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Old 02-09-2015, 07:35 AM
 
18 posts, read 33,524 times
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Quote:
Originally Posted by rusty78 View Post
Have to go with City Guy on this one. The larger homes on the Executive Side, San Marco & Murano, are selling new in the high $500K range. But re-sales on the same homes are in the $520 to $530 Range, many less than 2 years old.

Rusty, look again, regales on San marcos and murano are more like 625-650 range, haven't seen anything in awhile for 520
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Old 02-09-2015, 02:34 PM
 
18 posts, read 33,524 times
Reputation: 27
Quote:
Originally Posted by Retirednypd View Post
Rusty, look again, regales on San marcos and murano are more like 625-650 range, haven't seen anything in awhile for 520
Murano model for sale ,a resale medium lot, no pool 5 years old selling for 679, that's average for the developments down there??? Sounds as bad as NY
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Old 02-09-2015, 10:33 PM
 
1,905 posts, read 2,795,888 times
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Quote:
Originally Posted by City Guy997S View Post
I was talking about real estate in general. Prices are getting back to "boom" levels again and there is no real reason for it. No big commercial changes (not like a new factory moved to town employing thousands of new people), not like the houses are improved (most in fact are just now 5-7 years older than the last time they were in demand), etc.
Well truth be told most national builders are targeting that type of builder. The move up buyer is what they are going after which means upscale homes. Plus in South Florida land is scarce so buying land is expensive so that's what I mean when I say what the development is worth. But yeah I see it how it can be unaffordable to the typical buyer but think about markets in Southern Cali where land is also scarce and they are charging up to 900,000 just for a simple 4 bedroom home. But I'm not a real estate agent so can really say how the market is.
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Old 02-10-2015, 03:37 AM
 
Location: Jupiter
1,108 posts, read 4,223,138 times
Reputation: 647
Quote:
Originally Posted by Retirednypd View Post
Rusty, look again, regales on San marcos and murano are more like 625-650 range, haven't seen anything in awhile for 520
Here in Rialto there are several real estate agents and almost monthly they mail a copy of what has sold and what is for sale. There are three re-sale San Marco homes on my block for sale, all in the upper $500K range. One of the homes has been for sale for almost a year now, has hardly been lived in, since the owners are in California and they recently lowered the asking price.

Unfortunately, the last San Marco to sell that was owned by a real estate agent and sold for $529K. Possibly a more recent sale of a San Marco was for $539K but I have not seen any info on the sale and I cannot find it on any of the real estate sites. There should be a new notice coming shortly of sales and if still interested I will post or mail it to you for your review! Hopefully you are right, but from what I have seen you can get a better deal on a re-sale.
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Old 02-11-2015, 03:47 AM
 
Location: Jupiter
1,108 posts, read 4,223,138 times
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Quote:
Originally Posted by UFGators View Post
I think you would have a hard time making money in Rialto now. If you bought 2 to 3 years ago you are doing well in there, but they have really raised prices in that community. We looked at a lake lot 1 year ago and they wanted $100K in just lot fees! That was one of the nicer lots but it wasn't that nice. Still had I95 noise and those lights from the fields across the street. But it is a nice family community.

I heard that Divosta sold the Lakewood development to Pulte, so they will be developing it under the Divosta name.

DiVosta owns Pulte, so as mentioned earlier, old man DiVosta just sold the property to himself taking a $40 Million profit. Not a bad deal!!! To prevent any arguments, just go to the DiVosta Web-Site and you will see Pulte listed as owned by DiVosta.

Regarding an earlier post I made regarding the sale of a San Marco home for $539K recently. Unfortunately, the buyer's bank appraiser valued the home for much less and the home eventually sold for $515K. Perhaps the owner just wanted to sell, or even worse, perhaps that never lived in model that Lennar is selling, is somewhat over priced???
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Old 02-11-2015, 06:46 AM
 
72 posts, read 227,620 times
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Quote:
Originally Posted by rusty78 View Post
DiVosta owns Pulte, so as mentioned earlier, old man DiVosta just sold the property to himself taking a $40 Million profit. Not a bad deal!!! To prevent any arguments, just go to the DiVosta Web-Site and you will see Pulte listed as owned by DiVosta.

