2010 Woodbury/WB East New Home Collection

NEW -> Contingent Buyer Assistance Program
Someone correct me if I'm wrong, but the California Room is only included in the sf ft if you used one of the enclosed options like a "Conservatory Room"... although they could use the enclosed patio route and still not include the sq ft.
 
[quote author="Roo" date=1256009299]<blockquote>Smaller lots. The biggest lot size in the eight projects will be the 4,675 square feet in the Carmel project.</blockquote>


That's terrible. $800,000+ for less than 5,000 sf...really?



Does the sf include the california room? Are there walls or is it only a covered patio?</blockquote>


That may be the price difference between VR/Rosemoor and Carmel. I think that all lots for VR and RM are buit on 5000+ sq/ft lots.



Anybody know the lot sizes for Montecito and Sonoma?
 
[quote author="CK" date=1256008192]The Coronado plans in Woodbury East confuse me. Based on the picture it appears that these are probably alley loaded similar to San Simeon, etc --- but then I look at the floorplans and it looks like garages face out front along with the front doors (into a motorcourt I presume?). Anybody (BK?) have an idea which it is? Or could it be some sort of paired home like Paloma? And yeah, I know --- it's KB Home. But its the only SFR that falls into what we want to pay.



<a href="http://www.villagesofirvine.com/NewHomeCollection/coronado.aspx">Link to Coronado</a>



<img src="http://www.villagesofirvine.com/assets/images/residences/Coronado/Coronado_med.jpg" alt="" />



<strong>Edited to add:</strong> Yes, BK --- I did notice that in Coronado Plan 1 you flush the toilet right above the kitchen sink.</blockquote>


After studying the plans I am afraid the front doors behind the street units all face into the motorcourt. With little kid like your daughter running out the front door into a blind corner motorcourt may a potential safety issue. The trade off is getting rid of the paseo thus saving money by not doing decorative features, hardscape and enhanced landscape and use the extra land to pump up footage in the BagOChips prediction.
 
[quote author="CK" date=1256008192]The Coronado plans in Woodbury East confuse me. Based on the picture it appears that these are probably alley loaded similar to San Simeon, etc --- but then I look at the floorplans and it looks like garages face out front along with the front doors (into a motorcourt I presume?). Anybody (BK?) have an idea which it is? Or could it be some sort of paired home like Paloma? And yeah, I know --- it's KB Home. But its the only SFR that falls into what we want to pay.



<a href="http://www.villagesofirvine.com/NewHomeCollection/coronado.aspx">Link to Coronado</a>



<img src="http://www.villagesofirvine.com/assets/images/residences/Coronado/Coronado_med.jpg" alt="" />



<strong>Edited to add:</strong> Yes, BK --- I did notice that in Coronado Plan 1 you flush the toilet right above the kitchen sink.</blockquote>


CK.. I think the Portisols are exactly the same size as the Coronados. I am not sure about the lot sizes. but 43 Rising sun was going for $799,900 last year. These 1700 square feet new SFRs are going to sell for $550k. Didn't you tell you me if your landlord will sell you the rental for $550k you would take it in a heart beat? How do these compare to your current rental?



Personally, I think these home look better in the outside than the Portisols.
 
[quote author="irvine_home_owner" date=1256010102]Someone correct me if I'm wrong, but the California Room is only included in the sf ft if you used one of the enclosed options like a "Conservatory Room"... although they could use the enclosed patio route and still not include the sq ft.</blockquote>


"California Room" is a fancy word for "covered patio". The advantage of a covered patio on a compact lot is to shield from 2nd floor view of neighbors from the sides and behind. The exterior footage is not counted as a part of the floor plan footage unless there is an option to fill it in with interior space.
 
I think they did 3d renderings of some floorplans with these covered patios. It's hard to see but if you look here:



http://www.villagesofirvine.com/Villages-and-Residences/Woodbury.aspx



Scroll down a bit and on the right side there is an image that says "The 2010 New Home Collection" with an orange stripe on top and bottom. If you look out the window of the sliding door you can see the California Room with the covered top. I wish we could see some bigger renderings of these layouts it would help a lot.... the builders must have them.
 
To sum it up then, looks like just Sonoma and Carmel in Woodbury can be defined as the conventional single family homes. The remaining detached neighborhoods have their front doors oriented on a shared motorcourt/ driveway: Monterey, Coronado, Santa Cruz. And the remaining neighborhoods are attatched (in the order of least to most shared walls respectively): La Casella, Monterey, Santa Rosa.
 
