Villages of Columbus - Columbus Grove - Alexandria

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<strong>Development:</strong> <a target="_blank" href="http://www.villagesofcolumbus.com/">Villages of Columbus</a>


<strong>Village:</strong> <a target="_blank" href="http://www.villagesofcolumbus.com/pages/villages/index.php?village=columbus%20grove">Columbus Grove</a>


<strong>Tract:</strong> Alexandria (??? single family detached homes) in the City of Irvine


<strong>Builder:</strong> <a target="_blank" href="http://www.lennar.com/">Lennar</a>


<strong>Schools:</strong> Irvine School District (<a target="_blank" href="http://www.iusg.org">IUSD</a>): Stone Creek Elementary, Lakeside Middle, Irvine High


<strong>Tax Rate:</strong> ???


<strong>HOA Dues:</strong> ???


<strong>


Plans:</strong>


Residence 1 - ???


Residence 2 - ???


Residence 3 - ???








<strong><u>PRICING</u>





</strong>???


These are already sold out.
 
<a href="http://www.redfin.com/CA/Irvine/22-Honey-Locust-92606/home/7201191"> 22 Honey Locust Irvine, CA 92606 </a>





<strong>Price: $809,000 Last Sale: $1,226,000 (08/31/2006)</strong>

Beds: 5

Baths: 4

Sq. Ft.: 3,168

$/Sq. Ft.: $255

Lot Size: 8,507 Sq. Ft.

Property Type: Single Family Residence

Style: Traditional

Year Built: 2007

Stories: 2 Levels

Floor: 1

Area: Columbus Grove

County: Orange

MLS#: S552037

Source: SoCalMLS

Status: Active

On Redfin: 1 day





New Listing (24 hours)

BANK OWNED!!!LOWEST PRICED & LARGEST HOME AT COLUMBUS GROVE, Highly upgraded with dark wood floors, designer carpets, traverine & tile floors, Large family kitchen with oversized granite island, 6 burner stove, granite counters & stainless appliances, upgraded wood cabinets. Custom wrough iron stair case, custom window shades, Master bedroom with fireplace & retreat/sitting area, walk in closet with organizers, jet bath tub at Master bedroom. There are 4 bedrooms upstairs at 2nd level & 1 downstairs with full bath plus 3rd garage converted to office/den(no known permit). Separate formal living room, large family room with fireplace. Located at the end of a cul-de-sac with extra large backyard perfect for pool, spa & more.
 
They've been trying to sell this house for mid $900s for the past few months or so.



At $800k, that is priced well below anything else in the area... the only problems are:



1. Faces a huge powerline.

2. Sides Harvard.

3. No landscaping.



I've never had a chance to actually go inside but it looks nicely upgraded... however as an REO... it might have gotten trashed since the pictures were taken (as has been the case in any shorts/foreclosures I've looked at).
 
Figures why it's still on the market at that price. I've driven by it and the power lines are scary.



[quote author="irvine_home_owner" date=1224919062]They've been trying to sell this house for mid $900s for the past few months or so.



At $800k, that is priced well below anything else in the area... the only problems are:



1. Faces a huge powerline.

2. Sides Harvard.

3. No landscaping.



I've never had a chance to actually go inside but it looks nicely upgraded... however as an REO... it might have gotten trashed since the pictures were taken (as has been the case in any shorts/foreclosures I've looked at).</blockquote>
 
IR featured this property a few months ago, it was listed for $880K then; I expect Alexandria houses will come down at least another 20% before it's done. I'll buy when it's somewhere around $650K...
 
[quote author="roundcorners" date=1224937987]IR featured this property a few months ago, it was listed for $880K then; I expect Alexandria houses will come down at least another 20% before it's done. I'll buy when it's somewhere around $650K...</blockquote>


The average Alexandria home sold for 1.1M to 1.2XM, so the only properties moving at 650k will be bank repos.



This particular home has a real disavantage of backing to Harvard/Warner and the power lines, and being somewhat funky looking so it could be a good price when sold, but I wouldn't take it. Also, Lennar put the same interior into every single house so if you've seen one, you've seen them all.
 
That Alexandria model is actually the best version of that Lennar plan. It's somewhat duplicated in Plan 3 for Rosemoor and Plan 2 for Villa Rosa but the Alexandria was better to me because:



1. Actual 3rd garage

2. Master retreat



Those will probably settle around $800k... which I would have bought 3 years ago... but my preferred location has changed.
 
