Sunday, February 17, 2008

Pulte shutters Stellan Ridge in Riverside

Pulte Homes has stopped building at their Stellan Ridge development in Riverside. I stopped by the sales office today and got the news from the sales lady. She had one home left that fell out of escrow. It seems that they are losing just a little too much on these so they have decided to halt construction until the market improves (or they sell the lots which is more likely).
This was a little bit of a disappointment to me since this is probably my favorite new tract. Had these dropped another $100k I would probably have bought one. These homes were awesome and in what I feel is the best area of Riverside. These started out at 1.4 million in late 06, quickly dropped and dropped and dropped until the last price I saw was starting at $726k. I was really hoping to be able to pick one of these up around $600k. Maybe in a year there will be a foreclosure or two in here. I'll keep my fingers crossed but I'm not holding out much hope.

5 comments:

Angela said...

These are really nice homes. They are fighting to keep Overlook (Drive?) from being opened up to Allesandro. Not the best school district in Riverside though. Most in that area probably use private schools anyway.

Good luck and hope you find a home in there that you think is priced fair. Just be patient.

Angela

golfer_X said...

I thought that area had decent schools. Don't they use Poly High?

Anonymous said...

um actually, RUSD is in fact one of the best district in Riv Co. Poly is a fabulous highschool. Now, I am not fond of the elem or middle school these children would go to.

BaseballDad2011 said...

For Sale (MLS-listed)
$699,0008048 HORIZON VIEW Dr
Riverside, CA 92506
Last Sale: $1,282,000 (01/27/2006)
Listing: First Team SNS Real Estate

Any advice on homes in this area? Who would pay 1.3 Million for homes here?

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