SEAL BEACH, CA. – The Olson Company, the leading developer of in-town urban living, announces plans for two new residential communities in the Los Angeles area. Closing on two plots in the areas of Westchester and El Segundo for the planned communities of “Gateway Walk” and “Pacific Walk“, Olson plans to complete construction by 2012.
Olson Homes plans to create a 14 unit single family detached residential community in Westchester, with homes between 1,800 and 1,821 sq. ft., featuring 3 bedrooms with additional loft space, 2.5 baths, and 2 car garages. The new El Segundo community will consist of 12 attached townhomes, ranging in size from 1,597 to 1,622 sq. ft., with 3 bedrooms, 2.5 baths, and 2 car side-by-side or tandem garages.
Expected to be completed in 2012, both new home communities will offer desirable commutes to the nearby employment centers in the South Bay – including Los Angeles, Hawthorn, Manhattan Beach, and Marina Del Rey, as well as close proximity to the nearby beaches, and many retail, dining and entertainment options. With simultaneous construction, potential home owners interested in the South Bay will have the choice of townhome or single family detached living.
The homes, built to exceed LEED green living standards, will include energy efficient amenities including Energy Star appliances; water efficient and lead-free faucets; highly water efficient toilets; auto shut-off motion sensors in all baths, space saving tank-less water heaters, and built-in recycle bins, among many other features.
“Olson Homes looks forward to building competitively priced homes in the Westchester and El Segundo communities, our fourth and fifth communities in the South Bay area,” said Steve Olson, Chairman/CEO of The Olson Company. “The new communities will create jobs and fill a need for affordable housing in the area, as well as further underscore our commitment to building in ‘walkable’ areas.”
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.
To learn more about Olson Homes please visit www.OlsonHomes.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, California, 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.
Black Friday is upon us! While merchants are busy gearing up for a record Black Friday filled with sales, Olson Homes wants to spell out 10 reasons why shoppers should buy a new home instead. So here are our 10 reasons why it’s good to buy a home and skip the big box Black Friday sales.
1. Home shoppers have waited long enough. Good deals are available for the asking.
In case home shoppers may have missed this, this is the best buyer’s market we have seen on over 30 years. If home shoppers are waiting for the bottom, they may have already missed it! No one will ever catch the bottom mostly because no one knows where that is. The truth is it doesn’t really matter so much in the long haul.
2. Mortgages are cheap. Very cheap.
Home shoppers can get a 30-year loan for around 4.3%. In some cases home shoppers may find special buy down rates that get down to 3.75% What’s not to like about low interest rates? These are the lowest rates on record. As recently as two years ago they were about 6.3%. That drop slashes your monthly repayment by a fifth. If inflation picks up, home shoppers won’t see these mortgage rates again in their lifetime. And if we get deflation, and rates fall further, homeowners can always refinance.
3 Home shoppers will save on taxes. Tax breaks for itemization.
Here is a plus. Home shoppers can deduct the mortgage interest from their income taxes. Try doing that on your standard holiday purchases. With a new home purchase, home shoppers can deduct their real estate taxes. And they’ll get a tax break on capital gains–if any–when they sell. Sure, home shoppers need to do the math. Homeowners only get the income tax break if they itemize their tax deductions, and many people may be better off taking the standard deduction instead. The breaks are more valuable the more people earn, and the bigger their mortgage. But savvy homeowners will find that these tax breaks mean owning costs them less, often a lot less, than renting.
4. This time it’s personal! That new home is a design showcase.
Get in early enough on a new home and home shoppers can have the kitchen and bathrooms they really want. Homeowners can upgrade to their hearts content. They can get the flooring, window treatments, and upgraded appliances they have dreamed about. New home ownership also allows homeowners to add these items to their monthly mortgage payments at a cost that adds only a bit more to their monthly mortgage payments. Black Friday shoppers should try this instead of maxing out their credit cards at 22% interest rates. Consider that fact when in the check out line that this purchase won’t will be paid back for many years to come. Hmmm, maybe buying a new home instead does make more sense?
5. Home shoppers get a better home. Much Better!
Renting a place gives people a place to rest their heads and a space to park their belongings, but generally speaking, if they want the best home in the best neighborhood, most people are better off buying a new home. Plus new homeowners get that great new home smell!
6. It offers some inflation protection.
Black Fridays come and go but studies by Professor Karl “Chip” Case (of Case-Shiller), and others, suggest that over the long-term housing has tended to beat inflation by a couple of percentage points a year. That’s valuable inflation insurance, especially if raising a young family and thinking about the next 30 or 40 years. The rule of thumb is if anyone that plans on living in a place for 5 years or more, they may be better off buying than renting. If someone is planning on moving every few years they may want to re-think that strategy and lock-in home ownership while it is still affordable and within reach.
