Auburn at Stonegate by Richmond American

NEW -> Contingent Buyer Assistance Program
Risky to buy over $420 before upgrades?  That's going to be hard to do anywhere in Irvine for a new build after picking out upgrades or even doing after the fact.

MFWIC said:
Plan 4 is actually very nice.  All the bedrooms upstairs has its own balcony. 
As for Plan 2X - There are going to be 14 of them.  Which is the majority of the Plan 2.
The model they will have is currently listed as a Plan 2 which is a bummer.  However they did put a side note saying they might make the model a 2X.
With the sunken courtyard the basement won't really feel like a true basement which is a good thing.  You will have natural lighting in the day and fresh air.  If you work in an office building all day, it doesn't feel very good, not a good way to spend a lot of time at home.  I don't think the Plan 2X can justify the $400/sqft though.  These lots were possibly for Shea as an extension to their Sausalito which didn't sell too well and were heavily discounted on the last few remaining homes.  They ranged in 3,500 - 4,218 sqft. 
61 Interlude was listed at $1.7 million range and it sold for $1.5 I believe and they were giving $50k broker commission and included $80,000 upgrades into that house.  I was looking into that one last year. 
Also there was a Plan 3 Sausalito with a huge backyard the size larger than a full basketball court and it only sold for $1.55 I think.  It was opposite to the Model Homes.  The Sausalitos had low ceiling height compared to many of the houses.  These plans look like they are going to be the same 8' ceilings as well.

It is risky to me to buy any property over $420/sqft.
The Lafayettes are priced from $450 to $415/sqft from Plan 1 to Plan 3 respectively.
I wonder how they are going to price the Auburns.

I am also curious about any potential problems with water leaking through the walls in the basement.  I own commercial buildings and have to deal with these problems.  If water doesn't drain properly from ground, it can leach through because these walls are not tiltup slabs and the joints will always come through eventually.
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Yes.  I've been waiting patiently and something is going to happen soon enough.

You have to think "when I sell, how much will the next buyer pay?"  These are nearly the peak prices before the mortgage meltdown.  Are prices going to be $450 or even $500 a sqft?  When you buy think about how much additional money you will have to spend adding upgrades and landscaping.  From what I hear the FCB are dwindling down.  Who else is left to prop the prices up?

FranchisePlr said:
Risky to buy over $420 before upgrades, right?
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While I generally agree that Irvine homes are probably on the high side of fairly valued, would argue that there are some limitations to looking at strictly price/ft.  View lots, large lot relative to size of house, non-thru streets etc can drastically change that valuation. 

Think at this point, there has been a good amount of builder cost inflation, unsure how that plays out over time.  Lastly, would add that higher rates will impact housing, from a investment standpoint (relative yields) as well as affordability, probably a little less so on the low end given replacement costs, but I just purchased in BP and wouldn't be surprised to see transactions in 10 years go across at levels that are flat or even down. 
 
Congrats on your purchase LongIrvine.  BP is a very nice neighborhood.  Homebuying is very much an emotional experience and you are correct that it is not always a numbers game. 
 
Price per square foot is just one of dozens of considerations. It should never be singled-out as definitively identifying whether or not any home is priced "right."
 
MFWIC said:
Congrats on your purchase LongIrvine.  BP is a very nice neighborhood.  Homebuying is very much an emotional experience and you are correct that it is not always a numbers game. 
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When it comes to basements in California, I get emotional.  :)


Shut-up-and-take-my-money.jpg
 
MFWIC said:
Congrats on your purchase LongIrvine.  BP is a very nice neighborhood.  Homebuying is very much an emotional experience and you are correct that it is not always a numbers game.
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BP is a ghost town?
Numbers is important to me.

 
iacrenter said:
When it comes to basements in California, I get emotional.  :)


Shut-up-and-take-my-money.jpg
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I believe certain Polish race car driver uses this meme as his avatar at some Porsche forum. :)



 
I think the basement thing is cool... if only one of these had a 3rd (or 4th) garage.

You have all this space for people, but not for their transportation. What happens when my kid(s) start driving, where are they going to park?
 
I was mesmerized by the amount of space until it was mentioned there's only 2 car garage.  Geez... I know I've seen resales with half that size that has 3 car garage
 
aquabliss said:
In Foothill ranch you can get a 2,000 sq ft home with 3CWG:https://www.redfin.com/CA/Lake-Forest/31-Montecilo-92610/home/4799584
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Northwood & Westpark have some smaller homes that are 3 car garages as well.  They definitely exist. High ceilings too so if you really wanted to, you could put in a loft and take a 2000-2300 sq ft place and presumably add 250-350 sq foot by putting in a loft or bedroom where the high vaulted ceilings were (not sure if people do this often or not). 
 
I thought the Gables plan 4 with basement in Columbus Square had a 3 car garage. This place should also offer that as standard for such a large home.
 
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