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Thursday, Dec 7, 2023

S.D. Market Strong in Wake of National Report

As higher mortgage rates slow construction in other parts of the country, several homebuilders with local projects say they will hold grand openings and releasing projects for sale in the next few weeks.

U.S. Housing Markets of Canton, Mich., a newsletter that follows housing trends nationwide, reported earlier this month the third quarter saw rising mortgage rates slow building activity. In comparison to 1998, total third-quarter permits were down 1 percent and September permits were down 5 percent, the newsletter reported.

However, John Burns, senior managing director of the Meyers Group, which owns the newsletter, said he still thinks 1999 will beat 1998 in both the number of single-family and total permits pulled.

LaDonna Monsees, president of San Diego-based Newland Communities, said that strong demand at the company’s three master-planned communities in California brought sales of more than $50 million in the third quarter. Figures on third-quarter 1998 and all of 1998 for the company were not provided by the company by press time.

Meanwhile, a grand opening celebration is scheduled from 11 a.m. to 3 p.m. Saturday, Nov. 20, at Heritage Golf Estates in north Poway, a custom-home subdivision where the approximately one-acre and larger lots are being offered for from $459,000 to $830,000. Roberta Coffin, a spokeswoman for developer Old Coach Realty of San Diego, said two homes are already under construction at the Poway project. One is 5,600 square feet and the other 10,000 square feet.

Laguna Hills-based Taylor Woodrow Homes Inc. celebrated the grand opening Nov. 13 and 14 of Fairbanks Highlands, southeast of Fairbanks Ranch. The one- and two-story homes unveiled at the grand opening have prices starting in the high $800,000s. They have from 3,883 to 5,463 square feet and from three to six bedrooms, said Barbara Stowers, vice president of sales and marketing.

Site preparation and preview sales are set to begin in December at Barratt’s Country Glen south of Escondido. The prices of the 3,637- to 4,164-square-foot, three- to six- bedroom homes will begin in the mid-$500,000s, said Rick Fletcher, Barratt vice president of sales and marketing. The company is a subsidiary of the Barratt Group, based in England.

The Carlsbad-based division of Centex Homes will release later this month the seventh phase of homes at its Silverado neighborhood at Otay Ranch. Sherry Kirkpatrick, marketing director for the San Diego division of Centex Homes, said the project will include 16 homes priced from the low $200,000s. They will have from three to five bedrooms, with three floor plans ranging in size from 1,513 square feet to 1,798 square feet, she said.

Fieldstone Communities Inc. on Nov. 1 opened its Phase 11 at Sunbow, east of Interstate 805 in Chula Vista. The three- to five-bedroom homes range from 1,923 to 2,872 square feet, with prices beginning in the mid $200,000s, said Andrew Murphy, regional manager for the builder.

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Association Formed: A new association designed to promote the success of Hispanic-American real estate professionals and support Hispanic-American home ownership, has been formed in San Diego.

Called the National Association of Hispanic Real Estate Professionals, the nonprofit trade association is planned as a nationwide organization, said Ruben Garcia, executive director.

“More than 50,000 Hispanic-Americans are employed in real estate and its fields of lending, insurance, escrow and title. A united voice can have great impact on the general success of these professionals,” he said.

Since its official start last month, more than 100 new members have been signing up each week, he said.

In addition to the San Diego chapter, local chapters of the group are expected to be launched soon in New York, Los Angeles, Chicago, Miami, San Antonio, Phoenix and Albuquerque, N.M.

A membership application is available on the association’s Web site at (www.nahrep.org) or by calling (800) 964-5373.

Bits And Pieces: The 4000 Ruffin Road Building, owned by American Realty Advisors and managed by Burnham Realty Services of San Diego, won an award in the local research and development building over 100,000-

square-feet category in the recent Building Owners and Managers Association awards contest. Burnham Real Estate Services has opened its fourth San Diego County office at 2252 Main St., Chula Vista. Michael and Elaine Gallagher are the top agents for the Del Mar office of Prudential California Realty with more than 80 sales year-to-date, said office manager Carol Cianfarani. The Institute of Real Estate Management, San Diego chapter, will present its 12th annual Economic Forecast Breakfast from 7 to 9:30 a.m. Friday, Dec. 3, at the San Diego Convention Center. Pre-registration tickets are $50, with $60 charged at the door. For information, call (619) 291-4736.


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