Cadence Park - Great Park

NEW -> Contingent Buyer Assistance Program
kbinteriordesign said:
Mety said:
I'm sorry. After looking in to these homes more. THAT price is NOT a first time home buying price.
Click to expand...

You took the words right out of my mouth, or rather, my fingertips. However, I would really like to know who is buying these properties!

I'm curious about the Residence 2 with the detached garage -- so, where is the garage located? If you think hauling groceries up a flight of stairs is bad, imagine having to haul them from the outdoors when it's super hot or raining!

I can see how those floor plans may work for some people, perhaps those with roommates or extended family living with them. There's a bright side to everything, right? :)
Click to expand...

Once the new home smell wears off the buyers of these 3-level condos will find out the it's more difficult renting and selling 3-level condos, especially of this size. 
 
USCTrojanCPA said:
kbinteriordesign said:
Mety said:
I'm sorry. After looking in to these homes more. THAT price is NOT a first time home buying price.
Click to expand...

You took the words right out of my mouth, or rather, my fingertips. However, I would really like to know who is buying these properties!

I'm curious about the Residence 2 with the detached garage -- so, where is the garage located? If you think hauling groceries up a flight of stairs is bad, imagine having to haul them from the outdoors when it's super hot or raining!

I can see how those floor plans may work for some people, perhaps those with roommates or extended family living with them. There's a bright side to everything, right? :)
Click to expand...

Once the new home smell wears off the buyers of these 3-level condos will find out the it's more difficult renting and selling 3-level condos, especially of this size.
Click to expand...

Are you focusing on the shortcomings of Prado or all 3 level condos (detached or attached)?

IMO, I am not a fan of the 3 level condo with the kitchen and living rooms on the second floor and main bedrooms on the third floor.

I looked at some detached 3 level condos with great views, efficient floor plans and main living areas on the first floors, like the Ellwood, Carlisle, Jade and Somerset, and they were nice: and they seem to be selling and renting well.
 
IHS3000 said:
USCTrojanCPA said:
kbinteriordesign said:
Mety said:
I'm sorry. After looking in to these homes more. THAT price is NOT a first time home buying price.
Click to expand...

You took the words right out of my mouth, or rather, my fingertips. However, I would really like to know who is buying these properties!

I'm curious about the Residence 2 with the detached garage -- so, where is the garage located? If you think hauling groceries up a flight of stairs is bad, imagine having to haul them from the outdoors when it's super hot or raining!

I can see how those floor plans may work for some people, perhaps those with roommates or extended family living with them. There's a bright side to everything, right? :)
Click to expand...

Once the new home smell wears off the buyers of these 3-level condos will find out the it's more difficult renting and selling 3-level condos, especially of this size.
Click to expand...

Are you focusing on the shortcomings of Prado or all 3 level condos (detached or attached)?

IMO, I am not a fan of the 3 level condo with the kitchen and living rooms on the second floor and main bedrooms on the third floor.

I looked at some detached 3 level condos with great views, efficient floor plans and main living areas on the first floors, like the Ellwood, Carlisle, Jade and Somerset, and they were nice: and they seem to be selling and renting well.
Click to expand...

I (and many buyers) are not fans of 3-level homes where the living area is on the 2nd floor and bedrooms on the 3rd floor.  It's totally different if the living area is on the 1st floor and bedrooms on the 2nd floor while the 3rd floor has a deck and/or bonus room.
 
aquabliss said:
Guessing no one ever lived here?  No window coverings!
Click to expand...
Yeah. And it definitely looks like a speculation play gone bad. Look at this huge price drop listing price
Aug 10, 2018
Price Changed
CRMLS #OC18137085 $1,188,888
Jul 26, 2018
Price Changed
CRMLS #OC18137085 $1,288,898
Jun 8, 2018
Listed (Active)
CRMLS #OC18137085 $1,374,888
 
I just don't get why people don't look for resale at this price point.

Is being the first person to sit on the master toilet worth it?

(and you probably aren't the first, a contractor probably blessed it for you :) )
 
Kenkoko said:
aquabliss said:
Guessing no one ever lived here?  No window coverings!
Click to expand...
Yeah. And it definitely looks like a speculation play gone bad. Look at this huge price drop listing price
Aug 10, 2018
Price Changed
CRMLS #OC18137085 $1,188,888
Jul 26, 2018
Price Changed
CRMLS #OC18137085 $1,288,898
Jun 8, 2018
Listed (Active)
CRMLS #OC18137085 $1,374,888
Click to expand...

