I don’t know what planet most of you live on, but I have to agree with Scruffy and Neet.
Today my wife and I went to look at homes in Carmel Valley and we were absolutely shocked at the prices, but even more shocked by the fact that most of the homes in Pardee’s larger tract (Santa Rosa) were sold. They only have about 6 homes left ranging from $999K to $1.13M. The biggest lot was 8,300 sq ft and there were buyers there throughout our visit and more coming in as we left.
My wife asked about incentives and we were almost laughed out of the place. The agent told us that they were offering about 16K toward closing and maybe a flooring allocation. The agent said they were not having a problem selling so they were not forced to offer incentives.
I saw similar in Carlsbad at La Costa Greens and La Costa Ridge. Last week we drove to an open house in Encinitas Ranch and the home was selling for about $2.0-$2.2M — about 5K sq ft home on a small lot.
I’m sorry but we are just not seeing the discounting you all are speaking of in the more desirable areas.
We have been on the sidelines for a few years waiting for the crash, but will likely be purchasing within the next 6-12 months. If you’ve seen dramatic discounts in the areas I mention, please let me know.
