New master planned communities?

[an]

I was thinking, since home builders are the ones who tend to be ahead of the curve in term of pricing, does anyone know of any new master planned communities in the works? I guess I’m just trying to see if there will be more new homes in the pipe to drive down prices even more.

[Carlsbadliving]

It’s getting harder and harder for the builders to be ahead of the curve.

Example: Robertson Ranch in Carlsbad. The eastern half of the master plan is currently being graded and will soon be developed with 469 units. This is after approximately 6 years of work securing the entitlements to build. So I’d say that 6 years ago it was pretty hard to tell where we’d be today.

Now obviously within the last year, the developer could have chose to not grade and sit tight, however, they have an awful lot of money into the project already and if they sat too long, they’d have to return to the City for time extensions.

In the case of Robertson Ranch, if the land was purchased 6+ years ago, I imagine that the developer will still make money on the project. They’ll just have to price accordingly and obvisously won’t have the profit margins like they did during the boom.

[Carlsbadliving]

It’s getting harder and harder for the builders to be ahead of the curve.

Example: Robertson Ranch in Carlsbad. The eastern half of the master plan is currently being graded and will soon be developed with 469 units. This is after approximately 6 years of work securing the entitlements to build. So I’d say that 6 years ago it was pretty hard to tell where we’d be today.

Now obviously within the last year, the developer could have chose to not grade and sit tight, however, they have an awful lot of money into the project already and if they sat too long, they’d have to return to the City for time extensions.

In the case of Robertson Ranch, if the land was purchased 6+ years ago, I imagine that the developer will still make money on the project. They’ll just have to price accordingly and obvisously won’t have the profit margins like they did during the boom.

[Carlsbadliving]

It’s getting harder and harder for the builders to be ahead of the curve.

Example: Robertson Ranch in Carlsbad. The eastern half of the master plan is currently being graded and will soon be developed with 469 units. This is after approximately 6 years of work securing the entitlements to build. So I’d say that 6 years ago it was pretty hard to tell where we’d be today.

Now obviously within the last year, the developer could have chose to not grade and sit tight, however, they have an awful lot of money into the project already and if they sat too long, they’d have to return to the City for time extensions.

In the case of Robertson Ranch, if the land was purchased 6+ years ago, I imagine that the developer will still make money on the project. They’ll just have to price accordingly and obvisously won’t have the profit margins like they did during the boom.

[an]

When I say builders being ahead of the curve, i mean that then tend to price the houses at market prices and not at wishful prices. So comparing new homes vs old homes in the same area right now, it makes more financial sense to buy the new one. The builders are not in the business of holding onto the house so they’ll price it as such so that it’ll move quickly. At least that’s my perception.

[an]

When I say builders being ahead of the curve, i mean that then tend to price the houses at market prices and not at wishful prices. So comparing new homes vs old homes in the same area right now, it makes more financial sense to buy the new one. The builders are not in the business of holding onto the house so they’ll price it as such so that it’ll move quickly. At least that’s my perception.

[an]

When I say builders being ahead of the curve, i mean that then tend to price the houses at market prices and not at wishful prices. So comparing new homes vs old homes in the same area right now, it makes more financial sense to buy the new one. The builders are not in the business of holding onto the house so they’ll price it as such so that it’ll move quickly. At least that’s my perception.

[surveyor]

pricing

I can’t really tell you much about pricing. I’ve heard from D.R. Horton that they do have a little bit of leeway in terms of pricing so that they can basically sell it really low, but it probably won’t be the low that most people here would consider attractive.

As for projects down the pipe, we just finished one for Barratt American in Hemet (approx. 140 units). I’ve got another large project in Hemet that will come online as soon as the friggin’ County of Riverside stops being a total arse, approx. 80 units. I know there is another large project that is close to being finished in Riverside that is approximately 1400 units. There is one community that is being started that is still very new and that is in the Winchester area east of Temecula (south of Lake Skinner). Still very early stages though.

As for totally new master planned communities that are still on the drawing board and getting started, the two projects I’ve seen are in Imperial County.

[surveyor]

pricing

I can’t really tell you much about pricing. I’ve heard from D.R. Horton that they do have a little bit of leeway in terms of pricing so that they can basically sell it really low, but it probably won’t be the low that most people here would consider attractive.

As for projects down the pipe, we just finished one for Barratt American in Hemet (approx. 140 units). I’ve got another large project in Hemet that will come online as soon as the friggin’ County of Riverside stops being a total arse, approx. 80 units. I know there is another large project that is close to being finished in Riverside that is approximately 1400 units. There is one community that is being started that is still very new and that is in the Winchester area east of Temecula (south of Lake Skinner). Still very early stages though.

As for totally new master planned communities that are still on the drawing board and getting started, the two projects I’ve seen are in Imperial County.

[surveyor]

pricing

I can’t really tell you much about pricing. I’ve heard from D.R. Horton that they do have a little bit of leeway in terms of pricing so that they can basically sell it really low, but it probably won’t be the low that most people here would consider attractive.

As for projects down the pipe, we just finished one for Barratt American in Hemet (approx. 140 units). I’ve got another large project in Hemet that will come online as soon as the friggin’ County of Riverside stops being a total arse, approx. 80 units. I know there is another large project that is close to being finished in Riverside that is approximately 1400 units. There is one community that is being started that is still very new and that is in the Winchester area east of Temecula (south of Lake Skinner). Still very early stages though.

As for totally new master planned communities that are still on the drawing board and getting started, the two projects I’ve seen are in Imperial County.

[Author]

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