“Just heard from a neighbor that they are listing their Foxhound Way Derby Hill Plan 1B (French Country style) in the next couple of weeks for $1.299.”
To ILoveCarmelValley:
Your neighbor may be shocked to find out that a 3476 sq. ft. Belmont on Gaylemont Ln. just closed escrow for a flat $1M right across the street from the Derby Hill development. This was a nicely upgraded, fully landscaped newer Pardee home that (IMHO) is a nicer floor plan than the Plan 1 Derby Hill. Granted that the location backed up to Carmel Mountain Rd., I don’t see how a Derby Hill Plan 1 can command a $300K premium over that. The Gaylemont Lane Belmont is a “direct comp” for your neighbor’s house, so at best, it would appear your neighbors house is worth $1.1M (give it a $100K premium for a possibly better lot location) in today’s market. It will be interesting to see if your neighbor can find a blind “knife catcher”! Good luck to him/her.
