Auburn at Stonegate by Richmond American
- Thread starter ps99472
- Start date
NEW -> Contingent Buyer Assistance Program
I'm sure you're bound to get someone to respond as they want to sell these homes to buyers.
But I do agree it kinda sucks to people who's unaware that these homes are even available as the plans aren't on the website and such.
yeah there has definitely been some advantages if you know the sales rep already and they've done transactions with you already. we bought with richmond at PP (and again at BP) so they knew we had the assets to upsize if we wanted.
at the end of it, i think we're burnt out from dealing with another home transaction so just gonna stay in our current little shack for now. (also price might be too rich for our blood)
the floor plans for the homes are great though and there are some really excellent lots. i think it'll sell well just by virtue of limited competition.
So you are saying that Builders have low margin. I don't know whether I agree, they say the same thing about restaurants and most other businesses but they all seem to be making lots of money, I know people who work for the Builders that make significant amount of bonus (almost half my annual salary).
Try calling RAH, emailing them, clicking on interested in Auburn, visiting their other sales offices.joy4ever said:
I'm sure you're bound to get someone to respond as they want to sell these homes to buyers.
But I do agree it kinda sucks to people who's unaware that these homes are even available as the plans aren't on the website and such.
irvine buyer
Active member
Received an email this week with updated pricing. Project still starts at $1,310,000 but the Chelsea model with the basement is now $1,725,000. Chelsea model with no basement is $1,325,000. I think management might have originally mis-priced the basement model as $125,000 was too low of a premium for a full basement.
AW said:
yeah there has definitely been some advantages if you know the sales rep already and they've done transactions with you already. we bought with richmond at PP (and again at BP) so they knew we had the assets to upsize if we wanted.
at the end of it, i think we're burnt out from dealing with another home transaction so just gonna stay in our current little shack for now. (also price might be too rich for our blood)
the floor plans for the homes are great though and there are some really excellent lots. i think it'll sell well just by virtue of limited competition.
The construction cost for a basement is very expensive, something like 50% more per s.f. higher than above ground construction.
The construction cost for Auburn's above ground structure (approx. 3000+ s.f.) probably cost just a little over $400k, but the construction cost for that approx 1000 s.f. of basement alone can easily exceed $200k.
My speculation of Auburn's construction cost is probably something like this:
$600k - $700k for the lot
$450K for the dwelling
$250k additional construction cost for the basement.
The construction cost for Auburn's above ground structure (approx. 3000+ s.f.) probably cost just a little over $400k, but the construction cost for that approx 1000 s.f. of basement alone can easily exceed $200k.
My speculation of Auburn's construction cost is probably something like this:
$600k - $700k for the lot
$450K for the dwelling
$250k additional construction cost for the basement.
Irvine Dream
New member
lnc said:
So you are saying that Builders have low margin. I don't know whether I agree, they say the same thing about restaurants and most other businesses but they all seem to be making lots of money, I know people who work for the Builders that make significant amount of bonus (almost half my annual salary).
From what I've seen in Irvine, the profit margin on the new home in is not very high for the builders (unless it's $2m plus homes), something like 15 to 20% profit margin. The reason is that builder has to pay absurd amount of money to TIC for those lots and at same time, builder can not ask ridiculous selling price for the new home if they want to priced it competitively.
If the builder happens also to be the developer, the profit margin will look a lot different. If we are talking abut Irvine Pacific, which is a subsidiary of TIC, I'm sure their profit margin are a lot higher than other builders.
If the builder happens also to be the developer, the profit margin will look a lot different. If we are talking abut Irvine Pacific, which is a subsidiary of TIC, I'm sure their profit margin are a lot higher than other builders.
LongIrvine
Member
Gross margins tend to be 20-25%. . . SG&A 10%. . . doesn't include cost of capital and carrying costs. . . .
New Home Co. is the contract builder for IPAC and they usually make apx 6-7% gross margins, but then don't have sales staff overhead etc. .
New Home Co. is the contract builder for IPAC and they usually make apx 6-7% gross margins, but then don't have sales staff overhead etc. .
fishfinder333
New member
These homes looks nice. I wonder what this will do to Palo Alto sales?
ACInvestmentRealty
New member
I love the quality of Richmond American. You can see the distinct difference in spec quality between RA and Pali Alto.
I heard out of 900 builders they were ranked number one.
The quality is really high spec. You can walk through the models in progress right now and even without interior design they are already so impressive.
I am a broker but I also bought into the first release, plan 4 Seneca which is about 4300 square feet. I also went through all three design stages already and completed design upgrades last month. Their designer was so amazingly thorough, talented, caring, and helped keep me in my tight budget. I spent about 130k in upgrades which included upgrading almost everything, all optional rooms, and even have 72" subzero fridge and solar panels which will save me a lot in electricity. Much of their upgrades are very reasonably priced and also included in their standard selections. Unlike other builders I bought before, they didn't gouge you and also gave credits for the standard against almost everything that I upgraded. 4300 or 4350 SF for 1.53 mil including upgrades is very excellent pricing. Per square foot price came out to $357Per ft.
This first release includes phase 1 and 2. Last month 4 already sold out of eight. For every phase they will go up probably ten to fifteen thousand or more so by the end of sixteen phases, assuming good economy, possibly a good increase of $200k. (Richmond American's Lafayette went from $1 mil to now modes selling for 1.5 mil for less than 3000 square feet in Stonegate just within last 1 year. Richmond Americans Ellwood in beacon park went from $800k to low $1.2 mil in one year thorough the phases) Best to buy in this early phase. Models will be released 7/23. But you can ask sales to show you the models currently in progress, the lots, the contract. Anyone can really go in and buy now as long as you prequal. I myself will prob do another 20k post closing upgrades after my closing end of the year.
I heard out of 900 builders they were ranked number one.
The quality is really high spec. You can walk through the models in progress right now and even without interior design they are already so impressive.
I am a broker but I also bought into the first release, plan 4 Seneca which is about 4300 square feet. I also went through all three design stages already and completed design upgrades last month. Their designer was so amazingly thorough, talented, caring, and helped keep me in my tight budget. I spent about 130k in upgrades which included upgrading almost everything, all optional rooms, and even have 72" subzero fridge and solar panels which will save me a lot in electricity. Much of their upgrades are very reasonably priced and also included in their standard selections. Unlike other builders I bought before, they didn't gouge you and also gave credits for the standard against almost everything that I upgraded. 4300 or 4350 SF for 1.53 mil including upgrades is very excellent pricing. Per square foot price came out to $357Per ft.
This first release includes phase 1 and 2. Last month 4 already sold out of eight. For every phase they will go up probably ten to fifteen thousand or more so by the end of sixteen phases, assuming good economy, possibly a good increase of $200k. (Richmond American's Lafayette went from $1 mil to now modes selling for 1.5 mil for less than 3000 square feet in Stonegate just within last 1 year. Richmond Americans Ellwood in beacon park went from $800k to low $1.2 mil in one year thorough the phases) Best to buy in this early phase. Models will be released 7/23. But you can ask sales to show you the models currently in progress, the lots, the contract. Anyone can really go in and buy now as long as you prequal. I myself will prob do another 20k post closing upgrades after my closing end of the year.