Was obsidian one of IHS? projects?
 
If you want easy resale, when spending over $1 million on an orange county home that is anything but beachfront, only buy a true SFR with a full driveway and max two stories.
 
kbinteriordesign said:
Mety said:
I'm sorry. After looking in to these homes more. THAT price is NOT a first time home buying price.
Click to expand...

You took the words right out of my mouth, or rather, my fingertips. However, I would really like to know who is buying these properties!

I'm curious about the Residence 2 with the detached garage -- so, where is the garage located? If you think hauling groceries up a flight of stairs is bad, imagine having to haul them from the outdoors when it's super hot or raining!

I can see how those floor plans may work for some people, perhaps those with roommates or extended family living with them. There's a bright side to everything, right? :)
Click to expand...

Hi All,

I wanted to join the conversation because my fiance and I recently put a deposit down on an attached 3 story home in Cadence park (~800k)! In particular, we went with Muse plan 1 (4 bedroom 3.5 baths with the extended ground level suite). We were in the market for almost 8 months and after numerous homes lost to over asking cash offers, we decided to look at new construction.

Why we chose Muse? Firstly, the potential of the neighborhood. My fiance and I are planning to have a family and the area is going to be amazing when everything is built.

Neighborhood:

  • New k-8 School
  • Parks, Pools, and Sports Facilities
  • Warehouse 415 - boutique shops and restaurants
  • Five-points Amphitheater
  • And much more walking/biking distance!

Secondly, the floor-plan is amazing and the home is energy efficient/new! Many on this forum have mentioned the difficulties of a three story plan but the builders make up for this in many ways.

The open layout, high ceilings, and large deck is something we couldn't find in any 2-story homes that we could afford. The use of space makes the home feel much larger than the square footage. The washer and dryer are on the same floor as the bedrooms (3 of 4) which makes laundry easy. The kitchen is huge! An 8 foot by 4 foot island is flanked by a sea of cabinets. This kitchen feels like it belongs in a much more expensive house.

The master-bedroom has a largeeee walk in closet. Again, something you can't find in resale homes in this price range. The ground level suite, where my parents will stay when they retire, is large enough for a bedroom set and a couch/tv area.

I completely agree that if we could afford a larger mortgage a 2-story with a yard and driveway would be ideal but that is harder and harder to come across with a 800k budget in Irvine. When an entry 2-story home does come on the market it's scooped up for more than asking with a cash offer.

I think the 3-story homes are here to stay for "first time buyers". I used quotes because 800k is a very large amount and that is not lost on us. So, when you ask who are buying these homes? I say professional couples in their early thirties/late twenties that are looking for a place to raise a family in a new neighborhood with all the amenities that brings.


Thanks for taking the time to read!

 
Nice refute to the anti 3 stories homes. From the builder perspective, the land cost is substantially higher than the improvement cost, which is the construction of the house. Therefore building vertical to gain more liveable sqft, yet keep the price at target for first time homeowners (millennial) to be able to afford is the main goal for these type of homes. Few of the existing neighborhoods in Irvine has this much amenities and potential for the current price range.

I am a firm believer in Irvine when you go long. I think and hope that those that buy in the near term planned for a long hold. If you have any view of less than 3-5 years hold, then I would say renting might be more suitable in my view.

With all the heads line of slowing down, you would want to use it as a leverage and put pressure in your favor on any transaction. This is the time to make the most of your hard earn money. Always be ready to walk away and not having emotional attach to a house.
 
realEstatey said:
kbinteriordesign said:
Mety said:
I'm sorry. After looking in to these homes more. THAT price is NOT a first time home buying price.
Click to expand...

You took the words right out of my mouth, or rather, my fingertips. However, I would really like to know who is buying these properties!

I'm curious about the Residence 2 with the detached garage -- so, where is the garage located? If you think hauling groceries up a flight of stairs is bad, imagine having to haul them from the outdoors when it's super hot or raining!

I can see how those floor plans may work for some people, perhaps those with roommates or extended family living with them. There's a bright side to everything, right? :)
Click to expand...

Hi All,

I wanted to join the conversation because my fiance and I recently put a deposit down on an attached 3 story home in Cadence park (~800k)! In particular, we went with Muse plan 1 (4 bedroom 3.5 baths with the extended ground level suite). We were in the market for almost 8 months and after numerous homes lost to over asking cash offers, we decided to look at new construction.

