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duchess
ParticipantVintage is great. We spent a small fortune on our hand hewn beams from there. They add an element of authenticity to the home that can’t be beat. That said, we used Duchateau floors for our casita where we wanted to use wood floors. $8/Sq ft plus installation. The floors complement the beams well. The rest of the house is French limestone and honed marble.
ParticipantWe rent a house a few blocks away and the TERI house has been a good neighbor. We haven’t heard any complaints or issues regarding values of nearby properties.
The recent incident regarding Fairbanks Ranch resident Jack Doshay has opened a lot of people’s eyes regarding what a pedophile looks like.
ParticipantGoing public is unlikely. The HOA is already suing the club because of the volume of traffic from non-golf related events at the clubhouse. A public course would exacerbate the issue of non-resident traffic within the gates of the neighborhood. That said, if it’s a choice between a closed and overgrown course vs. more traffic, the residents would probably choose the latter. I think we’ll see the current ownership of the course (or the next owner) try to make it work before we get to that choice.
ParticipantWe’re breaking ground on a custom home in the Crosby next month. Cost to build is $250/square foot including pool and landscaping. The house is nearly 7k square feet. The finish level will be a big step above Alta Del Mar.
Soft costs (permits, architects, engineers) will be $150k on the low end. We received bids from architects that ranged between $40k-200k. Our architect recently went on his own after nearly 20 years at the $200k firm. He’s amazing and the costs are a fraction of his former employer.
We bought the lot two years ago and have had to do a tremendous amount of work to get to this point. You need a fair amount of free time and a lot of optimism to see a project like this through at a reasonable cost.
Getting a good lot at a decent price will be your first big challenge. We chose the Crosby over Santaluz because of the Solana Beach/San Dieguito schools.
I’m happy to answer questions or discuss details off-line. Perhaps I could help you avoid some of the mistakes we made along the way.
ParticipantI’ve spent far too much time researching and talking to construction lenders in the last year. A broker isn’t the way to go.
For lot only loans, US Bank is one of the only games in town. A few small banks also do them, but the rates are 5%+ and they have short terms.
The problem with doing a construction loan at the same time as the lot purchase is that most banks want plans, a contract with a builder, and a building permit to fund a loan. First Republic is an exception. They offered a one time close that funded a lot purchase and provided more funds when ready to start construction.
If you can acquire the lot either with cash or a lot loan your options open up quite a bit. Locally Wells, US Bank, First Republic, Boston Private, JPMorgan Securities, Homestreet all have good one time close products.
I ended up borrowing some cash from a family member to buy my lot in the Crosby last year. The permit should get issued in a couple months. A 7 year interest only arm is my loan of choice and Boston Private, First Republic, and JPMorgan offer that product.
If you share a little more about your needs or PM me, I’m happy to give you all the contact info and notes I have.
ParticipantWe’ve visited both sets of models and had a similar decision to make regarding being within walking distance of schools. We chose a house where we’d have to drive to school (Crosby to Solana Santa Fe) over one where we could walk (Santaluz).
I always think about having to sell our house in a bad market. Power lines seem to turn buyers off more when the market is bad. In your spot, I’d probably go with the Lakes. My preference is also to not be in the highest price range of the neighborhood.
Not sure if you’re set on new construction, but have you looked at the resales in the Crosby? Since you’d be driving to school anyway, the schools are different and the district seems to be run in a more fiscally sound manner than Poway.
ParticipantA resale in the Crosby would get you San Dieguito schools. You wouldn’t have to worry about getting into the crowded Poway district. We chose the Crosby because our oldest will start kindergarten at Solana Santa Fe by the time our house is done. If you have young kids call the schools in the areas you’re considering and ask how full they are.
ParticipantYou might take a look at the Crosby. The south gate is somewhat close to the 15 and it’s in the San Dieguito school district. The elementary school is Solana Santa Fe. We bought one of the few remaining lots and will build next year. We really liked the fact that many of the neighborhoods that feed into the elementary school are well established. The result is a school that’s less crowded than many others in the area. If Poway schools stay on your list, Santaluz is also great for families.
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