Timing! Many of these homes are spec homes and the lots were first available when real estate presented a much rosier picture. Because of the lead time involved in obtaining permits and construction these homes came on the market at the beginning of the downturn. Builders have an increased urgency in selling and this has driven the steady decrease in prices, but, there is a limit and I think prices have reached near bottom. Most of the homes for sale in Santa Ysabel Ranch are priced well below what it would cost to build.

David Mark REALTOR®