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Category Archives: Antelope Valley
California Division: 2012 Year in Review
Source: Tom Reimers, President, (949) 852-8288 x28
KB Home Commands Market Share in Antelope Valley
Land Advisors’ Antelope Valley Team is working hard to identify every land opportunity for public and private builders and investors in the High Desert. The best land deal opportunities are few these days, but the Team currently has three exclusive listings, two of which are now under contract with close dates quickly approaching.
Springtime in the A.V.: Photo of the Antelope Valley California Poppy Reserve
KB Home continues to dominate the Antelope Valley’s new home sales market. The public homebuilder is leading the charge with eight actively selling projects in the region. One or two private homebuilders are trying to break into the action, but are reporting slow sales according to Hanley Wood.
Investors are keeping their eyes open for the “right” land deal opportunities in the High Desert submarket. Resales are holding steady and not many finished lot opportunities are available.
Source: Michel Faris, Marketing Consultant (949) 852-8288 ext. 14
No Splash in the Antelope Valley
The cool winter winds continue to blow through the Antelope Valley residential land submarket as January moves into February. Homebuilders and investors alike are taking a cautious approach towards the land buying pool and are hesitant to jump in.
Finished lot inventory (which includes both finished and partially finished lots) currently stands at approximately 2,500 units in the Antelope Valley. Palmdale holds approximately 1,600 of the lots and Lancaster has the remaining 900. 95% of these finished lots are controlled by private investors who are looking at two to three year holds on their land investments. These investors are waiting for home prices to increase and for homebuilders to return to this submarket before they make their next move.
The Land Advisors “High Desert Team” continues to keep the pulse of deals in the Antelope Valley with two current listings and one escrow.
Source: Michel Faris, Marketing Consultant, (949) 852-8288 x14
Winds of Opportunity Skipping over the Antelope Valley
Private investors are taking a cautious approach to buying land in the Antelope Valley. Home sales are still slow and homebuilders are scarce.
KB Home is still the most aggressive buyer of finished lot opportunities in Lancaster and Palmdale. The public homebuilder has captured the Antelope Valley sub-market to the detriment of other public homebuilders.
The Antelope Valley is the most affordable area of Los Angeles County, and KB Home is taking advantage of record low land values by scooping up several finished or semi-finished land deals. The homebuilder has always believed in the profit potential of this sub-market and is now reaping the rewards of beating out the competition in land acquisition.
The Land Advisors High Desert Team (Michel Faris & Randy Coe) recently facilitated the closing of two transactions where KB Home purchased semi-finished residential lots in Lancaster.
The homebuilder completed its assemblage with the purchase of additional semi-finished lots within The Reserve for a total ownership of 37 lots.
KB Home also purchased 18 additional single family lots in semi-finished condition in the Sandstarr West community located on the southeast corner of Avenue K-8 and 27th Street West.
Other High Desert investors are waiting for home sales to pick up in the windy Antelope Valley, in addition to the emergence of more finished lot opportunities. Until the sub-market begins to see signs of a broader economic rebound and improved home sales, performance is going to continue to blow right by.
Source: Michel Faris, Marketing Consultant, (949) 852-8288 x14
Who’s that Buyer in the Antelope Valley?
The most active buyers currently picking up land in the Antelope Valley right now are private investors who have been trading land in the sub-market for decades. City Ventures recently closed on the 585-Acre Joshua Ranch in West Palmdale. No new deals have transacted in East Palmdale since February 2010.
Two Lancaster deals to note that were brokered by the Land Advisors’ High Desert Team in recent months:
- The Reserve – 32 Finished Lots in West Lancaster
- Falcon Point – 219 Finished and Semi-finished Lots in East Lancaster
Only a handful of residential land REO’s remain available for sale within the Antelope Valey sub-market. Land Advisors currently has three of approximately the five total exclusive listings.
Development impact fees have held steady, with little or no change in rates in the City of Lancaster in 2011.
Source: Michel Faris, Marketing Consultant, (949) 852-8288 x14
One Public Homebuilder Seeks out Antelope Valley
Reply
The word is that most public homebuilders are steering clear of the Antelope Valley (northeast Los Angeles County) these days. One large “public” is now on the search for deals in and around Palmdale and Lancaster.
Private investors are the more active buyers and sellers in the “AV” right now. They’re cautious in their approach, only taking shots at “screaming” deals, with little risk. Very few bank owned properties are left at this point.
The western portions of Palmdale and Lancaster are known as the higher quality investment areas. However, no clear “hot spots” are currently apparent.
Source: Marketing Consultant, Michel Faris (949) 852-8288 x14
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