jumpcut_IHB
New member
I live in Woodbury and the water pressure is fine. As Eva says, I did have to pop out the water flow restrictors from the shower heads when I moved in, but no big deal.GOTTI said:
Woodbury - Villa Rosa
- Thread starter irvine123_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
I am sure Lennar would love to take your money, especially if they don't have to give you a home for 6-9 months more months ;-)
LOL, good investment. Amazing that anyone would consider contracting on a home many months in advance of phase release, in what has been a rapidly deteriorating real estate market, in a development full of Alt-A buyers from 2006, and think its a great idea. As I type that out, it seems even more preposterous.
The overall OC market fell by 10%+ from January through April. How much did VR's prices fall during that time? Zip. They have only come down 10% or so from peak and you think they can't fall further?! Pretty much every other area in Irvine, even the rest of Woodbury, in all size ranges, has fallen further than that. Is VR that special or has Lennar just be skilled and lucky so far?
Villa Rosa may be holding up well now, but it'll be just another older development when OH and LC are building out. VR will suffer along just like Rosemoor is starting to do now. Actually, it won't take until OH and LC build for VR to get with the program. When Mille Fleur houses are going for $1.1-1.2M, which may be just around the corner, you can bet a plan 2 VR won't sell for $1.08M.
If you want a good investment, find someone to let you put a deposit down on a premium OH lot now...
LOL, woodbury is just as close...if not closer. the aquifer that comes off the hill goes straight to woodbury and missed PS.
BTW, the dump in the hills is a non-issue. It's a new lined dump that collects 100% of the runoff water. The only thing working against PS is that is close to the freeway (even though you can't hear it.)..and it's split in half by it's main artery.
How is Woodbury closer to the landfill? Last time I checked, WB is on a developed piece of flatland.
PS is quite close to the landfill. OH homes will be about as far if not further, as those in WB from it...
GOTTI - I agree that 100K+ is a big fat drop, but it really only amounts to 10-12% and brings the average cost per square foot to around $365... many SFR re-sale properties in Woodbury are starting to show signs of stress... which may put downward pressure on the later releases of new homes... I will agree however, that the Lennar people have been very shrewd with the Villa Rosa product... and I suspect that the current slow down/concessions are really only a reflection of the high traffic location of the current offering... but as for prices increasing, I'm not too sure on that either...credit is very tight in the Jumbo arena... and Fed commentary on inflation will make those mortgage rates creep up...
As for your 30K. Just mail a cashier's check to Santa Anita Race track C/o GrewUpInIrvine. I'm well known there and they will hold it for me at my window. I'll take a look at some guys I like on the turf races... should prove a great return... just leave a note and tell me where you want me to send the money and when you think you will need it by. Baby needs a new pair of shoes.
Haha! Nice, LET IT RIDE!!! I'll overnight a manila envelope ASAP!
So I stopped in the Lennar office yesterday. It was pretty obvious that the sales associate knew more than she wanted to divulge. She wanted me to fill out the credit app first to see if I would be qualified enough to even reserve a spot. Pretty silly if you ask me, what's the point of trying to "Qualify" for a lot that doesn't even have a price yet.
So with that experience, I think I just might pass up on Lennar. I'd rather take my chances with GUII.
This game really sucks.
PadreBrian_IHB
New member
As for poping out the flow restrictors of the showers...I would NOT do this on your kid's showers. You know the ones...they take 30 minute showers. 
That's a lot of money down the drain.
That's a lot of money down the drain.PadreBrian_IHB
New member
lol 99.9998% of people buying in Villa Rosa will be self made...flow restrictors for everyone.
serious weapon_IHB
New member
Hi everyone!
Thanks for your replies. I was trying to multi quote but... NM.
Eva, I've been in Socal for about 10 years now. I originally lived in Woodbridge and the water pressure there was awesome. I had a "Bachelor pad" in College Park, once again, awesome. But when I moved in with my GF at the time(wife now) I haven't had a good hair day since. Ref Seinfeld. Popping out the flow restrictors was the first thing I did but nada. I went to the garage to adjust the pressure regulator, it was maxed out. I tried turning it a bit more... I busted the regulator. I asked IRWD, they say it's "Fine". I told them it's at 35-40psi, I haven't heard back from them.
Well, if Lennar accepts my deposit for phase 9, I pray the water pressure will be at least 50-55 psi. Hope hope.
So what do you think are the chances of Lennar accepting a deposit on house that's two phases out?
Thanks for your replies. I was trying to multi quote but... NM.
Eva, I've been in Socal for about 10 years now. I originally lived in Woodbridge and the water pressure there was awesome. I had a "Bachelor pad" in College Park, once again, awesome. But when I moved in with my GF at the time(wife now) I haven't had a good hair day since. Ref Seinfeld. Popping out the flow restrictors was the first thing I did but nada. I went to the garage to adjust the pressure regulator, it was maxed out. I tried turning it a bit more... I busted the regulator. I asked IRWD, they say it's "Fine". I told them it's at 35-40psi, I haven't heard back from them.
