Great Park Neighborhoods break ground

NEW -> Contingent Buyer Assistance Program
It will be interesting to see what Lambert Ranch and 5 Points price their Phase 1 homes at.

Haven't driven by there but does it look like model homes are going up at Lambert? They would have to be now if they want a summer release, unless they are waiting until 2013 like 5 Points (which would be bad timing).
 
So can you plant and consume anything in your garden in the Great Park homes without turning into a Ninja Turtle or do we have another Tustin Fields here?
 
gld2 said:
what are the prices for the houses for the Phase 1 of Great Park?  will be lower than Irvine Pacific's?
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I'll be cautiously optimistic due the following:
  • Five Point paid the City 40 million cash to build homes with smaller lot sizes
  • Columbus Square, with non-TIC builders, charge similar pricing as Irvine new homes but even with higher mello-roos
  • Despite the premium, Maricopa is selling better than Las Venantas; Maricopa is probably half way sold while Las Venatas just stucks in neutral with many standing inventories
  • Builders raise price very quickly if there is overwhelming demand. See Ivy at Woodbury East and Santa Barbara at Woodbury as examples
 
As TIC is in the dormant stage for the time being to devise a better mouse trap the price benchmark is not climbing. Homesellers are not able to aggressively list those wtf prices like what we saw during the 2010 collection. That was just a pend up demand, free cheese and free in- law hand out. Now the reality is back to normal. FCBs ' economy is not doing so well the table is turned back to the buyers market. We will see prices continue to drop until this fall.
 
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