2010 Irvine New Home Collection

NEW -> Contingent Buyer Assistance Program
I don't mean less competition as in less people buying... I mean once you decide on a lot that is available and you put your deposit down, there's less "worry" that some FCB or cash-buyer is going to scoop it out from under you.

And with resale, you are basically stuck with what comes available, with no guarantee the exact floorplan you want will appear, with new... you can decide which floorplan you like best and then just make the commitment.

Out of my past 3 homes, 2 were resale and 1 was new... the new one was a better experience as a whole (and the one I still own).

I restricted the search to built in 1990+ and there are only two 4/3 homes less than $800k and 3 total less than $800k. When I take out the year restriction, that number is 9 (I excluded Short Sales from my search).

And you are right about the wait time, but with this market, there is no way you can guarantee what inventory and pricing will be like in 4-6 months.

And as BK once said... there is more price stability when you buy into a new neighborhood because it will take more people to decide what depreciation would be and since the sales were all recent, it will be very hard to go below what everyone else bought at (and most of the new homes have a 1-year clause on resale).
 
[quote author="jumpcut"]
[quote author="Panda "]
I wonder if the HOA for Coronado and Santa Cruz are also at $105?
[/quote]
$105 is the master association dues that is paid by all homeowners in Woodbury. If there is a sub-association, then an additional HOA is paid.[/quote]

I don't see anything about the sub-association on the Carmel and Montecito flyers. Does that mean they do not have a sub-association?
 
[quote author="ck"]
[quote author="new2irvine"]just to clarify - the montecito homes do have their own driveway. the driveway is connected to a shared motor court type thing. i believe the set-up is 4 or 6 homes in each motorcourt (2 homes on each side). the "road" that you would drive out to from your driveway is the motorcourt. From there, you would drive onto a regular street.[/quote]

Wow, though --- almost $800k (plan 3) to live on an alley, where you could probably open your front door and spit to your neighbors front door across the alley. Assuming these homes are geared toward young families, that will be a horrendous set up for front yard socializing and playing....one of the cornerstones of "family" neighborhood.

Curious of the members here....Is it that important to own new to buy into a set up like this? For $800k-$900k (once factoring Mello Roos on new) you could easily get into a 2000+ sq ft resale home in a true SFR neighborhood in somewhere like Oak Creek, Woodbridge, Northwood, Northpark....and so on. Is the draw of new that strong? [/quote]

It is all about trade offs--

Motor Court versus Alley style garages:
With the Montecito style plan what you lose in front door sqft you gain in a private backyard experience. If I had to choose between a motor court versus alley--I like alley style (e.g. Stonetree). It is important for me to have some curb appeal and am willing to sacrifice a backyard given the WB multi park system.

New vs Resale:
As IHO mentioned, there are not a lot of choices in Irvine with recent SFR construction at this price point. New build offers more control over floor plan, lot location, and short term price stability. IMHO, resale will be the way to go in the 2nd half of 2010 and beyond. If Obama (and that is a big if) doesn't further interfere with the RE market...we should see more Irvine REO activity, higher interest rates, and generally more pressure on pricing. How much is the big question.
 
After careful consideration we have decided to go with Los Arobles in Portola Springs. We were waiting for the new collections to open for comparison. I like the floor plans of the new collection and the california room. But I have decided I cannot live with the motor court. Woodbury felt packed to me the first time we drove in, the motor court made it even worse.
 
[quote author="pete423"]
[quote author="jumpcut"]
$105 is the master association dues that is paid by all homeowners in Woodbury. If there is a sub-association, then an additional HOA is paid.[/quote]

I don't see anything about the sub-association on the Carmel and Montecito flyers. Does that mean they do not have a sub-association? [/quote]

No Subs. Subs are only for condos or townhomes.
 
[quote author="ajw522"]
[quote author="pete423"]

I don't see anything about the sub-association on the Carmel and Montecito flyers. Does that mean they do not have a sub-association? [/quote]

No Subs. Subs are only for condos or townhomes.[/quote]


[quote author="ajw522"]
[quote author="pete423"]

I don't see anything about the sub-association on the Carmel and Montecito flyers. Does that mean they do not have a sub-association? [/quote]

No Subs. Subs are only for condos or townhomes.[/quote]

Right.. for Coronado in Woodbury East, it's $134 for the association.

