Orange County Register

This is a summary of information from a K. Hovnanian Homes statement to the media. Please tell us what you think using this blog’s comment feature.

K. Hovnanian Homes has reduced prices to start in the low $300,000s and is offering incentives worth up to $35,000 on its Avenue One urban living project in Irvine, the company stated in a media release. Hovnanian is also offering $5,000 to those who refer a friend who closes escrow on one of the condos.

The statement says the homes are selling fast.

Prospective homebuyers who want to explore the options at Avenue One are invited to the company’s “VIP Holiday Social” from 11 a.m. to 3 p.m. Dec. 8. The sales office and models are open Monday from 1 p.m. to 6 p.m. and Tuesday through Sunday from 10 a.m. to 6 p.m. Info: 949-975-8545 or www.Khov.com.

The urban-type neighborhood is at the intersection of Jamboree and Dupont near the I-5 and I-405 freeways and local toll roads. Eight floor plans range from about 602 to 1,538 square feet of space, with one and two bedrooms and one to two bathrooms, including several one-bedroom/one-bathroom designs. A selection of fourth-floor homes offers a loft.

Residents have immediate access to private, on-site recreation and opportunities to pursue carefree living close to home. Avenue One currently offers a fitness center and indoor sport court, and once the seller no longer undertakes sales efforts, residents will have access to additional amenities at the elegant clubhouse that includes a media lounge with plasma screen, conference room, executive business center and a catering-sized kitchen. A junior Olympic-sized swimming pool, spa, bocce ball area, outdoor fire pit, tot lot, and alfresco dining areas with barbecues are also open, popular areas to mingle with friends and neighbors.

Here are the legal disclaimers verbatim from Avenue One’s media statement:

*Incentive amounts are available to satisfy payment of HOA dues, third-party closing costs, fees and expenses related to financing arranged by K. Hovnanian American Mortgage, and other expenses or uses depending on the specific home; but in all events, receipt of this incentive is predicated upon buyer executing standard purchase agreement on or before December 31, 2007, is contingent upon close of escrow, may not be used to satisfy any earnest money, down payment or other deposit requirement (including for options and upgrades) and may not be paid to buyer in cash. Please see Sales Consultant for specific opportunities, uses, terms and conditions.

Please see a Sales Consultant for information about pricing, product availability, facilities and their related amenities, including completion dates, all of which are subject to change.

**$5,000 referral fee paid only upon the referred party’s close of escrow. Referral card must be executed and registered with Sales Consultant on first visit to community by referred party. K. Hovnanian® Homes reserves the right to withdraw or change the Referral Program without prior notice. Referral is only available at Avenue One by K. Hovnanian Homes. Not valid with any other offer, discount, special or broker commission.

A 3% Broker Co-Op is offered if buyer executes our standard purchase agreement on or before December 31, 2007 and closes no later than January 31, 2008. Brokers are required to register their clients on their first visit and execute Seller’s Broker Co-Op agreement. K. Hovnanian Homes reserves the right to withdraw or change the Broker Co-Op program without prior notice. Please see a Sales Consultant for details.

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