Cons: Palo Alto, high density development, multi-story construction. proximity to the train line.
Overpriced or not depends on your point of view... The median price in Palo Alto this year is $1,728,000, I mean year-to-date, see more details at http://paloaltocal.com/palo-alto-market-action-report-septem . Brand new home at this price are rare. The floor plans are pretty good and depending on the location in the complex these homes may be pretty desirable. Note that there is only 3 homes listed in Palo Alto today under $1.4M. Welcome to the neighborhood!
I don't think D.R.Horton is helping themselves by using what look like cell phone pictures to promote their homes. Even the few pictures I still have on my website from 12 years ago look better than their pictures (web hosting used to be expensive and pictures were removed ... it isn't now).
From 2000 I still have a few pictures for a client who used me to help him with five home sales: http://julianalee.com/homes/2000/oregon1.htm
Compare that to a typical current home for memories of ancient times:
Juliana Lee, MBA LLB
Top 3 agent nationwide at Keller Williams Realty
Over 20 years experience
Over 1,000 home sales completed in Santa Clara and San Mateo counties
Ability to choose your amenities
Palo Alto Unified schools
Great commute location
Close to the train tracks
Small enclave neighborhood contrasts with existing neighborhoods
If they lag on the market unsold, they could be considered overpriced but if they are selling, then no, they are not overpriced...
Plus, most builders do not overprice their product, in my experience.