[jabrwoki]

Not only is SoCal/IE region affected by these Centex price cuts they are the following the same formula to push sales here in NorCal (Contra Costa county) as well. Recently they are offering upto 15% price cuts on a single day sale. That figure amounts to ~ $200k on their million ($1.2 mil) plus homes here in San Ramon ! Its about time !! Wonder what the folks who bought last month think about this. Centex may have offer apologies a la Steve Jobs and credits for future home purchases.

[jabrwoki]

This BS reminds of the theory of weather prediction which goes : If you look at the sky today and predict that tomorrow will be the same weather as today you will right more than 50% of the time. Why bother !

[jabrwoki]

Good luck with your purchase. It appears the $460k price for Larkspur is a little high unless it is at least a plan 3. They were quoting similar prices for the larger units during summer. Maybe it is all in the overpriced upgrades. Anyway, price apart it is a good design and your friend might enjoy at least the good taste in design Shea Homes seem to have.

[jabrwoki]

Which division is it ? Calico Bluffs (Shea Homes) or the new DR Horton townhomes ? If it is the former the price already looks down about 10% from what they were asking in July (~490k). Maybe re-negotiation for a lower price is in order instead of losing the deposit.

[jabrwoki]

Jim,
Wow ! People listing 1 month after purchase, this shows the insanity of this whole ponzi scheme. Glad it is finally starting to unravel.

JES,
I also visited RA homes in their lower end neighborhood (Luminara not Atherton) and same buy down schemes being offered with list prices starting 60k below their website price !

[jabrwoki]

There seem to be more down the street for even lesser money (slightly smaller square footage ~3300) …

8×4 Antilla Way : $775-850k.

Lots of new houses (3000+sq ft) coming up for less money ~700-750k

[jabrwoki]

I dont remember but the minimum size houses in that neighborhood is ~2800 sq ft. Of course they were trying to sell that house for $629k for 6 months before crumbling and listing it for $599k befoe it disappeared from their website. I dont know whether they got their final price.

[jabrwoki]

This price is still too high ! The last home the builder (Centex) sold in this division went for $599900. This guy is still smoking something !

[jabrwoki]

Bugs,
Any more specifics about exact prices ? I have been following Bressi since its inception and have noticed their price lists changed dramatically over many visits I have had. I was particularly looking at Primrose Point and Wisteria Place and noticed that some Plan 1 models went for almost 650k when their normal advertised prices ranged from 750-800k. Right now they claim all their Primrose Pt residences (except models) are already in escrow. Would be interested in knowing what they closed at.

thanks

[jabrwoki]

I agree. Centex seems to be slightly ahead of the curve in most cases. Did you see the ad in last weekend’s Union Tribune. Another Centex development (Seven Oaks) in Escondido (right off of El Norte on 15) advertised a massive red tag sale. Prices range from 560k- 610k average 10% reduction from original list + they are offering 3.75% interest fixed for 5 years or so. These are for houses ranging from 2500-2700 sq ft.

[jabrwoki]

I have been following that area for the last year as well. They were initially priced around $600k last Dec. After trying to throw in meaningless incentives like 3 of 5 incdentives like Plasma TV (cheap EDTV at that), epoxy flooring for garages, HOA fees for 6 months etc. looks like they finally got the message and lowered the price. Even though it looks tempting now they still have high HOA and tax rates for the area. Good schools though. I would second mrquoi’s offer which seems about the right price for that neighborbood (Just 4 years ago single family homes were around $400k in Torrey Hills which is much closer to I5). Let the carnage begin !

[jabrwoki]

I live in Torrey Hills. You should be able to find 1-bedrooms in the upper end of your price range. commute to sorrenty valley is less than 10 minutes through Sorrento Vista Parkway (runs parallel to 805). Check out forrent.com website there are other options in the 92130 area code with a very short commute to SV.

[jabrwoki]

SD Realtor,
When I estimated $250k for these condos it was mainly based on a generous 12x multiple based on yearly costs of renting at recent rental rates (~$1700). Of course there are other personal reasons why people may want to pay more or less than this but as you point out in your choice ‘d’ the current prices are a historic high like the the dotcom bubble peak and sane people everywhere have to pause before plunging into this mess !!

[jabrwoki]

sorry !! I dont know what the heck is wrong with the server. I didnt mean to post 4 times.

[jabrwoki]

I know exactly what you are talking about as I have been following the same complex (Lucera) and others having lived in UTC for the past 3 years. The lowest prices advertized now for Lucera 2bedrooms ($399k) is still about 30k more than what homeowners purchased for 2-1/2 years ago. Let us see when the flippers fold to below original list price ($370K). Meanwhile i have heard (from a friend who purchased there) that they had a major plumbing issue for which the residents had to cough up $10k each. This is just the beginning because not too long ago you (and even now in some unrenovated complexes) you can still rent in the $1500-$1700 range. My estimate of fair prices there is about $250k. What do you think ?

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