Woodbury - Villa Rosa

irvine123_IHB

irvine123_IHB

New member
Phases 1-3* (reported pricing through June 6, 2006)



Model 1: from 1.116M

Model 2: from 1.216M

Model 3: from 1.288M



Phase 4



Model 1: from 998K

Model 2: from 1.082M

Model 3: from 1.11M



Phase 5** (released January 2008)



Model 1: from 993K

Model 2: from 1.082M

Model 3: from 1.115M



Phase 6*** (released April 2008)



Model 1: from 993K

Model 2: from 1.078M

Model 3: from 1.115M



* It is rumored that Lennar accepted negotiated pricing towards the close of phase 3 - before it actually reduced its formal asking prices.



** Starting with Phase 5, Lennar reduced the ?size? of the phases from approximately 10 homes to 5.



*** Despite a national marketing campaign commencing in the Spring of 2008 and incentives to sell many of its homes, Lennar has resisted any meaningful incentives with regards to Villa Rosa.



5/30/2008



Plan 1 - 215 - 991,000

Plan 2 - 214 - 1,083,000

Plan 3 - 213 - 1,131,000

Plan 3 - 216 - 1,120,000



Said they were giving 20k towards design center or buydown.











Post by irvine123 (3/27/07):

<p>For those of you might be interested or curious, I just found out that Villa Rosa by Lennar has changed their mind, and decided to release their next phase early april instead of summer time. They stopped building and releasing homes late last year in response to the market slow down. The smallest model was priced at $1.18 million, but I know they sold most of them with more than $100k of discount. I will be very curious about their new pricing. By the other, the standard pacific track across from Villa Rosa releasted their last three regular phases , and there were sold out expect for one home. </p>

<p> </p>

<p> </p>
 
Does anyone have any of the old price sheets/info? I'm curious to see how much they've come down compared to today... I hope to wheel and deal this spring...
 
Latest Villa Rosa pricing sheet - no new reductions =(



Residence # 1 - 991,000

Residence #2 - 1,083,000

Residence #3 - 1,120,000



Still pretty harsh Mello-Roos @ 6K per year. Ouch. It appears that only 1 fo 5 in the most recent phase has sold.
 
I purchased my Villa Rosa plan 3 in November of 2006 for 1.14m. Lennar was asking 1.28m for the plan 3 when I submitted my offer. It is nice to know that the asking price has not moved much since that time. Anyone know if they are firm on those prices?
 
[quote author="SteveNocCA" date=1210628499]I purchased my Villa Rosa plan 3 in November of 2006 for 1.14m. Lennar was asking 1.28m for the plan 3 when I submitted my offer. It is nice to know that the asking price has not moved much since that time. Anyone know if they are firm on those prices?</blockquote>


doubtful... if it is only a price sheet pricing, i am sure lennar is willing to bargain. Just like cars sales.... nobody pays sticker price unless they are dumb. especially in this market.
 
the times that I've stopped by, my inquiries about negotiating have been flattly rejected. I too am hoping for a little more of a price reduction. The best I have seen is a rare loan incentive (offering a really good fixed rate). However, times are slowing, as is seen by the reduction in the size of the releases (10 models to 5)... but with all of these fiscal stimulus checks showing up... prices are bound to rise as the economy improves...
 
[quote author="GrewUpInIrvine" date=1210649804]the times that I've stopped by, my inquiries about negotiating have been flattly rejected. I too am hoping for a little more of a price reduction. The best I have seen is a rare loan incentive (offering a really good fixed rate). However, times are slowing, as is seen by the reduction in the size of the releases (10 models to 5)... but with all of these fiscal stimulus checks showing up... prices are bound to rise as the economy improves...</blockquote>




the builder are sticking to their guns. they are holding the line, hoping to find a buyer who will bite. just wait.... the big price reduction won't come until toward the end of the year. i would say around mid november. that is when they are dealing. year end number crunch will force them to slash price to move units to improve sales number. Just like car sales, they got quotas that they have to meet. If you can wait... i think best time to pick up a new house would be nov/dec 2009. IMHO.
 
The five current releases on Windingway right behind the models are among the worst locations in the entire villa rose track. There are a lot of traffic in front of those lots. In new home sales at irvine, location seldom plays a big part in deciding the final price. However, when it comes to resale, it makes a big difference. I won't pay more than $1 mm even for the largest plans at that location. I probably won't even pay 900K for those lots.
 
Does anyone know if the floorplans in Villa Rosa might make their way to Orchard Hills? While I really like the floorplan, I'm much less crazy about the current pricing... and I'm thinking that I might be able to get a similiar floorplan in OH in a couple of years? At a better price?



Wow - I just realized that I've been upgraded from my IAC rental to a condo! Woo Hoo.
 
[quote author="GrewUpInIrvine" date=1211069699]Does anyone know if the floorplans in Villa Rosa might make their way to Orchard Hills? While I really like the floorplan, I'm much less crazy about the current pricing... and I'm thinking that I might be able to get a similiar floorplan in OH in a couple of years? At a better price?



Wow - I just realized that I've been upgraded from my IAC rental to a condo! Woo Hoo.</blockquote>


If prices are high for these homes built on flat land. I don't think the price for similar floor plans will be any "better" in the hillsides of OH. Had the homes in OH been built out. Sure, in 2 years, there might be a possibility of prices falling. But as we know it, The Irvine Co. stopped construction in OH until 2011 or even later. And who knows but Mr. Bren and his research team as to when it would be profitable to continue building new homes again.



