A personal experience with Pardee Pacific Ranch development.

Portico/Anabella neighborhood in the PR development opened in the spring of 2005. At its openning, more than 200 people showed up for the roll call. I was about #400 on the list. They released the phases fast, every two to four weeks and every phase was sold out on the same day. I had to take a vacation and dropped out of the list in August. Then this year, I went over there for some free food on Valentine’s day. Portico has about four houses for sale. One of them is about $790 with $20K incentive. Unfortunately no takers. I did not even see people inquiry about them except me.

I always think that the developers know better than us, the average Joes. They have a long institutional memory and can buy the best statistics and research possible. If they are in a hurry to get rid of their inventory, watch out.