ok, got the price California West paid per parcel.
each lot for Monteluz was $225,000. Assuming $80/sqft cost per home, that’ll be $280,000. which means $500k cost to the builder. the builder then sells for $700k, or $200k margin per home.
each lot for Andalusia went for $215,000.
both properties were purchased by California West during the peak of the credit crunch in Oct/Nov of 2008.
California West probably figured they would have to sell these homes at low to mid $600k if the credit crunch continued to be severe. but due the government intervention, the demand return and they are able to make an additional $100k per home.
