Building Communities Since 1988


Olson News

Grand Opening Celebration at Mission Walk!

April 28th, 2015

Mission Walk Model Grand Opening is happening this Saturday, May 2nd!

Come out to tour the beautiful new model homes and learn all about this exceptional new community in San Gabriel!

Stop by between 11:00 am & 2:00 pm to enjoy food, fun and music.

Mission Walk offers  up to 4 bedrooms, 3 baths and up to 2,245 square feet of living space and is the perfect place to call home. For more information on Mission Walk please call 562-370-9507.

Mission Walk New Home Center Opening This Saturday!

April 25th, 2015


The wait is over! Come visit Mission Walk to learn more about this exciting new community in San Gabriel!

Be sure to stop by and talk to one of our helpful home advisors! Sales office is open daily from 10:00 a.m. to 6:00 p.m.

Save The Date! Model Grand Opening Celebration Saturday May 2nd from 11:00 am to 2:00 pm.

For more information please call (562) 370-9507.

Report Calls For Orange County to Build More Housing

April 14th, 2015

Long a land of plenty for home buyers and builders alike, Orange County is running out of room. If it hopes to keep growing, the vast suburbia needs to change its ways.

That’s the thrust of a new report out Tuesday from the influential Orange County Business Council, which estimated that the county of 3.1 million already faces a shortfall of 62,000 homes and apartments to meet the needs of its workforce.

If job and housing projections hold true, that shortfall will deepen to 100,000 by 2040, the report says, making it harder for young families to find a place to live and for businesses to find high-quality employees.

“We already lose more than we should,” said Wallace Walrod, the Business Council’s chief economic advisor and author of the report. “This has long-term consequences for our economic competitiveness.”

The study, the council’s “Housing Scorecard,” is the latest in a string of calls lately to create more housing in Southern California, which is among the nation’s least-affordable housing markets.

Late last year, Los Angeles Mayor Eric Garcetti announced a goal of adding 100,000 homes in the city by 2021. Last month, the state’s nonpartisan Legislative Analyst’s Office issued a report saying 100,000 or more homes a year — mostly in coastal regions — are needed to keep already sky-high housing costs from dragging down California’s economy.

In Orange County, where home buyers have flocked for decades seeking a slice of the suburban life, the call to build more comes with a twist. There’s no longer enough open land to keep building vast tracts of single-family homes, the report says. The future lives in a town house.

“The era of big master-planned communities is not quite over, but it’s ending,” Walrod said. “The kind of development that’s going on in Orange County is fundamentally changing. It’s going to be more infill, mixed-use, high-density development.”

But in many parts of Southern California, high-density housing remains a tough sell. Orange County is no exception. The Business Council’s report cites environmental regulations and lawsuits as well as neighborhood opposition as two of the chief hurdles blocking more construction.

Winning local approvals for an “infill” project — typically denser redevelopment in an existing neighborhood — can take 18 months to two years, said Scott Laurie, chief executive of Olson Homes, a Seal Beach-based builder that specializes in those sort of projects. Picking the right site, winning over the neighbors and designing a project that makes sense economically all take time too.

“This is not the type of building that you see in outlying areas,” Laurie said. “This is a different business.”

But, he said, there is high demand. Olson Homes just sold out a development in Fullerton and is about to launch sales on 45 town houses in Huntington Beach, with strong early interest. Many buyers are willing to make trade-offs for a manageable commute and a good neighborhood.

“They’ll say, ‘I may not have a big house on a big lot,'” he said. “But I’m 15 minutes from work, I can walk to things and I have great schools.”

That’s the sort of thinking that led Roderick and Toni Ashford to The Groves, a new KB Home development in Fullerton. The couple recently relocated from Washington state for work, and were looking for someplace close to his job and their children’s school in Long Beach.

They looked at single-family homes in Orange County and around Long Beach, but soon tossed that idea aside. Everything was too expensive. Then they found a 2,100-square-foot town house in Fullerton for $540,000. They took it.

“It’s very expensive everywhere,” Toni Ashford said. “This is a good price for us.”

For some, the lure of a big house at a relatively low cost is still worth commuting from Riverside County, where the median home price in February was roughly half of Orange County’s, according to CoreLogic Dataquick. Maria Lopez, a real estate agent with Redfin in Chino and Corona, has seen a noticeable uptick lately of priced-out buyers moving east.

