talon ranch - the hoffman company...2015/09/29 · t he 13 h offman c ompany esie oferin meorand...
TRANSCRIPT
EXCLUSIVE OFFERING MEMORANDUM
Justin Esayian, CA BRE #01513596
T 949.705.0921 | [email protected] HOFFMAN COMPANYSouthern California Office18881 Von Karman Avenue, Suite 150Irvine, CA 92612T 949.553.2020 | F 949.553.8449CA BRE #01473762
www.hoffmanland.com Land BrokersRealty Advisors
The
Hoffman
Company
N
COBALT RD
TOPAZ RD
TALON RANCH159 Near Finished Lots
City of Victorville | San Bernardino County, CA
LUNA RD
LA MESA RD
15
PALMDALE RD
DOS
PALM
AS R
D
DISCLAIMERThe information contained in this offering material (“Brochure”) is furnished solely for the purpose of a review by prospective purchaser of any portion of the subject property in the City of Victorville, County of San Bernardino California (“Property”) and is not to be used for any other purpose or made available to any other person without the express written consent of Scheel Dallape Inc. d/b/a The Hoffman Company Organization (“The Hoffman Company”). The material is based in part upon information obtained by The Hoffman Company from sources it deems reasonably reliable. Sum-maries of any documents are not intended to be comprehensive or all inclusive but rather only an outline of some of the provisions contained therein. No warranty or representation, expressed or implied, is made by Seller, The Hoffman Company, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, includ-ing engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the site.
This Brochure was prepared by The Hoffman Company. It contains select information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may desire. All assumptions are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore, are subject to material change or variation.
In this Brochure, certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents.
This Brochure is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Prop-erty by The Hoffman Company or the Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.
Seller and The Hoffman Company expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the property and/or to terminate discussions with any party at any time with or without notice. Seller shall have no legal commitment or obligation to any purchaser reviewing this Brochure or making an offer to purchase the Property unless a writ-ten agreement for the purchase of the Property has been fully executed, delivered and approved by the Seller and any conditions to Seller’s obligations there under have been satisfied or waived. The Hoffman Company is not authorized to make any representations or agreements on behalf of Seller.
This Brochure is the Property of The Hoffman Company and may be used only by parties approved by The Hoffman Company. The Property is privately offered and, by accepting this Brochure, the party in possession hereof agrees (i) to return it to The Hoffman Company immediately upon request of The Hoffman Company or Seller and (ii) that this Brochure and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Brochure may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of The Hoffman Company and Seller.
Please be advised, Buyer acknowledges that The Hoffman Company Organization, may (1) act as an agent for more than one prospective Buyer on the subject property and/or (2) act as the agent for both the Buyer and Seller on the subject property. Any prospective Buyer requesting The Hoffman Company to submit an offer on its behalf acknowledges the foregoing disclosures and agrees to the described agency relationships with other prospective Buyers.
The terms and conditions set forth above apply to this Brochure in its entirety.
Offer Guidelines
Property Overview
Aerials & Maps
Area Overview
Market Overview
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3
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TABLE OF CONTENTS
1
OFFE
R GU
IDEL
INES
Talon Ranch | VICTORVILLE
1OFFER GUIDELINES
5The
Hoffman
Company
Exclusive Offering Memorandum
OFFER GUIDELINES
Seller
Luna Topaz, LP
Proposed Deal Structure
Buyer to purchase property for all cash, as a bulk sale, as-is purchase.
Price
$32,500 per as-is lot.
Opening of Escrow
Within one (1) business day after mutual execution of the LOI, Seller and Buyer would
open an escrow with First American Title Company.
First Deposit
Within one (1) business day after opening escrow, Buyer would wire into escrow an
amount equal to two percent (2%) (“First Deposit”). The First Deposit would be refund-
able and held in escrow pending Buyer’s election to proceed with or terminate the
transaction.
Second Deposit
Prior to the end of the Feasibility Period (as defined below), Buyer would wire into es-
crow a total deposit equal to five percent (5%) of the Purchase Price (“Total Deposit”).
If Buyer provides written notice of its intent to proceed with the transaction (“Approval
Notice”) in a timely manner, then the Total Deposit would be released to Seller, be-
come non-refundable except in the event of a Seller default, and be applicable to the
Purchase Price. Otherwise, the Total Deposit, less any escrow cancellation fees, would
be returned to Buyer.