After waiting for about 2 years (see this post: http://www.irvinehousingblog.com/forums/viewthread/2007/) my wife and I have decided to purchase the 4bd/3bath home in Coronado.

The list price is $625K before options and I don't think I can find a better price in Irvine for a 4/3.

While I feel like I should have a driveway, the lot that I chose is right next to the street with the door facing the street and a garden/park across the street (hooray! /sarcasm).

I know this board will probably convince me to change my mind, but I think we are very happy with our decision. Thanks everyone for all the great advice the past 2 years.
 
[quote author="pete423"]After careful consideration we have decided to go with Los Arobles in Portola Springs. We were waiting for the new collections to open for comparison. I like the floor plans of the new collection and the california room. But I have decided I cannot live with the motor court. Woodbury felt packed to me the first time we drove in, the motor court made it even worse.[/quote]

Which plan are you getting?

I liked Plan 2:
http://floorplans.irvinerealtorsite.com/PortolaSprings/LosArboles/LosArbolesB2020.JPG

The homes offer a more traditional SFR feel. You get your own driveway, backyard, and detached living. The big downside to PS is the high MR and some folks don't like the remote location. I like the feel of being closer to the mountains.
 
[quote/]
[quote author="scubasteve"]
[quote author="ajw522"]

No Subs. Subs are only for condos or townhomes.[/quote]



No Subs. Subs are only for condos or townhomes.

Right.. for Coronado in Woodbury East, it's $134 for the association.

After waiting for about 2 years (see this post: http://www.irvinehousingblog.com/forums/viewthread/2007/) my wife and I have decided to purchase the 4bd/3bath home in Coronado.

The list price is $625K before options and I don't think I can find a better price in Irvine for a 4/3.

While I feel like I should have a driveway, the lot that I chose is right next to the street with the door facing the street and a garden/park across the street (hooray! /sarcasm).

I know this board will probably convince me to change my mind, but I think we are very happy with our decision. Thanks everyone for all the great advice the past 2 years. [/quote]

Congratulations! Enjoy your new home.

So are you one of those folks who got pre-approved and are waiting to select your lot?
 
[quote author="IACRenter"][quote/]



No Subs. Subs are only for condos or townhomes.

Right.. for Coronado in Woodbury East, it's $134 for the association.

After waiting for about 2 years (see this post: http://www.irvinehousingblog.com/forums/viewthread/2007/) my wife and I have decided to purchase the 4bd/3bath home in Coronado.

The list price is $625K before options and I don't think I can find a better price in Irvine for a 4/3.

While I feel like I should have a driveway, the lot that I chose is right next to the street with the door facing the street and a garden/park across the street (hooray! /sarcasm).

I know this board will probably convince me to change my mind, but I think we are very happy with our decision. Thanks everyone for all the great advice the past 2 years. [/quote]

Congratulations! Enjoy your new home.

So are you one of those folks who got pre-approved and are waiting to select your lot?[/quote]

Thanks! Yea i was pre-approved and got a call today and was able to pick my lot. I was pretty excited that I got to pick my first choice. I couldn't go to the sales office today because it was my wedding anniversary, but they wanted me to come in tomorrow and drop off a 3% down check...i guess there's no turning back after tomorrow!
 
@scubasteve:

Congrats on finally "settling" down. That IHB thread you posted was interesting as you seemed to initally be interested in Aliso Viejo.

I have some questions that you may or may not be able to answer depending on your level of comfort:

1. Have you looked at resale properties? And if you have, what made you decide to buy at WE instead (a CK question)?

2. Are you using TIC financing or your own? And if you can share, are you going traditional 20%-Fixed or something a bit more exotic (personally... if you can qual for 3.5% FHA... more power to ya'!)?

3. What made you decide to buy in Woodbury East over Woodbury?

@pete423:
Same questions for you but for Portola Springs of course.
 
[quote author=irvinehomeowner board=irvinere thread=189 post=3592 time=1263231287]@scubasteve:

Congrats on finally "settling" down. That IHB thread you posted was interesting as you seemed to initally be interested in Aliso Viejo.

I have some questions that you may or may not be able to answer depending on your level of comfort:

1. Have you looked at resale properties? And if you have, what made you decide to buy at WE instead (a CK question)?

2. Are you using TIC financing or your own? And if you can share, are you going traditional 20%-Fixed or something a bit more exotic (personally... if you can qual for 3.5% FHA... more power to ya'!)?

