My closing date is February 2005 and I picked my colour in January 2004. It is true that they will call you to pick the colour based on who purchased first on the street. They will let you pick three colour choices (1st, 2nd, 3rd). They say that you are pretty much guaranteed your 1st choice unless the colour becomes discontinued for some reason.
The receptionists in the sales centre can tell you which houses are made of which colour if you want to get an idea what a house looks like in that colour selection (rather than just seeing the small display they have in the sales centre). Though, with the new phase/designs, you won't get to see your exact house in the particular colour you are interested in. But, I think it's still a good idea to see a house done in the colour because some bricks have mutliple colours and you don't get the full idea of it unless you see it on a house.
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