Feasibility Period
Buyer will conduct its feasibility within forty-five (45) calendar days after mutual execu-
tion of the LOI (“Feasibility Period”) and provide its Approval Notice. Failure to provide
an Approval Notice in a timely manner would result in an automatic termination of the
transaction and any deposits made, less any escrow cancellation fees, would be re-
turned to Buyer.
Close of Escrow
Close of escrow shall occur ten calendar days after the approval of feasibility (“Closing
Date”).
Disclaimer
Materials to be provided in connection with this potential transaction are for informa-
tional purposes only. While the provider of these materials has exerted a reasonable
effort to be accurate, no representations or warranties as to accuracy shall be deemed
to have been made by Seller. Furthermore, no offer of sale shall be deemed to have
been made by the mere presentation of these materials.
Offer Submittal
Please submit offering in writing to:
The Hoffman Company
Attn: Justin Esayian & Norm Scheel
18881 Von Karman Ave., Suite 150
Irvine, CA 92612
Tel 949.705.0921
2
PROP
ERTY
OVE
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SITE DETAIL
Talon Ranch | VICTORVILLE
2PROPERTY OVERVIEW
7The
Hoffman
Company
Exclusive Offering Memorandum
Location
The property is located in west Victorville, west of I-15, south of Palmdale Road, east of
Highway 395 on the northeast corner of Luna Road and Topaz Road.
Surrounding Area
At the peak of the market this location was highly desirable amongst the home build-
ers. The proximity to Highway 395 and Palmdale Road provides excellent access to the
rest of the City and I-15 Freeway. Generally this part of west Victorville has a fresher and
newer feel relative to eastern and northern Victorville. The majority of the housing stock
in the immediate vicinity has been built in the past 10 to 15 years.
Minimum Lot Size
7,200 SF Minimum
Tract Map
Recorded final tract map 14741
Property Condition
The Subject site lots are in a near finished condition with lots cut and all utilities, streets,
and curbs installed.
Cost to Complete
Buyer to Determine
CFD
None
HOA
None
School District
The subject site is served by the Adelanto Elementary Unified District and Victor Valley
Union High School District.
Morgan-Kincaid Elementary School (K - 6)
13257 Mesa Linda Avenue, Victorville, CA 92392
2013 Growth API Score: 785
Mesa Linda Middle School, (7-8)
13001 Mesa Linda Avenue, Victorville, CA 92392
2013 Growth API Score: 681
Silverado High School , (9-10)
14048 Cobalt Road, Victorville, CA
2013 Growth API Score: 670
TALON RANCH
Talon Ranch | VICTORVILLE
2PROPERTY OVERVIEW
8The
Hoffman
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Exclusive Offering Memorandum
Tax Collector » Bill Display
Bill Display for 140732887*9 as of 3/24/2015
Parcel Number 3094-031-66-0000
Owner Type Name Address
BILLED OWNER LUNA TOPAZ LP Protected per CA. Govt. Code Sect. 6254.21
SITUS ADDRESS Protected per CA. Govt. Code Sect. 6254.21
Parcel 3094031660000 Default Date 2015-06-30 Tax Type AS - Annual Secured
Bill 140732887*9 Extend Date 2014-09-19 Effective Date 2014-07-01
Corrected From Corrected To Eligibility A - ELIG EXTENDED
Tax Rate Total 0.011842 Tax Rate Area 000012101 Tax Rate Year 2014
Valuation Type Assessed
Land $17,000.00
Personal Property $0.00
Improvement $0.00
Personal Property Penalty $0.00
Improvement Penalty $0.00
Total Value $17,000.00
Homeowner Exemption $0.00
Veteran Exemption $0.00
Other Exemption $0.00
Net Value $17,000.00
Installment 01
Due Amt $189.58
Delq Amt $208.55
Due Date 2014-12-10
Pmt Posted 2014-12-01
Installment 02
Due Amt $189.53
Delq Amt $218.49
Due Date 2015-04-10
Total Tax $379.11
Pay Status 1ST INSTALL PAID
Service Agency Amount Service Agency Amount
GENERAL TAX LEVY $170.00*VV LANDSCAPE MAINT AD6(760) 955 - 5217
