Keep in mind that you cannot buy one of those Derby Hills homes now. They say they have a waiting list of at least 460 names from phase 6 still waiting to buy. When I saw the models, I saw throngs of people going through them (they are very nice). Folks seem to have no problem paying the $1.2-1.4m for these homes. Now Pardee’s cheaper developments (Saratoga, Pacific Highlands) aren’t doing nearly as well… they’re starting to offer incentives. So the top end seems to be doing pretty well.
I was also wondering why they’re rushing to sell those new homes (Ridge at Saratoga). The sales guy said they’d be selling all phases in a short period, with move in for the summer (4+ months). This contrasts with Derby Hill which is going at 6 weeks per phase offer, 8 months to build.
