Forbes estimates he is the 183rd richest person in the world, with a net worth of 3.3 billion US Dollars, and he lives right here in Thousand Oaks, California. His name is David H. Murdock, and he is a property developer (among many other things).
I have been watching Mr. Murdock carefully with regards to his new phase of real estate development in Sherwood Country Club, and waiting patiently to see what this highly successful man will do. And perhaps even more importantly…when he will do it. You might say that this Billionaire is my own personal “economic indicator” for this geographical area.
Why? Because David Murdock only builds property that he believes will sell, and he does so, only when he is confident that the marketplace has the ability and the desire to buy.
Well……our Billionaire is building, and with the interest rates still at an historic low, it is definitely time to buy!
There are currently 3 homes under construction with completion dates at the end of June 2010, with 3 more already breaking ground. The pricing is very competitive: all under $2.5 million, and the sq. footage is a bit smaller than a typical Sherwood home : approx. 4,500 sq ft. on average.
Here are some photos I took the other day, along with a rendering of a very rare Single Level new home called “Amalfi”.