Bear, your welcome, Marlo is quite the compliment as well, but I aspire to be the Stringer Bell of Temecula.
Paramount, wait till you see the whites of their eyes, they will be dealing or going out of business soon, Stan Pac doesn’t have much life left in them anyway, junk bond status lowered last week, $2 a share, I seriously think Wolf wont get completed. Either way the repos will drive them down. You can already get this in Wolf $118 a sq ft. repo w/granite and stainless, sub 400k.
Marion, I never got that e-mail but if it is 1532 sq ft condo I know it’s probably old schoolhouse or Arboretum plan 2, there is an identical complex in Redhwak called Auberry, same builder, floorplans and colors. Repos are hitting 220k at it, so I’d look for the 1’s for Murrieta’s version real soon.
I also checked the solds in redwood and in December most of them went for 500k and some in the 4’s, only one in the 6’s and one in the 7’s, there are only a few streets done and already three are up as resale, but one delisted and I think all were on foreclosure.com recently so they will be building their 3rd street and competing with their own brown lawns. What is worse is last year Stan pac was paying your first six payments and offering 0 down, how many of those people just saw it as a free place to live. Talk about no skin in the game. I see brown lawns coming this summer. That price increase in Laurel is smoke and mirrors, they halted construction for months and now they have no inventory for a while so they pulled back the incentives, they’ll be back with a vengance. I also have noticed about half of the houses listed as resales in Wolf were delisted in a manner of weeks, most were the ridiculously priced ones but they went away nonetheless, the only solds were back to banks or super cheap. My guess is the repo process caught up with them, which will further hit the builders, patience young skywalker, the 92592 three car garage monitor just hit 65 with 3 under 300k and one at 250k, it’s on it’s way and in a handbasket.
