Villages of Columbus - Columbus Grove - Lantana

NEW -> Contingent Buyer Assistance Program
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zovall_IHB

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


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


<strong>Tract:</strong> <a href="http://southerncalifornia.lyonhomes.com/homes/community.php/Lantana_at_Columbus_Grove.html?c=224" target="_blank">Lantana</a> (102 single family detached homes) in the City of Irvine


<strong>Builder:</strong> <a href="http://www.lyonhomes.com/" target="_blank">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> The anticipated total effective tax rate is approximately 1.8%, which is inclusive of Mello Roos


<strong>HOA Dues:</strong> Estimated HOA Dues are $175<strong>





Plans:</strong>


Residence 1 - 3bd/2.5ba - 2417 sq. ft.


Residence 2 - 4bd/3ba - 2697 sq. ft.


Residence 3 - 4bd/2.5ba - 2803 sq. ft.





<strong><u>PRICING</u>





</strong><strong> Phase 2 (1/11/07)


</strong> Residence 1 - From $899,990


Residence 2 - From $999,990


Residence 3 - From $1,014,990





<strong>Phase 3 (1/17/07)


</strong>Residence 1 - From $819,990


Residence 2 - From $849,990


Residence 3 - From $899,990





<strong>Phase 3? (1/28/07)</strong>


Residence 1 - From $819,990


Residence 2 - From $849,990


Residence 3 - From $884,900





<strong>Phase ? (2/19/07):</strong>


Residence 1 - From $824,990


Residence 2 - From $849,990


Residence 3 - From $884,990





<strong>Phase ? (5/19/07):</strong>


Residence 1 - From $794,990


Residence 2 - From $854,990


Residence 3 - From $892,497


<strong>


</strong>

<p><strong>Phase ? (Pricing on 6/23/2007):</strong>


Residence 1 - From $799,834


Residence 2 - From $860,301


Residence 3 - From $894,992</p>

<p>Inventory by release:</p>

<p>Phase 3 - August Move-In - one plan 1</p>

<p>Phase 4 - November Move-In - four plan 1's, one Plan 3</p>

<p>Phase 5 - December Move-In -- one Plan 1, four plan 2's (although one sold)</p>

<p>Six phases total --- the sales person told me last move in's would be early 2008.</p>

<strong>Phase ? (Pricing as of 9/9/07)</strong>


Residence 1 - $799,834


Residence 2 - $860,834


Residence 3 - $879,992



<p>Inventory list has 3 left from phase 4 (November move in) and 10 from phase 5 for December move in. Last move in scheduled for spring. Jerry told me they were "very motivated" on the 3 from Phase 4 --- all three can be had with $35k for incentives or rate buy down. </p>

<p>The three Phase 4 which all include pre selected updgrades are:


Plan 1B - Lot 78 - $827,990


Plan 1BR - Lot 164 - $822,990


Plan 3B - Lot 160 - $904,490</p>

<p><strong>Prices as of 11/29/07</strong>


Lot 78* - Plan 1B - 31 Snowdrop Tree - $855,536 lot sq ft = 3833 back yard depth = 20.2 ft


Lot 160* - Plan 3B - 85 Fringe Tree - $938,431 lot sq ft = 4399 backyard depth = 20.7 ft


Lot 80 - Plan 3B - 27 Snowdrop Tree - $919,790 lot sq ft = 4181 backyard depth = 18.5 ft


Lot 164 - Plan 1BR - 65 Fringe Tree - $832,791 lot sq ft = 4094 backyard depth = 25 ft


Lot 124 - Plan 1C - 24 Daphne - $832,791 lot sq ft = 3833 backyard depth = 20.2 ft





*Will feature upgraded flooring package</p>

<p><strong>Prices as of 1/16//2008</strong>


Plan 1 - 764,990


Plan 2 - 824,900


Plan 3 - 839,990</p>



<p>Plus 25K incentive if you go with their lender.


5 homes left (1 plan 1, 3 plan 2, 1 plan 3)


The 3 models are sold out.</p>



<p> </p>
 
<p>Zovall, thank you for your super-all-inclusive stats! (I forgot HOA / mello roos / school systems)</p>

<p>I'm surprised they haven't budged on their prices. Get with the program ! ! !</p>

<p>I also felt like everything in this tract needed to be upgraded to be "normal" quality ... adding to the cost. Therefore I never went back again.</p>
 
No problem Fraychielle! Actually, you got it all started with your initial post regarding the pricing! :) I figure this will be a way to keep all information related to a particular tract in one place. Hopefully it saves some time when people are researching the various tracts.





It's interesting how Lennar has their Everything's Included program whereas at William Lyon and KB you have to upgrade the homes a little to get to a comparable level.
 
<p>Hi folks,</p>

<p>Stopped by yesterday and picked up a recent price sheet:</p>

<p>Residence 1 - From 819,990</p>

<p>Residence 2 - From 849,990</p>

<p>Residence 3 - From 899,990</p>

<p>New phase release is Saturday - all floor plans will be available...</p>

<p>FYI</p>

<p>Tim</p>

<p> </p>
 
Thanks Tim! I've updated the first post. I wonder if the pricing you got is the same as what will be released on Friday...
 
