Pardee’s interval between phase releases over the past few years in CV has generally been 6-8 weeks.
For their new Ridge at Saratoga development, which they’ve already pushed up 2 years from the original start date, will have phase releases (at least to start) every 2 weeks!
A friend of mine asked the agents at Pardee why the big rush. He said, “Pacific Highlands Ranch (a nearby collection of subdivisions in Carmel Valley) isn’t doing well, and therefore their profits aren’t where they want them to be and i guess they think they can salvage this year by selling all of these empty lots now, as saratogas.”
Now, this sounds like a huge load of BS to me. Why are profits this year more important than how they do in 2008? And it probably is BS; obviously they’re not going to say “we’re selling now because we think they’ll be real tough to sell in 2008 because the market will probably be much softer then, and we won’t be able to get as much for them then.”
But then, I don’t really know how these things work. If anybody more familiar with such things can tell me if there’s any validity to their story (or if there’s not), I’d appreciate it.
