Tentative Map:
Property qualifies for streamlined entitlement under SB 330.
Tentative map processing time is expected to be less than a year.
Flood Control:
Property and surrounding areas require a flood-control structure, Line A.
Seller and surrounding owners have an easement and cost-sharing agreement for construction.
Subject property's sole contribution: granting an easement.
In exchange for the easement:
Exempted from design or construction costs of the channel.
Excavated dirt will be stockpiled on the property.
Unique advantage: lowers overall completion costs.
Market:
Winchester is a thriving, predominantly new home market.
Major builders include Lennar, D.R. Horton, Meritage, and KB Home.
Builders sell new homes at a rate of 1.5+ homes per week.
Early 2020 home prices:
Mid-$300,000s to mid-$400,000s.
Recent home prices:
Starting in low $500,000s for homes under 1,400 square feet.
Exceeding $900,000 for homes over 4,000 square feet in Lennar's East Menifee community.
Median home price:
Increased from $590,000 (December 2023) to $627,000 (December 2024).