I agree with what Jim Walker said in his post. While prices in EDH have come down some..they may have a tad bit more to go down to "hit bottom"...but not much. I'm thinking we've already achieved the bulk of the expected price declines in EDH (well, other than perhaps Serrano where there are lots of investors who are still willing to take a hit to just get out). And no, I didn't buy there as an investor. I actually lived in that home for quite a few years.
I agree w/you that Toll Brothers, for Promontory, is a different beast. Personally, if I have that kind of bucks, I'm doing/buying custom built rather than production Executive-style home. Also agreed that some of those Christopherson homes have tiny backyards: one reason we chose to not buy there. We wanted to build a pool in our backyard.
Lastly, if you want brand new, reasonable $$ from a developer in Promontory, then basically, Richmond American is it. If you plan on being there for awhile and can get it now for a deal, IMHO, you won't go wrong. I was chatting today with an ex-Serrano neighbor who was telling me about the "sea" of foreclosures and short sales in Serrano, his comment to me: I bet you guys in Promontory and/or Crown Valley are probably still doing pretty will in spite of this bad market. Our answer: yes. Don't get me wrong, there are a few foreclosures and/or short sales in Promontory, but I've driven by them: nothing to write home about. Interestingly, there are only two resales in Montecito (where Richmond American is located). That tells me that people who bought there bought there to stay and probably don't care much what's happening in the market. They bought for good and are staying put..not flipping or investors trying to flip.
You asked about anything "noteworthy" about Promontory: well, by buying in Promontory you "lock" yourself and your kids into the top schools in EDH. You will get Lakeview, which is only 3 years old and is top-notch, you lock yourself into Marina Village Middle School (IMHO better than Pleasant Grove...more on this later)...and you assure yourself Oak Ridge High School (as opposed to Ponderosa or Union Mine).
Clarification on the schools: Lakeview...nothing to clarify ...100% excellent school. Marina Village vs. Pleasant Grove: at this point the most Eastern part of Serrano goes to Marina Village but down the road, that section of Serrano will end up going to Pleasant Grove once Rescue School district builds the elementary school off of Bass Lake Road (go to http://www.greatschools.net
and look at comparisons not only for test scores but something I found more compelling, free lunches vs. not-free lunches), right now the bulk of EDH will got to Oak Ridge. High School (other than Blackstone which is assigned Union Mine in, um, Shingle Springs!!??) but, again, the eastern most part of EDH just barely made Oak Ridge. Well, by being in the most Western part of EDH, you're more than likely to remain within the Marina Village and Oak Ridge boundaries. So you ask: why did we move from Serrano, rent that house and buy in Promontory...please read my above statements.