Rustico: Thanks for the compliments. On the topic of building, we have a new custom built home going up right down the road from where I am and I keep musing about who would build in this market.
There are a trio of custom built homes on Mission Road (the main drag in Fallbrook) that have been sitting unsold for the better part of a year and a half. As I stated in an earlier post, there are literally thickets of “For Sale” signs in and around certain developments and neighborhoods in Fallbrook and Bonsall.
A friend of mine that works for Lockton (another big insurance broker) in LA said that the big builders (Pulte, Lennar, KB, etc) will continue to build houses on those pieces of land that they couldn’t unload or walk away from their option on. Developed land is apparently a better bet for them than empty lots.
I used to live in East County, by the way. When I had my motorcycle, I used to ride through Jamul all the time. There was this great little dive called The Green Tomato in Boulevard that made the best guacamole I think I have ever had. The Harley crowd loved that place, and I don’t think I was very welcome there with my BMW K100.