Well, if Lennar accepts my deposit for phase 9, I pray the water pressure will be at least 50-55 psi. Hope hope.
So what do you think are the chances of Lennar accepting a deposit on house that's two phases out?
IACRenter_IHB
New member
I am sure Lennar would love to take your money, especially if they don't have to give you a home for 6-9 months more months ;-)
jumpcut_IHB
New member
Yes, I'd say the chances are at least 100%. You could reduce the paperwork by just giving Lennar an interest-free loan. Maybe the house will get built in 6-9 months, maybe not.IACRenter said:
irvine123_IHB
New member
I believe the builders have to complete "enough" work on and around the lot area and know when the home can be delivered before they can take a deposit. Also, your financial situation can change, and it is hard for the builder to holder you to the contract this far away. As the builder really has not much to gain, my bet is that Lennar won't take your deposit for a lot two phases down. It is not worth the effort and potential trouble for them. Their lawyer probably has to draft something different to the normal contract to accommodate your advance deposit. Yes you give them $30K, that is drop in a bucket for them even with their current liquidity issues.
Secondly, IF I were you, I will not put a deposit for a house I can't move in for at least 12 to 18 months. Many things can change: i.e. you might find a better house, etc.
The best thing for you to do is to keep your name on the very top of the list. You can do so by going there often, show-up for the next phase releases, confirm your position on the list, get to know the sales person, etc.
Good luck!
Secondly, IF I were you, I will not put a deposit for a house I can't move in for at least 12 to 18 months. Many things can change: i.e. you might find a better house, etc.
The best thing for you to do is to keep your name on the very top of the list. You can do so by going there often, show-up for the next phase releases, confirm your position on the list, get to know the sales person, etc.
Good luck!
GrewUpInIrvine_IHB
New member
It seems that a deposit will require two things (1) opening escrow and (2) a purchase agreement. The purchase agreement will in turn require a price! Why commit to a price today, that may be lower down the road? However, if you need someone to hold 30K that you can't find a place to store, I may be able to help you out. I'l just store it in a variety of puts and calls for safe keeping.
serious weapon_IHB
New member
It seems Lennar closed at 17.13 today. (+.54)... Damn.
GUII, I see your point but do you really think the Irvine market has not bottomed out yet? $116k price drop seems seems pretty huge. (06 vs. 08 -Plan2)
In regards to your most kind offer to hold 30 large, shoot me a pm, tell me what you had in mind.
I123, I don't really seeing it as putting a deposit on the house, my wife and I really want that corner lot in phase 9, Conifer. I figure that lot would be a good investment because there are only plan 2 and 3's in that phase. Plus it's the brick home, not that boring "Adobe-ish" aka bland option. I figure once the market gets its legs back, that would be primo location. Unlike Winding way.
IACR and Jumpcut, would the salesrep have the authority to roll that deal or would I have to speak to someone higher up on the totem pole?
GUII, I see your point but do you really think the Irvine market has not bottomed out yet? $116k price drop seems seems pretty huge. (06 vs. 08 -Plan2)
In regards to your most kind offer to hold 30 large, shoot me a pm, tell me what you had in mind.
I123, I don't really seeing it as putting a deposit on the house, my wife and I really want that corner lot in phase 9, Conifer. I figure that lot would be a good investment because there are only plan 2 and 3's in that phase. Plus it's the brick home, not that boring "Adobe-ish" aka bland option. I figure once the market gets its legs back, that would be primo location. Unlike Winding way.
IACR and Jumpcut, would the salesrep have the authority to roll that deal or would I have to speak to someone higher up on the totem pole?
ipoplaya_IHB
New member
GOTTI said:
LOL, good investment. Amazing that anyone would consider contracting on a home many months in advance of phase release, in what has been a rapidly deteriorating real estate market, in a development full of Alt-A buyers from 2006, and think its a great idea. As I type that out, it seems even more preposterous.
The overall OC market fell by 10%+ from January through April. How much did VR's prices fall during that time? Zip. They have only come down 10% or so from peak and you think they can't fall further?! Pretty much every other area in Irvine, even the rest of Woodbury, in all size ranges, has fallen further than that. Is VR that special or has Lennar just be skilled and lucky so far?
Villa Rosa may be holding up well now, but it'll be just another older development when OH and LC are building out. VR will suffer along just like Rosemoor is starting to do now. Actually, it won't take until OH and LC build for VR to get with the program. When Mille Fleur houses are going for $1.1-1.2M, which may be just around the corner, you can bet a plan 2 VR won't sell for $1.08M.