7. It’s risk capital. That is comfort now, equity later.
No, a home isn’t the stock market and no one should view it as the way to get rich. Thats what got people into the mess we see on the news. But current indicators suggest that the economy may surprise us all and start booming, sooner or later real estate prices will head up again, too. Long after the Black Friday sale items are forgotten in the back of a closet, your new home will have gained equity. One lesson from the last few years is that stocks are incredibly hard for most normal people to own in large quantities–for practical as well as psychological reasons. Equity in a home is another way of linking part of a portfolio to the long-term growth of the economy–if it happens–and still managing to sleep at night.
8. It’s forced savings. Pay yourself first!
Suppose one can rent an apartment for $2,000 month instead of buying one for $2,400 a month, renting may make sense. But will people save that $400 for their future? A lot of people won’t. People have to do the math, but need to remember that part of a mortgage payment that goes to principal repayment isn’t a cost. Homeowners are just paying themselves by building equity. As a forced monthly saving, it’s a good discipline.
9. There is a lot to choose from. 4 New home communities to be exact!
Olson Homes may be biased, but when it comes to home affordability, home shoppers should consider one of our great new Southern California new home communities. From the mid $300s Olson Homes has the best selling Citrus Walk in Covina visit Citruswalk.com, from the high $200s Olson Homes has 2 new home communities; the final phase of Rio Walk in Montebello visit RioWalkHomes.com, and the very last home at Heritage Walk in Paramount visit HeritageWalkParamount.com, and in Garden Grove from the low $300s there is the nearly sold out Mosaic Walk visit MosaicWalk.com. Any of these communities offer great locations and great value for new home shoppers.
10. Sooner or later, the market will clear. Be there when it does.
Demand and supply will meet. The population is forecast to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes. Meanwhile, today’s home shoppers will be so happy they bought a new home now, and be able to brag about how smart they were way back when people without vision let this once in a lifetime home ownership opportunity pass them by.
So there it is! 10 great reasons not to shop on Black Friday and buy a new home instead.
COVINA, CA – October 5, 2011 Experience a lifestyle inspired by fresh thinking, innovative design, and modern style. Citrus Walk offers you a new take on in-town living that stands out. It’s a new kind of life that includes fresh-new flooring, fixtures, a/c, appliances and warranties that keep things simple. Leave your car in the garage and walk to the local café, bakery or coffeehouse. Stroll through the newly remodeled “Heritage Park” or purchase your fresh produce at the Farmer’s Market around the corner. During the week, Metrolink creates a convenient commuting solution and nearby freeway access connects you to employment and city centers in every direction. This is fresh. This is new. This is Citrus Walk.
Citrus Walk is The Olson Company’s fifth new urban living residential development in the Covina area. The Citrus Walk community offers 37 townhomes and 8,000 square feet of new retail space along downtown Covina’s Citrus Avenue, with 12 flats over the new retail storefronts. The townhomes, each with approximately 1,600 square feet and three stories, have 3 bedrooms, 2 baths and 1-2 powder rooms, and 2-car garages.
The homes, built to exceed LEED green living standards, feature energy efficient amenities including Energy Star appliances; water efficient and lead-free faucets; highly water efficient toilets; auto shut-off motion sensors in all baths, space saving tank-less water heaters, and built-in recycle bins, among many other features.
“The Citrus Walk community represents the culmination of years of work with the City of Covina to create a new brand of ‘walkable’ community within Covina’s downtown, offering the best of an in-town lifestyle,” said Steve Olson, Chairman/CEO of The Olson Company. “Located close to shops, restaurants, and MetroLink’s new San Bernardino Express line, Citrus Walk embraces and caters to active lifestyles.”
The Olson Company’s numerous successful urban living developments across Southern California over the last 22 years reflect its commitment to making the homebuyer top priority. The Olson Company has garnered prestigious Eliant Awards in six categories of homeowner satisfaction in 2010, including a number one ranking for the “Design Selection” experience, number two for delivering an incredible experience during the Purchase, Construction, and Customer Service phases, and a number two ranking 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 creating these communities, The Olson Company understands all that goes into buying a new home and provides ongoing tailored services to support the needs of its homeowners, including financial education and the exclusive Homeowner Champion Program.
The Citrus Walk sales center is located at 137 E. Italia Street, Covina, CA 91723. To learn more about Citrus Walk and how you can go take advantage of this opportunity to own new now, please visit CitrusWalk.com.
