Stumbled upon this listing in San Carlos. The builder will build you a house at the pre-determined price. Price include the land as well. You can also have them build you a house on your site from a list of 30 existing plans. Price is around $500 a foot.
https://www.redfin.com/CA/San-Carlos/2125-Carmelita-Dr-94070/home/2056322
Figures this is institutional money. They had a lot of projects on their books a year ago before they started unloading some of them.
Build on your site lists this at 1.271M.
The site was bought for `1.525M 8 months ago.
The model works well when the cost of capital is low.
They are up and down the peninsula from Mountain View to San Carlos on the 101 corridor excluding Atherton and Palo Alto. I guess they are also in Cupertino and a pocket in San Jose.