Why we chose Muse? Firstly, the potential of the neighborhood. My fiance and I are planning to have a family and the area is going to be amazing when everything is built.

Neighborhood:

  • New k-8 School
  • Parks, Pools, and Sports Facilities
  • Warehouse 415 - boutique shops and restaurants
  • Five-points Amphitheater
  • And much more walking/biking distance!

Secondly, the floor-plan is amazing and the home is energy efficient/new! Many on this forum have mentioned the difficulties of a three story plan but the builders make up for this in many ways.

The open layout, high ceilings, and large deck is something we couldn't find in any 2-story homes that we could afford. The use of space makes the home feel much larger than the square footage. The washer and dryer are on the same floor as the bedrooms (3 of 4) which makes laundry easy. The kitchen is huge! An 8 foot by 4 foot island is flanked by a sea of cabinets. This kitchen feels like it belongs in a much more expensive
Click to expand...

Congrats!  How?s the light on the second floor?  Not many windows and that large deck takes away some of the natural light to the living room.

I think it?s the combo of 3 floors + high MR that has a lot of people shaking their heads. But I think there?s upside at Cadence Park. Like CV said, just have to hold it for the longer term.
 
I'm not convinced.

While the floorplan may be functional (except for the 3 stories), being attached at both sides (I believe Plan 1 is the sandwich unit) is basically like living in an apartment.

I understand they are maximizing land costs but they should configure these in a way that makes it less obvious you are living in an attached unit. Maybe a 4-pack with a unit on each corner so that every place has at least 2 sides of light and a possible side yard.

For $800k, I would rather get USC's Firefly detached condo in Woodbury (where everything is also walkable) Portola Springs:
https://www.redfin.com/CA/Irvine/152-Firefly-92618/home/112721717

Where is akkord? I think he can find a 4-br detached home in the $800k range.

EDIT: Correction by bones, still prefer non-walkable Firefly over 3-story attached
 
irvinehomeowner said:
I'm not convinced.

While the floorplan may be functional (except for the 3 stories), being attached at both sides (I believe Plan 1 is the sandwich unit) is basically like living in an apartment.

I understand they are maximizing land costs but they should configure these in a way that makes it less obvious you are living in an attached unit. Maybe a 4-pack with a unit on each corner so that every place has at least 2 sides of light and a possible side yard.

For $800k, I would rather get USC's Firefly detached condo in Woodbury (where everything is also walkable):
https://www.redfin.com/CA/Irvine/152-Firefly-92618/home/112721717

Where is akkord? I think he can find a 4-br detached home in the $800k range.
Click to expand...

That firefly condo is in portola springs. Not walkable to anywhere except some PS amenities.
 
irvinehomeowner said:
Where is akkord? I think he can find a 4-br detached home in the $800k range.
Click to expand...

Not in Irvine, :(  highly doubtful you'd find something turnkey at the 800k price range for a 4 bed detached.  Tustin Ranch maybe, Presidio neighborhood used to have some 3/4 bed? detached, no driveway, in the 700s, but I haven't seen much for sale there lately and if priced right they go pretty quickly.

I'm in your camp, 3 stories is horrible, something to think about, when you have toddlers, aren't parents worried about stairs, especially when the kids first start crawling and walking.  I hate the look of gates (personal opinion) and you'd have a lot of them in a 3 story home.  Bringing in groceries/Costco run, getting your kids upstairs, in addition to opening gates at the bottom and top of the first flight of stairs, doesn't sound fun to me to get to the kitchen/main living area. 

Always get a detached over an attached place.  Bad neighbors will make your life horrible, haven't people read on Nextdoor, the cigar smokers with the odor, the bachelor or college kids bumping music, mainlander smoking cigs and tossing them in front of your place, people leaving trashcans out all week just to name a few cons.

 
Depends on homebuyer's priorities.  I was okay with buying older floorplan because I wanted 3CWG and bigger lot.  Wife did not like older kitchen and master layout and so we bought new despite the almost $8K in Mello we now pay.  She would have picked Muse Plan 1 over Rockwood if those were the only 2 choices.
 
I think the millennial set prefer newer homes and open plans. What about this one? 

https://www.redfin.com/CA/Irvine/214-Crescent-Moon-92602/home/146847137?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

Plan 2 vista scena in OH. Attached but no shared walls. More light. Two stories. 4 bed. It is $900k but factor in difference in MR and upgrades at muse and the #s are a lot closer.
 
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