[quote=kcal09]I disagree, I think many people are happy to pay the MR to get a large new home. Poway does not have new homes except when you go up the mountain on Eastvale.[/quote]
HI. I concur. If you look for 4000-5000 sqft houses in Poway or scripps ranch you are looking at 1.3 mil for a 20 year old house. After actively following this market as a buyer for 2 years I think it is safe to say those short sale prices should be completely ignored. The ones in the vicinity of Serenity have been under contract and denied many times over at the prices they are listed at as short sales.
Of course you would buy a home already landscaped with a pool for the same price as a new construction without the 200k in extras that costs but like all things to good to be true the banks holding these notes aren’t allowing short sales 400k under what the owners owe.
If you want a pool sized lot, a house 4000 sqft or larger, a view and a neighborhood with neighbors close buy (if you have small children) its really the only place to look and buy. And people are buying them. The only steep discounts in to the 800’s are on properties with no view and limited yards with hilltop in the backyard. This makes sense to me as everyone buys the view lots first.
Hope this helps clarify the interest in the development. Im curious to see what Toll Bros. has as well at the ViewPoint that Brookfield recently sold.
