The Meadows, Lake Forest by Toll Brothers

[CalBears96]

TB is getting out of control. Unless one is significantly underbuying, why would one bid on a home when it takes one year for them to build while interest rates are going up? You might as well stick with resale in that case.

Cash buyers don't care about interest rates.

Oh they'll care if WW3 happens and the home they bought goes down in value. Don't even talk about rates, there's a lot of uncertainty right now with Russia going berserk.

And that's different from resale how?

For cash buyer it depends. Who knows what RE will be 1 year from now? I?m talking specifically about 75% of buyers who aren?t cash buyers.

More likely 75% of TB buyers at this point are cash buyers. You don't get the call if you aren't a cash buyer.

 

[usctrojancpa]

TB is getting out of control. Unless one is significantly underbuying, why would one bid on a home when it takes one year for them to build while interest rates are going up? You might as well stick with resale in that case.

Cash buyers don't care about interest rates.

Oh they'll care if WW3 happens and the home they bought goes down in value. Don't even talk about rates, there's a lot of uncertainty right now with Russia going berserk.

And that's different from resale how?

For cash buyer it depends. Who knows what RE will be 1 year from now? I?m talking specifically about 75% of buyers who aren?t cash buyers.

More likely 75% of TB buyers at this point are cash buyers. You don't get the call if you aren't a cash buyer.

Not only that but historically Toll Bros homes appreciated more than other builder's homes.  One of my buyers got a home in Baker Ranch because it was a Toll Bros which gave him a lot of comfort in moving forward despite having to bid almost 5% over the list price.

 

[sleepy5136]

If I am a cash buyer, I would be extremely careful if the time horizon isn't over 5+ years.

 

[CalBears96]

If I am a cash buyer, I would be extremely careful if the time horizon isn't over 5+ years.

I would say that most people who buy a home to live in, it's definitely more than 5 years stay.

 

[sleepy5136]

If I am a cash buyer, I would be extremely careful if the time horizon isn't over 5+ years.

I would say that most people who buy a home to live in, it's definitely more than 5 years stay.

Lol there are some people treating homes like the stock market right now. Granted it's not called day trading. But it sure as heck seems like it in RE world when we see listings sold and go back to market within a couple of months

 

[CalBears96]

If I am a cash buyer, I would be extremely careful if the time horizon isn't over 5+ years.

I would say that most people who buy a home to live in, it's definitely more than 5 years stay.

Lol there are some people treating homes like the stock market right now. Granted it's not called day trading. But it sure as heck seems like it in RE world when we see listings sold and go back to market within a couple of months

I said people who buy a home to live in. You're referring to flippers.

 

[usctrojancpa]

If I am a cash buyer, I would be extremely careful if the time horizon isn't over 5+ years.

I would say that most people who buy a home to live in, it's definitely more than 5 years stay.

Lol there are some people treating homes like the stock market right now. Granted it's not called day trading. But it sure as heck seems like it in RE world when we see listings sold and go back to market within a couple of months

A home is a commodity first and an investment second hence why my buyers who purchase a home stop looking at real estate websites like Redfin and Zillow after they close on the home because there's no reason to as they aren't looking to sell. 

 

[CalBears96]

I received email from TB to bid on Redwoods and Parklands:

Redwoods:
Asilo, home site #37, min bid: $1,591,000
Clover, home site #33, min bid: $1,600,000
Clover, home site #38, min bid: $1,620,000
Briar, home site #39, min bid: $1,603,000

Parklands:
Lapis, home site #12, min bid: $1,625,000
Lapis, home site #19, min bid: $1,697,000
Myrtle, home site #11, min bid: $1,624,000
Myrtle, home site #18, min bid: $1,714,000

Sites #18 and #19 are larger lots.

 

[sleepy5136]

So apparently the bidding is happening on the "popular/private" lots. The goal is not to have bidding throughout the rest of the phases. But that's the word as of recently. Who knows if they will change their mind later. The idea behind bidding is that everyone has a shot at getting a home.

 

[usctrojancpa]

So apparently the bidding is happening on the "popular/private" lots. The goal is not to have bidding throughout the rest of the phases. But that's the word as of recently. Who knows if they will change their mind later. The idea behind bidding is that everyone has a shot at getting a home.

They have so many buyers on their wait list I'm surprised that it took them that long to do bidding on the lots.

 

[Danimal]

The idea behind bidding is that everyone has a shot at getting a home.

Completely nonsense that TB wants everyone having a shot with bidding.

They just want to maximize profit. As simple as that.

 

[sleepy5136]

The idea behind bidding is that everyone has a shot at getting a home.

Completely nonsense that TB wants everyone having a shot with bidding.

They just want to maximize profit. As simple as that.

Maybe I should have mentioned I'm quoting what the TB sales representative said

The ones that are next on the list are the ones that screwed over.

 

[anteaterMD]

So apparently the bidding is happening on the "popular/private" lots. The goal is not to have bidding throughout the rest of the phases. But that's the word as of recently. Who knows if they will change their mind later. The idea behind  ;Dbidding is that everyone has a shot at getting a home.

They have so many buyers on their wait list I'm surprised that it took them that long to do bidding on the lots.

My thoughts exactly.

 

[talkirvine]

I am wondering if anyone who has got an earlier phase would like to assign their contracts?

 

[callmehere]

Everything has a price I?m sure, but with the way are going now, it?s easy to say the transfer is worth $300-400k!  Crazy but true?

 

[usctrojancpa]

I have a buyer who has a Sagewood with the contemporary elevation at Evergreens on a premium lot location that may be interested in selling after the purchase (I don't believe that Toll will allow assignments of the home).  If anyone is interested, PM or email me for details.

 

[anteaterMD]

Looks like the bidding wars are beginning to reflect in pricing with even numbers. 

May the best FCB win.
/s (?kinda?)

 

[usctrojancpa]

Looks like the bidding wars are beginning to reflect in pricing with even numbers. 

May the best FCB win.
/s (?kinda?)

I've heard from the sales person that I've worked with that the bidding will continue on ALL the lots, not just the premium lots.

 

[anteaterMD]

Looks like the bidding wars are beginning to reflect in pricing with even numbers. 

May the best FCB win.
/s (?kinda?)

I've heard from the sales person that I've worked with that the bidding will continue on ALL the lots, not just the premium lots.

Thank you for sharing. This is consistent with what I?ve heard as well.

 

[usctrojancpa]

Looks like the bidding wars are beginning to reflect in pricing with even numbers. 

May the best FCB win.
/s (?kinda?)

I've heard from the sales person that I've worked with that the bidding will continue on ALL the lots, not just the premium lots.

Thank you for sharing. This is consistent with what I?ve heard as well.

Yeah, why would they change that when they have more buyers on the wait list than homes available for sale.