3 New California Pacific Communities in Portola Springs Late 2021

[CalBears96]

Hopefully.  A quarter point is not so bad, but considering that we started talking about 2.65 and now being at 3%, don?t want to end up being a full point higher when it does come time to setttlement.

Should have jumped on the Fresco last year when they were around 1.4M I think.  Couldn?t wrap my head around spending over a mil for 2500 sq ft being new to the area at the time.

My brother-in-law started looking late 2019 and asked to consider moving to OC too since we both live in Eastvale and work in Irvine. But back then I never even thought about moving even though my commute from Eastvale and Irvine really sucks. Maybe I should have listen to him. But then again, we didn't really want to move before our son finished high school.

They could have got some nice homes, like $1.3M for Ravello 4 in OH or Barcelona, but my sister was either too picky or tried to low ball them, so they ended up not getting anything for 2 years. They finally bought at The Oaks at Portolla Hills in Lake Forest in Oct/Nov. At least, it's a huge home, 4100 sq. ft for $1.6M, and no MR.

 

[bkimxmd]

We?ll see.  Gotta talk to him this week.  I did get it locked in at 3%.  Gotta a call from him and he said we were at 86 days so we should lock since the rates are starting to go up.  Now I?m outside the 90 day again.  Don?t know how it?s going to be affected yet.  Never locked in a rate that early before.

Last time I drove by, a lot of the roof was on.  Some of the 1st 6 already had their solar panels on.

If the roof is on, they can work inside even if it's not the best weather. Maybe they have a lot of sickouts due to covid slowing things down.

True.  Contractors being sick and supplies on back order plus the heavy rain.  Gotta imagine there?s a boat load of factory workers calling out sick or having to quarantine due to COVID. 

The move in delay doesn?t bother me much just concerned about the rates going up.  It already changed twice since I went through the preapproval. 

I think this is worse than the auto industry.

Calbear, did you grow up in NorCal?

No, I went to high school in Pasadena, then went to Berkeley as EECS major and started working in Silicon Valley after I graduated. Moved back to SoCal in 2006 and have been here since.

I see.  I lived in San Ramon for almost 2 years before I moved down here.  Not a fan of norcal at all.

 

[Irvinehomeseeker]

We?ll see.  Gotta talk to him this week.  I did get it locked in at 3%.  Gotta a call from him and he said we were at 86 days so we should lock since the rates are starting to go up.  Now I?m outside the 90 day again.  Don?t know how it?s going to be affected yet.  Never locked in a rate that early before.

Last time I drove by, a lot of the roof was on.  Some of the 1st 6 already had their solar panels on.

If the roof is on, they can work inside even if it's not the best weather. Maybe they have a lot of sickouts due to covid slowing things down.

True.  Contractors being sick and supplies on back order plus the heavy rain.  Gotta imagine there?s a boat load of factory workers calling out sick or having to quarantine due to COVID. 

The move in delay doesn?t bother me much just concerned about the rates going up.  It already changed twice since I went through the preapproval. 

I think this is worse than the auto industry.

Calbear, did you grow up in NorCal?

But if the stock market starts really selling off before you move in, rates might go down.

Hopefully.  A quarter point is not so bad, but considering that we started talking about 2.65 and now being at 3%, don?t want to end up being a full point higher when it does come time to setttlement.

Should have jumped on the Fresco last year when they were around 1.4M I think.  Couldn?t wrap my head around spending over a mil for 2500 sq ft being new to the area at the time.

I am sure a lot of us in the same boat with Fresco during its initial phases...we kept passing it up as  1.4M looked like an insane price for the ~2100 sqt plan 1 starter.

 

[Ready2Downsize]

The house I'm buying has had the base price go up 66% in a year and a half (and I haven't even got my appointment to pick options yet which means I'll hit another price increase). But the house I own has gone up too (not that much % wise but fortunately it's more than the one I want to buy so it's working for me).

I just read 45000 people in LA county tested positive for Covid today which by my calculation is 1 in 222 (just today). I would imagine that means less dockworkers, less truckers to deliver supplies, less construction workers (some have to stay home due to no daycare for sick kids or daycare workers).

 

[bkimxmd]

The house I'm buying has had the base price go up 66% in a year and a half (and I haven't even got my appointment to pick options yet which means I'll hit another price increase). But the house I own has gone up too (not that much % wise but fortunately it's more than the one I want to buy so it's working for me).

I just read 45000 people in LA county tested positive for Covid today which by my calculation is 1 in 222 (just today). I would imagine that means less dockworkers, less truckers to deliver supplies, less construction workers (some have to stay home due to no daycare for sick kids or daycare workers).

Yeah this variant is crazy.  About half of my shop techs, accounting staff, and a few sales consultants right after Xmas. 

My kids? class at Northwood Montessori has been shut down since Friday.  One of the kids tested positive and the school says everyone one in the class was in contact with him/her.

 

[Irvinehomeseeker]

The house I'm buying has had the base price go up 66% in a year and a half (and I haven't even got my appointment to pick options yet which means I'll hit another price increase). But the house I own has gone up too (not that much % wise but fortunately it's more than the one I want to buy so it's working for me).

I just read 45000 people in LA county tested positive for Covid today which by my calculation is 1 in 222 (just today). I would imagine that means less dockworkers, less truckers to deliver supplies, less construction workers (some have to stay home due to no daycare for sick kids or daycare workers).

Yeah this variant is crazy.  About half of my shop techs, accounting staff, and a few sales consultants right after Xmas. 

My kids? class at Northwood Montessori has been shut down since Friday.  One of the kids tested positive and the school says everyone one in the class was in contact with him/her.

