[syn0r]

Great information here, and this is what pushed me to purchase a home at Inspirada. My wife and I along with our daughter will be moving into the Van Gogh 3161 model, and I have been told that groundbreaking will begin near August 1st.

With a heavy assortment of upgrades (including a gameroom + theater expansion which adds approx 500 sq feet more), we are looking at about $72.97 per square foot.

These plans seem to be selling fast, so I'm very hopeful that work will begin on Village 2 in the near future. Thanks for the great updates everyone, and congrats to those who are moving in as well!

[jfkIII]

Just curious...does the Van Gogh 3161 model...have a left ear?

[plaster3]

Very funny @ jkfIII! It isn't the weekend yet!

Now I'm really excited about this development. Because of the elongated lots that weren't developed, I just assumed that these were the Van Gogh models because the existing Village floorplans (i didn't think) could accomodate the Van Gogh model.

That just means that there is some heavy development going on to finish up this first village, which is very good news.

The 3100 model is simply gorgeous - the layout is spacious (to reduce builder costs), but also it gives the homeowner freedom to design their home as they like it. I'm really excited to see this Village fill out. If I was a betting man, I'm going to say by Summer 2012 they will be doing closeouts.

I haven't heard anything major in regards to the major settlement currently being finalized between the homebuilders and the BK Trustee (and lenders). If I hear anything, I will make sure you hear about it first.

Toll Brothers recently poured the foundation down on what is probably going to be their last condo-type unit for a while. For so long it was just an empty pad in the middle of three completed units. I'm glad they are going to build it out, just to make the entrance a bit more appealing. Crews are doing some offsite work on the townhome pads, so expect more townhomes breaking ground in the coming months.

Again, thanks to all the activity on this thread - keep it going strong - I'll continue to update this forum quarterly on overall progress of the development. If you have ANY questions, post it here or DM me. I'll answer your questions as soon as I can.

[plaster3]

Oh, and WELCOME TO THE COMMUNITY SYN0R!

[syn0r]

Originally Posted by plaster3

Oh, and WELCOME TO THE COMMUNITY SYN0R!

Thanks much! Looking forward to being a part of it real soon.

[offset_98]

Update: Ground breaking begins Aug. 5th on these models.

[Spraynard Kruger]

What does case "shiller" have to say about Inspirada?

[plaster3]

@ offset_98 - exciting news! This time of the year is really great for the homebuilders - we're seeing a lot of interested activity over the past couple weekends - let's hope we have another strong summer like 2010.

@ Spraynard - good ol' Case Shiller! Well we know that they won't be specific on any one MPC, but their reports are still showing a lot of instability with the Las Vegas Market.

I've said this to a few people already, but Inspirada is going to be unique in terms of how you want to value these homes. If you go on Zillow or Cyberhomes, you are going to be a closed view of what these homes are valued at. You need to go to an appraiser who can provide reasonable comps that aren't distressed.

See, Inspirada really has three "stages" of development, based on different variables. Since it broke ground right before the bubble burst, there are homeowners who paid inflated prices for their residence. Many of these current listings (through my contacts), are ultimately going to be short sales. Homes that were bought for $275K in late 2007 are listed for half that today. Seller motivations have to be taken into account.

The second group you have is my group - those who took "advantage" of the homebuyer credit. These gave homebuilders an opportunity to keep prices "stabilized" while offering great home add ons. Even these savings couldn't stop the invevitable, because you have to let the market dictate when the prices will bottom out. Therefore, homebuilders are building more "open space" models, thereby reducing construction costs and reducing prices commensurate to that to maintain margins.

That is the third and current generation. These homeowners are going to enjoy 2,000 sqft. homes for the same price per sq. ft. that I'm enjoying my two year old home. I'm not bitter - I know things will rebound.

If we continue to see activity in the development, chances are you going to see more comps that also are directed to neighboring communities, such as Anthem and Madeira Canyon, which have not seen the same type of instability as seen in other zip codes.

That's just my opinion though - I'm very excited to see what the third quarter figures are for the community.

[olecapt]

Originally Posted by Spraynard Kruger

What does case "shiller" have to say about Inspirada?

CS deals with resales...the new build in there is down to about $100 per SF. The resales are running $10 to $15 less. That is actually pretty good for Las Vegas where it is generally closer to $25.

The average in Inspirada peaked at $150 per SF. There were a few sales at $200. At the moment it is down about 33%.

[Spraynard Kruger]

Originally Posted by olecapt

CS deals with resales...the new build in there is down to about $100 per SF. The resales are running $10 to $15 less. That is actually pretty good for Las Vegas where it is generally closer to $25.

The average in Inspirada peaked at $150 per SF. There were a few sales at $200. At the moment it is down about 33%.

The humor was subtle, Olecapt. I guess it went over your head, too.