[quote author="irvine_home_owner" date=1225173790]That Alexandria model is actually the best version of that Lennar plan. It's somewhat duplicated in Plan 3 for Rosemoor and Plan 2 for Villa Rosa but the Alexandria was better to me because:



1. Actual 3rd garage

2. Master retreat



Those will probably settle around $800k... which I would have bought 3 years ago... but my preferred location has changed.</blockquote>


So, I'm a little confused about your posting; you think the average Alexandria will settle at $800K? It's only 2008, you guys, and the "low" leading edge price is already $800K. $1.2m-$1.1m was at the very peak, $800K is only a 33% off. We still have a long ways to go. Look at the estimated 08 property tax, who can still really afford, 1.9% (tax + mellow roos) and $175 HOAs, those prices has to drop...
 
[quote author="roundcorners" date=1225184488][quote author="irvine_home_owner" date=1225173790]That Alexandria model is actually the best version of that Lennar plan. It's somewhat duplicated in Plan 3 for Rosemoor and Plan 2 for Villa Rosa but the Alexandria was better to me because:



1. Actual 3rd garage

2. Master retreat



Those will probably settle around $800k... which I would have bought 3 years ago... but my preferred location has changed.</blockquote>


So, I'm a little confused about your posting; you think the average Alexandria will settle at $800K? It's only 2008, you guys, and the "low" leading edge price is already $800K. $1.2m-$1.1m was at the very peak, $800K is only a 33% off. We still have a long ways to go. Look at the estimated 08 property tax, who can still really afford, 1.9% (tax + mellow roos) and $175 HOAs, those prices has to drop...</blockquote>


I thought the plan 3 was like $1.3M at the peak, no?
 
[quote author="roundcorners" date=1225184488][quote author="irvine_home_owner" date=1225173790]That Alexandria model is actually the best version of that Lennar plan. It's somewhat duplicated in Plan 3 for Rosemoor and Plan 2 for Villa Rosa but the Alexandria was better to me because:



1. Actual 3rd garage

2. Master retreat



Those will probably settle around $800k... which I would have bought 3 years ago... but my preferred location has changed.</blockquote>


So, I'm a little confused about your posting; you think the average Alexandria will settle at $800K? It's only 2008, you guys, and the "low" leading edge price is already $800K. $1.2m-$1.1m was at the very peak, $800K is only a 33% off. We still have a long ways to go. Look at the estimated 08 property tax, who can still really afford, 1.9% (tax + mellow roos) and $175 HOAs, those prices has to drop...</blockquote>
I'm talking about the ones that don't back Harvard and don't face the power lines.



And by settle... I mean stabilize. We'll probably see some hit below $700k but once the dust settles... the going prices should be around $800k for the best lots.



The other IHB veterans have much more experience than I do... I'm just guessing... but that's because I think the new homes will hold their pricing better because they didn't have a lower basis to start with. You'll find older similarly sized homes going for probably almost $200k less. But again... that's just my opinion... I'm no expert.
 
It has been my observation that older homes hold their value because they usually have:



1) Bigger lots - back yard or front yard, with full drive ways (very private)

2) No mello-roos and low or no HOAs

3) Neighborhoods with "roots" - large mature trees, familiar neighbors and established communities



Newer neighborhood values will stabilize lower because:

1) High mello-roos and HOAs

2) Value of lot will depreciate as more development come on line

3) Bad neighbor move in - unstable families or frequent turnover
 
[quote author="roundcorners" date=1225198238]It has been my observation that older homes hold their value because they usually have:



1) Bigger lots - back yard or front yard, with full drive ways (very private)

2) No mello-roos and low or no HOAs

3) Neighborhoods with "roots" - large mature trees, familiar neighbors and established communities



Newer neighborhood values will stabilize lower because:

1) High mello-roos and HOAs

2) Value of lot will depreciate as more development come on line

3) Bad neighbor move in - unstable families or frequent turnover</blockquote>
I think this is really subjective.



Other than the fact that newer homes have a higher starting price point which will psychologically keep owners from selling much lower, there are dozens of things to favor new homes holding their value better:



1. Newer homes are usually in better locations.

2. Newer homes have newer fixtures, floorplans, elevations etc.

3. Newer homes require less maintenance.

4. Newer homes have nicer amenities like clubhouses, pools and parks.



And again... there are many other factors... an older home in Turtle Rock will probably command more than a newer home in Northpark Square.



Personally... I prefer newer homes because after living in both... the newer home is less work. The older homes do have bigger lots... but I tend to spend most of my time inside the house.
 
