Pacifica San Juan

NEW -> Contingent Buyer Assistance Program
<p>jsboxer - in addition to your views which I agree with, i'll add the following:</p>

<p>SJC - I think the pent up demand and great location for select lots is what held up the initial prices. Now, they are succumbing to market forces just like all the other communities. </p>

<p>Talega - Unless one is very familiar with this area, one is bound to underestimate the weather there. It is one of the closest location to the coast of any of the new communities east of the I-5, even though many consider it "inland." What often surprises me, is that the marine layer often ends right when you enter Talega. It keeps the weather cool yet sunny on days when the beaches are overcast. I think the community could use a little more diversity, however, as it is heavily caucasian. A Talega shopping center along with the Marblehead shopping center will add more retail to the area, but it's yet to be seen how it will add to the overall traffic & desireability of the area.</p>
 
<p>Oc -conservative:</p>

<p>When is the Marblehead shopping center expected to open? I've heard mixed information - outlet center? hotel?</p>

<p> </p>
 
<p>Marblehead? I've been waiting since 91 for that place to be developed. You think they still have a chance for the Nixon library? </p>

<p>Sorry the sarcasm is on full blast tonight.</p>
 
<p>LL - the first Marblehead retail centers will be open in mid-2008 including an outlet center, movie theater, restaurants, & hotel.</p>

<p><a href="http://www.craigrealtygroup.com/scott/craig/info/ourCentersSanClemente.htm">http://www.craigrealtygroup.com/scott/craig/info/ourCentersSanClemente.htm</a></p>

<p><img alt="" src="http://www.sanclementetimes.com/uploads/images/eye_on_sc/articles/20070510_MarbleheadCrane.jpg" /> <img alt="" src="http://www.sanclementetimes.com/uploads/images/eye_on_sc/articles/20070510_HMP_main.jpg" /> <img alt="" src="http://www.sanclementetimes.com/uploads/images/eye_on_sc/articles/20070510_homes_custom.jpg" /> <img alt="" src="http://www.sanclementetimes.com/uploads/images/eye_on_sc/articles/20070510_basin.jpg" /> <img alt="" src="http://www.sanclementetimes.com/uploads/images/eye_on_sc/articles/20070510_colony_cove.jpg" /> <img alt="" src="http://www.sanclementetimes.com/uploads/images/eye_on_sc/articles/20070510_bridge.jpg" /> <img alt="" src="http://www.sanclementetimes.com/uploads/images/eye_on_sc/articles/20070510_retail_entrance.jpg" /> <img alt="" src="http://www.sanclementetimes.com/uploads/images/eye_on_sc/articles/20070510_park.jpg" /></p>
 
An outlet mall sounds like a traffic nightmare waiting to happen, especially a "luxury outlet mall," given the number of mass affluent in the OC. Ugh. I wish they would leave the outlet malls to places like Cabazon and Barstow, not that this will be anything on the scale of those monster malls. A while back a bunch of San Clemente residents sued the developer over its plans to have something like 30+ signs advertising the mall along the 5 freeway. I'm not sure whatever happened with that.
 
<p>Keith:</p>

<p>Did they back out because of the wait? Or price of the land? The counselors at Belle Cliff were saying that Laing got in on the project earlier than K. Hovanian, so they were able to acquire the land at a lower cost. Thus, they expect that K. Hovanian will have to price their homes higher. Prices will be released this weekend, but according to Marty's post earlier regarding the ocean view homes being estimated at $1.8Million to start - that is just rediculous! Especially because you probably won't even want to be in your backyard/balconies to view the ocean due to the freeway noise and dust.</p>

<p>Anyway, see you guys at the Alora grand opening this weekend.</p>
 
I suspect Toll is slowing down with or giving up on new projects in OC. They have a big investment in the new Yorba Linda development of Vista del Verde. I'm not sure how well those are selling, but with Bob's recent "schmuck" quote, my guess is not well since they sold a number of homes in prior developments and phases at <em>very</em> high prices.
 
toll is having a hard time selling their style of architecture in orange county. they have backed out of their san juan project but i know that Toll is going to purchase Prado from Pardee in Portola Springs.
 
No prices were Coastline this weekend due to an inability to come to agreement on what the prices should be. The sales counselors seem to think that the "view lots" should be around $1.7Million. One of them also said that he had several buyers who claimed that they were going to pay cash for their homes. Sounds nice, I know.
 
<p>Allow me to elaborate on what "a lot" or "several" means when translated to non-new home sales agents. In my 3 close to 4 years at the builder the cash buyers were few and far between. Some tracts might have two while many would have none. Many of the buyers who had cash would get a mortgage because who really wants their cash tied up when they can possibly get a tax deductable loan and use that cash for other better performing investments?</p>

<p>Reality is one or two would be "a lot" or "several".</p>
 
<p>It was all hype. All I wanted was a price sheet. However, all they kept on insisting was that there were so many buyers and that unless I got on their priority list and faxed into them my bank statements ASAP, a price list wouldn't do me any good since I'd be way on the bottom of it. </p>

<p>"Cash buyers first, then non-contingent, then contingent last." "If I were you, I'd fax over your bank statements to see how much liquid you have ASAP." </p>

<p>"An existing home is not liquid, a HELOC is not the same as having cash in a bank account."</p>

<p>Graphrix, I totally agree with you. Why would anyone dump a lot (if not all) of their cash into a home? With these interest rates, why not (like you've said) take a conventional mortgage, only having to put your 20% down? Keep the rest in an interest-earning account, which these days will come very close to your 6.5% mortgage rate. </p>

<p> </p>
 
<p>Let's see ... Someone who is savvy enough to have liquid $1.7 mil is going to forgo the ROI on that $1.7 mil to purchase a depreciating asset? When they can lease for about 1/2 the cost of funds?</p>

<p>Yea, right.</p>

<p>And Buffett is buying HOV.</p>
 
<p>Talk is cheap as always. </p>

<p>I've never been more astounded by the level of arrogance, incompetence, and stupidity held by many in the real estate industry of all the industries I've come across in my lifetime.</p>

<p>From David Lereah all the way down to the sleazy loan agents and salespersons, I don't know who I want to slap upside the head more, them or the idiots they are able to con.</p>

<p> </p>
 
<p>Well, I've had salespersons that were absolutely no help at all. They had to pick up a brochure which I had in my hand in order to help answer questions. If I knew that, I would've done it myself in faster time. How difficult is it to prepare for work by reading the brochure one is handing out in order to sell $1M+ homes?</p>

<p>I've had a salesperson try to get me into a home by citing Gary Watts. I almost blew my gasket. Instead, I asked her what she thought about the growing inventory & unaffordability, and why he was off on his 2006 prediction, and all she could do was recite everything she told me again like some kind of broken fembot from the bionic woman.</p>

<p>I could go on, but please...I must resist...</p>
 
<p>Oc-conservative:</p>

<p>Your experiences are very funny... but true - I've had similar experiences. Most of the sales counselors I've dealt with don't really know too much about the homes they're trying to sell.</p>

<p>The sales counselors are required to have their real estate licenses. Do you know if they get some sort of commission? If not, then they really do not have any incentives to move the homes quickly. </p>

<p>By the way, since you seemed to be somewhat interested in Talega in your previous posts ... did you visit the Alora grand opening? I wanted to see what you thought of the homes and their price points (if you did visit).</p>
 
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