Tag Archives: K. Hovnanian

Lots of Lumber in the Air in Coastal North San Diego Co.

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With Super Bowl Sunday behind us, several homebuilders are kicking off new projects in anticipation of a strong spring selling season.  A quick drive around the North San Diego County submarket provides some optimism on the strength of the local building community….

  • In Carlsbad, Shea Homes is grading along Poinsettia Lane and Cassia Road, and Taylor Morrison is grading along Black Rail Road for new projects. Models should be under construction in the next few months.  Also on Black Rail, Warmington Homes is finishing a new phase of their Poinsettia Ridge project which should be available for move-in soon.
  • The Tides at Carlsbad, a 27-lot project along the freeway at Poinsettia Lane by K. Hovnanian is in full swing and selling.
  • The La Costa Condominiums, a large project being framed along La Costa Blvd., just east of El Camino Real is being developed by a local investment group to be held as rental condominiums.  Completion is expected by the end of the year.
  • Further south, The Bungalows project by Fieldstone Communities stands out.  From the freeway, you can see the unique red treated lumber being used for the framing.
  • Davidson Communities has two projects gearing up for release.  Arista at the Crosby is underway with models available to preview in the next few weeks, and Miraval at Torrey Highlands has also started moving dirt with an onsite sales trailer already open for previews.
  • Pulte Homes is also under construction in Torrey Highlands with their Latitude project.  Models should be open soon.

After a prolonged lull in new home construction, seeing so many new housing project starts in the market is very encouraging. Land prices are now stabilized in North San Diego County, and Land Advisors sees great values in the market for both finished lots and future entitlement deals.  Please check out our current listings for La Costa and The Lakes Above Rancho Santa Fe.

Source: David Landes, Marketing Consultant, (858) 568-7428

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Two Homebuilders Walk into a Bar…

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We couldn’t think of anything either… But here’s an update on San Bernardino & North Central Riverside Counties:

San Bernardino & North Central Riverside Counties currently have 49 actively selling projects, up 67% from 2008, when there were only 16 actively selling projects. (Source: Hanleywood)

  • K. Hovnanian takes the lead with 6 actively selling projects
  • The majority of active homebuilders in this sub-market have two actively selling projects. 

Rental rates have increased 2.2% in the San Bernardino-Riverside-Ontario Metropolitan Statistical Area (MSA) since October 2010

Clarion purchased 3 multi-family properties for a combined price of $100 million and a total of 586 units.

  • The largest property was a 264-unit complex in Rancho Cucamonga called Village on the Green Apartments.  This complex sold for $43 million.
    1. The complex is surrounded by fairways of Empire Lakes Golf Course and is within close proximity to Victoria Gardens and Ontario Convention Center.
    2. Article link: http://www.rentv.com/content/homepage/mainnews/news/14883

Number of Inland Empire foreclosures DECREASE:  Foreclosure filings in San Bernardino fell nearly 17% from August to September 2011, while national foreclosure activity increased by less than 1 percent from Q2 2011 to Q3 2011.  (Source: San Bernardino Sun Staff Report)

Source: Doug Jorritsma, Senior Marketing Consultant, (949) 852-8288 x13, and Winn Galloway, Marketing Consultant, (949) 852-8288 x27