Woodbury East Opening July 11, 2009

[usctrojanman29_IHB]

Yep, through and through........................ Please don't hold it against me as I was only able to go to San Francisco State on a football scholarship WAY back in 1963, then off to fly helicopters for the US Army in RVN.

No worries, not like SFS would play USC anyhow. haha I was born in Poland, Southwest part in a town named Kamena Gora (spelling could be off here). I came to the US with my parents when I was 5. Were you born there or here? Do you speak Polish?

Back on topic, I would recommend you rent for at least a year before diving back into the buyer's pool (it's a little crazy out there right now). Let me know if you need any help with looking for a rental. I have a Polish grandmother that cooks up a storm even at the age of 80 so when you move out here I'll try to bring back some food for you from Vegas.

Unfortunatly as a second grnerattion kid my dad did not want us to learn Polish . . . wish he had. Yes I must agree the renting for a while looks like the smart move decision. The July Woodbury East opening thou got my attention. We live now in the USVI and have a 6 year old daughter so schools are important. Data overload on reading all that is now available on the internet and this blog. Do you live in Irvine or Las Vegas? Will be very happy to trade BBQ for real Polish anytime, thanks.

I live in Irvine, used to live in Vegas for a few years though (my dad and grandma live in Vegas and I go there like once a month). I'll me more than happy to make a trade involving perogias for BBQ. :cheese:

 

[bkshopr_IHB]

anyone wanna hang out in my garage?

We all know someone who loves to live in your garage.

 

[hibutachan_IHB]

Pricing for Ivy at Woodbury East had come out which is lower than predicted, starting at mid 300s rather than high 300s. The largest plan is around LOW 400s. WOW

 

[usctrojanman29_IHB]

Pricing for Ivy at Woodbury East had come out which is lower than predicted, starting at mid 300s rather than high 300s. The largest plan is around LOW 400s. WOW

New home prices less than $300/sf in Irvine...say it ain't so!

 

[IrvineRenter_IHB]

Pricing for Ivy at Woodbury East had come out which is lower than predicted, starting at mid 300s rather than high 300s. The largest plan is around LOW 400s. WOW

Do you have a price sheet or other data you can post or email to me. The rumor is that TIC was going to hold prices at $375/SF.

 

[usctrojanman29_IHB]

Pricing for Ivy at Woodbury East had come out which is lower than predicted, starting at mid 300s rather than high 300s. The largest plan is around LOW 400s. WOW

Do you have a price sheet or other data you can post or email to me. The rumor is that TIC was going to hold prices at $375/SF.

Maybe that was a typo and BK meant $275/sf.

 

[SoCal78_IHB]

Who here is going to the Woodbury East grand opening this Saturday?

I plan on swinging by to gather some info and a price sheet or two to come back and post.

 

[roundcorners_IHB]

Pricing for Ivy at Woodbury East had come out which is lower than predicted, starting at mid 300s rather than high 300s. The largest plan is around LOW 400s. WOW

Do you have a price sheet or other data you can post or email to me. The rumor is that TIC was going to hold prices at $375/SF.

Maybe that was a typo and BK meant $275/sf.

were is BK, haven't seen his post... maybe he's on vacation... I should be by in the morning to the grand opening... the gates have been open, the models are the furtherest from the toll road, but you can still hear it, especially if you just lounging by the pool.. enjoy...

 

[IACRenter_IHB]

Who here is going to the Woodbury East grand opening this Saturday?

I plan on swinging by to gather some info and a price sheet or two to come back and post.

Even if you have no real interest in Woodbury East, you can pick up some free stuff (per email from TIC):

1) *Free $10 Gift certificate for The Counter at Ivy while supplies last

(*need to mention you got an email offer)

2) Free ice cream sundaes at Ivy 11am-3pm

3) More free food at the Rose Petal Garden

Enjoy.

 

[25inIrvine_IHB]

Pricing for Ivy at Woodbury East had come out which is lower than predicted, starting at mid 300s rather than high 300s. The largest plan is around LOW 400s. WOW

Do you have a price sheet or other data you can post or email to me. The rumor is that TIC was going to hold prices at $375/SF.

I believe he is just basing it off the Irvine company website.

Looks like they finally put approximate prices on it:

http://www.villagesofirvine.com/Villages-And-Residences/Woodbury-East-Overview.aspx?type=neighborhood&Id=41

Maybe they are trying to unload these quicker than usual due to the incoming wave of foreclosures so they lowered their initial prices. Its hard to believe BK was misinformed, maybe he will be able to confirm if they threw in a last minute audible.

 

[irvinebullhousing_IHB]

Pricing for Ivy at Woodbury East had come out which is lower than predicted, starting at mid 300s rather than high 300s. The largest plan is around LOW 400s. WOW

Do you have a price sheet or other data you can post or email to me. The rumor is that TIC was going to hold prices at $375/SF.

I believe he is just basing it off the Irvine company website.

Looks like they finally put approximate prices on it:

http://www.villagesofirvine.com/Villages-And-Residences/Woodbury-East-Overview.aspx?type=neighborhood&Id=41

Maybe they are trying to unload these quicker than usual due to the incoming wave of foreclosures so they lowered their initial prices. Its hard to believe BK was misinformed, maybe he will be able to confirm if they threw in a last minute audible.

