[newguy]

this may not be scientific, but wikipedia has an entry on household income in the united states.

http://en.wikipedia.org/wiki/Household_income_in_the_United_States

But it says that 15.73% of the entire US households make more than 100K. Only 5.84% make more than 150K. And I’m pretty sure that 5.84% aren’t all mid-to-high 20 year olds. =)

But I’m sure these numbers are a bit off for those who don’t report their income properly, so I’m expecting the numbers to be larger…but not much.

But here’s the breakdown:
0-25,000: 28.22%
25,000-50,000: 26.65%
50,000-75,000: 18.27%
75,000-100,000: 10.93%
100,000+: 15.73%
National Median: $44,389

Source: US Census Bureau 2005

[newguy]

Just to add to this, but the Lennar homes seems to only give a flat fee to the real estate agent. I’ve seen $8,000 at Barrington and $10,000 for Prescott. Unless they were just BSing me.

[newguy]

Just to add to this, but the Lennar homes seems to only give a flat fee to the real estate agent. I’ve seen $8,000 at Barrington and $10,000 for Prescott. Unless they were just BSing me.

[newguy]

I’m just curious, but what do your 94K in upgrades include (or is it too long to list)?

I only ask cause I went to Lennar’s flooring shop, and it’s a major rip-off. Just to change the entry way tiles (probably 5’x7′) from 8″ tiles to 12″ was close to $200. Doing the kitchen in the same 12″ tile was $2000. I can get those done from a private party for half that.

Overall though, I think Lennar has some nice “included” upgrades. Stainless steel appliances, granite table tops, beech cabinets throughout, crown molding, jacuzzi tubs, etc etc. It’s nice to know that most of what you see in a model home is what you get. However, the downside is that Lennar hardly offers any “upgrades” whatsoever. Just mainly flooring.

[newguy]

I’m just curious, but what do your 94K in upgrades include (or is it too long to list)?

I only ask cause I went to Lennar’s flooring shop, and it’s a major rip-off. Just to change the entry way tiles (probably 5’x7′) from 8″ tiles to 12″ was close to $200. Doing the kitchen in the same 12″ tile was $2000. I can get those done from a private party for half that.

Overall though, I think Lennar has some nice “included” upgrades. Stainless steel appliances, granite table tops, beech cabinets throughout, crown molding, jacuzzi tubs, etc etc. It’s nice to know that most of what you see in a model home is what you get. However, the downside is that Lennar hardly offers any “upgrades” whatsoever. Just mainly flooring.

[newguy]

Yes, I would be buying for more than financial gain. Like most people on this board, I think we know that there’s a group who buys with living in mind and there’s a group who buys with money in mind. I’m more of the former (but the money is still on my mind).

And besides, Harveston is literally down the street from where I will be working which is the biggest reason why I was primarily looking at the Harveston area. I also have other factors that lead to me buying so soon, but that’s another story.

And hipmatt, you’re right about the property tax. Definitely on the high side. But hey, I have to look on the bright side (*tax break*). Thanks for the congradulations and good luck. From looking at this site, it looks like I’m going to need a lot of luck to ride this out.

Deadzone: I would laugh at the neighbors who would sell their home 2-3 years from now at half of what I paid for. Cause they paid higher than me. And I would probably buy their properties as investment if I can buy a 3668sf house for 216K. Probably get one of those 100% financing, neg amortization loans with some jumbo 50 year loan. (kidding aside, I would definitely buy homes for 216K at 3668sf)

[newguy]

Yes, I would be buying for more than financial gain. Like most people on this board, I think we know that there’s a group who buys with living in mind and there’s a group who buys with money in mind. I’m more of the former (but the money is still on my mind).

And besides, Harveston is literally down the street from where I will be working which is the biggest reason why I was primarily looking at the Harveston area. I also have other factors that lead to me buying so soon, but that’s another story.

And hipmatt, you’re right about the property tax. Definitely on the high side. But hey, I have to look on the bright side (*tax break*). Thanks for the congradulations and good luck. From looking at this site, it looks like I’m going to need a lot of luck to ride this out.

Deadzone: I would laugh at the neighbors who would sell their home 2-3 years from now at half of what I paid for. Cause they paid higher than me. And I would probably buy their properties as investment if I can buy a 3668sf house for 216K. Probably get one of those 100% financing, neg amortization loans with some jumbo 50 year loan. (kidding aside, I would definitely buy homes for 216K at 3668sf)

[newguy]

And as a follow up story, I was able to find out how much the homes sold in our neighborhood. The highest for the 3668 sf home sold for 637K (Mar 2006) while the lowest it has sold for was 525K (Feb 2007).

Also, I found out that a 3668 sf home sold in the next phase (closes in Sept) for 470K + 20K incentives. And if my deal fell through, there were 3 backup offers (I had them reserve the house for me 2 hours before 3 familys came to look at it).