<p>According to the sales office on site, that is the pricing for the next phase. It would suggest to me that the Kensington Court will be lowering prices this weekend as well as they are located literally across the street and as townhomes they should theoretically be less expensive. If I had to guess - $675,000 to $810,000 or so... (down from 713,000 to 843,000.)</p>

<p>Tim </p>
 
<p>The deposit was 3% the last time I went, which is a while ago. </p>

<p>Good to see prices coming down (8 - 15%) ... got some room to go.</p>
 
<p>Went by today to see how the action was on the new phase - for July - August move-in</p>

<p>I showed up at ~ 11:30 and discovered 8 of the 16 homes in the phase had been claimed. </p>

<p>What's left: (well, as of 11:30)</p>

<p>lot 144, plan 3CR 4225 sf lot, 889990</p>

<p>lot 146, plan 1CR 4051 sf lot, 819990</p>

<p>lot 147, plan 3B 4486 sf lot, 894990</p>

<p>lot 148, plan 1AR, 4225 sf lot, 824990</p>

<p>lot 154, plan 1BR, 4094 sf lot, 819990</p>

<p>lot 155, plan 2C, 4225 sf lot, 854990</p>

<p>lot 156, plan 1AR, 4094 sf lot, 819990</p>

<p>lot 157, plan 2B, 4225 sf lot, 854990</p>

<p>I wonder what the cancellation rate is going to be? I did not ask if they accept existing-home sale contingencies</p>
 
<p>Oh, and the last time we went, it seemed like the upgrades you needed to negotiate had gone away - I suppose with their prices they felt they needed to include those upgrades to get the homes to sell.</p>

<p>Now, the upgrade sheets are back. My guess is they feel the prices are "low" enough that they can start charging for them again.</p>
 
Stopped by today to check out these homes, nothing really impressive.. My mom lives in westpark so I've drive through this area countless times when it was just storage, nursery, and some weird apartment complex right next to the warner exit off jamboree.. I can see the rock quarry (cement processing?) near by across the canal and also the huge power lines above ground. Those were the visual negatives.. I think waste management also store their dump trucks nearby. As for the models.. plan 1 has a simple layout with no living room (who needs them) but the media niche in the family room is awkwardly placed. i never understood why builders don't center the tv in the room.. Plan 2 felt cramped the second we walked in, so we walked out. Plan 3 has an unusable bedroom 2 (it'll fit a crib and not much else) but otherwise adequate.. Prices are still consistent as reported above, except the plan 3 is now $884,900. Also the tax rate is 1.8% and not 1.69%
 
<p>What do you think caused the price increase on R1? I know a lot more people visited Lantana this weekend compared to last weekend but I wonder how significant that is in figuring out the demand and pricing.</p>

<p> </p>
 
Just got a price sheet at lunch time.





Resident 1 - $794,990


Resident 2 - $854,990


Resident 3 - $892,497





Haven't asked the agents if there were any incentives but I might check them out next week.
 
FYI spoke to the agents and they are bumping up the prices for plan2 and 3 in the last phase releases. Plan1 isn't selling very hot so they have managed to converted some plan1 lots into other plans.





There is a plan3 in earlier phases that was just listed this past week for over $1mil. Not sure what the seller is thinking when new ones next street can be had for $100K less. But the original purchase price was up there. Apparently the owner has relocated and the unit is now vacant.





Those prices listed are starting price for impacted units backing the industrial area. Non-impacted lots have about $20K higher premium. All units have $15000 incentives.





These will be the last of VoC detached homes with Irvine address.
 
<p>Visited here today:</p>

<p>Residence One - From $799,834</p>

<p>Residence Two - From $860,301</p>

<p>Residence Three - From $894,992</p>

<p>Inventory by release:</p>

<p>Phase 3 - August Move-In - one plan 1</p>

<p>Phase 4 - November Move-In - four plan 1's, one Plan 3</p>

<p>Phase 5 - December Move-In -- one Plan 1, four plan 2's (although one sold)</p>

<p>Six phases total --- the sales person told me last move in's would be early 2008. </p>
 
<p>I always expected the builders to price much more aggressively before private parties but it seems like the builders haven't budged in their pricing since April/May and we are officially in summer. I like VOC for its central location and am patiently waiting for the builders to become more realistic in their pricing. </p>
 
<p>rkp-</p>

<p>Don't lose your patience. The interest rates are just starting to pinch, and the end of summer is rounding the bend.</p>

<p>My prediction is you will see some increased incentives come August, and of course the real wheeling and dealing will begin when their end of fiscal year looms in the Nov-Dec timeframe.</p>

<p>SCHB</p>
 
Lantana is in a unique situation where the demand and pricing for similar units will differ dramatically on the same street, since some of the units will be backing the industrial area. We checked the availability last week and the unsold units are either plan 1 which are less desirable, or plan2/3 backing the industrial area. Most of the lots situated away from the industrial area and sold pretty fast. So when they do start to cut prices, it will be the remaining impacted lots which nobody want.
 
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