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sdcellar.
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September 22, 2006 at 4:33 PM #7576September 22, 2006 at 4:45 PM #36120
an
ParticipantI would like to know as well. Maybe we can make its thread a central point where people can post what they know about incentive with new developments. Here’s what I know:
Airoso – Carmel Valley
Last year, price range between 550k-601k
This year, there’s incentive on their cheapest (plan 2) @ $499k. My fiance’s coworker just bought a plan 2 for $465k after some negotiation. I inquire about it and they denied that the sale ever taken place.September 22, 2006 at 4:48 PM #36121waiting hawk
ParticipantNot sure if anyone heard about Temecula and the TONS of building south of the 79. One big community is called Wolf Creek. They also built an elementary school down there that was going to open this past Aug. Not enough people bought there so they cancelled opening up the new school. North County Times reported on this a while back.
September 22, 2006 at 5:02 PM #36122Desperate4housewithyard4kidswillbuyin2009
ParticipantI remember Airoso. My wife and I went there early last year and the sales rep was telling us in a haughty fashion that we better hurry or else they would be sold out!
I am so glad that this $^%#$ market is coming down. I make $140k a year and still can’t afford Jack!!!September 22, 2006 at 5:07 PM #36123ParticipantI wouldnt mind living in Temecula however it’s too far from work. I wouldnt see my kids all day of I drive up and down from SD to Temecula/Murrieta. I rather live in a nice $2000 a month apartment complex than pay $3000 plus for a mortgage and have no time for my kids…
I see the market in SD becoming affordable in 2008-09 and then maybe my kids can play in their own yard….September 22, 2006 at 5:43 PM #36125ParticipantI am not advising anyone to move there by any means
Reasons:
1. To far to commute.
2. To hot down there
3. When I move down there (up there to most of you all)I don’t want all of u’s coming in and jacking the price up 🙂September 22, 2006 at 11:05 PM #36147sdcellar
ParticipantDevelopers in 4S Ranch seem to be dropping their prices pretty rapidly.
Fieldstone just started selling Pienza which appear to be the exact same homes as SilverCrest which just finished selling this summer (barely). They’re priced $100,000 less.
John Laing dropped the prices of their Silhouettes between $40 and $60K depending on the model since they first opened in April or so. They built the first nine and these two have been sitting around ever since the opening.
They’ve pretty much completely stopped building any more of those while they try to finish Rosemary Lane. These five have been reduced and been around a while. Better hurry, some close last month!
Brand new developments from K. Hovnanian (Evergreen), William Lyon (Maybeck), and Buie Communities (Chanteclair) all offer more square footage and lower prices than what was available last year and early 2006.
Most all of them are likely offering some incentives as well, but the trend seems to be actually lowering the prices.
September 22, 2006 at 11:09 PM #36148ParticipantAnd, oh yeah, I still wouldn’t call these “Deals”. They’re comin’ down more…
September 23, 2006 at 1:19 AM #36155Anonymous
GuestWhat price range??? Condo or SFH?
I’ve been monitoring The Heights in Carmel Valley.
It’s a condo convert. But, no it’s not a POS apartment convert. These were originally built to be owner occupied but then was converted into apartments only to be reconverted back to owner occupied now.Original price at the peak was $500k+ for 2bed/2bath
1 month ago offering $429k + 3% rebate to agent + 10k rebate to use a preferred lender. We jokingly said that we would consider once they are ready to sell in the $390 range. They laughed. I checked last week, units haven’t sold yet. I think they are considering around $400k before all the incentives.It’s a nice complex, looking for a positive cash flow without sinking too much of a down. It almost works out for us, but not quite. Plus one disadvantage is this complex is three stories but doesn’t have elevators.
SFH:
I have *heard* Portico off of 56 is offering to buy down your loan to 3%apr for 30 years, but haven’t confirmed this myself.
Most high end new developments in CV (old carmel valley) have *not* drastically lowered prices yet. They are offering to buy down loan interest payments and throw in rebates, to prop up the home prices. Namely because these are in phase 2-3, and have a few more phases to go.
Derby Hills (Pardee Homes): some cancellations + about 2-3 more phases coming…Two new home started $1.35M but was discounted by $200k (buyer backed out-couldn’t sell his home first). Don’t know if it’s still available. Most likely yes.
Saratoga (Pardee Homes) : Mostly sold out, but a few corner homes in around 900k: 3% rebate + loan rate buy down. I think there is about an additional $25k wiggle room. The homes sit adjacent to busy street. Big lot, but not the best location. Plus it faces the wrong direction (too warm)
Saratoga at the Ridge (Pardee Homes): No incentive when I checked (these were premium locations). I don’t know about availability. They was a waiting list for this about 2 months ago.
Carriage Run (Pardee homes): 700k-800k: No incentive when i checked 1 month ago….BUT….This place isn’t selling well at all. It’s one of those homes that really don’t fit in the neighborhood imho. It’s too small and it’s overpriced for what you get relative to everything around it. I wouldn’t be surprised if we start seeing hidden discounts. Location is excellent.
September 23, 2006 at 1:20 AM #36156Guest4S ranch is screwed. Why anyone would want to spend 800k-900k+ in Rancho Bernardo, where it’s extremely hot is beyond me.
September 23, 2006 at 1:38 AM #36158ParticipantPell Place has 4 units left and their largest plan which was selling for 569k last year is going for 472k. Also they will knock off 2 years off HOA if you go through their lender..
I saw the Heights and the sales gal gave me this spin about how they were not really aprtments but built as condos originally. However to bypass city rules they had them recorded as apts. And now they were condos again ….
I think in 2-3 months when they have zero sales the price should come down to 390k or less.
Sour grapes, sdcellar thanks for the info
Maybe we can do a spreadsheet and tally all the new homes and track incentives and discounts???
September 23, 2006 at 1:41 AM #36159ParticipantI am trying to track both condos and SFH
September 23, 2006 at 8:12 AM #36166salo_t
ParticipantWell here is some spin from Centex homes. I just got it in my morning email.
“Time is running out to take advantage of purchasing a new home from Centex Homes-Inland Empire. Beginning Monday, October 2, prices on our homes will increase by up to $20,000. Take advantage of the best prices by visiting your preferred new home community and purchasing today!”
The 20k increase will probably be caused by the Honda Civic hybrid they will have to add as an incentive for you to drive that far every day.
September 23, 2006 at 8:55 AM #36167Bugs
ParticipantThe $20k increase is probably planned to coincide with a reduction in mortgage interest, so (they think) the payment will remain the same. The only hitch is that they still need a buyer.
September 23, 2006 at 10:29 AM #36175ParticipantEverything I’m tracking is SFH. To me, the reduction in condos is a given.
Regarding the $20k increase by Centex, I’d say that’s a clever move, but it’s clearly a psychological play. Even when prices are going down, they want to try to create the illusion of urgency. I expect they’ll be reducing prices around October 16th…
As far as Carmel Valley is concerned, I think what you’re seeing is that developments that are nearing completion are doing the best they can to hold prices (and instead offer steep incentives). Part of this probably has to do with the appearances they want to maintain with all those who bought in earlier phases. Don’t kid yourself that CV isn’t overpriced as well. $900k and higher for 2500-2700 square feet is a hefty premium for the illusion of coastal proximity. It ain’t Del Mar. (and no offense intended to those who live there, it’s nice, just has it’s place on the location food chain and the newer stuff is farther inland. I wouldn’t mind living there if the price was right). 4S is more like $700k-$850k and larger homes (as low as $606 if you include the smallest SFH), so it’s all relative.
And all of them have more to come down…
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