Also, the home that was 3063 sf that had “27,000” in upgrades was also sold as well as the other two homes closing in June/July were also sold (my guess is 440K + incentives).

So surprisingly, people are buying homes at a steady rate. How much they’ve bought them for or if the escrow will actually close…I don’t know. But at least in the Harveston community, it looks like homes are being sold.

Ehh…we’ll see how this plays out. I just hope that I won’t lose too much while the RE market is falling. Hopefully by the time I get out, the market will be rising again.

[newguy]

And as a follow up story, I was able to find out how much the homes sold in our neighborhood. The highest for the 3668 sf home sold for 637K (Mar 2006) while the lowest it has sold for was 525K (Feb 2007).

Also, I found out that a 3668 sf home sold in the next phase (closes in Sept) for 470K + 20K incentives. And if my deal fell through, there were 3 backup offers (I had them reserve the house for me 2 hours before 3 familys came to look at it).

Also, the home that was 3063 sf that had “27,000” in upgrades was also sold as well as the other two homes closing in June/July were also sold (my guess is 440K + incentives).

So surprisingly, people are buying homes at a steady rate. How much they’ve bought them for or if the escrow will actually close…I don’t know. But at least in the Harveston community, it looks like homes are being sold.

Ehh…we’ll see how this plays out. I just hope that I won’t lose too much while the RE market is falling. Hopefully by the time I get out, the market will be rising again.

[newguy]

Here’s a summary of the homes:

Charleston: 1929 sf (not sure about lot size) – 420K + 25K incentives ($205/sf)
Aberdeen: 2334 sf, 4300 sf lot – 428K + 10K incentives (170/sf, $97/lot sf) –> 390K + no incentives (167/sf, 91/lot sf)
Barrington: 2434 sf, 5130 sf lot – 392K + 10K incentives (157/sf, 74/lot sf)
Barrington: 3063 sf, 5130 sf lot – 455K + 10K incentives (145/sf, 74/lot sf) –> 409K + 10K incentives (130/sf, 78/lot sf)
Prescott: 3668 sf, 6300 sf lot – 432K + 10K incentives (115/sf, 67/lot sf)

[newguy]

Here’s a summary of the homes:

Charleston: 1929 sf (not sure about lot size) – 420K + 25K incentives ($205/sf)
Aberdeen: 2334 sf, 4300 sf lot – 428K + 10K incentives (170/sf, $97/lot sf) –> 390K + no incentives (167/sf, 91/lot sf)
Barrington: 2434 sf, 5130 sf lot – 392K + 10K incentives (157/sf, 74/lot sf)
Barrington: 3063 sf, 5130 sf lot – 455K + 10K incentives (145/sf, 74/lot sf) –> 409K + 10K incentives (130/sf, 78/lot sf)
Prescott: 3668 sf, 6300 sf lot – 432K + 10K incentives (115/sf, 67/lot sf)

[newguy]

Thanks for the pricing recordsclerk.

I’ve always wanted to go to Wolf’s Creek, but I’ve never had time (I have to drive from Diamond Bar…it’s about an hour away). Let us know if you hear anything else.

Just curious, for your friend that moved into the plan 2 for 480K…is that including closing costs? And for the other homes that are offering 20K-40K incentives, can that be directly taken off the home price? or do you have to use it on their “design center” etc?

[newguy]

Thanks for the pricing recordsclerk.

I’ve always wanted to go to Wolf’s Creek, but I’ve never had time (I have to drive from Diamond Bar…it’s about an hour away). Let us know if you hear anything else.

Just curious, for your friend that moved into the plan 2 for 480K…is that including closing costs? And for the other homes that are offering 20K-40K incentives, can that be directly taken off the home price? or do you have to use it on their “design center” etc?

[newguy]

Asianautica

It took me twice to fully understand what you meant. While the door handles are an option before and after the price slash, there are some options that you have to get. So while the 453K is the base price of their 3500 sf home, KB homes are not building homes with no options. Instead, they only have homes with granite table tops etc making their price now 499K. So in a way, it’s misleading.

And 23109VC is right about the options. When you enter the model homes, there’s a list on the right of the entry listing all of the options…and that list is long. I saw the standard options, and there’s nothing to be going crazy about. I would have no idea how you would be able to imagine all of their options etc etc and settle on what you would eventually want.

[newguy]

Asianautica

It took me twice to fully understand what you meant. While the door handles are an option before and after the price slash, there are some options that you have to get. So while the 453K is the base price of their 3500 sf home, KB homes are not building homes with no options. Instead, they only have homes with granite table tops etc making their price now 499K. So in a way, it’s misleading.

And 23109VC is right about the options. When you enter the model homes, there’s a list on the right of the entry listing all of the options…and that list is long. I saw the standard options, and there’s nothing to be going crazy about. I would have no idea how you would be able to imagine all of their options etc etc and settle on what you would eventually want.

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