Tag Archives: Fontana

D.R. Horton snaps up 74 “Finished” Lots in Inland Empire

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Land Advisors Organization – California Division is pleased to announce the closing of “Walnut III,” a ±20-acre residential subdivision located at the northeast corner of Cypress and Walnut, in the City of Fontana, County of San Bernardino.  YH Walnut, LLC sold the 74 single family lots to D.R. Horton (NYSE: DHI) for an undisclosed amount.

Land Advisors’ San Bernardino Team, which is based out of the firm’s Irvine office, represented the buyer and the seller in the transaction. 

Walnut III is located just south of the 210 Freeway, west of Sierra Avenue.  The lots are 7,200 minimum square feet, and were sold in fully improved condition with an approved final map.

“The Walnut III lots were the only finished lots available in Fontana,” remarked Land Advisors Senior Marketing Consultant, Winn Galloway. “The purchase will afford D.R. Horton the opportunity to commence vertical construction immediately and add coveted 2012 home deliveries to their business plan.” 

For more information about Land Advisors’ San Bernardino Team, contact Doug Jorritsma at (949) 852-8288 ext. 13/ djorritsma@landadvisors.com, and Winn Galloway (949) 852-8288 ext. 27/wgalloway@landadvisors.com.

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Lakers Game Anyone?

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With all the negativity shared around the real estate industry these days, the California Division’s “Team SB” (known for its cheerful demeanor and rosy disposition) is pouring optimism from the half-full glass in this week’s Landed blog post:

  1. Despite volatile market conditions, single family lots are still trading to public and private builders in well-located sub-markets along the I-15 Corridor. Several properties zoned for residential use are currently in escrow in Fontana, Rancho Cucamonga and Eastvale/Dairylands.
  2. New homes sales are slow throughout San Bernardino County, however, a few communities are selling quite well. For example, Beazer Homes’ (BZH), The Enclave at Crafton Hills, located in Yucaipa, has sold 9 homes in the last two months. Land Advisors originally sold the Crafton Hills lots in “finished” condition to Beazer in late 2010.
  3. Beaumont has been one of Richmond American Homes (MDC), strongest selling sub-markets this year. The public builder’s two actively selling communities are Kensington at Tournament Hills (from low $200s) and Woodhaven (from the upper $100s).
  4. If there is in fact an NBA season (please God!), don’t miss the Lakers game at Citizens Business Bank Arena (next to Team SB’s multi-family listing: Piemonte at Ontario Center) on October 12th.

Team SB covers residential land activity in San Bernardino and Northwest Riverside Counties. For more information on this sub-market (or more cheery market insight), please contact Doug Jorritsma, Senior Marketing Consultant, (949) 852-8288 x13 and Winn Galloway, Marketing Consultant (949) 852-8288 x27.