REAL ESTATE : New Development Builders Encouraged by Opening-Day Sales
It’s not all grim out there in home-building land. A number of new home builders are reporting opening day successes at their latest developments.
Two of the latest reports:
* It took A-M homes of Southern California just one day to sell all 22 homes in the first phase of its Villages in La Mirada project last weekend, said Larry Webb, president of the Newport Beach-based company. The homes weren’t cheap, either--prices were from $258,000 to $310,000. Webb said more than 1,000 people toured the models over the weekend.
* Fieldstone Co., another Newport Beach builder, held a lottery Oct. 19 to sell the first 15 homes in its Fieldstone Crest project in Chino Hills. A spokesman for the company said that 46 people had submitted loan applications and were pre-qualified to buy and that more than 3,000 people toured the models in the two weeks before the sale. Prices ranged from $249,990 to $295,990. Remember when Chino Hills was the low-priced spread?
