About Wildflower - Wildflower at Park Circle

WATCH THE VIDEO BELOW
TO LEARN MORE ABOUT BUYING A HOME AT
WILDFLOWER AT PARK CIRCLE

Video Transcript (click to open)

Hi!

My name is Jefi Moultrie and I am one of the sales people at Wildflower for Park Circle…a Valley Center project.

I wanted to take a moment to explain to you, a few of the details that are involved in purchasing our homes.

We are selling 52 houses of which 50 are affordable homes. What that means is that there will be income requirements for you to be able to purchase those 50 of the 52 homes.

We’ll talk about that down below.

The next thing is “equity share.” If at any point of time in the first ten years you sell your home, a portion of your equity will go back to the County for subsidizing the cost…the low cost…of your purchase price.

So for example, in year one, between one and two, you, when you sell your home, will owe 50% of your equity back to the County. Every year it becomes 5% less and then ends on the 10 year mark.

Lastly, you cannot rent this home. You have to live in it. It has to be owner-occupied for the first ten years. After the ten years, you can do anything you like. But those first ten years, you have to be owner-occupied.

Now we all know that you’re going to have many questions and we’re here to answer them! But to help us help you, can you please fill out the information below so that when we call you, we know what to address.

Thank you so much for your time and we look forward to talking to you soon.

BUYING A HOME AT

Wildflower at Park Circle

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Income Requirements

Buying a Wildflower home means that you and your family qualify for affordable housing based on the AMI (area median income) for San Diego County.

The median income is the income amount that divides a population into two equal groups, half having an income above that amount, and half having an income below that amount. It may differ from the mean (or average) income.

See the chart below for the gross annual income limits. If your family makes more than the limit, you do not qualify.

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Owner Occupied

Homes at wildflower are required to be owner occupied for the first ten years and cannot be used as rental properties or second homes.

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Equity Share

If you sell your home at Wildflower within the first ten years, you must sell it for the fair market value and share the equity with the County of San Diego.

FAQ

How much will the homes cost?

We do not have final pricing yet. Many factors are involved with determining the price, including coordinating with the County of San Diego. As soon as we have that information, we will let everyone on our list know.

When will the homes be ready?

Our first phase of homes will be 16 Primrose (semi-attached row homes) models and they’re expected to be released in Fall 2021. The second phase of homes will include Poppy models and is anticipated in Spring 2022.

When can I visit Park Circle?

The Park Circle community plans a Summer 2021 opening. We will send an email to everyone on our list when we have firm dates.

How much money will I need for closing costs?

Closing costs can vary depending on the type of loan you are getting. You will need to have between $26,000 and $37,000 to close on one of the Wildflower homes. If you are getting a VA loan, your out-of-pocket costs will be much lower.

Will there be model homes to visit?

No. Because the Wildflower neighborhood is only 52 homes, we will not have models available to walkthrough. We anticipate having our sales office on-site in Summer 2021. At that time, you will be able to make an appointment to learn more about the homes, view lots and see video walkthroughs.

Do the homes have yards?

Primrose, our row homes, have a spacious front patio. Poppy, our single family detached homes, have a side yard and front patio.

Are there HOA fees?

Yes. These fees cover all amenities at Park Circle (recreation centers, pools, and parks) and landscape maintenance of the common areas and front yards. The monthly fee is expected to be approximately $316 (subject to change).

Is there a Mello Roos?

Yes, there is. It is paid for through your property taxes. 1.25% is the current average property tax base and Park Circle will have a tax base of 1.7%-1.8%. The Mello Roos covers new roads, schools, fire departments, etc.