[quote=recordsclerk]There is a remote chance that Serenity can drop to the high 700s. It will take more re-sale inventory like in the last 45 days. I just hope the listings keep coming. It also depends on what Toll Brother’s sells their homes for. They are having a VIP event on July 9 and will show the models for the first time. VIPs will have first pick at the lots released during this phase. I would assume the prices will be out that weekend also. I don’t see them undercutting Serenity in price, but the quality might be better for the same price.[/quote]
I always thought cheaper replacement developments such as serenity and montoro would go down into the 700k range, but they have really defied expectation. especially when these homes are absolutely so poorly constructed. but if you look in zillow, localguy is absolutely correct, these homes are finding buyers. a bunch of powerline view serenity homes actually went for $1 million earlier this year. (at the same time that some purchased much better Tiburon close outs for $1 million)
on the other hand, the replacement viscaya homes by city venture (the ones with minimal lots and slopes in back) did go into the mid-700k range. same thing with those davidson homes in late 08/early 09, 2-3 of them that had the same lot deficiencies also went for the mid-700k range.
this is why I wanted more specifics with kcal09. because some of what he “predicted” already happened, just not yet with serenity.
now if he is predicting fully loaded original resales from davidson, shea, and tiburon in the 700k, that would really be some way out on a limb prediction.