$124.75
*VV CITYWIDE SLAD(760) 243 - 6355
$14.28*STANDBY AVAIL-VWD ID#1(760) 955 - 2987
$10.30
VV COMM COLLEGE MEASURE JJ(760) 245 - 4271
$4.45 SCHOOL BONDS $0.00
VICTOR VALLEY UNION HS BON(760) 955 - 3200
$13.09ADELANTO ELEMENTARY BOND(760) 246 - 8691
$13.77
SCHOOL STATE REPAYMENT $0.00##MOJAVE WTR BOND DEBT #2(760) 946 - 7000
$9.35
#MOJAVE WATER BOND DEBT #1(760) 946 - 7000
$19.12
County of San Bernardino - Treasurer-Tax Collector - Bill Details https://www.mytaxcollector.com/BillDisplayPublicPrint.aspx
1 of 1 3/24/2015 2:13 PM
EXAMPLE CURRENT TAX BILL | LOT 66
LOT 66
LUNA RD
TOPA
Z R
D
3
AERI
ALS
& M
APS
Talon Ranch | VICTORVILLE
3AERIALS & MAPS
10The
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Exclusive Offering Memorandum
CLOSE UP AERIALN LUNA RD
TOPA
Z R
D
EVAN
STON ST
Talon Ranch | VICTORVILLE
3AERIALS & MAPS
11The
Hoffman
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Exclusive Offering Memorandum
VICINIT Y AERIAL WITH AREA RETAIL
TALON RANCH
VISTA VERDE
FOX FIRERANCH
LIBERTY PARK
N
395
LA MESA RD
LUNA RD
DOS PALMAS RD
18
AMET
HYS
T R
D
TOPA
Z RD
MOJAVE DR
SILVERADOHIGH SCHOOL
MORGAN-KINCAIDELEMENTARY SCHOOL
MESA LINDAMIDDLE SCHOOL
4
AREA
OVE
RVIE
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Talon Ranch | VICTORVILLE
4AREA OVERVIEW
13The
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VICTORVILLE INFO & DEMOGRAPHICS
ClimateAverage TemperatureJanuary high 60º, low 32ºJuly high 99, low 62º
Average Annual Rainfall 6.27 inches
Population (2012)Total: 120,336
Rank in County: 5th
Rank in State: 50th
MedianAge: 30.7
Average Household Size: 3.03
Average Family Size: 3.47
Major EmployersAccording to the City’s 2009 Comprehensive Annual Financial Report, the top
employers in the city are:
1 Southern California Logistics Airport 2,0732 Victor Valley College 1,1503 Desert Valley Hospital 1,0004 Verizon 9405 Victor Valley Union High School District 8776 Victor Elementary School District 8487 Federal Correctional Complex, Victorville 8448 Walmart 8309 Victor Valley Community Hospital 548
Victorville City Hall
Victorville, CA
Southern California Logistics Airport
Source: wikipedia.org
City InfoState: California
County: San Bernardino
Mayor: Jim Cox
Founded: 1858
Incorporated: Sep. 21, 1962
Website: ci.victorville.ca.us
Victorville
Victorville
Talon Ranch | VICTORVILLE
4AREA OVERVIEW
14The
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VICTORVILLE OVERVIEW
Victor Valley CollegeVictor Valley Community College uplifts the
diverse communities we teach and serve by
promoting educational excellence, enhanc-
ing local prosperity, and ensuring environ-
mental leadership.
Victor Valley College, located in the High
Desert region of Southern California offers
traditional and online courses and 2 year
degrees.
http://www.vvc.edu/
Victor Valley AirshowLook, up in the sky. The Victor Valley Air
Show took place in September 2008 at Ap-
ple Valley Airport- the first time since the
mid-1990s that Apple Valley held the event.
The free show included stationary World War
II planes and plenty of aerobatics.
www.scfta.org
SB County Fair in VictorvilleIt’s a rare day that the sun isn’t shining in Vic-
torville, CA, and that’s good news for those
going to the fair. This annual event draws
thousands of people from a 100-mile radius,
who come for a collection of thrilling rides,
superstar acts and prized produce. The most
recent fair had concerts from Clay Walker,
Creedence Clearwater Revisited and Skillet,
to name a few.
www.sbcfairevents.com
Mojave Narrows Regional ParkLocated alongside an old riverbed in the high
desert. Mojave Narrows offers lush plant
growth, acres of waterways, impressive strands
of cottonwood and willows and broad meadows
all naturally landscaped by nature. The park is
home to more than 1,500 species of watchable
wildlife.
