Trumark Sells Lake Forest Development Site to KB Homes

NEW -> Contingent Buyer Assistance Program
Yeah we too have been searching for a while, roughly 1.5 years.
Fortunately for us, my BIL is an electrician, my best friend from the good ole El Toro Hi is a professional landscape/hardscape guy, my friend at work is a painter and painted our last house at a really good price and a really good friend of ours is a general contractor.

I know I can use these same resources to upgrade or remodel a resale but the idea of new is just too tempting and we are just bored with the old floorplans and the separated rooms.
I also like the fact that the new homes come with a nice 10-year warranty and such and of course the newer technology. Plus the fact that we rather start with somewhat of a blank slate and make it our own. We like the great room concept and the openess of some of the newer floorplans.

I think PLAN 3 at WR is an ideal floorplan for us especially since I think I can park my fishing boat in the garage with extended storage area. Oh but then there's that price thing...





 
savagedub78 said:
Yeah we too have been searching for a while, roughly 1.5 years.
Fortunately for us, my BIL is an electrician, my best friend from the good ole El Toro Hi is a professional landscape/hardscape guy, my friend at work is a painter and painted our last house at a really good price and a really good friend of ours is a general contractor.

I know I can use these same resources to upgrade or remodel a resale but the idea of new is just too tempting and we are just bored with the old floorplans and the separated rooms.
I also like the fact that the new homes come with a nice 10-year warranty and such and of course the newer technology. Plus the fact that we rather start with somewhat of a blank slate and make it our own. We like the great room concept and the openess of some of the newer floorplans.

I think PLAN 3 at WR is an ideal floorplan for us especially since I think I can park my fishing boat in the garage with extended storage area. Oh but then there's that price thing...

You should just go new since you don't know a real estate agent or lender.

Don't forget to make friends with a gardener, an insurance agent, furniture salesman, and a moving company owner.
 
So has anyone been by this new community to check it out?

What are your impressions if you did?

Has anyone pulled the trigger any any of the homes yet in phase 1 or does anyone know if they have actually sold any lots yet?

Just looking for some info...

Cheers :D
 
swung by today to take a second look.  looks like in two weeks they have 4 of the 10 homes in phase 1 reserved.  the deposit is 5K.  they wont actually start signing sales contracts until 1/3. im curious to see how many of the 4 convert to actual contracts. they are doing a little better than i expected even they the homes are just reserved.  this is the lowest earnest money deposit i have ever seen. 
 
Yup, $5K and a pre-approval letter from your own lender is all you need to reserve a home.  Seems almost too easy.
 
gaogi said:
Yup, $5K and a pre-approval letter from your own lender is all you need to reserve a home.  Seems almost too easy.
They don't have to get pre-approved through their in-house lender?
 
Hey USC

that was my understanding as well.
5K and a pre-approved letter from your lender of your choice gets you a reservation for any of the lots in phase 1.

Cheers and Happy Holidays to everyone!!!
 
savagedub78 said:
Hey USC

that was my understanding as well.
5K and a pre-approved letter from your lender of your choice gets you a reservation for any of the lots in phase 1.

Cheers and Happy Holidays to everyone!!!

Correct. No pre approval from their in house lender to buy/reserve. From the time u enter into contract they will give u 30 days to qualify for a loan. If u don't qualify they will refund the 5k. Essentially they give a 30 day financing contingency. They do offer in house financing though through a partner lender

I also asked what If prices went down before they sale closes whether they would give u the price drop, they heavily implied they would because if u were to blackout they have to market the house at the lower price anyways. But once u close u would be SOL.

Seems like they are somewhat buyer friendly compared to most builders.
 
That's a very buyer friendly option.

In full disclosure, KB Homes "in-house lender" is MetLife. When KB switched from BofA to MetLife this year, they brought along some of their BofA mortgage loan officers. Those former BofA MLO's have struggled with the Met system causing numerous late closings in Q3. It's likely the reason why KB is letting buyer's go anywhere for their loans and not "in house". 

Don't know who might be the MLO at this development. The KB/Met lending operation is run out of Las Vegas, not Irvine.
 
Went to Whistler Ridge over the weekend. Unimpressed. The park across the two-lane road is hardly a park but rather a random greenbelt with no playground. There was no privacy in any of the floorplans. Neighbor windows peering into: master bedrooms, showers, ... heck, I even watched TV (Cars movie) from two houses away just through the windows! Then I ran down to that plan and up to the loft to verify - yep! It's like living in a fishbowl. You can watch your neighbor's tv from two doors down. I actually took pics of some of the crazy stuff we found. Did anyone notice the pantry shoved into what would normally be a coat closet under stairs? I lost interest after the second house I saw and didn't even bother dragging myself up the stairs. No point, really. Everyone likes to know about demographics. I paid attention and for ethnicity, saw: 2 vanilla families (3 if you include mine), 1 chocolate family, and 1 green tea. Of those, I noticed one was an elderly couple (no kids), one was older mom with two nearly-grown or grown sons (Boomerang kids, possibly), one family with an older child, only one with a young child, and mine which is not really relevant to who their buyers are. This place has zero ammenities. Your kids can't swim, play tennis, basketball, swing, or have a tot lot or yard, so I can see why it was primarily older families / childless couple looking. "Sarah" who I spoke with on the phone earlier was actually "Farrah" (my bad). Prices were same as last update here. If I had to find one thing I liked I guess it would be the doors. They are all extremely tall (8 feet?). Not exactly a selling point but I tried to find something that stood out.
 