If you want a good investment, find someone to let you put a deposit down on a premium OH lot now...
serious weapon_IHB
New member
Well, yeah, OH would be nice but we can't wait that long. VR seems to be the best option for our family if Lennar can build our house by a certain time. But if phase 9 is released by the time OH is about to launch, of course we would have to re-evaluate our options.
My biggest problem with OH and Portola Springs is that it's on the other side of a landfill, no?
I really like the Serra plans but being on the other side of a landfill kinda bothers me.
My biggest problem with OH and Portola Springs is that it's on the other side of a landfill, no?
I really like the Serra plans but being on the other side of a landfill kinda bothers me.
PadreBrian_IHB
New member
GOTTI said:
LOL, woodbury is just as close...if not closer. the aquifer that comes off the hill goes straight to woodbury and missed PS.
BTW, the dump in the hills is a non-issue. It's a new lined dump that collects 100% of the runoff water. The only thing working against PS is that is close to the freeway (even though you can't hear it.)..and it's split in half by it's main artery.
serious weapon_IHB
New member
PadreBrian said:
How is Woodbury closer to the landfill? Last time I checked, WB is on a developed piece of flatland.
ipoplaya_IHB
New member
GOTTI said:
PS is quite close to the landfill. OH homes will be about as far if not further, as those in WB from it...
serious weapon_IHB
New member
Hey playa,
I'm not sure what area the "A" represents but I know the general area my wife and I want to live is where the "X" is.
That seems pretty far from the landfill.
Attached files
I'm not sure what area the "A" represents but I know the general area my wife and I want to live is where the "X" is.
That seems pretty far from the landfill.
Attached files
GrewUpInIrvine_IHB
New member
GOTTI said:
GOTTI - I agree that 100K+ is a big fat drop, but it really only amounts to 10-12% and brings the average cost per square foot to around $365... many SFR re-sale properties in Woodbury are starting to show signs of stress... which may put downward pressure on the later releases of new homes... I will agree however, that the Lennar people have been very shrewd with the Villa Rosa product... and I suspect that the current slow down/concessions are really only a reflection of the high traffic location of the current offering... but as for prices increasing, I'm not too sure on that either...credit is very tight in the Jumbo arena... and Fed commentary on inflation will make those mortgage rates creep up...
As for your 30K. Just mail a cashier's check to Santa Anita Race track C/o GrewUpInIrvine. I'm well known there and they will hold it for me at my window. I'll take a look at some guys I like on the turf races... should prove a great return... just leave a note and tell me where you want me to send the money and when you think you will need it by. Baby needs a new pair of shoes.
serious weapon_IHB
New member
GrewUpInIrvine said:
Haha! Nice, LET IT RIDE!!! I'll overnight a manila envelope ASAP!
So I stopped in the Lennar office yesterday. It was pretty obvious that the sales associate knew more than she wanted to divulge. She wanted me to fill out the credit app first to see if I would be qualified enough to even reserve a spot. Pretty silly if you ask me, what's the point of trying to "Qualify" for a lot that doesn't even have a price yet.
So with that experience, I think I just might pass up on Lennar. I'd rather take my chances with GUII.
This game really sucks.
PadreBrian_IHB
New member
The aquifer coming off that hill runs to the west. Woodbury is in it's direct path.
It's not like it matters. The landfill is lined and monitored like a hawk.
It's not like it matters. The landfill is lined and monitored like a hawk.
irvine123_IHB
New member
GOTTI, do you know if VR has sold out the five homes on "paperback"? That is the phase released before the current phase of five lots behind the model.
GrewUpInIrvine_IHB
New member
GOTTI - Don't be too turned off the the "prequalification" nonsense. Most new home builders that I have seen have similiar "requirments." They mostly do this to see if you will use their mortgage unit... just like the way they steer you towards their design centers... its just a way to make money on every single facet of the transaction. I'd consider "pre-qualifying" and then searching for your money elsewhere... but keep in mind, sometimes the builder will give you a lot of funny money to use their lender... I think that Lennar is currently giving 20K... which does a lot towards a loan buy down that you might not otherwise attempt.
Irvine123 - Yes. All five homes sold. And sold relatively fast. I think that it took about 45 days. As for this most recent batch.. they may be sitting for a while. For what it is worth, that grouping on paperback is a pretty nice zone. No thru streets, etc. Lower traffic... but I wouldn't want one of the homes against Trabucco... maybe I'll shoot for one of the homes directly across from the 5 released on paperback.
Gotta get over to Santa Anita and see if that envelope ever showed up.
Irvine123 - Yes. All five homes sold. And sold relatively fast. I think that it took about 45 days. As for this most recent batch.. they may be sitting for a while. For what it is worth, that grouping on paperback is a pretty nice zone. No thru streets, etc. Lower traffic... but I wouldn't want one of the homes against Trabucco... maybe I'll shoot for one of the homes directly across from the 5 released on paperback.
Gotta get over to Santa Anita and see if that envelope ever showed up.