Have any of you seen this article in the Orange Country Business Journal?
http://www.ocbj.com/news/2011/feb/27/back-building/
Interesting part of the article:
"Homebuilders were believed to be paying close to $3 million an acre for Irvine Co. land last year, according to real estate sources.
As the market for sales in Irvine continued to improve, Irvine Co. reportedly sought land sales closer to $3.5 million per acre near the end of the year. Prospective buyers are said to have balked at that price, and rather than drop prices, Irvine Co. opted to ramp up its use of Irvine Pacific. "
http://www.ocbj.com/news/2011/feb/27/back-building/
Interesting part of the article:
"Homebuilders were believed to be paying close to $3 million an acre for Irvine Co. land last year, according to real estate sources.
As the market for sales in Irvine continued to improve, Irvine Co. reportedly sought land sales closer to $3.5 million per acre near the end of the year. Prospective buyers are said to have balked at that price, and rather than drop prices, Irvine Co. opted to ramp up its use of Irvine Pacific. "