http://cms.sbcounty.gov/parks/Home.aspx
In about 1885, the community was known as Victor. It was named after Jacob Nash Victor, a construction superintendent for the California Southern Railroad
(Santa Fe Railroad). The town was established as a result of the original railroad station constructed approximately one mile northwest of the narrows of the
Mojave River. On January 18, 1886, the Plan of the Town of Victor was prepared which created the grid pattern of the original town. This original subdivision
included property between “A” Street through “G” Street and First Street through Eleventh Street. The area encompassed approximately 200 acres or one-third
of a square mile. The abundance of good water and the availability of rich bottom lands led to agricultural development shortly after the establishment of
the railroad depot. Near the turn of the century, large deposits of limestone and granite were discovered. Since then the cement manufacturing industry has
emerged as the single most important industry of the Victor Valley.
Source: www.ci.victorville.ca.us
Talon Ranch | VICTORVILLE
4AREA OVERVIEW
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VICTORVILLE OVERVIEW
St. Mary’s Hospital St. Joseph Health, St. Mary has broken ground on the new $261 million hospital and expects completion in 2016.
A total of 1,235 jobs are expected to be created in the construction sector alone, previous reports show. The facility will
consist of 128 beds and be the first trauma center in the High Desert, according to previous reports. It is also believed that
it will provide quicker access to health care for many Victorville and Hesperia residents, who comprise 75 percent of the
patient base at St. Joseph Health, St. Mary in Apple Valley.
The new hospital is expected to become a trauma center equipped to provide emergency medical services to patients suf-
fering traumatic injuries. Between 440 and 480 trauma patients get transported to Loma Linda University Medical Center
or Arrowhead Regional Medical Center every year from the High Desert, Garrett said.
The 98-acre property is located along Amargosa Road between Bear Valley Road and Main Street in the City of Victorville.
Source: Daily Press, March 18, 2014
California Route 66 MuseumIt has a lot of stops from Chicago to L.A., and the folks at the California Route 66 Museum want to make sure travelers along
the Mother Road know that Victorville is worth a visit. The museum was founded in Old Town Victorville in November
1995, taking up quarters in the former Red Rooster Café, a roadhouse used in the filming of the “Jazz Singer” remake with
Neil Diamond.
The museum does get some travelers heading the other way, and it does a brisk business in T-shirts, mugs, signage and
other Route 66 items. It also serves as home to a growing exhibition of historic Route 66 memorabilia, as well as the major
remnants of Hula Ville, which was once one of the Mother Road’s most interesting attractions.
califrt66museum.org
The Mall of Victor Valley The Best Shopping, The Best Movies and More in the High Desert. As a top shopping destination in the community, they
have special incentives to visit, plus insight into nearby hotels, resorts or other attractions.
www.themallofvictorvalley.com/
Talon Ranch | VICTORVILLE
4AREA OVERVIEW
16The
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Exclusive Offering Memorandum
SOUTHERN CALIFORNIA LOGISTICS AIRPORT (SCLA) – GLOBAL ACCESS
Global Access in Victorville, Calif., is an 8,500-acre multimodal freight transportation hub supported by air, ground and rail connections. Prior to its civil usage, the facility was
George Air Force Base. The conversion of the former George Air Force base to the Southern California Logistics Airport (SCLA) was designed to provide major corporations with
logistics needs and access to a global intermordal logistics gateway to the Western United States. Approximately 3 million square feet have been built out to date, generating
more than 2,000 jobs. At build out, Global Access is expected to generate 24,000 jobs onsite and support another 18,000 jobs in the surrounding area.
The largest fully integrated commercial development in the region, Global Access is comprised of three development divisions which include:
Southern California Logistics Airport: (SCLA) is a 2,500-acre world-class aviation and air cargo facility serving international and domestic needs. The airport is served by two inter-
continental runways; a 15,050-foot x 150-foot runway and a 9,100-foot x 150-foot runway. The airport can accommodate all current-flying commercial and military aircraft with a
24-hour per day tower operation and emergency response capabilities comparable to the world’s largest airports.
SCLA offers 24-hour, seven-day-a-week operations with onsite U.S. Customs. It has been designated a Foreign Trade Zone (FTZ #243) and a Local Agency Military Base Recovery
Act (LAMBRA) Zone by the federal government.
