OC Dynamics Push Home Buyers to San Bernardino County

Galloway: “In order to meet growth goals, builders must continue to be nimbler in their acquisition efforts, and developers need to continue the creation of new communities.”

NEWPORT BEACH, CA—With home prices reaching new heights in coastal Orange and L.A. counties, the Inland Empire is offering an attractive alternative for home buyers seeking more affordability, Land Advisors VP Winn Galloway tells GlobeSt.com. Galloway recently represented Trumark Communities in the acquisition of Rancho Miramonte, a 143-acre site for 823 single-family detached homes in Chino, CA, which was purchased through a foreclosure sale for an undisclosed amount.

The seller had defaulted on the first, second and third lien notes on the property, totaling approximately $30 million. Since the owner was unsuccessful in selling the land, Trumark, who was the holder of the second and third liens, held a foreclosure sale on the property to pay back the notes.