“For what you pay in Anaheim Hills or Yorba Linda, you can cross the 71 [Freeway] into Corona and get the same size property for a couple of hundred thousand dollars less,” she said. “People will make that trade for an extra 15 minutes’ drive.”

In the long run, though, that commute poses a big challenge for Orange County, said Esmael Adibi, an economist at Chapman University. If companies can’t find the workers they need, they’ll eventually move to where the people are, be that the Inland Empire or all the way to Texas. With an aging population, places like Orange County need to make sure they’ve got room to house the next generation.

“Everything else being equal, housing costs are a major, major factor to slowing down growth,” Adibi said.

And that’s what has the Business Council worried.

Orange County has already seen its age 25-to-34 population shrink 7% over the last 15 years, Walrod said. Nearly 40% of Orange County workers commute more than an hour a day. And at current trends, in 10 years half of the county’s homeowners will be over age 65.

If all that keeps up, Walrod said, Orange County won’t have the workers it needs to keep growing, unless it builds enough places for them all to live.

“If you look out five, 10, 20 years, the picture really becomes clear,” he said. Housing “can either be a huge positive for the area, or it can be our Achilles’ heel.”

Copyright © 2015, Los Angeles Times

The Olson Company Achieves #1 Rank In Customer Service Experience

April 10th, 2015


Eliant, the largest consumer research company in the country, has ranked The Olson Company #1 among major U.S. builders in homeowner satisfaction. The results, gleaned from more than 60,000 new homeowner satisfaction surveys, showed that The Olson Company received a score of 98.4 percent for its customer service experience at 5 months and 10 months after move-in. According to the firm, the average customer satisfaction ratings of the 125-plus homebuilders are typically in the 86 to 88 percent range. “We are honored and proud of our team’s collective efforts,” said Scott Laurie, CEO of The Olson Company. “Achieving the number #1 ranking from Eliant is a reflection of our ongoing commitment to provide industry leading homeowner satisfaction to our homebuyers.” Eliant CEO Bob Mirman added, “The Olson Company has won continuous awards from the Eliant Homebuyers’ Choice Awards competition for the past 4 years. This consistent dedication to customer satisfaction makes The Olson Company a leader within the national homebuilder community.” Founded in 1988 by Steve Olson, the Seal
Beach-based company has completed scores of communities and has several others under construction, nearing completion or planned. Pictured at the company’s Plaza Walk project in Cerritos are, from left, Bill Holford, president Olson Communities; Matt Savio, vice president of homeowner satisfaction; and Scott Laurie, CEO of The Olson Company. Plaza Walk, located at 18810 Pioneer Blvd., includes 25 townhomes ranging in size from 1,266 square feet to 1,821 square feet. The units are priced in the mid-$400,000s and offer up to four bedrooms and three bathrooms. The sales office is open daily from 10 a.m. to 6 p.m. For more information, call 562/370-9501. 

George Economides – Long Beach Business Journal

Mission Walk's New Home Preview Event

April 6th, 2015

Mission Walk

Please join us at the Mission Walk
New Home Preview Event!

Come meet our team and get all of the information you have been waiting for on Mission Walk in San Gabriel. View construction and landscape plans, exterior renderings, and interior finish samples. Meet our Home Advisors, Construction Manager, Designers and our preferred lender to get all of your questions answered. We will also be releasing our estimated price ranges and begin taking applications for our VIP priority list the day of the event.

Refreshments will be served.

We will be raffling an ipad mini, Din Tai Fung and Neiman Marcus gift cards.

Date: Saturday April 11, 2015
Time: 11:00 am to 3:00 pm
Place: Hilton San Gabriel
225 W. Valley Blvd.
San Gabriel, CA 91776
San Diego Room

For more information on this event please call (562) 370-9507.

Join Coastal Walk's VIP Priority List Today!

April 2nd, 2015

Click here to get pre-qualified today and join our VIP priority list. As an official VIP at Coastal Walk, you will be given exclusive access to private events and priority home selection. A private model showing and sales release will be held for the VIP Priority list. Our homes will offer up to 4 bedrooms, 3 baths and approximately 1,244 to 1,970 square feet. Information center is open from 10:00 a.m. to 6:00 p.m. Saturday and Sundays•.

• Information center will be closed April 5th due to the Easter Holiday.