I know different topic - We got an email that s student in my daughter's class in Eastwood elementary tested positive, but no further action besides check for symptoms if any. The school days since mask wearing was in effect, the risk is very low to others in class. 

 

[CalBears96]

I see.  I lived in San Ramon for almost 2 years before I moved down here.  Not a fan of norcal at all.

I liked living in the Bay Area more than SoCal.

 

[CalBears96]

Yeah this variant is crazy.  About half of my shop techs, accounting staff, and a few sales consultants right after Xmas. 

My kids? class at Northwood Montessori has been shut down since Friday.  One of the kids tested positive and the school says everyone one in the class was in contact with him/her.

Fortunately, so far, the symptoms are very mild.

But even my company panicked a little bit. On New Year's Eve, we got an email that when we came back to the office on 1/3/22, we would need to get the quick test kit outside entrance, then do the test in our car. If the test is negative, then take a photo of the test and use it along with the daily pass app for the rest of the week. If the test is positive, then we go home and order the full kit to test again. To me, that was a stupid decision. Why not just say, "Work from home for 2 weeks and wait for further instruction."? I mean, we worked remotely for 3 months back in March 2020 before going back to the office 25%, then 50%, and finally full shift.

So needless to say, even with the quick test, we still got a few cases every day, even though we're 97% vaccinated. We have the fully vaccinated and now booster mandate. And because of these cases, starting Monday, we're going back to 50% shift for 1 month and see what happens.

 

[bkimxmd]

The house I'm buying has had the base price go up 66% in a year and a half (and I haven't even got my appointment to pick options yet which means I'll hit another price increase). But the house I own has gone up too (not that much % wise but fortunately it's more than the one I want to buy so it's working for me).

I just read 45000 people in LA county tested positive for Covid today which by my calculation is 1 in 222 (just today). I would imagine that means less dockworkers, less truckers to deliver supplies, less construction workers (some have to stay home due to no daycare for sick kids or daycare workers).

Yeah this variant is crazy.  About half of my shop techs, accounting staff, and a few sales consultants right after Xmas. 

My kids? class at Northwood Montessori has been shut down since Friday.  One of the kids tested positive and the school says everyone one in the class was in contact with him/her.

I know different topic - We got an email that s student in my daughter's class in Eastwood elementary tested positive, but no further action besides check for symptoms if any. The school days since mask wearing was in effect, the risk is very low to others in class.

I?m hearing from friends and family back in Maryland that some of their schools are shutting down and going back to virtual.

 

[usctrojancpa]

Happy Wife, Happy Life.

Trust me, you'll hear about it for a long time to come if you don't have it.

Kitchen is her domain, so whatever she wants she gets. I mean, you spend so much money upgrading the countertops, back splash and cabinets, so it's really an eyesore having the fridge sticking out.

In fact, I leave all the upgrades to her for the entire house. I just write the check.  ;D

Smart man. LOL!

Not only that but kitchens are big drivers for resale. I tell my new home buyers to spend their money on the living area, kitchen, master bedroom, and master bathroom because that has the biggest bang for the buck.

 

[usctrojancpa]

Attached is the Sierra pricing for Phase 2.

 

[CalBears96]

Wow, 2Y is $1.71M. That means 2X is going to be $1.75M to $1.8M.

 

[usctrojancpa]

Wow, 2Y is $1.71M. That means 2X is going to be $1.75M to $1.8M.

Over $2m with view lot premiums.

 

[CalBears96]

Wow, 2Y is $1.71M. That means 2X is going to be $1.75M to $1.8M.

Over $2m with view lot premiums.

Likely, considering first 2X we see will be in phase 4. But I figured view lot premium is only about $100k.

I'll say it again, if I had to spend $2M, then I would rather go buy Ravello in OH.  ;D

 

[bkimxmd]

Attached is the Sierra pricing for Phase 2.

Geez, lot 63 must be on a decent lot.  it's around a 34k increase from the phase 1 plan 3's. 

*** nevermind.. its 3 houses down from ours.  Doesn't look like a bigger lot.

 

[jomama229]

Over $2m with view lot premiums.

new to this forum, but have been looking at properties in irvine for a little while now. so you think view lot premiums will be in the $150-250k range?

 

[usctrojancpa]

Over $2m with view lot premiums.

new to this forum, but have been looking at properties in irvine for a little while now. so you think view lot premiums will be in the $150-250k range?

Depends on the view and how big the lot will be.

 

[jomama229]

Depends on the view and how big the lot will be.

i was thinking hypothetically - that is, if all else held the same (same model, similar sized lot), one lot being interior and another having a view (e.g., the homes in phase 2 vs. phase 4), what would that "view" be worth in lot premium? $50k? $100k? $200k?

 

[usctrojancpa]

Depends on the view and how big the lot will be.

i was thinking hypothetically - that is, if all else held the same (same model, similar sized lot), one lot being interior and another having a view (e.g., the homes in phase 2 vs. phase 4), what would that "view" be worth in lot premium? $50k? $100k? $200k?

Depends on how good the view would be but I'd say at least $100k and higher.

 

[YLgirl]

First time homebuyer here, moving down to Irvine from NorCal to be closer to my family. I am looking to purchase a townhome (Plan 2 or 3) at Lapis. I am a big fan of the Portola Springs area but unfortunately the other developments are getting out of my price range (such as Sierra). Do you think Lapis will hold its value/increase in value in the next few years? I know this is hard to predict, but I am hoping to live here for a few years and then eventually either sell and move into a larger home or turn it into an investment property.

I've been waiting for prices to stabilize or fall for the last couple of years and am worried if I don't get in now, I will be out of luck, especially in the Irvine area.