build them out.
How many sales were all cash?
We see a lot of immigrant business owners and highly paid techies buying new/newer high end product for cash up in the southern SF Bay Area. A lot of money is being funneled in to real estate here from overseas.
To me those are the antithesis of the McMansion. Those are just good, old-fashioned upper-end homes. If they were McMansions they’d all be within 6 feet of each other, and offer sweeping, panoramic views of your neighbor’s compost pile.
Nice houses, horrible horrible lots! We looked into those when Barrat had them and again at a recent open house. The lots were very wide, but most of the backyards weren’t very sizeable for the house. The views, if you had one, were of El Camino Real and Palomar Airport Road. The neighborhood just feels like a mess, and it’s a shame because those homes are beautiful! Maybe they should have been built in the Ridge where it seems everyone has a panoramic ocean view!
Jim,
Are there any “Ridges with Ocean Views” still left to be built up in 92009 or 92011? Something like LaCosta Ridge in 92009 or upper-Aviara developments on Black Rail Rd in 92011? 92011 appears to be all built-up … Emerald Pointe Estates took the last available higher elevation plateu with Ocean Views. But I am not so sure about 92009.