January Tip-Offs
I would like to thank everyone below for their willingness to contribute to this fledgling blog, and please feel free to contact me if there is something you feel I should focus on in my blog. Here are some highlights:
1. Toll Brothers purchased an unknown number of lots in Pacifica San Juan. This would become their most coastal development, with many panoramic ocean views expected. I expect prices at the most expensive developments to be at or near $2 million. It is a unique site, given that it sits on a promontory overlooking Dana Point (a promontory in itself), is almost equidistant from San Diego and Los Angeles, and sits at the terminus of PCH, which goes all the way north to Northern California.
2. Melia is building 92 homes in Newport Beach. As far as I know, they are condos, and are situated in the Westcliff neighborhood (i.e. Western Newport Beach adjacent to Back Bay).
3. Blackburn 10 in the Beverly Grove is coming soon. They have so-so floorplans, but the location is spectacular. You are walking distance from the Beverly Center and La Cienega Blvd., and close to Rodeo Drive, the Sunset Strip, and the Miracle Mile. On top of it, all homes are legally single-family lots (a few inches of airspace separating each home), with two having private yards. Website: http://www.wchcommunities.com/blackburn/
4. Lyric at Cadence Park has released its floorplans: https://www.tripointehomes.com/southern-california/lyric/
June 2018 is their expected opening date (April is being quoted for Deco).
5. Toll Brothers is continuing to sell in Porter Ranch. They have released gated condos from the mid-$700,000s (detached, though), and single-family homes from $1,000,000+. Their cheapest model homes are going for roughly $1.5 million, with city lights views pegged at $1.7 to $1.8 million. The development is 20 miles from the Getty Center, but it would be hard for me to stomach this price given the gas leak and very inland location... (same problem applies for Brookfield's Aster Heights at Rosedale or D.R. Horton's Midwick Collection development). If I am going to pay $1,000,000+ for a home in the San Fernando Valley, I would expect it to be south of the 101 (i.e. Encino, Tarzana, Woodland Hills, or Calabasas). There is a development planned in Woodland Hills (contact me for more details), but it would stick out like a sore thumb off Mulholland Dr.