Yes lots of fun talking about this micro market. I had a couple clients interested in Channel island and went opening day. It was craziest release Ive ever seen. Cars parked all over Quail Gardens and there were traffic cops directing traffic.
To get a house there you had to register very early and be fully pre-qualified by their lender just to get on the list. I think you answered your own question on that one lot also. Overbuilt house on a small lot next to fire road with perceived lack of privacy made it less desireable up on that ridge.
The most premium lots not only have a view but room outside to build outdoor amenities to enjoy it. After that I’d put large non-view lots unimpaired by road noise above a view lot with a very small lot. I did some cross checking and as expected the community has a healthy share of people in real estate, building supplies, lending, building supplies and an attorney that worked for the builder. Its also hard to determine casual relationships to the builder but Im sure there were few also. The higher price point may have kept it from going all that way but there was plenty of that.
I learned this the hard way 15 years ago. I was #1 on the priority list for the Centex tract in LC Oaks and deferred for a specific lot. It was an oversized lot with the house positioned such that it had a good size backyard and an equally sized side yard that had an ocean view but was not priced for that view. Plan was to build kids yard in back and adults yard on the side. When I went to the release it was supposed to be in, I was told it was already gone to “friends & family” of the builder as were some other primo lots. In the long run it was probably better that I stayed put so no love lost there but thats the way the game is played.
Arroyo Vista was probably the most egregious example of that. The builder, Continental was sold mid stream to DR Horten. Continental execs and employees grabbed all the best lots and there were some really big exceptional ones there. Not only that, but knowing they were all gonna buy there they raised the bar on standard upgrades far above anythng seen prior as they knew they would get those for free themselves. Im sure a bunch of em are still hanging out there though many moved on sice making a relative killing when they resold.
