Sales Center Now Open, Marking First Milestone for New Community; Development to Offer Affordable, LEED Certified Townhomes and Flats for First-Time Homebuyers
COVINA, CA. – April 26, 2011 – The Olson Company, the leading developer of in-town urban living, is kicking off its newest residential community, Citrus Walk, with the opening of its sales center. Located in the heart of downtown Covina, Citrus Walk will offer affordable, LEED Certified homes that give residents and first time home buyers the opportunity to purchase innovatively designed homes that suit their active, urban lifestyles and their budgets.
The sales center will celebrate its opening with a local community event on Saturday, April 30 from 11am until 2pm. The opening festivities will include delicious dishes from the popular local restaurant, Taste of Texas, and great giveaways for attendees including iPads, gift cards and more. The popular radio station home to Ryan Seacrest, KIIS FM, will also be hosting “Manny on the Street” at the center from 3pm-5pm.
Citrus Walk is The Olson Company’s fifth new urban living residential development in the Covina area. The Citrus Walk community will offer 37 townhomes, 8,000 square feet of new retail along downtown Covina’s Citrus Avenue. Citrus Walk will offer 12 flats over the new retail storefronts. The townhomes will be 2-3 bedrooms, 2.5 baths, 2-car garages.
“The new Citrus Walk community embraces innovative architecture, the latest in ‘green’ home design and will integrate a new and refreshing urban lifestyle element to Covina’s downtown,” said Steve Olson, Chairman/CEO of The Olson Company. “As the fifth new home development here in the Covina area, The Olson Company is honored to be able to contribute a tailored development that will embrace the best of the area and also help it continue to thrive. We have worked with the City of Covina for many years now, and are thrilled to be kicking off this latest project in partnership with them.”
The Olson Company’s numerous successful urban living developments across Southern California over the last 22 years reflect its commitment to the homebuyer as top priority. With its notable homeowner satisfaction, The Olson Company has garnered prestigious Eliant Awards in six categories in 2010, including a number one ranking for the “Design Selection” experience, and second for delivering an incredible experience during the Purchase, Construction, and Customer Service phases, and ranked second for “Overall Quality” and “Sales from Referrals.” The Olson Company believes in “livability”, and implements a thoughtful and detail-oriented approach from concept through execution. As part of their unique approach to providing these communities, The Olson Company understands all that goes into buying a new home and provides tailored services to support the needs of homebuyers, such as financial education and continued support services.
Citrus Walk is located at 158 Clementine Court Covina, CA 91723. To learn more about Citrus Walk visit CitrusWalk.com.
About The Olson Company
Established in 1988, The Olson Company and the Olson Homes brand are nationally recognized for creating unique in-town neighborhoods in urban communities throughout California. Headquartered in Seal Beach, Calif., The Olson Company has successfully partnered with governmental agencies and private landowners to create innovative housing solutions designed to fulfill the lifestyle needs of today’s buyer. The company works diligently with community and neighborhood groups to build a high level of awareness and broad-range community consensus around its neighborhoods. The Olson Company was awarded the prestigious “Builder of the Year” award by Professional Builder Magazine and the National Association of Home Builders.
Seal Beach, CA (Vocus/PRWEB) April 13, 2011 – It happens this time every year. Thousands of landlords across the southland send notification to their tenants that an increase of up to 10% will be added to their current monthly payment for rent. While a common reaction will be to just bite the bullet and renew at the higher payment, many smart homebuyers are weighing the option of making a home purchase instead. For those individuals, Olson Homes is offering 6 new home communities with payments comparable to what the landlord wants for rent. Michelle Johnson VP of Sales and Marketing for the Olson Company points out “With landlords raising rents again, many renters are considering home ownership as a way to control costs”
“But looking for a great loan just got a bit harder” said Michelle Johnson remarking on the recent FHA move. “One of the best loan programs out there today is from FHA, which allows buyers to purchase a home with only 3.5% down combined with flexible guidelines. However, with two critical FHA guidelines about to change, securing these loans will become increasingly difficult. Financial institutions are urging homebuyers who plan to take advantage of FHA financing to lock in their purchases now before the changes take effect later this month. This is why Olson Homes is trying to educate buyers on the value of home ownership over renting.” Michelle also points out that Olson Homes understands what today’s young buyer is looking for and builds communities based on today’s lifestyle values.
Adding to the challenge is a second change the FHA will be rolling out this month. “The FHA is severely limiting the number of loans they will allow in a condominium community to only 30%, which means the FHA is anticipating that they will be running out of loans before the summer even begins” says Ruby Johnson, VP of DRE/Escrow for Olson Homes. “With only a finite number of cases available many home shoppers will have to go with higher cost conventional financing. When the money runs out, most buyers will need to put 10%-20% down for conventional financing.” In this economy, that may put potential homeowners out of the market and right back into the rental market. The choices are either pay the rent increase or move again in search of an affordable alternative.
Many worry that with interest rates set to rise, with that in mind, they are moving forward with a home purchase now rather than wait. This way they are locking in an interest rate below 5%, making their monthly payments comparable to what they were paying in rent.
With 6 great new home communities located throughout Southern California, Olson Homes has a new home community perfect for young urban lifestyles designed to help kick the rental habit.
Olson Homes is currently helping new homebuyers fire their landlords with the following communities: Mosaic Walk in Garden Grove, from the low $300,000′s, Rio Walk in Montebello, California priced from the 290,000′s, Willow Walk in Compton, California priced from the mid $200,000′s, Sycamore Walk in Garden Grove, California priced from the mid $400,000’s, Citrus Walk in Covina, California now forming an interest list with new townhomes and flats from the mid $300,000′s, and Heritage Walk in Paramount, California offering new single family detached homes from the high $200,000′s.
To learn more about these Olson Homes communities, visit OlsonHomes.com/smartbuy.