Summer Sizzle in The OC

The summer sun is here and hopefully it’s shining bright on Taylor Morrison’s GRAND OPENING of the Palisades – located in the Vista Del Verde master plan in Yorba Linda. Townhomes will range from 2,206-2,626 square feet and pricing starts in the high $500’s for 6 floor plans.  The opening event is planned for Saturday, June 30th!

Apartments here in Orange County remain HOT!  Rents are UP and more supply continues to come on the line and lease up quickly – even leasing up ahead of schedule, as is the case at The Irvine Company’s newest community, Cypress Village.

The City of Lake Forest approved Toll Brothers & Shea’s plans for Baker Ranch, a +2,300-unit development on +380 acres. The land is one of the City’s “Opportunities Study Areas,” enabling residential development now that the land use is no longer affected by the El Toro Marine Base flight path.

In the recent elections, the City of Yorba Linda passed both Measures H & I.  The Measures allow for increased development on a number of sites that will accommodate moderate, low and very low income households.

The Olson Company will be building 27 single-family homes and 61 townhomes  at the future Solano Walk in Fountain Valley adjacent to the Civic Center.

Source: Allison Rawlins, Marketing Consultant, (949) 852-8288 ext. 26, and Mike Hunter, Senior Marketing Consultant, (949) 852-8288 ext. 37

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

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

Closings and Openings in Orange County

The Land Advisors Orange County Team is very proud to announce the closing of 143 townhomes at Planning Area “T” at Vista Del Verde in Yorba Linda – CONGRATULATIONS to Taylor Morrison on its future Palisades community, and to developers Aera Energy and Toll Brothers for completing the final sale in their premier master plan.  Read the complete press release HERE.

Senior Marketing Consultant Mike Hunter, who has over forty years experience selling residential land in Orange County, has worked with Aera Energy and Toll Brothers on the Vista Del Verde project since its beginning. “Land prices at the project have held up over the years, thanks in part to the North OC site’s proximity to Los Angeles. Los Angeles and North OC have continued to draw plenty of interest from institutional investors that fund homebuilders,” Hunter told the Orange County Business Journal.  OCBJ reported that the Area “T” transaction is likely one of Orange County’s most expensive in recent years.

NOW OPEN: Last quarter KB Home debuted a new home community at Whisler Ridge, 58 single family homes in Lake Forest.  Land Advisors’ OC Team sold these lots, which sit on approximately 12.7 acres near the 241 Toll Road, to KB Home in 2011.  These unique “net zero” homes are priced from $654,990 to $799,990.

In North Orange County news, Standard Pacific Homes recently opened its Alcott community in Buena Park, priced from the $610,000s.

Source:  Allison Rawlins, Marketing Consultant, (949) 852-8288 x26

Strike a Pose. Condos are Back in Vogue in San Diego County

After seeing a huge boom in urban condominium development in the early to mid-2000’s, followed by a few years of hibernation, several suburban multi-family condominium projects are finally emerging in the marketplace, and several more are planned for actual development.  The combination of affordability and ideal infill locations is putting condominiums back on the radar screen for possible new home buyers.

Nearly every local builder has a current project in the works, either attached or detached product types.

  • Carlsbad is a hotspot for new home projects.  Shea Homes, Taylor Morrison, CityVentures and Brookfield Homes all have new communities breaking ground in the coming months, and D.R. Horton (53 Melrose), KB Home (Avellino) and Brookfield (Sago at the Foothills) are building out existing projects in this city.
  • San Marcos is also seeing an uptick of activity.  Colrich is starting to market their new project (Solaire) in the Old Creek master plan, and Lennar is building out Belmont at the top of San Elijo Hills.
  • Farther south, Davidson Communities is breaking ground on their new detached condominium site, (Arista) at The Crosby.
  • Shea Homes is also making news in Mission Valley with its new communities in the Civita master plan.

The communities of Otay Ranch and Olympic Pointe in Chula Vista will supply the San Diego South Bay with new product in the near term.

Future projects in North County, Mid County and South Bay currently in the planning stages ensure that condominiums will continue to supply lower priced homes throughout the region.

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

Still Alive in San Diego

San Diego Marketing Consultant, David Landes, (858) 568-7428 had this to report on the San Diego County land sub-market today:

  • Improved lots are still in strong demand. 
  • Carlsbad continues to supply most of the new product with projects in the master plans of The Foothills, La Costa Oaks, La Costa Greens and La Costa Ridge.  DR Horton, KHovnanian, Standard Pacific, Pulte, Davidson, Taylor Morrison, William Lyon, Colrich and Cornerstone are all active in this market.
  • New projects in San Elijo Hills are also cropping up.  Lennar is under construction on a new attached project and another large, public builder is currently under contract on some of the remaining lots at the top of the hill.
  • The apartment groups continue to be aggressive.  Several projects are under contract along the 78 Corridor from Vista through San Marcos.
  • Several improved lot offerings are in the works along the 56 Corridor up through Del Sur and Rancho Santa Fe.  Look for transactions by year end.