Bedford at South Corona

[ZZGAMAZZ]

SoCal Peers:
Any of you recently conducted a new construction appraisal in this master planned community in incorporated Corona? Neither of the Title companies I interviewed including First American that the builder's sales office mentioned has any knowledge about any of the comps I selected, identified by address, lot number, and tract number.

As an aside, it appears that The New Home Company builder is a publicly-traded company that creates Master Planned Communities that involve multiple builders including their own.

 

[sputnam]

So.... you are using comparable sales that you can't verify?

 

[ZZGAMAZZ]

So.... you are using comparable sales that you can't verify?

No that isnt a good suggestion. Verification is mandatory. In fact, after the assignment was completed I made about 25 copies of a small snippet I created with the name, phone #, and email address of the Title Co, for the Builder to add to the "appraisal packet" provided by the sales office.

 

[Tom D]

usually the builder's site office has the settlement sheets. i found most more than helpful.

 

[John Hassler]

You can always go old school.

Twist the arm of builder's sales office manager. Show up with donuts but let them know the deal will not close without you viewing a copy of the deed transfer ( ie no commission w/o their help).

Knock on the door and interview the buyer.

Visit the Recorders Office and search by Seller name. Warning, this can be a real pain in new developments with all the contractor/supplier leins but it is doable.

 

[sputnam]

No that isnt a good suggestion. Verification is mandatory. In fact, after the assignment was completed I made about 25 copies of a small snippet I created with the name, phone #, and email address of the Title Co, for the Builder to add to the "appraisal packet" provided by the sales office.

See the question mark? I was asking you... not making a suggestion.

 

[George Hatch]

I make that project out to consist of 2 phases, a fully built out section on the west side and a vacant/under development section on the east side (Olvida St and east). As of the 04/2023 overheads that subdivision had a couple sets of finished model homes and a few units in framing. I suppose some of the units have been fully built out since then, we just don't have a more current overhead.

If you go into the County's "what's my zoning?" app you can zoom in anywhere in the county and find what the county is currently showing in the way of their recorded subdivision and condo maps. Zoom in and you can see the APNs.

There will be some parcels where the new condo map doesn't show - on those the sales history will show all the recent transactions, but not the unit numbers. For example, the county's map shows the project parcel 279-540-006 but not the finished condo map. The sales history for that parcel shows 9 closed sales between 09/2023 - 10/27/2023. Prices, doc#, buyer and seller names. If you know the buyer names for your comps you can find the transactions.

 

[George Hatch]

As an aside, this is why it's useful to become familiar with using other databases besides just the MLS.