Who bought the 2010 home?

NEW -> Contingent Buyer Assistance Program
JR said:
I was just wondering. Have you noticed a huge water tank just right next to the Monterey lot? If there is a natural disaster, such as an
earthquake, who would cover for the damages? Have someone talk to the builder or the Irvine Ranch Water District?
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I think that water tank can be a serious danger not just to the homes, but the residents themselves. Imagine the wall of water coming from that tank and the debris it will pick up. In my opinion some deaths can occur for those who are in the wrong spot at the wrong time. Imagine a large earthquake in the middle of the night and a wall of water that you can't see.
 
Just to updates .....

I didn't go with the builder bank (BOA) The rates is Ok with the incentives, but they just don't work to negotiate as they promised after I show them the printed offer from another bank ... anyway they are the big banks with high fees. I get to save a few thousands, if I go with BOA I need to buy pts and the problems with buying pts is ...... if the rates drop in the next 45 days they only negotiate to give you a discount on refunding some money from the pts and not the rates,

I pick an outside bank and locked my rate at 30 years fix at 4.875% without buying any pts and get to lower my rates if the rates goes down the next 45 days. My broker/agent friend even cover some of the fees with her commissions as I already paid fees on the earlier BOA lock. She thinks I might be able to get us 4.75% later ..... but let see.

I asked her if she is interested to take clients here but she told me she is not planning to as she is not in LA ..... she got my other friend a 4.3% last year but that was a 15 year fixed.

Mike



 
mikeirvine said:
Just to updates .....

I didn't go with the builder bank (BOA) The rates is Ok with the incentives, but they just don't work to negotiate as they promised after I show them the printed offer from another bank ... anyway they are the big banks with high fees. I get to save a few thousands, if I go with BOA I need to buy pts and the problems with buying pts is ...... if the rates drop in the next 45 days they only negotiate to give you a discount on refunding some money from the pts and not the rates,

I pick an outside bank and locked my rate at 30 years fix at 4.875% without buying any pts and get to lower my rates if the rates goes down the next 45 days. My broker/agent friend even cover some of the fees with her commissions as I already paid fees on the earlier BOA lock. She thinks I might be able to get us 4.75% later ..... but let see.

I asked her if she is interested to take clients here but she told me she is not planning to as she is not in LA ..... she got my other friend a 4.3% last year but that was a 15 year fixed.

Mike
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One of my buyers locked a 30-year jumbo mortgage at 4.75% earlier last week with no points so your friend should be able to do a little better.
 
Mike
[/quote]
One of my buyers locked a 30-year jumbo mortgage at 4.75% earlier last week with no points so your friend should be able to do a little better.
[/quote]

Wow.  That's great rate.  What ever happen to the interest rate rising once the government stops buying mortgage-backed securities?
 
Nice rate at 4.75% .....  usctrojancpa hopes you can help others here to get a better rates with your buyer brokers ... thanks

The rate can be better if it a 30 days lock, the closer you get to the closing the better, but I locked at 57 days ...... , she told me to wait closer to the closing and the rates is still going down and we can change it. Bank of America called today and the manager offers with no pts plus incentives and that is another few thousands better than my agent, the BOA Manager has connection with Irvine company and the builder told me he can over write the builder 45 days contact and I still can change to BOA. Make sure you compare the loan fees too, my agent fees is half of BOA and that is a few thousand dollars .... let them fight it out...

I will wait and see who give me a better rates and fees at the end when it get closer as it still about 2 months away .... when you locked a rates it doesn't mean that is the final rates, you just secure a rate and my agent offers to cover some fees with her commissions. I didn't loan much so it not a big different in interest rates.

I think the more we share information here, will help others later ..... I'm a first time buyer and this is my first Loan in my life so don't take my words on everything :)

Thanks
Mike

Irvine2Irvine said:
Mike
Click to expand...
One of my buyers locked a 30-year jumbo mortgage at 4.75% earlier last week with no points so your friend should be able to do a little better.
[/quote]

Wow.  That's great rate.  What ever happen to the interest rate rising once the government stops buying mortgage-backed securities?
[/quote]
 
mikeirvine said:
Nice rate at 4.75% .....  usctrojancpa hopes you can help others here to get a better rates with your buyer brokers ... thanks

The rate can be better if it a 30 days lock, the closer you get to the closing the better, but I locked at 57 days ...... , she told me to wait closer to the closing and the rates is still going down and we can change it. Bank of America called today and the manager offers with no pts plus incentives and that is another few thousands better than my agent, the BOA Manager has connection with Irvine company and the builder told me he can over write the builder 45 days contact and I still can change to BOA. Make sure you compare the loan fees too, my agent fees is half of BOA and that is a few thousand dollars .... let them fight it out...

