Marston in Del Sur

[kcal09]

We visited the models at “Marston” in Del Sur and liked them but found them way overpriced. The homes are between 4,400-4,800 sqft with small lots and start at around $1.1 million. What do piggs who know “Marston” think about these homes?

[Mayze]

I toured the models Saturday. They are a lot of money, but seem in line with other nearby housing. Some would argue the whole region is overpriced. My takeaways are:
1, Builders cut corners on materials and craftsmanship, even on high priced homes, and
2. The designs around outdoor living spaces are VERY appealing. I’m trying to image retrofitting similar spaces onto our existing home and it is very tough to imagine the seamless integration.

[sunny88]

We toured the models yesterday and found the interior of the homes quite appealing. However, the lots are very small for the size the homes. Obviously, they made the outdoor upgrades very nice but they cost at least another $100-150 k which will bring up the price of a finished home to almost $1.3 million. Crazy!

[Upvote_Anything]

They look pretty nice although the lots are small for the price. I think you are paying for the hill view.

[sunny88]

For that money you can buy a better quality home with a nicer view in “Stonebridge” from Toll Brothers.

[ocrenter]

[quote=sunny88]We toured the models yesterday and found the interior of the homes quite appealing. However, the lots are very small for the size the homes. Obviously, they made the outdoor upgrades very nice but they cost at least another $100-150 k which will bring up the price of a finished home to almost $1.3 million. Crazy![/quote]

Given Del Sur’s reputation for outrageous MR/HOA, any idea about the cost of those?

[kcal09]

HOA is $160-170/month.
MR is around $6,800-7,200/year

Very high MR indeed…

[ocrenter]

[quote=kcal09]HOA is $160-170/month.
MR is around $6,800-7,200/year

Very high MR indeed…[/quote]

That’s a reduction of $150k in purchase power based on the latest jumbo rate.

But then given the smaller sized lot you don’t have to spend as much for the landscaping.

[Anonymous]

We ended buying a home in Marston this morning. The MR are high but in line with most of Del Sur. The only other new construction in Del Sur for homes 4000+ sqft seems to be in the lakes and the hoa fees of 400-500 are worse with comparable MR. The only way we could see to avoid high MR was to consider a home in a more established community like Bel Etage but the sellers wanted somewhat unreasonable amounts for their homes (1.3-1.4 million) which really weren’t well updated for the most part. I know that we will need to add another 150k or so to update the backyard but its not like existing homes are substantially cheaper in the end. inventory still sucks and whats available isnt that great. We lost out on 4-5 offers to cash buyers as well. We liked Stonebridge in Scripps Ranch but it really does feel out of the way, although some friends don’t mind.

The lots for the models are small but the available lots were quite large. Our purchased lot is 13k square feet which is perfect for us. It’ll be between 2 parks and overlooks a canyon which is extra nice. They’re also going to landscape the front yard which saves a couple of bucks.

[sunny88]

Halifax-
Have you considered Poway? There are nice homes without HOA and MR. Del Sur is getting very crowded and traffic will be horrendous. Also, Marston is at upper price range for the neighborhood and resale may be more difficult. Just my 2 cents…

[ocrenter]

[quote=Halifax]We ended buying a home in Marston this morning. The MR are high but in line with most of Del Sur. The only other new construction in Del Sur for homes 4000+ sqft seems to be in the lakes and the hoa fees of 400-500 are worse with comparable MR. The only way we could see to avoid high MR was to consider a home in a more established community like Bel Etage but the sellers wanted somewhat unreasonable amounts for their homes (1.3-1.4 million) which really weren’t well updated for the most part. I know that we will need to add another 150k or so to update the backyard but its not like existing homes are substantially cheaper in the end. inventory still sucks and whats available isnt that great. We lost out on 4-5 offers to cash buyers as well. We liked Stonebridge in Scripps Ranch but it really does feel out of the way, although some friends don’t mind.

The lots for the models are small but the available lots were quite large. Our purchased lot is 13k square feet which is perfect for us. It’ll be between 2 parks and overlooks a canyon which is extra nice. They’re also going to landscape the front yard which saves a couple of bucks.[/quote]

Congrats. That’s the perfect sized lot. Anything higher than your water bill and landscape bill start to get overwhelming. Although I can see someone planning on building a casita in the back would prefer that 1/2 acre lot.

Given how much the builders have spiked up the asking price in Stonebridge, the cost of the new homes between Del Sur and Stonebridge are essentially equivalent. Except for the MR. But if you pay it off, then it’s no longer a big deal. Didn’t someone mention the payoff in Del Sur runs about 70k? Thats just 10k more than Stonebridge.

The Lakes is technically not part of del sur. More of the Crosby’s step-sibling. The benefit of the Lakes is they do not have to use the lowly “92127” zip. 🙂

[kcal09]

We went back yesterday with some friends and the place was packed with visitors. I spoke to some people there and they said that the inventory is really low. With the interest rates trending up a lot of people are trying to jump in despite the high prices.

[ocrenter]

[quote=kcal09]We went back yesterday with some friends and the place was packed with visitors. I spoke to some people there and they said that the inventory is really low. With the interest rates trending up a lot of people are trying to jump in despite the high prices.[/quote]

we were in the neighborhood so decided to stop by the models.

we were blown away by their ability to squeeze a 4500+ sqft home on to a 7500 sqft lot. part of the strategy is to put the homes very close to the curb. but then you lose the “estate” feel. the models were of course very nice,, although one of them has a “half-pool”. I’ve never seen anything like that before. The pool is essentially a square, half the size of a regular rectangular lap pool. There’s no spa with the pool. I just can’t wrap my head around the concept. obviously you can’t swim in this thing, within a single stroke and you have reached the other side. just all together very strange.

we saw on the map they had 3 of these homes squeezed in to a 1/2 acre lot, sharing a driveway. $1 million plus to share driveways?

I thought StanPac’s Bellasario was overpriced, after Marston, Bellasario looks like a total bargain.

[sunny88]

These homes are clearly overpriced but some buyers a desperate to get in the market now as inventory is low, prices of preexisting homes and interest rates have been going up. I wouldn’t be surprised if this is another bubble which will burst within the next couple of years.
I also believe that these models are misleading in the sense that they make them look bigger than in reality. When you drive by the homes under construction you can see that they are being built close to each other with almost not space between them.

[flyer]

Another possible reason for the demand in the Del Sur area vs. purchasing homes on larger lots further east, is that some buyers (like some of our friends who purchased homes in CV in the last few years)prefer to live west of I-15.

At least this was one of the reasons they mentioned, and I’ve heard this from others as well. We’ve always lived west of I-15, but, again, that’s just personal preference, and, perhaps, that’s how the buyers at Del Sur feel. Just another possibility, as to why the demand is so high in the area.

[Author]

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