I saw the models as well. Didn't care for the downstairs of plan 2--seemed awkward with the angled room. My only gripe with plan 1 was the entrance--did't like the huge stair case forming the hallway as I entered. I did like the 1st floor bedroom with bath and optional 2nd floor loft--seemed pretty efficient for sq footage. Plan 3 was still my favorite. Liked the 2nd floor layout with secondary bedrooms separated from MB by bathroom, loft, laundry room and staircase.

I read SoCal's post and didn't notice the sightlines on the windows but did feel the tightness of the homes (sadly it felt like typical TIC spacing). I also agree that your HOA doesn't get you much--the rep said they will build a Bocce Ball court and some trails--who plays Bocce Ball?
 
I went to take a look at Whisler Ridge over the weekend.

I liked:
1. The fact that the houses are not in that Tuscan/Italian/whatever it's supposed to be style of all the new Irvine developments. I don't like that look, aesthetically. I think they look like they are trying to build little tacky pretend castles. The homes at Whisler are something else. I think the sales guy said they were "classic American." I don't know, but at least they weren't brown, ugly pretend castles.

2. The hill/mountain views and peaceful surroundings. Of course, this is before the 60+ homes have been built. Probably won't be as peaceful after that.

3. At least two of the floorplans had loft areas at the top of the stairs. I like this. I don't know what I'd actually do with the space if I lived in one of these homes, though. The model homes had TVs there. (By the way, they were still playing Cars 2, Socal.) I don't think I'd use it for TV. But anyway, it looks nice to walk up the stairs and see an open area. Of course, you have the option of having them make it into a bedroom instead (which I'm sure makes the upstairs area feel much smaller).

I didn't like:
1. I need a formal living room and a separate family room. Not just one big great room, because it's not enough space to store all my toys and clutter. None of the floorplans had more than one living area, as I recall. So you get just one common area where your TV goes, instead of a formal living room and family room. I don't like this, but it has been the trend in every new home development I've visited lately.

2. I want two dining areas: a casual one, and a more formal one. I don't think that's too much to ask. I don't want a granite-topped island with a couple of bar stools pulled up to it. That's not a table. It looks cool, but it wouldn't work for my lifestyle. And I need a formal dining room, so I can have somewhere to put my formal dining table. A formal dining table is a must-have...you know, for storing mail and other knick-knacks that you haven't decided if you're going to keep or throw away.

3. One of the plans, I think it was 2, had all these weird diagonal angles all over the place. The TV was placed over the fireplace on a diagonal wall, which I thought was odd. They had a sectional couch in the room, but from the couch, it wasn't comfortable to watch the TV. You kind of had to turn your neck at a weird angle. I need to be comfortable while watching "The Bachelor."

4. None of the homes felt big. Even the one that was over 3,000 square feet...you didn't feel it. They all felt smaller than they were. I noticed a number of areas where too much square footage was allocated, in my opinion. One of the houses had this really big laundry room with a sink. I know a lot of people like a laundry room with a sink, but I don't care. I could just run to the bathroom next door to wash my hands after handling dirty clothes. And this plan also had the world's hugest shower. Like really, really huge, with this huge bench, upon which you could store 50 bottles of shampoo, conditioner, and body wash. There was a big bathtub, too. I think it was overkill. I'm not against large master bathrooms, but you have to have the rest of the house to support it. Like it has to be overall huge. You can't just have a small or normal house, with on-the-small-side bedrooms, and then have a baller master bathroom.

5. Really small yards.

6. Maybe I'm being too picky, but one of the secondary bedrooms in the largest plan had an en suite bathroom, while the other two upstairs bedrooms did not. If you have more than one child, I think this could pose a problem. I guess you just put your oldest or favorite kid in that room, and the other ones have to share a bathroom.

7. Totally nitpicky, but why can't they have all the models in the same order as the floorplans? Why is Model Home #1 actually floorplan 3, or whatever it is? Would it really be so hard to make them the same, just so simple people like me can keep track.

And...that's all.
 
Funny... I was just going to ask if anyone else has been to these models and how are they selling.

So weird... usually I would have been here opening day... I guess after looking at Summit Ridge... the area just doesn't have an appeal for us.
 
irvinehomeowner said:
Funny... I was just going to ask if anyone else has been to these models and how are they selling.

So weird... usually I would have been here opening day... I guess after looking at Summit Ridge... the area just doesn't have an appeal for us.

They have sold 4 through this past weekend.
 
qwerty said:
irvinehomeowner said:
Funny... I was just going to ask if anyone else has been to these models and how are they selling.

So weird... usually I would have been here opening day... I guess after looking at Summit Ridge... the area just doesn't have an appeal for us.

They have sold 4 through this past weekend.

Wow, only 4. Time to lower prices!
 
their goal is to sell three per month. they started on 12/17 i think. so they should be at around 6. i  think if they start falling significantly behind in the next three to four months then i think there will be some price drops or more likely they will start with some worthwhile incentives.  three homes per month must be some sort of industry benchmark. In Yorba Linda, Shapell's Corte Bella has the same goal.
 
looks like KB has recalibrated their pricing at Whisler Ridge
http://www.kbhome.com/Community~CommID~00450350.aspx

the plan 1s are now 675K (started at 650K), the plan 2s are 710K (started at 725K) and plan 3s are now 755K (started at 800K).

i knew the plan threes were going to tank. so this is about a 5% drop in the plan 3s. interesting pricing strategy to though to bring up the plan 1s to 675K. i guess they want to sell more plan 2s and threes?
 
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