The Irvine Company's newest community.
The other day a buddy of mine sent me a link to a blog post on the OC Register about the new Woodbury East homes on the other side of Irvine next to the 5 freeway. I didn’t go to the grand opening myself, but from what I heard, hundreds of people lined up before the sales offices even opened. I’m not sure if that’s grossly exaggerated or right on the money, but what isn’t a rumor is that all 13 townhomes sold out in less than 15 minutes. That’s the whole first phase and they’re only building 58 homes total.
Plan D, Level 1.
Ivy by William Lyon Homes is the first community for sale in Woodbury East and is the Irvine Company’s latest. The pricing ranges from $350,000 to a little over $400,000 for 2 or 3 bedroom townhomes with 2-car garages. The plot sizes are a little small, but not terribly; the largest at 1,500 square feet. After doing all the math, you’re looking at almost $700 a month on top of the principal, interest and property taxes. It’s not a steal, but decently priced.
Plan D, Level 2
What was really surprising to me is that despite the economic tsunami that plauges the news night and day, each potential buyer that showed up prequalified for loans without exception. Now I only wish I’d camped out too! I wasn’t even doing anything that morning, except sleeping. The next phase will be released in 4 to 6 weeks.
damn those are pretty big freakin houses for 350k
just checked it out, they are pretty screwed and needed to raise cash, high leverage and the homes they built out in the deserts probably won’t sell so fast. ouch… but good time for oc residents to get a deal! best time to get anything is when other people are getting margined out all over the place
http://bit.ly/uWRyf (page 12, William Lyon Homes)
http://bit.ly/zaP1q “remains highly leveraged”
http://bit.ly/7ooXR “tantamount to default”
Yeah it’s not a steal, but definitely reasonable. I’m going to check it out on the weekend.