A LOT OF NEW CONSTRUCTION IS GOING UP NEAR YOU!
We all know that Rancho Mission Viejo is back on a major construction push! 14,000 new homes are expected to go up in a massive, master-planned community over the next two decades, in an area just east of San Juan Capistrano. The first leg of this project is the Village of Sendero, where eight builders will be offering from 1,000-square-foot town homes to 3,000-square-foot detached houses. Also planned are 287 apartment units and a 10-acre retail plaza. Sendero opened to the public at the end of June and developers expect to sell at a pace of 300 homes per year.
How does it affect the value of your home in RSM?
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According to Ma’Ayn Johnson, senior planner at Southern California Association of Governments (SCAG) specializing in housing and land use, Orange County is expecting 432,000 new residents in the next 22 years. Conservatively, that is 4,500 new homes needed every year. Some people will lease, some will buy, but any way you look at it, the county’s population is growing faster than developers are building homes. That’s because we are creating jobs at a faster pace than most of the country. California is actually experiencing population growth, not decline (it doesn’t matter how many people you know who are moving to Texas). In fact, I have buyers interested in RSM!!! The housing market is experiencing high demand and rising prices. This equation will continue for several years to come. In other words...it does NOT affect the value of your home!
If you want to know how much your home is worth, go online and check for yourself. You don’t need to talk to anyone, unless you request to do so.
