Woodbury East Opening July 11, 2009

NEW -> Contingent Buyer Assistance Program
I am not sure if any one can answer this but did William Lyon Homes buy the (Woodbury East) land from TIC at a lower price than what some of builder's at Portola Springs did? I contacted Manzanita today and the sales lady told me that they are not sure if they will have another phase as they will need to buy more land from TIC and they are not lowering prices. Did Ivy's tract sell at smaller margin than the new construction at Portola Springs unloading them very quickly at $275 ppsf? Is it possible that TIC may lower their land cost to the new builders if the recession deepens and is it possible that TIC may have preferential pricing for their land for certain builders than others? This may be a question that only Irvine Renter may know how to answer. I am also curious to what Ivy's break even ppsf price would be minus the cost of land, operations, and overhead.
 
[quote author="diulei" date=1247449372]Just echoing the previous posts - it was like a zoo on opening day. My friend went around 9:30 before opening as well and it was already a zoo. Word on the street is that total taxes will come out to just under 2%. Not surprised that there were this many people - but my hope is that at least this will drive prices for those in Irvine down. Too many of these sellers are still living in fantasyland, wanting $350/sq ft.</blockquote>
I'd be willing to bet that at least 50% of the people came out for the freebies.
 
[quote author="ABC123" date=1247466260]I'm surprised the second model sold (I think plan A). It didn't seem like it would be BK approved with the stairs going out the door and the bedroom on the first floor feeling like living in a basement.</blockquote>
I forget which plan it was, but I think you're talking about the one where you are immediately confronted by two staircases upon entering...one going down, the other going up. I can't imagine who might be attracted to that layout, feng shui follower or not.



But the mango slushees were delicious and we used our $10 Counter gift card today.
 
[quote author="jumpcut" date=1247478609][quote author="ABC123" date=1247466260]I'm surprised the second model sold (I think plan A). It didn't seem like it would be BK approved with the stairs going out the door and the bedroom on the first floor feeling like living in a basement.</blockquote>
I forget which plan it was, but I think you're talking about the one where you are immediately confronted by two staircases upon entering...one going down, the other going up. I can't imagine who might be attracted to that layout, feng shui follower or not.



But the mango slushees were delicious and we used our $10 Counter gift card today.</blockquote>


Those units come with way too many people. ;)



I personally like that plan the best of the 4. Living area up gives better light and views, kitchen and living on the same floor as the master bedroom.



The strawberry slushee was good too.
 
[quote author="Gemini" date=1247408467][quote author="IrvineRenter" date=1247393846]

Don't let us bears wear you down. We have been bearish for 2 and 1/2 years now (and right); few of us see much reason to change.</blockquote>


IrvineRenter is even providing advertisement for Woodbury Easy, at least he get to make some money out of all these knife catchers :)



<img src="http://i25.tinypic.com/33nf6zb.jpg" alt="" />



G</blockquote>


I wish I could claim credit, but Adsense figures out which ads to put where. If anyone clicked on that, I might have made $0.50 of the Irvine Company. That would be funny.
 
IR,



If you just ask us to click on all the TICs adds, I'll bet you get lots of 50 cents, maybe even amounting to some real money.
 
[quote author="alan" date=1247481615]IR,



If you just ask us to click on all the TICs adds, I'll bet you get lots of 50 cents, maybe even amounting to some real money.</blockquote>


We should make like a once-a-week ad click day or if that's too much then once a month? Something where we all remember to click on the ads once every so often to help put money in the admin's pocket as a thanks. What do you guys think?
 
[quote author="alan" date=1247481615]IR,



If you just ask us to click on all the TICs adds, I'll bet you get lots of 50 cents, maybe even amounting to some real money.</blockquote>


I always click on the ads. Though, Irvine Renter deserves quite a bit more than 50 cents for the work he does on this site. I figure ever bit helps and it's the least I can do. I always wonder why the adsense hasn't been added to the Forums. Surely it would boost the clicks.
 
Why don't we all click on the ads ten times everytime we log in. We should add this as a new IHB rule. I don't mind helping Irvine Renter put some money in his pocket which he definitely deserves for all his hard work.
 
[quote author="SoCal78" date=1247482298][quote author="alan" date=1247481615]IR,



If you just ask us to click on all the TICs adds, I'll bet you get lots of 50 cents, maybe even amounting to some real money.</blockquote>


We should make like a once-a-week ad click day or if that's too much then once a month? Something where we all remember to click on the ads once every so often to help put money in the admin's pocket as a thanks. What do you guys think?</blockquote>


I cannot officially ask anyone to do that as it would be a violation of Google policy for me to do so. Google had to crack down on bloggers for doing that.
 
[quote author="IrvineRenter" date=1247485817][quote author="SoCal78" date=1247482298][quote author="alan" date=1247481615]IR,



If you just ask us to click on all the TICs adds, I'll bet you get lots of 50 cents, maybe even amounting to some real money.</blockquote>


We should make like a once-a-week ad click day or if that's too much then once a month? Something where we all remember to click on the ads once every so often to help put money in the admin's pocket as a thanks. What do you guys think?</blockquote>


I cannot officially ask anyone to do that as it would be a violation of Google policy for me to do so. Google had to crack down on bloggers for doing that.</blockquote>


Sorry... didn't realize.
 
