Woodbury - La Casella

<p>Some good reading...</p>

<p><a href="http://usmarket.seekingalpha.com/article/24481">http://usmarket.seekingalpha.com/article/24481</a></p>
 
"A half million dollars for an average home...


<p>After a few years, it all seems so normal now - a $300,000 home is what poor people live in, to get something nice you have to spend at least twice that amount, and million dollar homes? Not really a big deal anymore."</p>

None of the above is supported by rising incomes or rents. The fact that it is widely accepted by the populace only shows the extent of the mass delusion gripping the marketplace. Nobody thought the Nasdaq would drop in March of 2000, but it sold off 80% over the following 4 years. One only needs to look at what has been happening in San Diego County to see what is coming here.








bigmoneysalsa,





I have several friends and acquaintances to whom I cannot talk about real estate; not because I am overly opinionated, but because they are so attached to their point of view that any information to the contrary elicits a very negative response. These people don't want to debate the direction of housing prices, they want to exist in their own little fantasy about permanent appreciation and keep their belief that house prices can never decline. You won't get rational arguments from people with this mindset, only talking points from the NAR. Nobody wants to entertain the idea that they may have made a poor purchase, so I don't try to engage them. Of course, they can make the same claim against me, and then we just agree to disagree. From what I have read in your posts, you and I see things pretty close to the same.
 
<p>This same tract is in the gated part of Northwood called Northwood II over by Kohl`s. It`s called Serissa instead of La Casella over there.</p>
 
<p>Here is a picture of the outside</p>

<p> </p>

<p><img alt="" src="http://www.lennarhomes.com/images/upload/commphotos/217412272006lacextfin10x7.jpg" /></p>
 
Haha i agree with EvaLSeraphim. The Serissas are the EXACT same thing except it looks like La Casella has tiny exterior differences in areas. La Casella is in Woodbury at the SAME EXACT street light as the Serissas in Northwood so why not buy the La Casellas ? They're cheaper.
 
52 Tea Garden is already on my list. shh! hehehe





I'll check out 37 Wonderland too :) Thanks for the tips! I'll try to get a post out soon.
 
If these homes come down to even $600K for the Plan 1 in the next few months, it is still high for a townhome. Some may disagree saying, this is Woodbury, Irvine, etc.. For living in a good community you pay high MR and HOA. But just because it is in a good community, a townhome cannot be priced like a single family home.
 
Lennar website says they are sold out. When I visited last summer, they were on phase 5 or 6, with plans for up to phase 9. Looks like they stopped building.
 
the irvineranch website doesn't have la casella listed anymore for awhile..even though there's a dot #6 for them on the map still. heh.



that's too bad. i really liked the #3? plan (with the open layout).
 
For them to knock down the sales office, they really must be serious about either dumping the project or placing it on indefinite hold. Maybe they will be back in 2009/2010? It looks like they are selling the models too. They took down the black metal fencing around the front of the homes and opened up access to the garages.
 
Heard from a friend that visited the Villa Rosa at Woodbury that they are tentatively planning to sell these for 500K-700k's. Since the largest of the plans (close to 2500 sqft condo) were recently being listed for the mid 700k's (don't know if they actually sold), maybe that's where they are getting the pricing from.



I personally wouldn't buy an attached condo with high HOA (not to mention MR) for mid 700k's...
 
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