Since the beginning of 2013 there has been an explosion of new home construction projects in south Orange County. No doubt what has spurred all of this new construction is the improving real estate market throughout southern California. Builders have seen prices continuing to rebound through 2012 and continuing this year. Buyer demand is very high and the resale market is slow with owners holding on to they're homes waiting for even more equity before they sell. A number of construction projects were stopped when the housing bubble burst in Orange County. Construction companies went bankrupt when banks didn't make good on they're construction loans and building in Orange County came to a screeching halt in 2008.
Now that the market is improved and demand is high these new developments are in the works in south Orange County:
Ladera Ranch: The Legacy Collection in Covenant Hills: This is a new wave of construction that will be built by Warmington Homes starting in 2013. Currently there are two different floor plans being offered both of which are single level and ranging in size from 3 - 6 bedrooms, 3.5 - 6.5 baths, with 3,041 - 4,159 sqft of living space. Pricing for the Legacy Collection will start in the low $1,000,000 - 1,150,000 price range. These homes will be a great addition to Ladera Ranch which is lacking in Single Level homes.
San Juan Capistrano: Rancho Mission Viejo: This is a brand new master planned community similar to Ladera Ranch and Talega is size and style. This community will be located in the eastern area of San Juan Capistrano at the cross streets of Ortega Highway and Antonio Parkway. The community is under construction right now and the first home models will be completed around June 2013. The community is estimated to add another 14,000 homes of different sizes and styles.
Valinda Rancho San Juan: This community is almost completely built out. Right now there are only a handful of home sites still available, maybe 5-7 sites left. The community is located near the new San Juan Hills High School and San Juan Capistrano Landfill. Valinda offers good size homes from 4-5 bedrooms with 3000 - 4500 square feet of living space. Prices in Valinda start in the mid $700,000 range.
Pacifica San Juan: The gated community of Pacifica San Juan was being built in early 2000's and had to stop building when the builders went bankrupt because the banks couldn't honor the construction loans. As a result the community stopped being built in 2008. So right now there are about 40 homes that were completed and the rest of the community will start to be built again starting in 2014. This community will be a welcome addition to San Juan Capistrano because many of the homes will feature great ocean, Catalina Island, Dana Point Harbor, and valley views.
Campanilla San Juan: This gated community is half built with the rest currently under construction. There will be a total of 132 homes built in Campanilla which has two subdivisions called 'Artisan Collection' and 'Villa Collection'. Each of these two collections of homes has 4 different floor plans to choose from that range is size from 1,767 - 3,294 square feet of living space. Prices in the community are currently ranging from $650,000 - 850,000 depending on size, model, and upgrades.
Dana Point: The Strand At Headlands: The Strand At Headlands is a luxury ocean front gated community on the Headlands of Dana Point, CA. There is currently land lots for sale in the community that people can buy and build they're own custom home. Lots start around the $3 Million mark in the community. Homes build on the front row which is only about 100 feet to the ocean have been known to sell between $16 - 20 Million. This is the most expensive guard gated community in Dana Point.
San Clemente: Marblehead On The Coast: The community of Marblehead On The Coast was being built when the housing market crashed. As a result the land for the community has been graded and no buildings were constructed. Some of the infrastructure for the community was completed but the land is mostly empty and looks like a big dirt field right now. The construction companies that were building the community went bankrupt when the banks couldn't honor they're construction loans. Recently the San Clemente city was able to come to an agreement with Lehman Bros to finish construction of the infrastructure. So it looks like homes in Marblehead on the Coast will start to be built in late 2013 and most will be constructed in 2014. There will be about 313 homes built in the community and there will also be a new park that overlooks the ocean. Many of the homes in the community will have ocean views and will be just a short walk to North Beach, San Clemente.