Ellwood by Richmond American at Beacon Park

[akkord]

I believe they're having 6th release soon, half sold

They had a release yesterday, not sure how many sold though, but when I stopped by on Friday, saw a couple of parties interested on getting on the priority list, but from what I've heard they have a list of ppl wanting to buy there.  And since they keep releasing phases every couple of weeks, it does seem like they are selling w/o a slowdown in sales. 

My plan was to stay at Ellwood for a good long time, but the new RAH home /w the basement did catch my eye...I really do hope they model that one. 

 

[JLin]

Phase 6 was released yesterday. All but 1 plan 1 sold. Wait list about 60ish deep and about 30 showed up
Pricing:
1-823990
2-862990
3-886990

Add 7k for modern elevation

 

[AW]

I meant half of Ellwood is sold, sounds like there's still some interest on their recent phase release, on pace to be the first to finish at BP!

 

[usctrojancpa]

I meant half of Ellwood is sold, sounds like there's still some interest on their recent phase release, on pace to be the first to finish at BP!

Yup, I had a 3rd buyer sign their contract for one of the newly released lots today. 

 

[oceanmonkey]

I meant half of Ellwood is sold, sounds like there's still some interest on their recent phase release, on pace to be the first to finish at BP!

Yup, I had a 3rd buyer sign their contract for one of the newly released lots today.

do you have a price sheet handy?
#mightyUSCTrojanCPA

 

[usctrojancpa]

I meant half of Ellwood is sold, sounds like there's still some interest on their recent phase release, on pace to be the first to finish at BP!

Yup, I had a 3rd buyer sign their contract for one of the newly released lots today.

do you have a price sheet handy?
#mightyUSCTrojanCPA

Sorry about that, forgot to grab one when I was in there on Sunday. 

 

[irvinehomeshopper]

This needs clarification.

33.33% of the homes, all Nathaniel plans, are NOT zero lot. The house walls are not connected to the neighbor's yard. One could walk all the way around this home.

66.66% of the homes where all 3.6 sides are not zero lot. Less than 0.4 of the side wall is on a reciprocal easement.

This concept is called "Z" lots when only a portion (half or less) of the wall is on a reciprocal easement.

"zero" lot is when the entire wall is on a reciprocal easement.

The entire Ellwood project has no zero lots. Many are "Z" lots.

There you go! You all just became a bit smarter reading this.

Are these zero lot line homes? Does anyone have the recent price sheet?

yes, most of them are zero lot homes.

the base price of all three models can be found on Richmond website.
went through a 30k jump since the grand opening.

 

[soysen]

This needs clarification.

66.66% of the homes where all 3.6 sides are not zero lot. Less than 0.4 of the side wall is on a reciprocal easement.

This concept is called "Z" lots when only a portion (half or less) of the wall is on a reciprocal easement.

"z" lot is when the entire wall is on a reciprocal easement.

The entire Ellwood project has no zero lots. Many are "Z" lots.

I don't know. "z" lots or lots with 3.6 sides covered seems all like bad news down the line. Builders are greedy, and buyers are sheepish or desperate. Bad combination.

 

[oceanmonkey]

stopped by today, was told phase 6 was sold out the release day.

 

[AW]

Dayum.

 

[java123]

What is the MR payoff time frame for these homes. I heard 40 years with 2% increase, means it could range from 7000-14000/annum just for Mellorose. Any insight?

I still hear the noise of waste oil spill pollution from  aircraft's from (WWII) in to the GP/BP ground. Means the war is not over yet. Last victims being our own residents   Any proof of environmental comfortness? isn't it the exposure cause any health hazards?

Does the market touches the price peak and ready to roll down after fed declares interest rate hike?

Is ellwood still a good bet after price increase of $67,000 in such a short time. and expected interest rate hike before closing of these homes?

Any pointers Please?

 

[LongIrvine]

love ellwood, I purchased in BP, but had very tough time justifying purchase price compared to ellwood, didn't vote with feet given desire for lot size and non zero lot line.  IF I could've stuck the Nathaniel on my current lot, it would've been worth thinking about. 

 

[LongIrvine]

RE rates: think you can view several ways, with one being that high priced homes will be impacted the most.  Unsure if 800-900k homes will fall into category given land costs in orange county, lack of future supply (by multiple parties, Bren controls most of it).  So assuming you have a stable job (that won't move to Texas) and you'll live there for 15+ years, what is a sub 4% rate worth (probably one of the lowest risk adjusted ways to short the USD, plus you get utility yield, tax benefits and it amortizes), I'd say a its worth a decent number.   

 

[irvinehomeshopper]

I suggest the Nathaniel plan. It is conventional and no wall or portion of wall attached to neighbor's yard.

This needs clarification.

66.66% of the homes where all 3.6 sides are not zero lot. Less than 0.4 of the side wall is on a reciprocal easement.

This concept is called "Z" lots when only a portion (half or less) of the wall is on a reciprocal easement.

"z" lot is when the entire wall is on a reciprocal easement.

The entire Ellwood project has no zero lots. Many are "Z" lots.

I don't know. "z" lots or lots with 3.6 sides covered seems all like bad news down the line. Builders are greedy, and buyers are sheepish or desperate. Bad combination.

 

[irvinehomeshopper]

Let's strike the iron while it is still hot. This project has out paced all other projects in Irvine in sales despite of all the environmental challenges surrounding the area. Here at TI you are the tightest critics.

What did Richmond American do right and could have done even better. What do you see as a fatal mistake. What did it accomplished that other builders did not.

For those of you who chose to buy another another project in a similar price range what were the compelling factors?

For those who bought and planning to buy what are the elements that you could not find in other projects?

For those who are still looking what would you like to see better?

It is very easy to list wishes but be realistic and don't list things like 3CWG, 3CWD, Shady Canyon yards and setbacks for a $800k price tag.

The feedbacks are for the next project. 

Phase 6 was released yesterday. All but 1 plan 1 sold. Wait list about 60ish deep and about 30 showed up
Pricing:
1-823990
2-862990
3-886990

Add 7k for modern elevation

 

[LongIrvine]

It was generally well done.

Chose different due to lot size but commented to wife that the actual house would've fulfilled most needs/wants.

Unsure how much more construction costs are but 10 ft ceilings would've been a want more than need.

 

[AW]

I know you've mentioned that it was designed height specific for Asian buyers and whatnot and so the tri level is on par with other 2 story plans.  But it was probably the first thing I've noticed and people over 6ft tall have mentioned to me, ceilings were too low, felt like going to the shire and visiting hobbits.  On the other hand, can be construed as "cozy" feel.
Also would've liked a loft upstairs on plan 3, and downstairs master suite be an option and make downstairs floor plan bigger?

 

[AW]

Yeah, great job overall and that deck really is a game changer IMO.

 

[irvinehomeowner]

For those who are still looking what would you like to see better?

It is very easy to list wishes but be realistic and don't list things like 3CWG, 3CWD...

I am disqualified from the getgo.

 

[lnc]

Let's strike the iron while it is still hot. This project has out paced all other projects in Irvine in sales despite of all the environmental challenges surrounding the area. Here at TI you are the tightest critics.

What did Richmond American do right and could have done even better.

Richmond American hired the right architect.