[quote author="irvine_home_owner" date=1225238217][quote author="roundcorners" date=1225198238]It has been my observation that older homes hold their value because they usually have:



1) Bigger lots - back yard or front yard, with full drive ways (very private)

2) No mello-roos and low or no HOAs

3) Neighborhoods with "roots" - large mature trees, familiar neighbors and established communities



Newer neighborhood values will stabilize lower because:

1) High mello-roos and HOAs

2) Value of lot will depreciate as more development come on line

3) Bad neighbor move in - unstable families or frequent turnover</blockquote>
I think this is really subjective.



Other than the fact that newer homes have a higher starting price point which will psychologically keep owners from selling much lower, there are dozens of things to favor new homes holding their value better:



1. Newer homes are usually in better locations.

2. Newer homes have newer fixtures, floorplans, elevations etc.

3. Newer homes require less maintenance.

4. Newer homes have nicer amenities like clubhouses, pools and parks.



And again... there are many other factors... an older home in Turtle Rock will probably command more than a newer home in Northpark Square.



Personally... I prefer newer homes because after living in both... the newer home is less work. The older homes do have bigger lots... but I tend to spend most of my time inside the house.</blockquote>


New home communities are nice for people with toddlers, up to elementary school. There's a high concentration of kids the same age who will all go to the same school together, etc. A home built 10-15 years ago will have junior high/high school kids (Tustin Ranch and many Northwood communities are at the junior high phase). Older communities will have a mix of all (Turtle Rock, Deerfield). There will be kids in every neighborhood in Irvine, of course. But the concentrations seem to be based on age. Columbus Grove is at the preschool/elementary phase for sure. A night time walk is a mix of asian grandparents or parents with strollers/wagons with little kids.



Turtle Rock is known as the kids area, but a friend of mine who bought his dream home there found that all of his neighbors are retirees. I was surprised to hear that, maybe the broadmoor area is more kid intense.
 
[quote author="frank69m" date=1225271634]lol this house looks like a barn...and 20k for prop tax..lol</blockquote>
I think you just insulted no_vas... I heard he grew up on a farm.
 
[quote author="irvine_home_owner" date=1225326812][quote author="frank69m" date=1225271634]lol this house looks like a barn...and 20k for prop tax..lol</blockquote>
I think you just insulted no_vas... I heard he grew up on a farm.</blockquote>




I actaully was trying to buy that home about 3 months ago. I put in a bid for 850 but never heard back from them.

The only thing I heard at the time was there were several bids in and ours was on the low side. Now they are selling for

less. Maybe if they had taken one of the offers at the time it would have been sold by now.

Yes the location of that home is not the best, backing up Harvard. I did like the home inside, especially the master bedroom.

I did not like how many homes were on sale in that street. The backyard was big but a odd shape.
 
I actually really like the interior floorplan of that model.



Not many homes today in sub-3000 have a retreat in the Master (some do but are chosen to convert to a room instead).



matty: When you viewed it... was it still occupied? And if it was vacant... was the interior in good condition?
 
[quote author="matty" date=1225327417][quote author="irvine_home_owner" date=1225326812][quote author="frank69m" date=1225271634]lol this house looks like a barn...and 20k for prop tax..lol</blockquote>
I think you just insulted no_vas... I heard he grew up on a farm.</blockquote>




I actaully was trying to buy that home about 3 months ago. I put in a bid for 850 but never heard back from them.

The only thing I heard at the time was there were several bids in and ours was on the low side. Now they are selling for

less. Maybe if they had taken one of the offers at the time it would have been sold by now.

Yes the location of that home is not the best, backing up Harvard. I did like the home inside, especially the master bedroom.

I did not like how many homes were on sale in that street. The backyard was big but a odd shape.</blockquote>


I think the realtor problably try to get an overbid by saying that. Most realtors use this strategy to some success because they want a certain price. Your bid is considered low(at the time), but in hindsight it would be better to take the low bid. Congratulate yourself for not being a KC.
 
Besides the power line that you can hear zapping when you are near the house (therefore the electromagnetic radiation), there might be another problem - I was told that you have to sign a disclaimer because of the toxic ground (it used to be a hanger, so there are a lot of toxic chemicals dumped onto the ground). You cannot plant any edible plants - which made us to believe it's unsafe to have kids play on the grounds. We were told that only the top 6 inches of the grounds was replaced (if at all)....



If you want the property, you should be aware of it & investigate it further!!!
 
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