Southern California Logistics Centre: a 2,500-acre commercial and industrial complex totaling 60 million square feet of diverse development. Features include: diverse product type of manufacturing and distribu-
tion facilities (some with direct rail spur access) from 2,500 to 2.5 million square feet, intermodal rail, international air cargo facilities and hangars, aviation maintenance facilities, corporate office campus, executive jet
travel and recreational amenities.
Tenants include: Boeing, Dr.Pepper/Snapple, Exel Logistics, FedEx, GE, Million Air, Newell Rubbermaid, Pacific
Aerospace, Plastipak, Pratt & Whitney, Red Bull, Sparkletts, and Vivint Solar, Walmart, to name a few.
Southern California Rail Complex: a planned 3,500-acre intermodal rail and multimodal complex including rail-
served facilities. Expanding its onsite multimodal capabilities as well as its time and cost advantages for goods
movement, the Southern California Rail Complex (SCRC) is a planned 3,500-acre intermodal and multimodal rail
and container storage complex with 60 million square feet of planned commercial development.
The Environmental Impact Report (EIR) complying with the California Environmental Quality Act (CEQA) was
approved in April 2004. The rail complex will provide relief and additional capacity to the congested intermodal
rail facilities and seaports within the Southern California region.
Planned Rail Development:
• 430-acre intermodal yard, including a 50-acre site for the Agile Port Demonstration Project
• 585-acre rail-served multimodal facility
• 1,000 acres of rail-served industrial sites
• Ability to process more than 1.5 million lifts annually
Source: www.GlobalAccessVictorville.com
Talon Ranch | VICTORVILLE
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AREA SCHOOLS EXHIBIT
Morgan-Kincaid Preparatory School of Integraded Studies, (K - 6)
13257 Mesa Linda Avenue, Victorville, CA
2013 Growth API Score: 785
Mesa Linda Middle School, (7-8)
13001 Mesa Linda, Victorville, CA
2013 Growth API Score: 681
Silverado High School , (9-10)
14048 Cobalt Road, Victorville, CA
2013 Growth API Score: 670
2 31
39518
LUNA RD
DOS PALMAS RD
TOPA
Z RD
COBA
LT R
D
LA MESA RD
The subject site is served by the Adelanto Elementary Unified District and Victor Valley Union High School District.
MESA LINDAMIDDLE SCHOOL
2
MORGAN-KINCAIDELEMENTARY SCHOOL
1
SILVERADOHIGH SCHOOL
3
TALON RANCH
5
MAR
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Talon Ranch | VICTORVILLE
5MARKET OVERVIEW
19The
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Exclusive Offering Memorandum
MARKET TRENDS: VICTORVILLE
Data as of 09/23/15 | Source: www.trulia.com
A V E R A G E P R I C E P E R S Q F T F O R H O M E S ( Y- O -Y ) N U M B E R O F L I S T I N G S
A V E R A G E L I S T I N G P R I C E M E D I A N S A L E S P R I C E
for week ending
September 9, 2015
Jun 2015 - Sep 2015
$214,887 $195,500H O M E S T A N D I N G S
889 Homes for Sale
6 Open Homes
1,496 Recently Sold
512 Foreclosures
545 Number of Sales
M A R K E T S U M M A R Y
The median sales price for homes in Victorville CA for Jun 15 to Sep 15 was $195,500. This represents an increase of 5.7%, or $10,500, compared to the prior quar-ter and an increase of 11.7% compared to the prior year. Sales prices have appreciated 56.4% over the last 5 years in Victorville. The average listing price for Victorville homes for sale on Trulia was $214,887 for the week ending Sep 09, which represents an increase of 0.1%, or $179, compared to the prior week and a decline of 0.6%, or $1,371, compared to the week ending Aug 19. Average price per square foot for Victorville CA was $104, an increase of 8.3% compared to the same period last year.
