The top-of-the-line Pardee tract in Carmel Valley opened this weekend, and they had hundreds of people show up. The first release had eight homes available, starting in the $1,700,000s, but prices go up quickly from there:
With so many homes being built in Pacific Highlands Ranch, the Solana Beach school district is struggling to catch up. They need to build a new elementary school, or expand the existing ones. It looks like they are a little short on funds to build a new school (would they bump the Mello-Roos?), or instead they could bring in more portable classrooms:
A good example of today’s market conditions. At first, you would think a bank-owned house in the prime Derby Hill community in Carmel Valley would garner a lot of attention, and sell quickly. But this one isn’t tricked out with extras, and it’s not a canyon lot either.
Like most sellers, they added a little mustard to their list price – but they were on the market for 55 days before finding the buyer:
Here’s a tour of a popular 3,377sf floor plan in the gated Santa Barbara tract by Pardee in Carmel Valley. This closed for $1,450,000 last week, and the agent noted that there was $50,000 in water damage, which probably accounted for the discount off the list price.
Beginning in the 1980s, Pardee Homes developed almost all of Carmel Valley, and now they are down to the last remaining parcels. For some reason, they sold off 69 prime lots to Toll Brothers, and now plans to go head-to-head with them with their neighboring tract next door.
There was a time when people commented on this blog that PHR was so far out that it was more like Penasquitos Highland Ranch. But Pardee plowed through the land they’ve held for decades and now they’re down to the last few acres.
Toll Brothers has five floor plans, with two of them being one-story layouts. The one-story homes range from 4,542sf to 4,765sf, and the two-story plans start at 5,945sf. Prices range from $1.9 to $3.2 million. This past weekend was the grand opening, and they have sold seven of the 16 available.
Think the market is tanking? They had 500+ people attend this weekend.
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