Ellwood by Richmond American at Beacon Park

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Ellwood and it's epic delays!

Just found that there is yet another slip and COE is postponed. At this point, we ar e looking at over 2 months delay from the date that was committed at the time of PA. I am sure if a buyer stalled COE for two months, he/she would pay dearly for that.

Is there any recourse option available to buyer against RAH for these delays?
 
Cornflakes said:
Ellwood and it's epic delays!

Just found that there is yet another slip and COE is postponed. At this point, we ar e looking at over 2 months delay from the date that was committed at the time of PA. I am sure if a buyer stalled COE for two months, he/she would pay dearly for that.

Is there any recourse option available to buyer against RAH for these delays?
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hmm
 
Cornflakes said:
Ellwood and it's epic delays!

Just found that there is yet another slip and COE is postponed. At this point, we ar e looking at over 2 months delay from the date that was committed at the time of PA. I am sure if a buyer stalled COE for two months, he/she would pay dearly for that.

Is there any recourse option available to buyer against RAH for these delays?
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I heard there are delays on many of the new construction because of permits and meters.  Just too much construction going on in Irivne.  The terms of recourse should be in the details of the purchase agreement.  If they give you a concrete written COE 15 to 30 days out from the actual close and they miss or delay that date, you can get compensated for certain amount per day from the builder.  Every builders have different terms so you should revisit your PA.  COE at the initial sign of the PA means nothing legally.  It's just an estimate.  Btw, When did they give you the delay notice?  Did you ever get written formal official notice of COE date?
 
Goriot said:
Cornflakes said:
Ellwood and it's epic delays!

Just found that there is yet another slip and COE is postponed. At this point, we ar e looking at over 2 months delay from the date that was committed at the time of PA. I am sure if a buyer stalled COE for two months, he/she would pay dearly for that.

Is there any recourse option available to buyer against RAH for these delays?
Click to expand...

I heard there are delays on many of the new construction because of permits and meters.  Just too much construction going on in Irivne.  The terms of recourse should be in the details of the purchase agreement.  If they give you a concrete written COE 15 to 30 days out from the actual close and they miss or delay that date, you can get compensated for certain amount per day from the builder.  Every builders have different terms so you should revisit your PA.  COE at the initial sign of the PA means nothing legally.  It's just an estimate.  Btw, When did they give you the delay notice?  Did you ever get written formal official notice of COE date?
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Nothing written, it is all verbal delays delays and more delays. I don't buy their meters etc BS. People buying in EW started much later but closing almost same time or only slightly later than Ellwood phases. For whatever reason, RAH does not have handle on construction labor. Several business days pass and they make only marginal progress (may be a day worth of work) on the homes. Are they trying to cut the costs? Are they not able to find contractors? Are contractor not particularly interested to take on RAH jobs?
 
If they couldn't even finish the basement home in time for the grand opening, I don't think they're in any hurry to finish your home.

Did they ever fix ocean monkey's black mold issue?  He went radio silent so I'm guessing there's a gag order in play.
 
In my recent talks to a sales agent at a new home construction, she made sure to note that there is no consequence for the builder if they delay COE.  Unlike if the buyer delays, they get walloped with fees and penalties.  I would say it's a little unfair.  I'm sure if the buyer wants they can back out without penalties.  Some buyers might have no place to live due to those delays.
 
That is great point and strengthens my point that they have difficulty retaining labor. After all, basement in a model home is about chasing new money from one percenters, and they can't even finish that on time.
 
WTTCHMN said:
If they couldn't even finish the basement home in time for the grand opening, I don't think they're in any hurry to finish your home.

Did they ever fix ocean monkey's black mold issue?  He went radio silent so I'm guessing there's a gag order in play.
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The alleged mold is an issue. Did he get an attorney?
 
Capboba, what did you end up getting for the house?  Did you sell?

capboba said:
xyz123 said:
May be capboba can answer it better...he/she got decent cash offer.. Not sure if it was Nolan with rooftop or not...That at least give an idea.
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think you missed my reply above but ours is nash + rooftop + driveway.

I'm seeing ranges for the homes in the area (ellwood included) in the $450~$460 sq/ft range.

154 is what.. $420 per sq/ft?
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Cornflakes said:
Ellwood and it's epic delays!

Just found that there is yet another slip and COE is postponed. At this point, we ar e looking at over 2 months delay from the date that was committed at the time of PA. I am sure if a buyer stalled COE for two months, he/she would pay dearly for that.

Is there any recourse option available to buyer against RAH for these delays?
Click to expand...

I view this as a blessing in disguise. With all the problems that was discussed about constructions defects and short fall, it is a GOOD thing for them to slow down and taking a closer look at a product being delivered. I would not be surprised of some builders if not all viewing this boards and take notes. Your voice of concern is heard, so to speak. I hope that all builders view this on a serious notes about flaws and shorts on their products and improve  on their delivery of defects. It is good thing, trust me you rather have them be as thorough with checks and QA before hands you the keys and be delay rather than moved in and get pushed out for fixes.
 
Just saw a redfin feed saying 219 Radial sold for 1.035M.  By its description, this is the model home with 200K in upgrades.  Listed in Feb at 1.29M, dropped to 1.225M dropped to 1.144M, went pending at 1.159M and sold eventually for 1.035M. 

Seems like a huge discount...
 
meccos12 said:
Just saw a redfin feed saying 219 Radial sold for 1.035M.  By its description, this is the model home with 200K in upgrades.  Listed in Feb at 1.29M, dropped to 1.225M dropped to 1.144M, went pending at 1.159M and sold eventually for 1.035M. 

Seems like a huge discount...
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It's reality regarding real estate.
On a different note, I got an email from a REIT that they are waiving their management fees. (Based on amount invested)
 
meccos12 said:
Just saw a redfin feed saying 219 Radial sold for 1.035M.  By its description, this is the model home with 200K in upgrades.  Listed in Feb at 1.29M, dropped to 1.225M dropped to 1.144M, went pending at 1.159M and sold eventually for 1.035M. 

Seems like a huge discount...
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This seems odd that RA would accept an offer $125k less than their asking price after they dropped the price a couple times.

IHS, any idea what happened here?
 
That seem like a really good deal if the number posted is true. After all this is the model. Model easily have a mark up of 10 to 20% of the original base price because of all the upgrades and yard completed.
 
Compressed-Village said:
That seem like a really good deal if the number posted is true. After all this is the model. Model easily have a mark up of 10 to 20% of the original base price because of all the upgrades and yard completed.
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Also when you go to that Redfin listing and scroll down to the sold houses info.  There were two "Legends" (CalAtlantic houses in GreatPark) and they both sold for about $145K less than the asking price.  One of the Legend sold close to $405/sq ft so it is official GreatPark is the cheapest new development.
 
Stan Pac does that with standing inventory. You can get some HUGE discounts off the original starting price with options included. That goes to other neighborhoods besides Beacon Park.

I suppose it's to clear homes with construction loans that haven't sold with new homes on the way that give buyers the chance to pick what they want.

There were some big discounts on the plan I own in TL. I almost wanted to buy another for my kids to live in but they got my house when they come to visit anyway and they aren't likely to move here just cuz they got a house here. They sold with days of their big huge discounts.

 
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