+$20,500
+11.7%y-o-y
+$179
+0.1%y-o-y
Talon Ranch | VICTORVILLE
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NEW HOME COMMUNITIES
Data as of 09/23/15 | Source: Real Estate Economics & Hoffman Research
W I L D F L O W E R @ L A S H A C I E N D A S | V I C T O R V I L L E
V I S T A P O I N T E | A D E L A N T O
S P R I N G F I E L D | V I C T O R V I L L E
1
2
3
OPENED MAR 2015
OPENED FEB 2015
OPENED MAR 2015
Product Type: DetachedTotal Homes: 45Total Sold: 14Total Remaining: 31
Product Type: DetachedTotal Homes: 51Total Sold: 36Total Remaining: 15
Product Type: DetachedTotal Homes: 135Total Sold: n/aTotal Remaining: n/a
Price Range: $222,990 - $259,990Price Per SF: $89 - $131Minimum Lot Size: 7,200 SFHouse Size: 1,698 - 2,899 SF
Price Range: $197,990 - $207,490Price Per SF: $102 - $105Minimum Lot Size: 7,200 SFHouse Size: 1,868 - 2,020 SF
Price Range: $226,990 - $266,990Price Per SF: $100 - $123Minimum Lot Size: 5,500 SFHouse Size: 1,834 - 2,653 SF
Base Tax Rate: 2.20%June 2015 Sales: 1July 2015 Sales: 1Aug 2015 Sales: 3
Base Tax Rate: 1.20%June 2015 Sales: 6July 2015 Sales: 4Aug 2015 Sales: 6
Base Tax Rate: 2.20%June 2015 Sales: Not ReportingJuly 2015 Sales: Not ReportingAug 2015 Sales: Not Reporting
V I S T A M A N Z A N I T A | A D E L A N T O4 OPENED JUN 2012
Product Type: DetachedTotal Homes: 166Total Sold: 137Total Remaining: 29
Price Range: $252,538 - $274,990Price Per SF: $89 - $129Minimum Lot Size: 7,500 SFHouse Size: 1,946 - 3,063 SF
Base Tax Rate: 1.80%June 2015 Sales: 3July 2015 Sales: 2Aug 2015 Sales: 1
S O R R E N T O H O M E S | H E S P E R I A | S O L D O U T5 SOLD OUT
Product Type: DetachedTotal Homes: 39Total Sold: 39Total Remaining: 0
Price Range: $259,900 - $295,000Price Per SF: $133 - $144 Minimum Lot Size: 7,000 SFHouse Size: 1,804 - 2,213 SF
Base Tax Rate: 1.25%June 2015 Sales: 3
Talon Ranch | VICTORVILLE
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NEW HOME PROJECTS LOCATION MAPN
Recently Closed
SPRINGFIELDOPENING APRIL 2015
FOXFIRE | CENTURY VINTAGE HOMESPROCESSING ARCHITECTURE
TALON RANCH
395
15
18
15
395
BEAR VALLEY RD
LUNA AVE
COTTONWOOD AVE
HESPERIA
ADELANTO
VICTORVILLE
HAPPY TRAILS HWY
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EXHIBITRESIDENTIAL HOUSING SCATTERGRAPH
$150,000
$200,000
$250,000
1,500 1,750 2,000 2,250 2,500 2,750
EFFE
CTIV
E BA
SE P
RICE
SQUARE FEET
PRODUCT POSITIONING VS. NEW HOUSING PRICES (LOWEST ADVERTISED) AND LOCAL AREA RESALES
Local Resales Resale Price Line Foreclosure Sales xxx Sales
xxx Sales Fore. Sale Price Line XXX Price Line XXX Price Line
Vista Manzanita (Adelanto) - 7500 sf Lots (3.66/mo.) Vista Pointe (Adelanto) - 7200 sf Lots (4.72/mo.) Wildflower (Victorville) - 7000 sf Lots (3.07/mo.) Sorrento Homes (Hesperia) - 7000 sf Lots (2.61/mo.)
New Home Price Line
EXHIBITRESIDENTIAL HOUSING SCATTERGRAPH
$150,000
$200,000
$250,000
1,500 1,750 2,000 2,250 2,500 2,750
EFFE
CTIV
E BA
SE P
RICE
SQUARE FEET
PRODUCT POSITIONING VS. NEW HOUSING PRICES (LOWEST ADVERTISED) AND LOCAL AREA RESALES
Local Resales Resale Price Line Foreclosure Sales xxx Sales
xxx Sales Fore. Sale Price Line XXX Price Line XXX Price Line
Vista Manzanita (Adelanto) - 7500 sf Lots (3.66/mo.) Vista Pointe (Adelanto) - 7200 sf Lots (4.72/mo.) Wildflower (Victorville) - 7000 sf Lots (3.07/mo.) Sorrento Homes (Hesperia) - 7000 sf Lots (2.61/mo.)