Well I think it is a little bit alarming that the Irvine company is taking over these projects like that. At first I thought that the market has bottomed that is why there is new constructions, but if the Irvine company is doing this then that is a virtual bottom. The most expensive thing in CA is the land with Irvine company owning the land the home construction is nothing compared to that, they do not have to make any loans for the biggest cost of the new home i.e the land. The current prices reflect a 17-23% reduction from the peak, Irvine company is selling the homes with future land price in mind, so if you will hold the house for 20+ years maybe you will be ok on the long run if that. The land is not a true liquidity for them specially in this market and they are liquidizing it by forcing the new construction where the only cost for them is the construction cost, in my opinion they are selling you a land with a future price that might or might not be. Irvine is a controlled market and with this new move from the Irvine company it wants to hold to that as long as possible.



On the plans themselves I am still disappointed on the crazy small lots as if I live in an urban city. I have a problem with paying 800K+ for a house that where I can see my neighbors from my room. Plus total cost of the house is still far from rent. If a house/codo still cost 4k-7K that is a problem for sure.
 
[quote author="PANDA" date=1256011661]



CK.. I think the Portisols are exactly the same size as the Coronados. I am not sure about the lot sizes. but 43 Rising sun was going for $799,900 last year. These 1700 square feet new SFRs are going to sell for $550k. Didn't you tell you me if your landlord will sell you the rental for $550k you would take it in a heart beat? How do these compare to your current rental?



</blockquote>


The Plan 1 at Coronado is almost identical in size the Plan 1 Cal Pac Ivywood we lease. After reviewing these new floorplans in Woodbury/WE, now more than ever we are emboldened to wait it out and try to either buy the house we are in now or a twin brother of it in either Ivywood or Alder Creek (NP Square). As long as I feel there is hope that our 8 year old *true* SFR will fall back into the mid-$5's or so (its probably in the low-mid $6's right now), we will wait. Just can't reconcile the motorcourts or the exorbitant HOA/Mello Roos just to own new. For the price of one years mello roos in Woodbury East, you can make some pretty nice upgrades to bring current an existing home.
 
I think the whole thing is confusing and overpriced (still? LOL!) for this market. It's possible that the Irvine housing market has changed, but not the rest of SoCal. I doubt people will want to pay that much if they can get it a bit cheaper elsewhere and maybe for more sq. ft.



My guess is that they will sell within the next two years, but it'll be from a certain person (or persons) that snatch them up and have no problem putting down the $$ for 'em.



Is it wrong that I'm still curious how they plan on incorporating that "affordable housing" into the mix?
 
[quote author="bkshopr" date=1256011819][quote author="irvine_home_owner" date=1256010102]Someone correct me if I'm wrong, but the California Room is only included in the sf ft if you used one of the enclosed options like a "Conservatory Room"... although they could use the enclosed patio route and still not include the sq ft.</blockquote>


"California Room" is a fancy word for "covered patio". The advantage of a covered patio on a compact lot is to shield from 2nd floor view of neighbors from the sides and behind. The exterior footage is not counted as a part of the floor plan footage unless there is an option to fill it in with interior space.</blockquote>




Wasn't that basement room in Plan 4 at the Gables (one of the Columbuses) called a "California Room." That basement was pretty cool. Covered patio, not so exciting.
 
"California Room" has been used by other builders for their "bonus rooms" or even "breakfast nooks". In the case of these new WB/WE homes, they are 3-sided patios.



I like them... that's one less expense you have to worry about in landscaping your backyard... and a place to put your dog if it ever rains again in SoCal.
 
here are some fast numbers I ran. Let's take the cheapest they have. Santa Rosa for calculation purposes:



Let me assume that the low 300's is a dead 300K for the entry level plan 1, 1045 SF 1bd,1.5 bath+office. Let's say one will get a decent rate of 5.5% with 20% down. That means the loan is 240K that total to about (1100+350=1450/month) mortgage, plus at 1.25% tax ($312), +1% mellrose ($250)+ HOA ($250 wish I think is wishful thinking) total of $2262. Does that sounds reasonable. Not to me, I rent now a 2db/2bath 1200 SF in Newport beach with an amazing canyon view for $2315 from the Irvine company and word has it new comers pay below $2220 for the same floor plan.
 
[quote author="hey7019" date=1256017534]here are some fast numbers I ran. Let's take the cheapest they have. Santa Rosa for calculation purposes:



Let me assume that the low 300's is a dead 300K for the entry level plan 1, 1045 SF 1bd,1.5 bath+office. Let's say one will get a decent rate of 5.5% with 20% down. That means the loan is 240K that total to about (1100+350=1450/month) mortgage, plus at 1.25% tax ($312), +1% mellrose ($250)+ HOA ($250 wish I think is wishful thinking) total of $2262. Does that sounds reasonable. Not to me, I rent now a 2db/2bath 1200 SF in Newport beach with an amazing canyon view for $2315 from the Irvine company and word has it new comers pay below $2220 for the same floor plan.</blockquote>


Note that you'd be saving about $337.50 (25%) on the property tax and interest at the start of the loan. Also the HOA is going to be at least $350. The property tax and mello-roos will probably be 1.8% combined. Still not worth it IMO.



