CUSTOM LOT PRICES REDUCED

At Serrano, we resist price reductions. However, the overall reduction in real estate values has been so broad-based and significant that we feel we must now adjust to the market. We waited for what we believe is the bottom of the market and have now implemented wholesale price reductions, to adjust to the market. We know this will make some prior customers unhappy, but we believe it is the first step in a rebuilding of the market, and that everyone will benefit from the related activity, rather than just sitting on the sidelines. We are essentially back to year 2000 pricing. It is clear now the overall real estate market in subsequent years simply got overheated.

The result is this is a great opportunity for those who have considered buying a custom lot, either to hold or to build. And, of course, contractors are currently very motivated. This combination now makes it a very opportune time to build one’s dream home.

We have also implemented a very attractive Seller Financing program (No Points, No Fees), and are offering Cash Discounts for all-cash closings. Additionally, there is now no Transfer Fee or Repurchase Agreement, both of which were objectionable to some buyers in the past.

Please note also, you are probably aware that, for sellers aged 55 and over, California law allows transfer of one’s "lower" property tax base from a "sold" principal residence to a “replacement” principal residence within the same county. The recent adoption of Proposition 90 by El Dorado County now enables qualifying sellers from other counties to transfer their property tax base from sale of their home in their county to a home purchased or built in El Dorado County, assuming the price does not exceed a specified percentage of the prior residence sale price. As of February 2010, only 8 of California’s 58 counties allow transfer of one’s lower property tax base from another county.

You may click here for our Price List along with our Seller Financing / Cash Discounts summary, and a flyer on Proposition 90 made easy. Please stop by or call the Serrano Visitors' Center to speak to us regarding any questions you may have about our lots. An individual site plan for each lot is available. We look forward to hearing from you soon!