irvinehomeowner
Well-known member
Must have run out of Plan 1 buyers on their waiting list.bwpunch said:
Willow Bend (formerly Vista Verde) in University Park
- Thread starter irvinehomeowner
- Start date
NEW -> Contingent Buyer Assistance Program
less suitcase FCB's nowadays. damn, these homes are on extremely small lots for $1.1 million+! jokers. Good luck to Wm. Lyon. haha
They must have trouble unloading the Branches and Willowbend.
Price reduction ($1.23mm to $1.18mm) on the Branches Plan 3 (2,550 sqft) that is under construction is now close to the price on the Plan 1 (2,200 sqft) Willowbend ($1.15mm).
Branches Plan 3http://www.redfin.com/CA/Irvine/88-SHADOWBROOK-92604/home/49744416
Willowbend Plan 1http://www.redfin.com/CA/Irvine/208-Bridlewood-92612/home/49780142
Price reduction ($1.23mm to $1.18mm) on the Branches Plan 3 (2,550 sqft) that is under construction is now close to the price on the Plan 1 (2,200 sqft) Willowbend ($1.15mm).
Branches Plan 3http://www.redfin.com/CA/Irvine/88-SHADOWBROOK-92604/home/49744416
Willowbend Plan 1http://www.redfin.com/CA/Irvine/208-Bridlewood-92612/home/49780142
jamboreedude
New member
Goriot said:
less suitcase FCB's nowadays. damn, these homes are on extremely small lots for $1.1 million+! jokers. Good luck to Wm. Lyon. haha
Chairman
New member
Some reasons for the high price in that area are due to the following:
The location is more ideal since it is west of the 405 (closer to the beach and a few degrees cooler).
They also don't have mello roos but the interesting thing is that the full cost of mello roos is probably baked into the price of the home. Instead of stretching the payments out over years you pay it off up front. Not sure what the interest rate would be if you discounted the future cash flows of Mello Roos back to what the premium you pay today would be, but you probably pay more over time vs a balloon payment up front. Still it makes no sense since you shouldn't have to pay anything for a community that is already established. Only reason it has been driven up is because every other new home has mello roos.
And lastly, it is part of the coveted University High School District.
Did I miss anything else? I really wanted to live in that area due to the great location but the floor plans were tiny for a 1 MM+ home and I wasn't crazy with the facades they offered. I guess this home was all about location, location, location.
The location is more ideal since it is west of the 405 (closer to the beach and a few degrees cooler).
They also don't have mello roos but the interesting thing is that the full cost of mello roos is probably baked into the price of the home. Instead of stretching the payments out over years you pay it off up front. Not sure what the interest rate would be if you discounted the future cash flows of Mello Roos back to what the premium you pay today would be, but you probably pay more over time vs a balloon payment up front. Still it makes no sense since you shouldn't have to pay anything for a community that is already established. Only reason it has been driven up is because every other new home has mello roos.
And lastly, it is part of the coveted University High School District.
Did I miss anything else? I really wanted to live in that area due to the great location but the floor plans were tiny for a 1 MM+ home and I wasn't crazy with the facades they offered. I guess this home was all about location, location, location.