Villages of Columbus - Columbus Square - Meriwether

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<strong>Development:</strong> <a target="_blank" href="http://www.villagesofcolumbus.com/">Villages of Columbus</a>


<strong>Village:</strong> <a target="_blank" href="http://www.villagesofcolumbus.com/pages/villages/index.php?village=columbus square">Columbus Square</a>


<strong>Tract:</strong> <a target="_blank" href="http://www.lennar.com/findhome/community.aspx?COMID=685&DIVID=OCHLEN">Meriwether</a> (114 attached townhomes) in the City of Tustin


<strong>Builder:</strong> <a target="_blank" href="http://www.lennar.com/">Lennar</a>


<strong>Schools:</strong> Tustin School District (<a target="_blank" href="http://www.tustin.k12.ca.us/">TUSD</a>): Marjorie Veeh Elementary, A.G. Currie Middle, Tustin High


<strong>Tax Rate:</strong> The anticipated total effective tax rate is approximately 1.8%, which is inclusive of all Community Facilities District (CFD) rates.


<strong>HOA Dues:</strong> Estimated monthly HOA Dues are approximately $320 (includes both Master and Sub HOA's).


<strong>Deposit Required:</strong> $10,000


<strong>


Plans:</strong>


Residence 1 - 2bd/2ba - 1272 sq. ft.


Residence 2 - 3bd/2.5ba - 1706 sq. ft.


Residence 3 - 3bd/3ba - 1922 sq. ft.





<strong><u>PRICING</u>





</strong><strong>Phases 1 and 2? (August 2006)


</strong> Residence 1 - From $555,000


Residence 2 - From $660,000


Residence 3 - From $687,000


<strong>


Phase 4 (pricing effective 1/1/2007)


</strong> Residence 1 - From $515,000 (Temporarily Sold Out)


Residence 2 - From $660,000


Residence 3 - From $687,000





<strong>Phase ? (pricing effective 6/21/2007)</strong>


<strong>Residence Price Change</strong>


Residence 1 - $519,000 (+$4,000)


Residence 2 - $649,000 (-$11,000)


Residence 3 - $669,000 (-$18,000)





<strong>Prices as of 9/9/2007</strong>


Residence 1 - $495,000


Residence 2 - $624,000


Residence 3 - $644,000





<strong>Prices as of 10/1/2007</strong>


Residence 1 - $494,000


Residence 2 - $599,000


Residence 3 - $624,000





<strong>Pricing as of 1/10/08</strong>


Residence 1 - $494,000 - Temporarily Sold Out


Residence 2 - $599,000


Residence 3 - $624,000





$25K Flooring incentive


Closing specials but varies on your credit, downpayment, etc.


~$1,100 total taxes, fees, HOAs





<strong>Pricing as of 2/5/08</strong>


Residence 1 - $494,000 - Temporarily Sold Out


Residence 2 - $569,000


Residence 3 - $599,000





<p><strong>Prices as of 2/23/2008</strong>


Residence 1 - $494,000


Residence 2 - $599,000


Residence 3 - $624,000</p>




<p><strong>Prices reported 4/16/2008 (Phase 8)</strong>


Residence 1 - $499,000


Residence 2 - $585,000


Residence 3 - $599,000</p>
 
<p>Phase 1 (& possibly 2) pricing started with the Residence 1 much higher. They sold through and then stalled. The price cut (to $515k) was refunded to buyers that purchased at these prices:</p>

<p>As of Aug 2007</p>

<p>R1- $555,000</p>

<p>R2- $660,000</p>

<p>R3- $687,000</p>

<p>Deposit is $10k</p>

<p>SCHB</p>

<p> </p>
 
<p>Here Are Pictures Of This Neighboorhood</p>

<p> <img style="WIDTH: 458px; HEIGHT: 337px" height="284" width="413" alt="" src="http://www.obeo.com/tourimages/32/324802/324802_500.jpg" /></p>

<p> </p>

<p><img alt="" src="http://www.obeo.com/tourimages/32/324804/324804_500.jpg" /></p>

<p> </p>

<p> </p>

<p> </p>
 
<p>On the mailing list, and they sent out a notice this week for a something I hadn't heard of before- A phone based phase release (sites 52-63).</p>

<p>I don't have a scanner at home, but they are basically calling people on the priority list from 10am to 5pm. You need to give them your top three homesite choices on the spot, and complete the purchase agreement and deposit within 5 days.</p>

<p>Anyone heard of this method being used before? I thought phase releases were all in-person.</p>

<p>SCHB</p>
 
<p>Strangely, they (Meriwether) raised their base prices slightly, too. ($2-7k on the plan 2, not sure about the others).</p>

<p>Not sure how well that's going to work.</p>

<p>SCHB</p>
 
Lennar (or more specifically Villa Rosa) will shut down its office and will reopen again sometime in the summer, possibly June. This is to slow down production of homes to maintain its profit margin. It can only speculate that this is due to low responses.
 
IIIrvine:

whne did you found that villa rose is shutting down their office? I know they are not releasing any homes until June / July frame, and all the existing inventory homes have all closed.
 
I was in their office ~3-4 weeks ago, spoke to Neil, the salesperson there. There was the last spec home, which I believe was Model 1. Once that is sold (I don't have a status on it), the office was to be shut down until summer, and assumably, to be ready for the home shopping season with home deliveries towards the end of the year. If the market changes, I am certain that plan will change accordingly. I know that the HBs have been gauging foot traffic, which IMO, does not translate to sales. However, they are hoping that by artificially suppressing supply, they can force demand, and hence, prices.
 
Thanks for the information IIIrvine in regards to Villa Rose. I was told by the sales office weeks ago that the last phase they released were discounted at least 100K for each homes even for the good lots. Those last spec homes (it is a model 1) is next to a busy internal street, I bet it is discounted by more than 100K, and it might be sold for less than $1mm.
 
my aunt owns a residence one. it's awesome but i don't like living above garages..... the doors (and car horns) make noise!
 
yeah i can see it both ways





i used to live in a upper condo above neighbors. thanks to good fortune, the neighbors below me was a nice old lady who lived by herself.





also i think the newer construction is better since they prob seal off garage noise
 
i like units where you're entirely above your own garage. i think new home builders have realized that.





also i do like upper living spaces, a bit more private. (ie your model)
 
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