sddreaming. I agree. That is one reason why we prefer FBR. As for Cielo and Santaluz we do like the homes there, but have concerns about those communities in this market. One would think that some compensation could be lower prices, but not all sellers agree and are holding on to their asking prices, particularly in Santaluz. On a per square foot bases and taking into account Mello Roos and these risks Santaluz asking prices appear more inflated than FBR.
But we are looking for a long term purchase and those areas should recover from the downturn. Nonetheless, we are indeed not willing to pay as much as sellers want in Santaluz or Cielo and are more willing to pay closer to asking in established areas like FBR, RSF Farms, and Rancho Valencia.