New Home Price Line
EXHIBITRESIDENTIAL HOUSING SCATTERGRAPH
$150,000
$200,000
$250,000
1,500 1,750 2,000 2,250 2,500 2,750
EFFE
CTIV
E BA
SE P
RICE
SQUARE FEET
PRODUCT POSITIONING VS. NEW HOUSING PRICES (LOWEST ADVERTISED) AND LOCAL AREA RESALES
Local Resales Resale Price Line Foreclosure Sales xxx Sales
xxx Sales Fore. Sale Price Line XXX Price Line XXX Price Line
Vista Manzanita (Adelanto) - 7500 sf Lots (3.66/mo.) Vista Pointe (Adelanto) - 7200 sf Lots (4.72/mo.) Wildflower (Victorville) - 7000 sf Lots (3.07/mo.) Sorrento Homes (Hesperia) - 7000 sf Lots (2.61/mo.)
New Home Price Line
EXHIBITRESIDENTIAL HOUSING SCATTERGRAPH
$150,000
$200,000
$250,000
1,500 1,750 2,000 2,250 2,500 2,750
EFFE
CTIV
E BA
SE P
RICE
SQUARE FEET
PRODUCT POSITIONING VS. NEW HOUSING PRICES (LOWEST ADVERTISED) AND LOCAL AREA RESALES
Local Resales Resale Price Line Foreclosure Sales xxx Sales
xxx Sales Fore. Sale Price Line XXX Price Line XXX Price Line
Vista Manzanita (Adelanto) - 7500 sf Lots (3.66/mo.) Vista Pointe (Adelanto) - 7200 sf Lots (4.72/mo.) Wildflower (Victorville) - 7000 sf Lots (3.07/mo.) Sorrento Homes (Hesperia) - 7000 sf Lots (2.61/mo.)
New Home Price Line
EXHIBITRESIDENTIAL HOUSING SCATTERGRAPH
$150,000
$200,000
$250,000
1,500 1,750 2,000 2,250 2,500 2,750
EFFE
CTIV
E BA
SE P
RICE
SQUARE FEET
PRODUCT POSITIONING VS. NEW HOUSING PRICES (LOWEST ADVERTISED) AND LOCAL AREA RESALES
Local Resales Resale Price Line Foreclosure Sales xxx Sales
xxx Sales Fore. Sale Price Line XXX Price Line XXX Price Line
Vista Manzanita (Adelanto) - 7500 sf Lots (3.66/mo.) Vista Pointe (Adelanto) - 7200 sf Lots (4.72/mo.) Wildflower (Victorville) - 7000 sf Lots (3.07/mo.) Sorrento Homes (Hesperia) - 7000 sf Lots (2.61/mo.)
New Home Price Line
EXHIBITRESIDENTIAL HOUSING SCATTERGRAPH
$150,000
$200,000
$250,000
1,500 1,750 2,000 2,250 2,500 2,750
EFFE
CTIV
E BA
SE P
RICE
SQUARE FEET
PRODUCT POSITIONING VS. NEW HOUSING PRICES (LOWEST ADVERTISED) AND LOCAL AREA RESALES
Local Resales Resale Price Line Foreclosure Sales xxx Sales
xxx Sales Fore. Sale Price Line XXX Price Line XXX Price Line
Vista Manzanita (Adelanto) - 7500 sf Lots (3.66/mo.) Vista Pointe (Adelanto) - 7200 sf Lots (4.72/mo.) Wildflower (Victorville) - 7000 sf Lots (3.07/mo.) Sorrento Homes (Hesperia) - 7000 sf Lots (2.61/mo.)
New Home Price Line
NEW HOME PROJECTS PRICE PER SQUARE FOOT CHART
Data as of 09/23/15 | Source: Real Estate Economics
(Sold Out Community)
Square Feet
Effec
tive
Bas
e Pr
ice
THE HOFFMAN COMPANYSouthern California Office
18881 Von Karman Avenue, Suite 150Irvine, California 92612
T 949.553.2020 | F 949.553.8449CA BRE #01473762
www.hoffmanland.com
Land BrokersRealty Advisors
The
Hoffman
Company