LEED Certified Townhomes and Flats Now Open for Tours; Grand Opening Event June 25
COVINA, CA. – June 16, 2011 – The Olson Company, the leading developer of in-town urban living, announces the debut of two model homes in its newest residential community, Citrus Walk. Located in the heart of downtown Covina and within walking distance to shops, restaurants, and MetroLink, Citrus Walk will offer affordable, LEED Certified homes that are innovatively designed to fit active, urban lifestyles.
Olson Homes will host its “Rockin’ Grand Opening” event to offer potential residents the opportunity to tour the model homes and experience the Covina community on Saturday, June 25, from 11am to 3pm.
Up and coming local bands will entertain the crowd, including a featured performance by 7Lions, the popular fusion hip-hop, alternative rock, and electronica band. Taco Bell, as well as local eateries Red Devil Pizza, 3 Vino’s, Chad Max, Claro’s Italian Market, Sweet and Savory Café & Bakery, and Casa Moreno will all provide food for the crowd, and there will be exciting carnival games for guests to enjoy.
Citrus Walk is Olson Homes fifth new urban living residential development in the Covina area. The Citrus Walk community will offer 37 townhomes and 8,000 square feet of new retail space along downtown Covina’s Citrus Avenue, with 12 flats over the new retail storefronts. The townhomes, each with approximately 1,580 square feet and three stories, will have 2-3 bedrooms, 2 baths and 1-2 powder rooms, and 2-car garages.
The homes, built to exceed LEED green living standards, feature energy efficient amenities including Energy Star appliances; water efficient and lead-free faucets; highly water efficient toilets; auto shut-off motion sensors in all baths, space saving tank-less water heaters, and built-in recycle bins, among many other features.
“The Citrus Walk community represents the culmination of years of work with the City of Covina to create a new brand of ‘walkable’ community within Covina’s downtown, offering the best of an in-town lifestyle,” said Steve Olson, Chairman/CEO of The Olson Company. “Located close to shops, restaurants, and MetroLink’s new San Bernardino Express line, Citrus Walk embraces and caters to active lifestyles.”
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.
The Citrus Walk sales center is located at 137 E. Italia Street, Covina, CA 91723. To learn more about Citrus Walk please 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, California, 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.
Contributed by: Christopher Callard, Paramount Journal
PARAMOUNT, CA. June 2, 2011—When the City of Paramount purchased and demolished a number of rundown and blighted properties across Orange Ave. from Zamboni School, it went looking for a partner to develop a quality neighborhood of single-family, detached homes on the cleared site.
It was very important to the City that the houses be constructed with the highest quality and best craftsmanship, but also be affordable enough to keep the dream of homeownership within reach of the community’s particular demographics.
Paramount found its ideal collaborator in Olson Homes, a local developer that has specialized in creating innovative and affordable in-town communities in established neighborhoods for over 20 years. The company – recipient of America’s “Builder of the Year” Award – is creating Heritage Walk, the first development of its size and scope in Paramount since the mid-1990s.
“Our company was founded specifically to assist cities in solving the critical shortage of affordable housing in urban areas,” said Scott Laurie, Olson Homes’ President and COO. “Working with the officials in Paramount has been extremely smooth and productive. Everybody has been on the same page from day one, wanting to improve the housing stock with a superior project. It’s very exciting, and Heritage Walk will be a jewel for that part of the city.”
The grand opening for the model home at was held May 14. Not only did hundreds of community members come out to take a tour and enjoy the festive Country Fair theme with food, games and other fun events, but four of the soon-to-be-built homes were sold on the spot.
“The City of Paramount has done a tremendous amount of work and planning over the years to highlight its finest qualities, qualities that are the
epitome of small-town America,” noted Vice President of Forward Planning Allison Kunz Olson. “Heritage Walk, with its 17 homes and tree-lined streets, echoes this feeling and will appeal to a variety of lifestyles and families seeking the right mix of extra space and privacy.”
The homes will be LEED Certified (Leadership in Energy and Environmental Design, an internationally-recognized “green” building certification system). With Spanish-styled architecture, they will offer 3 bedrooms, 2.5 baths, attached 2-car garages, private rear yards and 1,302 square feet of living space.
“Olson Homes’ uniquely designed communities have been a bright spot in the housing market over the last few years,” said Joe Perez, Community Development Director with the City. “The idea of helping cities revitalize themselves with creativity and thoughtful solutions, while making home ownership attainable for a wide number of people, has led to our projects being very successful. Heritage Walk in Paramount is a perfect realization of this goal.
“Everyone in the community is encouraged to visit the site,” Perez continued. “As we like to say, Heritage Walk is where life is ‘paramount.’
And everyone is welcome.”
Visit HeritageWalkParamount.com to see and learn more.
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