BRETTON WOODS UPDATE
May 8, 2020
This is the promised follow-up to my April 21 st Newsletter.

In cooperation with the Northern California K. Hovnanian staff, we’ve created a plan to demonstrate Davis’ significant demand for an Aging-In-Place neighborhood.
 
As you can imagine the sales of new homes have plummeted. The national builders fear of the unknown and unintended consequences of the virus is rampant. Obviously, like all us they want to be optimistic, but the pending realities of a USA self-inflicted recession are here and concerning.
 
Ultimately, K. Hov’s decision to commit tens of millions of dollars for infrastructure and land are made at its east coast headquarters. In K. Hov’s case, it’s in New Jersey a state with the second most Covid-19 cases.

Our Plan is Straightforward:
Demonstrate that Davis offers a significant number of active adult buyers ready, willing and able to purchase a new aging-in-place home.

How?
Turning your informal “commitments” into “pending” escrows with a $5,000 FULLY REFUNDABLE deposit. This process is regularly permitted by the California Department of Real Estate. It’s called a “Pink Preliminary Public Report because its printed on “pink” paper.

The law allows builders a pre-contract approach as long as the buyers’ funds are deposited to an independent escrow account and the escrow can be canceled by the buyer AT ANYTIME with the deposit returned to the depositor within five (5) business days.
 
In our case, the independent escrow will be with First American Title Company. First American will deposit all funds into its Bretton Woods Buyers Account at First Northern Bank, Davis office.  No one but you as the depositor and First American will have access to your deposit.
 
Your $5,000 will bear interest at the rate of one percent (1%) per annum which is much higher than what banks now offer customers. Whoever thought we would see a time when one percent on what amounts to savings account is a good deal!
What are the Mechanics for the Pink Report Process and Your Deposit?
 We will be contacting you in about two weeks in groups of 10 via E-mail initially based on your commitment number.
Anytime during the paperwork process or now for that matter, you will have an opportunity to speak with one of our staff or myself to answer your questions. Please E-mail me at david@taormino.org or call me at 530.231.5519 with questions in the interim.

What to Expect Next:
Access the final site plan with street names and lot numbers for each category of homes. 
Shortly, you will be sent the latest Greenway plan.  Only one Greenway plan has changed .
You can begin your decision making now by deciding on the plan and general lot locations so when we can officially take deposits, you’ll be ready.

Here are the homes each neighborhood offers:
GREENWAY HOMES
Approximate Square Footage: 1405
Bedrooms: 2 Master Suites
Baths: 2.5
Other Spaces: Small Office, 2 Courtyards, Laundry Space
Garage: 2 car
Available Options: Second Floor Activity Room or Caregiver Suite
Estimated Price: $595,000 – $625,000
Approximate Square Footage: 1439
Bedrooms: 2 Master Suites
Baths: 2.5
Other Spaces: Den, Courtyard, Laundry Space
Garage: 2 car
Available Options: Second Floor Activity Room or Caregiver Suite
Estimated Price: $615,000 – $635,000
Approximate Square Footage: 1551
Bedrooms: 2
Baths: 2.5
Other Spaces: Den, 2 Courtyards, Laundry Room
Garage: 2 car
Available Options: Second Floor Activity Room or Caregiver Suite
Estimated Price: $660,000 – $685,000
Approximate Square Footage: 1685
Bedrooms: 2
Baths: 2
Other Spaces: 2 Courtyards, Laundry Room
Garage: 2 car
Available Options: Powder Room, Second Floor Activity Room or Caregiver Suite
Estimated Price: $715,000 – $725,000
Approximate Square Footage: 1862
Bedrooms: 2
Baths: 2.5
Other Spaces: Den, Courtyard, Laundry Room
Garage: 2 car
Available Options: Second Floor Activity Room or Caregiver Suite
Estimated Price: $765,000 – $785,000
BUNGALOW HOMES
Approximate Square Footage: 1225
Bedrooms: 2
Baths: 2
Other Spaces: Laundry Room, Covered Patio
Garage: 2 car
Estimated Price: $515,000 – $545,000
Approximate Square Footage: 1337
Bedrooms: 2
Baths: 2.5
Other Spaces: Laundry Room, Covered Patio
Garage: 2 car
Estimated Price: $575,000 – $595,000
COTTAGES HOMES
Approximate Square Footage: 1120
Bedrooms: 2
Baths: 2
Garage: 1 car oversized
Available Options: Storage/Laundry, Powder Room, HovHub
Estimated Price: $525,000 - $535,000
Approximate Square Footage: 1180
Bedrooms: 2
Baths: 2.5
Garage: 1 car oversized
Estimated Price: $535,000 - $545,000
Important Dates:
Your Resale Homes:
Predicting the Marketplace in 2021
 A report and analysis to you in about 10 days.

We’ll have an analysis prepared in cooperation with a cadre of well-respected local realtors in order to "predict the Davis marketplace in 2021 based on our collective experiences.
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