But the HOA and Mello Roos will be a killer..........

 

[25w100k+_IHB]

Yeah these are going to sell quickly. They're pretty much priced on the lower end of whats reselling in woodbury right now, and the floorplans look better too.

The question is will people fall for the trap of paying a lower price for the house but at the same time paying a LOT more HOA and mello roos? Seems like a bad deal to me, as you can't write off your HAO or mello roos (easily that is?).

 

[ArbyOC_IHB]

HOAs are $325, per the office staff.

The end units have Master BRs with common walls. Lyons made the smaller bedrooms with unshared walls. What's the thinking behind this? It's a totally flawed design IMHO. I really don't get it.

 

[diulei_IHB]

Most townhome style units have masters with shared walls - there is no way around that in this price range. I'm planning on stopping by this Saturday to get a confirmation on fees and see if parking will be terrible like a suspect. Having a place none of your friends want to visit is not very ideal.

 

[ArbyOC_IHB]

Most townhome style units have masters with shared walls - there is no way around in in this price range.

I'm in a 2/2.5 TH end unit and my master BR shares the just bathroom wall, which is nice because there's hardly any noise.

My realtor called the office and was told the taxes are 2.2%. Does that sound right? I'm did some sleuthing and Woodbury looks to have a tax rate of 1.04%. I'm getting this info from tax bills and the OC tax rate book.

She was also told that the "lowest unnegotiable price" is $350K for the Plan A---1180sq ft.

 

[irvinebullhousing_IHB]

Wow between property tax and HOA alone is $11,600/yr roughly. And it would only go up from there.

Seem extremely high for my taste.

 

[25inIrvine_IHB]

Arby OC,

They come to this conclusion after adding in the special taxes and assessments such as Melo Roos.

For example here is the taxes for a 1275 sq. ft condo in Woodbury:

Parcel No.: 932-655-40

Tax

Type Description/Service Agency Phone No. Tax Rate

(26-229) Value Base Amount

(Rate x Value)

A1 BASIC LEVY RATE 1.00000 $529,000.00 $5,290.00

A1 METRO WATER D-MWDOC 0.00430 $529,000.00 $22.74

A4 IRWD #250 SEWER BOND 0.03200 $326,986.00 $104.63

A4 IRWD #105 WATER BOND 0.00780 $326,986.00 $25.51

*** SPECIAL ASSESSMENT USER FEES***

BA MOSQ,FIRE ANT ASSMT (800)273-5167 $3.06

B3 VECTOR CONTROL CHG (800)273-5167 $0.66

E0 IRVINE USD-ASMT (949)250-8300 $53.14

N1 LNDSCP & LTG #1 (866)807-6864 $45.40

R2 MELLO-ROOS R2 (800)858-8233 $560.20

R7 MELLO-ROOS R7 (800)858-8233 $1,987.36

VA 1915 AD BOND VA (866)807-6864 $1,840.88

Total Tax: $9,933.58

The tax rates is only about 1.04%

but add in those $4.490 of extra fees, the total property tax for this place is 1.88%. Someone correct me if I'm doing this wrong.

It makes sense that its going to be a bigger number on the new places, since The bonds are a set dollar amount and not a percentage. So if someone bought this place at 300k instead of having the basis of 529k. They are still going to be paying those 4,490 in special assessments. The 1,04% will change at the top, but not the bottom. So the special asssesments will be more than just a .84% on a smaller purchase.

 

[ArbyOC_IHB]

Thanks 25.

Here are the numbers from the tax book in case anyone wonders what what they are:

BASIC LEVY-CO., CITY,SCHOOL, & DIST A1 1.00000

IRVINE RANCH WATER ID #250 BOND I/R FUND A4 .03200

IRVINE RANCH WATER ID #105 BOND A4 .00780

TOTAL RATES ON ALL PROPERTY A1 1.00430

TOTAL RATE ON LAND ONLY A4 .03980

TOTAL TAX RATE 1.04410

I'm a 1st time buyer (does it show?) and these are in my price range (well, if the floorplan is under $400K). I like the thought of buying something brand new, and hopefully the new construction credit is still available (nope---just checked).

If I bought one at $375 (just a guesstimate), with $325 HOA and the tax rate, would you consider this to be a good buy? I'm flying solo on this one and would like to get my total monthly payments under $2200.

I know the experts are out there, so I'd love to hear your thoughts good or bad.

 

[25inIrvine_IHB]

Well I don't know your down payment or loan information. If you would like to provide it some people would be able to give more details.

But from just a quick number check in order to get your payments under 2200 a month, you would have to get your mortgage balance to 225k (and come in with at least 125k)

as someone stated earlier, you will putting roughly 1,000 bucks in a month just to cover HOA and property taxes, so your mortgage payments would then have to be around 1200

5.5%

360 months

225k PV

PMT = 1277.52

remember that total tax rate in your post DOES NOT include those special assessments I listed above. Where ever you are pulling those numbers also look for the numbers for the mello roos bonds and other special assessments.

 

[ArbyOC_IHB]

Ah yes...the financials.

I have between 10%-15% to put down. I was pre-approved for a $375K sales price.

My current lender would have a heart attack if I even applied for a loan for this place. I might as well hit the grand opening and apply with Lyon's mortgage company and see what they say.