[quote author="SoCal78" date=1247486029][quote author="IrvineRenter" date=1247485817][quote author="SoCal78" date=1247482298][quote author="alan" date=1247481615]IR,



If you just ask us to click on all the TICs adds, I'll bet you get lots of 50 cents, maybe even amounting to some real money.</blockquote>


We should make like a once-a-week ad click day or if that's too much then once a month? Something where we all remember to click on the ads once every so often to help put money in the admin's pocket as a thanks. What do you guys think?</blockquote>


I cannot officially ask anyone to do that as it would be a violation of Google policy for me to do so. Google had to crack down on bloggers for doing that.</blockquote>


Sorry... didn't realize.</blockquote>


No problem (notice I added the weasel word "officially"). It isn't like anyone is going to call the Google police ;)
 
[quote author="IrvineRenter" date=1247486652]No problem (notice I added the weasel word "officially"). It isn't like anyone is going to call the Google police ;)</blockquote>


And I might ad that they are the fastest and most efficient police in the world. Even better than Irvine. In fact I hear that the IPD is studying the Google police for ideas, since they have the down time and all.
 
[quote author="ArbyOC" date=1247264605][quote author="hesitating" date=1247237159]I wonder the HOA of $325 (per ArbyOC's post) is how much the residents are paying WHEN BUILT OUT, not when you move-in. Although that might be how much it states on the sheets they give out...</blockquote>


I asked the sales rep about build-out HOAs, and she said $325 (with a tone that indicated I was a moron for asking).



I may skip this weekend and hit the complex during the week on my way home from work, so if any of y'all go this weekend I'd love to hear what you thought.



Re: comments about possible lack of parking...perhaps they'll offer shuttle service when they make the visitor overflow park at the Spectrum. ;)</blockquote>


The reason I doubt the $325 is when built out was because the sales rep told my friend in exactly the same tone as you decribed above when she bought San Carlos at PS (same builder), but ended up my friend is paying $50 more every month now. That's the way it is and they're not trying to lie according to the sales rep. They usually give out the lowest built-out HOA, but subject to change. However I went to stop by on Sunday, all rooms (living, dining, kitchen..) are tiny and low ceiling on 2nd floor but I guess it gives what most starter family what...3 bedrm & 2 stories.
 
[quote author="Mcdonna1980" date=1247482525]

I always click on the ads. Though, Irvine Renter deserves quite a bit more than 50 cents for the work he does on this site. I figure ever bit helps and it's the least I can do. I always wonder why the adsense hasn't been added to the Forums. Surely it would boost the clicks.</blockquote>


We actually did have it on the forums a long time ago. We'll probably bring them back to the forum again in some form...
 
My $0.02:



This is not an endorsement to purchase William Lyon Homes in Irvine at current prices.



I've bought a couple condos from William Lyon Homes before and consider their construction quality to be above average, a "B". Better than KB Homes.



7 years after the condo was built, I called their service center about some water damage in the garage. They sent over a contractor right away to inspect it.



Then my air conditioning (or heating?) unit was making weird noises. The original contractor that put it in is long gone, but they found someone to come and replace an electrical component, free of charge.



I'd give their after sales service an "A".



There's a few minor issues, such as patio screen door not sliding correctly even after they replaced it (in year 1), and the kitchen's configuration is not optimal, the kitchen hood is lacking an exhaust pipe to the roof. But yes, I'd consider buying from them again.



From a property investor's point of view, even at $275/sq ft, it's kinda hard to make money. :(
 
I visited the Ivy models at around 9 am on Saturday, an hour before the advertised opening but the office and models were already open for business. I spoke to several prequalified buyers who were lined up to buy that morning, including two Chinese families who were paying all cash. Note that TIC advertised the WE opening heavily in the local Chinese press including World Journal/Chinese Daily News that I read. One of the Chinese couples, the husband was hesitant about the mello roos but the wife demanded that they buy immediately. The other Chinese couple were a bit concerned about the taxes/assessments and the noise from the 133 and SC but wanted to buy anyways as they had a kid they wanted in IUSD and Ivy was the only new construction in Irvine they could afford to pay cash for.



While it is to be expected from the participants on this board to have a condescending attitude towards current buyers, based on my discussions, many of the Ivy buyers over the weekend had considered the taxes, assessments, dues, proximity to 133 and Sand Canyon, the direction of the real estate market, and the overall economy in making their decision, hardly stupid, uninformed, or sheeple. Also, prices are so low that financing is not much of an issue for most buyers. There is simply no new home available in Irvine for $350,000 and with the large number of young families who want to live here, that in and of itself will sell this place.
 
What I don't understand is if really - you have the cash to plunk down two, three hundred grand for a starter home in Irvine - why go through this hassle of fighting for a townhome? Why not explore your options with that kind of money? Obviously if you have a couple hundred grand liquid in the bank, you're in a great position your options are much more than the rest of the general population.
 
[quote author="High Gravity" date=1247527395]I visited the Ivy models at around 9 am on Saturday, an hour before the advertised opening but the office and models were already open for business. I spoke to several prequalified buyers who were lined up to buy that morning, including two Chinese families who were paying all cash. Note that TIC advertised the WE opening heavily in the local Chinese press including World Journal/Chinese Daily News that I read. One of the Chinese couples, the husband was hesitant about the mello roos but the wife demanded that they buy immediately. The other Chinese couple were a bit concerned about the taxes/assessments and the noise from the 133 and SC but wanted to buy anyways as they had a kid they wanted in IUSD and Ivy was the only new construction in Irvine they could afford to pay cash for.



While it is to be expected from the participants on this board to have a condescending attitude towards current buyers, based on my discussions, many of the Ivy buyers over the weekend had considered the taxes, assessments, dues, proximity to 133 and Sand Canyon, the direction of the real estate market, and the overall economy in making their decision, hardly stupid, uninformed, or sheeple. Also, prices are so low that financing is not much of an issue for most buyers. There is simply no new home available in Irvine for $350,000 and with the large number of young families who want to live here, that in and of itself will sell this place.</blockquote>


Gotta love those demanding chinese wives... one more reason to avoid them!
 
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