Regarding an earlier post I made regarding the sale of a San Marco home for $539K recently. Unfortunately, the buyer's bank appraiser valued the home for much less and the home eventually sold for $515K. Perhaps the owner just wanted to sell, or even worse, perhaps that never lived in model that Lennar is selling, is somewhat over priced???
I think you are confusing Divosta the man with Divosta the company. Mr Divosta sold his company to Pulte over 10 years ago for a large sum. Pulte kept the Divosta name because of its reputation and continued to build communities under "Divosta".

The Lakewood site was purchased by Mr. Divosta, he got the town of Jupiter to approve building homes on it, and then he sold it to Pulte to build the homes with the Divosta company name.
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Old 02-11-2015, 08:19 AM
 
Location: South Florida
623 posts, read 968,427 times
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Quote:
Originally Posted by UFGators View Post
I think you are confusing Divosta the man with Divosta the company. Mr Divosta sold his company to Pulte over 10 years ago for a large sum. Pulte kept the Divosta name because of its reputation and continued to build communities under "Divosta".

The Lakewood site was purchased by Mr. Divosta, he got the town of Jupiter to approve building homes on it, and then he sold it to Pulte to build the homes with the Divosta company name.
I agree Pulte bought the Divosta name years ago but Mr Divosta is still buying land and just sold it to the Pulte people operating under the Divosta name brand. I believe the land is near the Florida turnpike.
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Old 02-12-2015, 05:09 AM
 
Location: Jupiter
1,108 posts, read 4,223,138 times
Reputation: 647
Quote:
Originally Posted by UFGators View Post
I think you are confusing Divosta the man with Divosta the company. Mr Divosta sold his company to Pulte over 10 years ago for a large sum. Pulte kept the Divosta name because of its reputation and continued to build communities under "Divosta".

The Lakewood site was purchased by Mr. Divosta, he got the town of Jupiter to approve building homes on it, and then he sold it to Pulte to build the homes with the Divosta company name.
As they say, "Live and Learn" - but I was only going on the information supplied to me by a DiVosta Salesperson when we were looking for a home in Windsor Park.
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Old 02-12-2015, 08:26 AM
 
Location: Jupiter, Florida
96 posts, read 188,664 times
Reputation: 76
Prices in this area are still below the height of the boom if only slightly - late 2004 prices. And they seem to be on the way up. A lot of people have been waiting to sell and some are still waiting. There isn't a lot of inventory.

Lakewood:

Otto "Buzz" DiVosta sold his namesake company in 1998 to Pulte for $155 million. DiVosta Homes has been a subsidiary of Pulte Group since then.

In a separate more recent deal, Pulte' DiVosta Homes subsidiary bought the 260 acre track of land which will be developed into Lakewood from Buz DiVosta for $48 million which Buzz DiVosta's company, DiVosta Investments LLC, purchased from WCI in 2011.

Pulte's DiVosta Homes purchased the parcel after Buzz DiVosta got the Town of Jupiter's approval for the Lakewood development. The purchase was announced on Jan 29,2015. No news as to if and when Pulte or DiVosta Homes will break ground and there is nothing about Lakewood on the Pulte Group or DiVosta Homes websites.
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Old 02-12-2015, 11:50 AM
 
Location: Jupiter, Florida
96 posts, read 188,664 times
Reputation: 76
Also Buzz DiVosta's Investment Company owns the small subdivision on N Central Blvd. where Church St terminates. The development, Cocoanut Cove, has 31 lots from a little less than .25 acres to just under .5 acres. The infrastructure has been in for 8-9 years with no sign of homes being built just yet. None of the lots are up for sale.
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