3. What made you decide to buy in Woodbury East over Woodbury?

Hi IH,

I originally looked at AV back then because Irvine prices were outrageous at the time.

1) I have not actively looked at resale properties (mainly just browsing ziprealty and redfin) and they were all priced higher for similar sqft and rooms...

2) Right now I'm only required to put down a 3% deposit, but I will put 20% when it's required. I haven't decided on whether or not to use TIC financing, which is just BAC. I'm still looking around right now...

3. I chose WE mainly because it was about 100K cheaper than WB. The MR is a bit lower too since TIC is subsidizing in WE (I don't think they are in WB, but I could be wrong).
 
[quote author="scubasteve"]
[quote author="ajw522"]

No Subs. Subs are only for condos or townhomes.[/quote]



No Subs. Subs are only for condos or townhomes.[/quote]

Right.. for Coronado in Woodbury East, it's $134 for the association.

After waiting for about 2 years (see this post: http://www.irvinehousingblog.com/forums/viewthread/2007/) my wife and I have decided to purchase the 4bd/3bath home in Coronado.

The list price is $625K before options and I don't think I can find a better price in Irvine for a 4/3.

While I feel like I should have a driveway, the lot that I chose is right next to the street with the door facing the street and a garden/park across the street (hooray! /sarcasm).

I know this board will probably convince me to change my mind, but I think we are very happy with our decision. Thanks everyone for all the great advice the past 2 years. [/quote]

Which plan did you purchase -- Coronado doesn't offer a 4 bedroom plan.
 
[quote author="ajw522"]
[quote author="scubasteve"]
After waiting for about 2 years (see this post: http://www.irvinehousingblog.com/forums/viewthread/2007/) my wife and I have decided to purchase the 4bd/3bath home in Coronado.

The list price is $625K before options and I don't think I can find a better price in Irvine for a 4/3.
[/quote]
Which plan did you purchase -- Coronado doesn't offer a 4 bedroom plan.[/quote]
The Coronado Plan 2 has an option to change the den into a 4th bedroom (adding a shower to the storate area that was in the laundry room beside the powder room).
 
[quote author="irvinehomeowner"]
[quote author="ajw522"]
Which plan did you purchase -- Coronado doesn't offer a 4 bedroom plan.[/quote]
The Coronado Plan 2 has an option to change the den into a 4th bedroom (adding a shower to the storate area that was in the laundry room beside the powder room).[/quote]


That's correct. The only thing I wish plan 2 had was an upstairs master bedroom, but I can compromise with having the extra bed/bath and street entrance..
 
So out of the 2010 Collection, is Montecito the only one with the models actually open or are they all open?

(everytime I see 'Montecito', I'm reminded of that 'Las Vegas' tv show)
 
[quote author="scubasteve"]

HOA: $134 (1 association)
Tax 1.5% (TIC is supposed to subsidize mello roos and bring it down to about $2975/year).
[/quote]

Few questions.

1. Are they subsidizing the HOA? Seems pretty cheap (or is this just because they are SFR's instead of the condos of Ivy?)
2. What would Mello Roos be without them subsidizing it?
3. Is the subsidizing on Mello Roos permament or just for X amount of years?
 
[quote author="25inIrvine"]
[quote author="scubasteve"]

HOA: $134 (1 association)
Tax 1.5% (TIC is supposed to subsidize mello roos and bring it down to about $2975/year).
[/quote]

Few questions.

1. Are they subsidizing the HOA? Seems pretty cheap (or is this just because they are SFR's instead of the condos of Ivy?)
2. What would Mello Roos be without them subsidizing it?
3. Is the subsidizing on Mello Roos permament or just for X amount of years?[/quote]

Coronado is a SFR so you only have to pay for the master association.

The sales office has told me that TIC is buying back the bond so I think it will be lower for the entire 30 year period. I do get worried though because all the information in their sales office still lists property tax at 1.8% and they have only verbally told potential buyers that it should go down to 1.5% and that they can't print it on their documents until it's official.

Anyways, I just came back from the sales office and put down my 3% deposit. I guess I still have until Sunday to back out since that's when I'll be signing the contract.
 
[quote author="martymcfry"]Does anyone have the pricing info (including HOA and taxes) for Santa Cruz?

Thanks![/quote]

It's the same as Coronado:

HOA: 134
MR: about 3000/year (if what I'm hearing from the sales agents are
true and that TIC is subsidizing it; if not then i think it's around 4800)
 
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