Thirty-one homes in the new Telescope Point development in Carlsbad have been sold out of a release of 34 homes to date, reports Wesley E. Mudge, a partner of Westana Builders/Developers. The sales total for the project has reached the $4.5-million mark. The development is located at the intersection of Tamarack and High Ridge avenues, east of Interstate 5. The community will have 93 one- and two-story single-family homes upon completion. Sales office and model homes are open daily from 10 a.m. to 5 p.m. Prices begin at $129,950.
The condominium development of Park Place reports that 10 units were sold in one week, after the preview opening of the development. Condos in the 32-unit project offer two bedrooms and two baths. They are priced from $89,500 to $99,500 and the monthly homeowners association fee is $86. A Los Angeles bond financing program provides an interest rate of 10.39% (11.05% annual rate) fixed for 30 years with a 5% down payment. Developed by J.X. Construction Inc., Park Place offers units with 1,089 to 1,195 square feet.
In the two weeks following the opening, Palm Terrace announced it has sold 34 of the 68 homes in the development. Palm Terrace, in San Diego's South Bay area, is offering a selection of four floor plans, including a single-level two-bedroom plan and three three-bedroom plans in two-story designs. All homes have two-car garages. Square footage ranges from 970 to 1,560 square feet. Homes are priced from $69,950 to $81,950. A San Diego bond financing program enables the development to offer a mortgage interest rate of 10% (10.58% annual rate) to qualified buyers or VA and FHA financing at 12 3/4% (13 3/4% annual rate). Palm Terrace sales office and models are at 814 Picador near Beyer Boulevard.