With just over two and a half weeks under their belt, CalAtlantic’s newest 55+ community in Del Sur, Auberge, is selling faster than you can say “I’ll take it!” (and making many home owners happy in the process). This spectacular new construction community stands out among the available homes in San Diego for not only quality, but the experience. Three different price points with three different communities of homes has gathered more interest than we’ve seen in ANY new construction community.
When we first piled into the shuttle on top of the hill across from the community, the anticipation was overwhelming! We had been following and reporting on this community since July of 2015 and we were FINALLY getting to see the inside (without hiding from the security guards). The convenience of the location and the gorgeous canyon topography is breathtaking, while the homes themselves are flowing, open spaces with high end materials. Close to the Del Sur Town Center, set to include a variety of restaurants and shops, and all that Santaluz, Carmel Valley, & Del Mar has to offer, this master-on-the-bottom, new construction community is truly one of a kind.
Our favorite Cottages & Villas Plan, both the Plan 3, are similar in their long back yards and surprising spacious feeling while still perfect for those looking to downsize. The Summer House homes blow us away with breathtaking open layouts and a view into the canyon after stepping inside from the front door. Tempted by sheer beauty and layout, we experienced some guests who originally thought downsizing to be a priority, now considering the option of larger social gatherings gaining in importance. If this were a popularity contest, Summer House you are it.
WHAT WE LEARNED
Because CalAtlantic is building Auberge so fast, the builders have made a lot of the choices the client would usually be able to make in the first two sales releases. This requires buyers to be a little more flexible with options. Both sales releases on the 19th and 26th sold out, with many buyers left clamoring for the next release date. The option to buy is a privilege not easily given with this new community.
Whether or not you are familiar with the way new construction homes are sold in Del Sur, you are likely in for quite a surprise with the process, and perhaps the prices. There was no phone release as might be the norm for new construction, as there are simply too many buyers on the priority list to make that option feasible. These have all been on-site releases full of anxious, potential buyers, which heightens emotions for those watching the person in front of them selecting the home they were desperately hoping to buy.
Unlike other new home construction communities in Del Sur, Auberge homes are both selling AND being built incredibly QUICKLY – it is projected that about 3/4 of the community will have closed escrow by December. In a community of 206 homes, this will bring many new homeowners to the area by the end of 2016. There are a few key factors for the high demand:
All plans have Master Bedrooms on the bottom
Inventory in Del Sur – especially on a canyon, is very expensive
Interest rates are still low
THE BABY BOOMER IS KING
One of the driving factors of the demand for Auberge is the lifestyle. The community is modeled after another in Ranch Mission Viejo (See our tour of that community here!), which enabled CalAtlantic to take all suggestions and triumphs with that model community and bring it here.
The equity in many buyers’ current or previous homes affords them the opportunity to buy in cash or finance very little. Some are also allowed to keep their tax basis of their previous home thanks to Prop 90.
SO MANY EMOTIONS
Because of previous experiences, sometimes buyers think it will be easy to saunter in and scoop up a home, but that is not the case. Serious buyers have been online, on the phone and in person with their agent or rep for months and have taken all the steps necessary to have a place in line.
The lottery style name call is nerve racking! There are boards with each house being released up front, chairs full of eager people under a large tent, and tension building with every name called and home spoken for. We were thrilled one of our clients was able to buy during the second sales release, and we still have others waiting patiently. Prices have increased with each sales release, furthering interested buyers’ eagerness to secure a spot sooner rather than later.
NOT FOR EVERYONE
Although these homes are flying off the shelf, there are always factors to consider before the purchase. Some buyers, although intrigued by the amenities, don’t want the age restriction of the community. Some question what it will be like living amongst those over 55, and whether re-selling their home one day to someone age appropriate will be a burden. Finally, those making the change are not ready to do it all now, and are not yet ready for the 180 day per year residency requirement.
These homes will go fast, but you still have time to get in the game! Michelle has been keeping a hand on the pulse of this community since day one and is able to get you timely information so you never lose a chance to buy.
There is NO difference in price when using a Realtor® or a rep, but it could save you time, patience and money if you have someone looking out for your best interest. There are also strict timeline constraints and deadlines that can be hard without representation. You are allowed to re-register every 60 days — so if you missed the first chance to have Michelle represent you, there is still ample time to go with her and register.