Baker Ranch in Lake Forest / Foothill Ranch

[socal78]

How strict are they on signing in at BR? I've been unable to make my appointments. Thinking about popping in on my own before officially registering. I can always give my Middle Name + Maiden Name. Do they check ID?

 

[irvinehomeowner]

@SoCal:

Are you really considering buying at BR?

Is it the new home smell?

I just think that Foothill Ranch is a better value/location/floorplan choice.

 

[bones]

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[bones]

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[NASCAR24]

The Knolls are detached condos with zero lot lines.

 

[Irvinecommuter]

The Knolls are detached condos with zero lot lines.

This really make no sense to me considering how much land BR has to work with.  I mean I get the desire to make as much money as possible but BR needs have bigger lot sizes/yards to make it more appealing than Irvine.  That's one of the bigger selling points at PP.

 

[qwerty]

Didn't know this but apparently Knolls is zero lot line.  Ridgewood is SFR.

They claim knolls is SFR. It is SFR zero lot line or a detached condo?

Is there a shared ownership in anything such as a motor court? If there is then it's a detached condo. If there is no shared ownership amongst the owners it would not meet the definition of a condo

 

[bones]

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[NASCAR24]

Not sure what parts of the Knolls are shared ownership.  There's a reciprocal land use easement (zero lot).  This is the portion of the side back yard in your neighbor's yard (along the side of your house), which your neighbor doesn't own.  I believe but not sure it's actually owned by you but your neighbor uses it since it's in their yard.  In the purchase contract Knolls is referred to as "condo".

 

[Irvinecommuter]

The Knolls are detached condos with zero lot lines.

This really make no sense to me considering how much land BR has to work with.  I mean I get the desire to make as much money as possible but BR needs have bigger lot sizes/yards to make it more appealing than Irvine.  That's one of the bigger selling points at PP.

But these are selling well (according to reports).  I think people are willing to look past the zero lot line for your own driveway on a standard street at that price.

I am beyond trying to figure out what people like or don't like.  I know I didn't like the layout of the Knolls even without the zero lot thing.  If I were on the fence about it, the zero lot would definitely be a deal breaker. 

The Knolls seems pretty close to Jade Court in size and type...is there that big of a price difference?

 

[Eric9610]

So what are everyone's thoughts on what Shea will do knowing that they could not sell out Ridgewood's partial first phase.  Will they keep trying to push pricing and just take 4-5 years to sell everything out or will they go to the city and try to get more Knoll's product approved as there is obviously more demand at that price point? 

Shea is a public company and doesnt have the luxury of waiting 4-5 years to build this thing out. they need to produce every quarter. TIC is one of the few, if not the only one, who can shut it down or bleed out inventory over a long period of time. if this place has trouble selling shea will cut their losses and move on.

Dont know what you are talking about.... Shea is one of the oldest PRIVATE construction companies in the USA. They have no rush to unload properties, if anything they will include options in the second phase while increasing prices so everyone is happy. Every home builder does this!

 

[Goriot]

FYI, they have been working on the Baker Ranch project since 1990s and it took 10 years to just to get it zoned to residential.  There initial plan was for commercial development, but changed.  Toll Brothers invested $110mm to take 50% share.

Based on their initial plan, they allotted about 2 years to sell the first phase of the development, which is several hundred homes.  Its eventually planned for 1,800 units.  Based on the history of this project, they are in this for a ver very long haul.  I doubt they will cut prices.  I think these homes will all go sooner then later.

 

[qwerty]

So what are everyone's thoughts on what Shea will do knowing that they could not sell out Ridgewood's partial first phase.  Will they keep trying to push pricing and just take 4-5 years to sell everything out or will they go to the city and try to get more Knoll's product approved as there is obviously more demand at that price point? 

Shea is a public company and doesnt have the luxury of waiting 4-5 years to build this thing out. they need to produce every quarter. TIC is one of the few, if not the only one, who can shut it down or bleed out inventory over a long period of time. if this place has trouble selling shea will cut their losses and move on.

Dont know what you are talking about.... Shea is one of the oldest PRIVATE construction companies in the USA. They have no rush to unload properties, if anything they will include options in the second phase while increasing prices so everyone is happy. Every home builder does this!

i saw that they had public filings and didnt look any further so assumed they were public.
http://www.sec.gov/Archives/edgar/data/1531744/000119312513109613/d454446d10k.htm#toc454446_1

but it looks like they have public debt, not equity, so it requires them to have public financials.

 

[liveatoc]

Yesterday I visited Parkview to know the status.
Looks like most of the buyers backed out due to common drive way for back side homes (Zion and Redwood)

Even though lottery system is followed for each phase, but yesterday sales person told me she can book any of the unsold properties immediately.

FYI..TollB increased prices for some model up to 15K from initial price release.
Here is the link for grand opening prices http://www.talkirvine.com/index.php/topic,3857.msg220065.html#msg220065

 

[SunDevilOC]

I got a note yesterday from the Ridgewood sales team that they still had 2 of the 5 released homes from Phase 1A available for sale.  They had no timeframe when Phase 1b or Phase 2 for that matter would be released.  Good luck to these guys if they keep trying to push prices.  It looks like the Knolls even though they are zero lot line still have the most demand obviously due to their price point.

 

[SunDevilOC]

Looks like they can't sell through the first phase at Parkview either.

Hello,



Thank you for your interest in Parkview at Baker Ranch by Toll Brothers. We have received your Qualification Questionnaire and we have your preliminary findings letters from TBI Mortgage. The findings indicate that you have a home to sell. Please contact us if your home has sold, is in escrow or is listed to be sold. 

We have a limited number of homes that have become available in phase 1 that will be sold on a first come, first serve bases. The reservation requires a $5,000 deposit which will hold the home up to 10 days.  Please visit us and see if your dream home is waiting for you.

 

[liveatoc]

Looks like they can't sell through the first phase at Parkview either.

Hello,



Thank you for your interest in Parkview at Baker Ranch by Toll Brothers. We have received your Qualification Questionnaire and we have your preliminary findings letters from TBI Mortgage. The findings indicate that you have a home to sell. Please contact us if your home has sold, is in escrow or is listed to be sold. 

We have a limited number of homes that have become available in phase 1 that will be sold on a first come, first serve bases. The reservation requires a $5,000 deposit which will hold the home up to 10 days.  Please visit us and see if your dream home is waiting for you.

Buyers back out may be near by Jail effect or recent OC school district rating influence?

Another version of email I received....

Thank you for your interest in Parkview at Baker Ranch by toll Brothers. We have a limited number of homes still available in phase 1 being sold on a first come, first serve bases. You have already been pre-approved with TBI mortgage so we can hold your home for you today with a $5,000 deposit. Please visit us and see if your dream home is waiting for you.

 

[Irvinecommuter]

So what's the tally?

Knolls sold out but Parkview and Ridgewood still available. 

Any word on the Heights or Highland?  I presume that Brookland is sold out.

 

[liveatoc]

So what's the tally?

Knolls sold out but Parkview and Ridgewood still available. 

Any word on the Heights or Highland?  I presume that Brookland is sold out.

aquabliss
Can you provide update on  Heights or Highland?

 

[SunDevilOC]

These guys are all going to be in for the long haul with thes sales numbers.  So you figured each builder released about 9 homes in phase 1 so let's call it 60 homes released.  10000 people for the opening and you can even close 60 sales, that is less than a .6% conversion rate.  Not so hot.