Proceed with the Rancon Group!
With home prices on the rise throughout Southern California, it’s clear that a housing recovery is gathering strength. This according The Standard & Poor’s Case-Shiller home price index, and California-based Beacon Economics, in a Press-Enterprise story published December 26.
Beacon Founding Partner Chris Thornberg noted in the report that the two-county Inland Empire region has experienced eight straight quarters of appreciation.
“We see the appreciation in both land and existing houses on the rise and view it as a sign of the times,” says Jeff Comerchero, CEO and President of the Rancon Group. “That sign is a clear signal that we are moving into a new cycle for the housing market, especially here in Southwest Riverside County.”
Still, both S&P and Beacon say that the hard-hit inland region has a long way to go to recover to pre-recession levels.
“Let’s be clear. We’ve seen a steady improvement in price appreciation and sales during the past year, but nowhere near the roller-coaster ride we took in the past decade,” says Comerchero. “We are okay with that as huge swings up and down are not conducive to a healthy real estate market. With our investments and the opportunities here, we are strong advocates of a sustainable real estate market that will last well into the future.”
The Rancon Group currently has more than a dozen major residential properties in its Southwest Riverside County portfolio. All are in excellent locations and some feature finished lots that are ready to build.
“Our strategy is all about being in a good position for the cycle,” says Rancon Founder Dan Stephenson. “We’ve accomplished this successfully through a half-dozen cycles since 1971. Some cycles, of course, have been better than others, and each time we learn a little more about making it work for us and for our partners in the merchant builder community. This experience puts us in a position to maximize profits for our investors.”
In 2013, the Rancon Group will be ready to sell at least three projects that represent great opportunities for the homebuilder who wants to get started fast. El Dorado is an ideally-located residential project in Menifee that features two final maps with 147 finished lots, and 122 blue-top lots respectively. Wildomar 51 is another great residential project with 51 blue-top Lots and utilities at the property line. French Valley 41 is an infill project with 41 single family lots requiring minimal development.
The Rancon Group has more than a dozen other development opportunities for residential homebuilders looking for viable projects in Southwest Riverside County.
“All the signs are pointing toward a market here where inventory will increasingly be a challenge,” says Comerchero. “Those inventory levels continue to fall every week. It’s time to start building and selling new homes while prices are affordable and interest rates are low.”