nothing. Seriously. There is an article posted here by someone that was in the Union tribune on May 13 that stated some builders have took small losses to pull out of Del Sur.

Del Sur is quickly becoming what the monorail did. All hype to the build then years after it was never used and ll of the surrounding land was nothing but dust and debris.

I think they’re kinda/sorta selling what they’ve got. They just keep lowering prices until things sell. Sounds good unless you’re the guy who bought in October, or December, or last week…

They’re also trying to finish building everything in the already planned phases. For a while, they were trying to control inventory and maintain prices, but now I think it’s get it built and sold before they need to reduce prices further.

It also sounds like it’s true that Fred Maas is having a hard time getting anyone to pay for any more dirt. I’ve heard several times that builders have let their land options go and nobody else is picking them up.

Sounds like it’s going to look a lot like it does right now for some time to come.

sdcellar,

Thanks for the info. Where did you get this information ? Also, who is Fred Maas ?

sdcellar, I would also like to know where you get your information as well. Sounds like it’s too good to be true. But if it’s true, this will definitely start the snow ball rolling.

I’m no insider if that’s what I’ve got you guys thinking. I’ve just been following Del Sur for a while and these are just things I’ve picked up when talking to folks who work there.

Several times I’ve heard (or overheard) references to lots that haven’t been picked up, or were going to be picked up by such and such, but the particular builder backed out. I’ve heard this at the Ranch House and at specific builder’s offices. It’s kind of interesting what they’ll talk about thinking no one’s listening or understands what they’re saying.

I first learned the term “cans” at a model home. That’s short for cancelations and I first overheard it while waiting for the salesperson to get off the phone (most likely with someone else within their company). Needless to say, the “cans” were surprisingly high compared to “closed”.

Don’t get me wrong. I’m not even trying to eavesdrop. It’s just like with cell phones where you can’t help but hear what people are yacking about sometimes. Other times, they’ve said things directly to me, which kind of blows my mind sometimes.

Also, I think ocrenter of BMIT fame might have more detailed insight into some of the Del Sur land option situation.

On the other question, Fred Maas is the CEO of Black Mountain Ranch LLC, the master developer of Del Sur. He’s quoted on the topic recently.

I just drove through there today while waiting for my son’s wrestling practice to end…I was following several cars into Del Sur, I thought “wow, a lot of people going that way.” But alas, only one car turned into Del Sur, the rest were avoiding the I-15 traffic by using Camino Del Sur, which now goes all the way to Rancho Bernardo. Not a lot going on there, though.

The crazy thing is that when Del Sur was first announced, some communities pre-sold out of the first releases. people were willing to buy without ever looking at the model. They simply plopped down $800k for a 2000 sqft home sight unseen. Wow fast forward 2 years and thigns have changed dramatically. Sucks to be them. Del Sur will soon become a huge shopping mall IMO. There is nothing in that area so a WestField mall will workout.