Villages of Columbus - Columbus Grove - Clarendon

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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> <a target="_blank" href="http://southerncalifornia.lyonhomes.com/homes/community.php/Clarendon_at_Columbus_Grove.html?c=239">Clarendon</a> (102 attached townhomes and condominiums) in the City of Tustin


<strong>Builder:</strong> <a target="_blank" href="http://www.lyonhomes.com">William Lyon Homes</a>


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


<strong>Tax Rate:</strong> Approximately 1.7% including Special Assessments


<strong>HOA Dues:</strong> $374 total ($148 Master and $226 Sub)


<strong>


Notes:</strong> This tract contain some units designated for the <a href="http://www.villagesofcolumbus.com/affordable/" target="_blank">Villages of Columbus Affordable Homeownership</a> program


<strong>


Plans:</strong>


Residence 1 - 3bd/2ba - 1217 sq. ft.


Residence 2 - 3bd/2.5ba - 1764 sq. ft.


Residence 3 - 3-4bd/3ba - 2042 sq. ft.





<strong><u>PRICING</u>


</strong><strong>


Phase ? (September/October 2006)</strong>


Residence 1 - Unavailable


Residence 2 - From $630,126


Residence 3 - From $677,183 <strong>





Phase ? (Thanksgiving 2006)</strong>


Residence 1 - Unavailable (see below for the reason)


Residence 2 - Was $632k, new $618,126


Residence 3 - Was $680k, new $656,183 <strong>





Phase 2 (picked up January 10th, 2007)</strong>


Plan 1 - Not available


Plan 2 - From $624,350


Plan 3 - From $664,096


<strong>


</strong>Lot 35 - Plan 3A - $664,096


Lot 37 - Plan 2BR - $630,447


Lot 42 - Plan 2CR - $628,236


Lot 48 - Plan 2BR - $624,350





Includes - Granite counters in kitchen, stainless steel appliances, stainless steel sink/faucet, white ceramic tile in kitchen and master bath, ceiling fan pre-wire in bedrooms and family room, surround sound prewire, recessed lights in master bedrooms and family room (plan 2) and living rooms. The Plan 3's are being built with a 4th bedroom in lieu of a den, and all plan 2's and 3's include the upper laundry room cabinet.


<strong>


Phase 3?</strong><strong>


</strong>Residence 1 - From $513,501


Residence 2 - From $616,841


Residence 3 - From $658,041
 
<p>Just after Thanksgiving 2006, they had a price adjustment. </p>

<p>R1- Unavailable (see below for the reason)</p>

<p>R2- Was $632k, new $618,126</p>

<p>R3- Was $680k, new $656,183</p>

<p>For some reason, in mid-December those prices had each adjusted up about $1000.</p>

<p>R1 has been unavailable because it has been the unit of choice (lowest cost 3br) in this community for the Tustin low-income housing program, and consequently no units have been available for sale to general public.</p>

<p><strong>It looks like in early/mid January (the prices in the post above), they decided to include the granite and other upgrades and bumped the prices slightly (less than the value of the upgrades), again lowering the transaction costs for a popularly equipped unit.</strong></p>

<p>The overall layout of thes units (within the building) is similar to Lennar's Meriwether (Columbus Square):</p>



Two two story units side by side (sharing 1 common wall)

3 garages in the rear

1 unit above the garages (Lennars is a 2BR)

>

<p>They are quite different internally, though.</p>

<p>SCHB</p>
 
Great info yet again! Do you have any more details about how the low-income housing program works in Tustin? Do they get to buy a home wherever they want?





I didn't think any of these homes were designated as affordable housing. I suppose that's different from the low-income housing program.. ?
 
<p>Zack, I was perhaps too casual in my use of the low-income term. The proper name may be affordable housing.</p>

<p>The way the affordable housing was explained to me was that they get some % off a plan. In this case, everyone choses the cheapest plan so that gets sucked up, but hey were not constrained to chosing that unit.</p>

<p>I know in a few other communities, there is a designated "affordable" floor plan (usually a really small 3BR).</p>

<p>SCHB</p>
 
<p>Prices from Sept/Oct 2006:</p>

<p>Res 1 - Unavailable</p>

<p>Res 2 - From $630,126</p>

<p>Res 3 - From $677,183</p>
 
I received an email from Lyon that Phase 3 has been released last week with pricing starts from $609k on Plan2. I think Plan3 is now $648k. In the email, they're claiming 7 out of 10 available units has been reserved.
 
<p>Red, I think they did a "partial" phase release in order to try to create a sense of urgency. (an increasingly common tactic)</p>

<p>The prices are still coming down, though, which is good news.</p>

<p>SCHB</p>
 
SCHB- I thought partial release was always a common tactic. In booming time, it allows them to increase pricing on next release. In slowing market, it allows them to keep pace with demands. Most builders these days build in phases, I guess they must have learned from the 90s? It does seem like they manage the slow market a little better this time. The Fed also seems to be better at engineering a soft-landing (ready to lower or increase the rate slowly based on housing data).
 
"Prices went up marginally ($2-8k) for this phase."





Homebuilders are SOOOOO addicted to this scamming game and seriously think the public is going to buy into this hype (buy-it-now-before-it-goes-up-again-next-phase). Helloooo?? Against the backdrop of rising foreclosures and tightening lending standards, it is madness that they think they can find anyone willing to pay even a quid more. They are merely playing up for the spring selling season, but watch the prices will drop again.
 
Okay. You guys might remember me from the Savannah forum saying we got a home in Savannah but we backed out and bought the residence 1 in Clarendon instead. It`s alot better and it is 3 bedrooms instead of 2.
 
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