Please read our FAQs for any questions you may have about The Redwoods and Dividend Homes. If you need additional information please contact us.
The Redwoods community consists of 33 attached residential townhomes and associated common areas and open spaces. The Redwoods at Montecito community will be developed in two California Department of Real Estate (DRE) phases on Tract Map No. 10525. The first phase consists of 24 homes (lots 1-17 and lots 27-33) and the second phase consists of 9 homes and common areas (lots 18-26 and common areas A & B).
The homes that are completed and have pre-selected options and upgrades already installed can close within a month or less from when the purchase contract is signed. For those homes that are not yet completed, Buyers may select their own options and upgrades, with closings typically occurring 3 to 5 months from the date the purchase contract is signed.
Yes. To be eligible to purchase a home, you must be pre-approved by one of our preferred lenders. Our preferred Lenders are:
Yes, however, we require a pre-approval from one of our preferred lenders to purchase a home.
There is a sales process that has been established. For more details, please contact the community Sales Representative.
The initial earnest money deposit at time of contract is 3% of the purchase price. If you do select any upgrades, a deposit of 50% of the total cost of these upgrades is required at the time of the order, with the balance due upon the residence’s completion.
There are a total of 13 guest parking, 1 of which is designated for handicap parking. These spaces are not assigned and are to be available primarily for guests, on a first-come, first-serve basis. Residents are to park within their garages. Parking within Scarlett Terrace, the private interior street within the Redwoods at Montecito community, is prohibited. Please refer to the Redwoods at Montecito CC&Rs for further details regarding parking restrictions
The model homes will not be sold until the entire community is sold out. Once the community is sold out the model homes will be released.
The model homes showcase a combination of standard, upgraded, and designer features and finishes. Please refer to the Standard Features List which can be found on the website or consult with your Sales Representative for further details.
The Redwoods community is in the Mountain View Whisman School District and Mountain View Los Altos High School District. The Districts advise that children residing at Redwoods at Montecito are currently assigned to attend the following schools:
For those homes located in DRE Phase 1, HOA dues are currently estimated at $250 per Lot per month. Following the first close of escrow in DRE Phase 2, the HOA dues are estimated to be approximately $407 per Lot per month. Prior to project completion, the dues are based on the number of homes then included in the HOA and the amenities that have been completed and turned over to the HOA.
The HOA dues cover the costs of owning and maintaining the project common area, including common area landscape, private streets, HOA insurance, reserves, property damage insurance including “walls-in” (refer to section 8.3 of the Redwoods at Montecito Declaration of Restrictions (“CC&Rs”) for specifics regarding the Association’s Property Insurance), and partial maintenance of the home exteriors and roof. A full breakdown of the HOA maintenance responsibility is listed in the Redwoods at Montecito CC&Rs. Please refer to Article IV and Exhibit B to the CC&Rs for further detail.
The broker referral fee is 2.5%. The broker/agent must accompany their client on their first visit to the community sales office in order to receive a referral fee. At the time of the potential buyer’s first visit to the sales office, the broker/agent must fill out the Broker/Agent Registration Form. This registration form will be kept on file and validates that the broker/agent has registered the buyer as their client. Note: If the buyer has visited the sales office prior to the broker/agent’s first visit with them, the broker/agent will not be allowed to register this buyer as their client.