As have been discussed in other threads, there are about 5 to 6 communities literally put on hold due to market conditions. If that's not a control of the new housing market in Irvine. Then I don't know what is. Which is a good thing depending on which side of the fence you're on. ;-)
 
Can someone explain to me how JLH is able to reduce the price in each subsequent phase in Woodbury, while Villa Rosa has been more or less static for the last 12-18 months? IF JLH can get concessions from IAC, what is going on with Lennar?
 
<blockquote>Can someone explain to me how JLH is able to reduce the price in each subsequent phase in Woodbury, while Villa Rosa has been more or less static for the last 12-18 months? IF JLH can get concessions from IAC, what is going on with Lennar?</blockquote>


Well apparently people are buying at their current prices. They have pretty much sold out all phases to this point. They apparently are in no rush to sell and their strategy is obviously release very small phases and wait it out. If you need a home this year, best wait until November and see if they have urgency to close out homes for 2008--you might get some incentives at that point, doubtful though. The better strategy would be to wait 1-2 years and watch as the REO or short sales hit the development and buy at much better price point.
 
The specialists pricing the new homes are sharp. They have their reasons for pricing the 2 products differently.



My guess is JLH Stonemanor duplex is an alley load with very specific footprints size, street and alley configuration. Prototyping new products on to the remaining lots and infrastructure will be extremely difficult. The solution may be offering price incentive to finish the project. Villa Rosa sits on conventional sfd lots and finding alternative products is very simple. The need to liquidate Villa Rosa may not be as urgent.



A junior designer left Hidey architects and went over to Bassenian. He ripped off all the Hidey details from Shady Canyon Villas and applied the same exact brick detailing at Villa Rosa.



[quote author="IACRenter" date=1211951833]<blockquote>Can someone explain to me how JLH is able to reduce the price in each subsequent phase in Woodbury, while Villa Rosa has been more or less static for the last 12-18 months? IF JLH can get concessions from IAC, what is going on with Lennar?</blockquote>


Well apparently people are buying at their current prices. They have pretty much sold out all phases to this point. They apparently are in no rush to sell and their strategy is obviously release very small phases and wait it out. If you need a home this year, best wait until November and see if they have urgency to close out homes for 2008--you might get some incentives at that point, doubtful though. The better strategy would be to wait 1-2 years and watch as the REO or short sales hit the development and buy at much better price point.</blockquote>
 
I've updated the first post (the one by irvine123) of this thread with pricing info provided by GrewUpInIrvine. Thanks for the great info!
 
I was bored @ lunch today so I stopped by Villa Rosa for fun.



Plan 1 - 215 - 991,000

Plan 2 - 214 - 1,083,000

Plan 3 - 213 - 1,131,000

Plan 3 - 216 - 1,120,000



Said they were giving 20k towards design center or buydown.
 
So, what happens if I go in this next week and make an offer and take the 20K incentive... but before the home closes, they either (1) reduce pricing or (2) increase the incentives? Would someone have any leverage? Has anyone had experience in this? It seems that if they reduced the sale price, it would affect the appraisal - and thus any mortgage loan approval... but I'm not sure what to make of changes in incentives.
 
To Irvine123,



I just want to say thanks for your insight about the house I almost purchased on Winding way. My wife had her heart set on 2br and we were very close to pulling the trigger.



After reading your post about WW being the worst lot, it took our focus off the house (Which is gorgeous btw) and studied the traffic on Regal and Winding way... It's an accident waiting to happen.



Thank you.



To the other contributors and admins of IHB, IHB.com is next best thing to sliced bread.



Now...



Is it possible to put a deposit on a certain lot in Phase 9? Or do I have to play the waiting game along with Lennar's rules?

Also, I stumbled upon IHB.com by trying to find reviews of Lennar homes, does this corp build a solid product? I currently live in NP in a Shea home... Replace "EA" with "IT".



Lastly, I've noticed that many of the homes my wife and I visited NP, QH, WB etc, the water pressure kinda sucks. If I'm about to dish out a million+ for a home, I'd like to at least rinse the shampoo out of my hair. Any solutions to getting stronger water pressure?



Thanks in advance.



-Gotti
 
I think that the next release is scheduled for July (I don't know if that is phase 8 or 9)... and those homes will be on Paperbark - lot less traffick...the big question is whether the incentives for the high-traffic zone on winding way will be offered on the paperbark homes....I've also noticed that the homes on winding way seem to crowded... I think the builders got a little to ambitious in shoving huge houses there.. with the Mill Fleurs on the other side, its almost like driving through a canyon! They should have just made it a park.
 
[quote author="GOTTI" date=1212337053] . . . Also, I stumbled upon IHB.com by trying to find reviews of Lennar homes, does this corp build a solid product? I currently live in NP in a Shea home... Replace "EA" with "IT".



Lastly, I've noticed that many of the homes my wife and I visited NP, QH, WB etc, the water pressure kinda sucks. If I'm about to dish out a million+ for a home, I'd like to at least rinse the shampoo out of my hair. Any solutions to getting stronger water pressure?</blockquote>


As for building quality, it may take awhile to find it, but Lennar has been discussed somewhat extensively in the past. Try the search function.



Water pressure . . . I can only guess that you are somewhat new to California. For awhile now, the building codes have required low flow devices for nearly everything. For showers, I think it's about 2 gal per minute. If you take off the shower head, there *might* be a part that regulates the flow. If you can pop that out, it would help.



Alternately, you can do what they are doing in the high end homes: install more shower heads to get more water. I wonder how long it will be before the state mandates no more than one or two shower heads per shower?
 
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