Purchase Price $300,000.00

Down Payment 20% $60,000.00

Interest Rate 5.50%

Number of Years 30

Mortgage $240,000.00

Monthly Payment $1,362.69

Property Tax 1.00% $250.00

Special Taxes and Levies (ex. Mello-Roos) 0.80% $200.00

Homeowners Insurance 0.25% $62.50

Homeowners Association Fees $350 $350.00

<strong>Monthly Cash Cost $2,225.19</strong>



Monthly Interest for Nth Payment 1 $1,100.00

Tax Savings (% of Interest and Property Tax) 25% -$337.50

Equity Hidden in Payment -$262.69

Lost Income to Down Payment 5.00% $250.00

<strong>Total Cost of Ownership $1,875.00

</strong>
 
[quote author="CK" date=1256016326][quote author="PANDA" date=1256011661]



CK.. I think the Portisols are exactly the same size as the Coronados. I am not sure about the lot sizes. but 43 Rising sun was going for $799,900 last year. These 1700 square feet new SFRs are going to sell for $550k. Didn't you tell you me if your landlord will sell you the rental for $550k you would take it in a heart beat? How do these compare to your current rental?



</blockquote>


The Plan 1 at Coronado is almost identical in size the Plan 1 Cal Pac Ivywood we lease. After reviewing these new floorplans in Woodbury/WE, now more than ever we are emboldened to wait it out and try to either buy the house we are in now or a twin brother of it in either Ivywood or Alder Creek (NP Square). As long as I feel there is hope that our 8 year old *true* SFR will fall back into the mid-$5's or so (its probably in the low-mid $6's right now), we will wait. Just can't reconcile the motorcourts or the exorbitant HOA/Mello Roos just to own new. For the price of one years mello roos in Woodbury East, you can make some pretty nice upgrades to bring current an existing home.</blockquote>


Well said CK. Cal Pac's Ivywood has so much offer than Coronado. A full driveway, a big back yard, a front door facing the street, a bedroom down with a full bath, a porch, a true great room across the back and some plans with a 3rd story bonus attic. Comparing features to features Cal Pac's Ivywood is a clear winner.
 
homeless Newbie, yes I did not do it all the way like that. But I agree it is still not worth it in my opinion. Is not "Total Cost of Ownership $1,875.00" this number close to the rent value of 1000SF 2bd/2bath apartments from the Irvine company in Irvine at least in this case you can get a roommate and share the rent with.



BTW, I heard the tax will be 1.25% and not 1% and I think mellrose is about 1% but I might be wrong.
 
lool I guess i am a true homeless newbie. Sorry irvinehapa, I did not know that we both share the same name :-) but the above reply is for you ;-)
 
[quote author="Nude" date=1255878158][quote author="Matchbox" date=1255877820]I agree, and its also kinda hokey to hang a TV above the fireplace.</blockquote>


ouch</blockquote>
I like a tv down low at eye level when I am sitting or even a little bit lower.

How do you like having your tv above the fireplace?
 
[quote author="awgee" date=1256022197][quote author="Nude" date=1255878158][quote author="Matchbox" date=1255877820]I agree, and its also kinda hokey to hang a TV above the fireplace.</blockquote>


ouch</blockquote>
I like a tv down low at eye level when I am sitting or even a little bit lower.

How do you like having your tv above the fireplace?</blockquote>


<strong>Short answer:</strong>

I like as much or better.



<strong>Long answer:</strong>

Initially, we had it at eye level on our old entertainment center. Like you, I was totally cool with it. What we discovered is that it doesn't bother us at all. In fact, when we turn out the lights and watch movies, it's more theater-like than it was at eye-level. I've also noticed less visual interruption by other objects, people, or laptops because they are lower in my field of view. I freely admit that I recline a bit more now, leading to inadvertent napping.



A bonus: as TVs got bigger they started taking up more square feet of living space... once we got it mounted it opened up that entire corner of the room. We created a reading corner that had a nice view of the roses, trees, and mountains out of the window. It's a nice place to watch the blue jays and storm clouds in the morning.
 
I was out walking the dog this morning and took the camera. I took some photos of the construction of Montecito. I wonder why they choose not to maximize the space above the garage in Plan 1.
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