I will wait and see who give me a better rates and fees at the end when it get closer as it still about 2 months away .... when you locked a rates it doesn't mean that is the final rates, you just secure a rate and my agent offers to cover some fees with her commissions. I didn't loan much so it not a big different in interest rates.

I think the more we share information here, will help others later ..... I'm a first time buyer and this is my first Loan in my life so don't take my words on everything :)

Thanks
Mike

Irvine2Irvine said:
Mike
Click to expand...
One of my buyers locked a 30-year jumbo mortgage at 4.75% earlier last week with no points so your friend should be able to do a little better.
Click to expand...

Wow.  That's great rate.  What ever happen to the interest rate rising once the government stops buying mortgage-backed securities?
[/quote]
[/quote]
Even a rate of 4.75% with 1/2% pt is a very good rate.  I believe my buyer has like about $900 of fees to pay on that loan.  The broker that I referred him to was a lender that one of my other buyers used (it was a broker that all his other co-workers used).  So my buyer provided me the referral.  He's a really good guy because he will e-mail you the wholesale rate sheet on a daily basis if you want.  He just adds some basis point for his commission to the wholesale rate so everything is very transparent.  I want to say that he adds 3/4pt to 1pt to the wholesale rate to get to the final rate.
 
PPBABA said:
Irvine2Irvine said:
PPBABA said:
Plan 2, and we did both... taking it up to 3122 sq ft
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Great!!  That was my favorite plan of the three.  I almost took one myself.
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What made u choose Sonoma over Carmel at the end?
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Congrats on the home.

Plan 2 with the conservatory and bonus room was out favorite as well.  We ended up with sonoma just for the price.  No kids so we did not need the room yet. 

Which phase are they selling now?
 
nytransplant said:
PPBABA said:
Irvine2Irvine said:
PPBABA said:
Plan 2, and we did both... taking it up to 3122 sq ft
Click to expand...

Great!!  That was my favorite plan of the three.  I almost took one myself.
Click to expand...

What made u choose Sonoma over Carmel at the end?
Click to expand...

Congrats on the home.

Plan 2 with the conservatory and bonus room was out favorite as well.  We ended up with sonoma just for the price.  No kids so we did not need the room yet. 

Which phase are they selling now?
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The should be finishing up phase 9 now. Phase 10 would be the final 4 house on top of where the sales office & its parking lot... then there are the 3 model homes.
 
PPBABA said:
Irvine2Irvine said:
PPBABA said:
Plan 2, and we did both... taking it up to 3122 sq ft
Click to expand...

Great!!  That was my favorite plan of the three.  I almost took one myself.
Click to expand...

What made u choose Sonoma over Carmel at the end?
Click to expand...

It was more of price thing.  While I felt comfortable with the Carmel price. but my wife wanted to take the more conservative approach.  Also, the Sonoma plan 3 gave us 4br/3ba + bonus/loft.  I know that the Carmel gives one more bathromm, but my boys can share a bathroom, especially when there's a door between the vanity and toilet. So we decided to go with Sonoma.  But I would have been just as happy (even a little more happy) if I bought Carmel.
 
Oh, Another thing that made me pause on Carmel was that I saw one of very last two Las Colinas plan 3 (3100 sq ft on 5800 sq ft lot with tandem 3 car garage) for $1,008,000 with $45,000 upgrade allowance.  Unfortunately, my house which I was selling did not close escrow in time for me to buy one, so I was kind of bumed out.  When I saw Carmel Plan 2 selling at the same price, I was a little turned off and it steered me to Sonoma.  I really like Las Colinas plan 3 but it was not meant to be!!!  But, I will be saveing $700 per monthe now that I boughy Sonoma.
 
Wow, 45K upgrade allowance?? Did you get any for Sonoma?? I never got to see Los Colinas, but we thought on the Carmel plan 2, for about 50K we can get almost 500 more sq ft... and we thought the extra bathroom will come in handy once kids get older... my brother and I used to fight over who had to clean the restroom we share every weekend LOL.

 
PPBABA said:
Wow, 45K upgrade allowance?? Did you get any for Sonoma?? I never got to see Los Colinas, but we thought on the Carmel plan 2, for about 50K we can get almost 500 more sq ft... and we thought the extra bathroom will come in handy once kids get older... my brother and I used to fight over who had to clean the restroom we share every weekend LOL.
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Actually, Los Arboles at Portola Springs had $55K in incentives even though it was less expensive house.  This was back in February.

However, none of the 2010 Woodbury and WE collection have any kind of incentives, period!!!

Las Colinas was at the end of the build out and they had been building since 2006.  I just missed it by a couple of months.  I would had to REALLY convince my wife that we wanted the house.  But, my wife REALLY prefered the open floorplan of 2010 collection.  For example, Las Colinas has basically 2 nice dining rooms, which my wife thought was a waste.

You know how the saying goes...  If your wife is happy, then YOU are happy!!!
 
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