Cressa at Portola Springs - The New Home Company

NEW -> Contingent Buyer Assistance Program
Bullsback said:
Agree with everything you said.  If I end up with a house in LaCressa, than I'll have to get on my soapbox and drive up property value with every post I make that is pro PS, haha.
Have you already started your propaganda campaign by calling Cressa, "LaCressa" to get some of that LaVita goodwill to rub off on Cressa?
 
cheetos said:
Do you think cressa's price is low because the rest of ps3 is condos/flats? Are there going to be more sfh in the neighborhood?
That and location is in the boonies (haha, going to irk pro PS folks), it'll be in between the landfill and GP superfund toxic land and perhaps cemetery.

Otherwise, it's close to elementary and high school, it's priced low for a new sfr, it's in Irvine.  Toxic plume is far south of the location, shouldn't travel upwards/uphill anyways.  Floor plan is decent.  It's close to ps4 and 5, and have a built in resale buyer pool for move up folks in the enclave. 

I'd buy there only if I can secure the lot I want and prices don't increase a lot by then.
 
Good tip.
Till last weekend, all Legado and LaCressa phase 1 sold out.
Apperantly, as a large home( both of Legado and LaCressa target at 2000+ sqt home market with at least 4 bedrooms), their price is fairly low. As a phase 1 home, not low enough, but acceptable.

Possible reasons that cause low price:

1. Open with EW at the same time. Lose in the first step.
2. Far away from retail store, shopping center.
3. Too many flats and apartments in PS3.
4. Landfill issue, Cemetery issue.
  (Hard to say about this two. From distance, PS3 is actually better than other PS enclave. But landfill is still there, and when we talk about PS, we can never forget about landfill.
Cemetery is another factor may push FCBs away from PS3. I don't know whether this has been shown in the open price)


cheetos said:
Do you think cressa's price is low because the rest of ps3 is condos/flats? Are there going to be more sfh in the neighborhood?
 
Something wrong with me.

Did I say "LaCressa" just now?

frank303 said:
Good tip.
Till last weekend, all Legado and LaCressa phase 1 sold out.
Apperantly, as a large home( both of Legado and LaCressa target at 2000+ sqt home market with at least 4 bedrooms), their price is fairly low. As a phase 1 home, not low enough, but acceptable.

Possible reasons that cause low price:

1. Open with EW at the same time. Lose in the first step.
2. Far away from retail store, shopping center.
3. Too many flats and apartments in PS3.
4. Landfill issue, Cemetery issue.
  (Hard to say about this two. From distance, PS3 is actually better than other PS enclave. But landfill is still there, and when we talk about PS, we can never forget about landfill.
Cemetery is another factor may push FCBs away from PS3. I don't know whether this has been shown in the open price)


cheetos said:
Do you think cressa's price is low because the rest of ps3 is condos/flats? Are there going to be more sfh in the neighborhood?
 
Just looked up the affordable housing plan for PSIII.  There will approximately be the same number of affordable housing units as Woodbury.  It will be located at the southeast corner of Still Night and Oak Forest. 

See: 
http://www.cityofirvine.org/community-development/affordable-housing  for all Irvine affordable housing units/locations.

See: http://www.irvinequickrecords.com/s...tg4e33iwtmsmawe/1552220303022016103512638.PDF
Map of PSIII affordable housing location map and the site plan for the complex.

See:
http://www.treasurer.ca.gov/ctcac/staff/2015/20150318/817.pdf  for the number/type of units including monthly rent.

Although this has not been a deal breaker for Woodbury buyers, would it be for Cressa?
 
Thanks for pointing out this. EW is actually much better without any affordable homes.


IrvineNinja said:
Just looked up the affordable housing plan for PSIII.  There will be 256 units of affordable housing at the southeast corner of Still Night and Oak Forest.  This is compared to approx. 240 affordable housing units in Woodbury.  There are other affordable housing units in Irvine but Woodbury has the most in the close vicinity of PSIII. 

See: 
http://www.cityofirvine.org/community-development/affordable-housing  for all Irvine affordable housing units/locations.

See: http://www.irvinequickrecords.com/s...tg4e33iwtmsmawe/1552220303022016103512638.PDF
Map of PSIII affordable housing location map and the site plan for the complex.

See:
http://www.treasurer.ca.gov/ctcac/staff/2015/20150318/817.pdf  for the number/type of units including monthly rent.

Would this be a deal breaker for anyone considering Cressa?
 
You just figured it out. I would consider PS (Irvine county). It's part of Irvine, but not the same. (Disorganized, no shopping, coyotes, etc)

frank303 said:
Thanks for pointing out this. EW is actually much better without any affordable homes.


IrvineNinja said:
Just looked up the affordable housing plan for PSIII.  There will be 256 units of affordable housing at the southeast corner of Still Night and Oak Forest.  This is compared to approx. 240 affordable housing units in Woodbury.  There are other affordable housing units in Irvine but Woodbury has the most in the close vicinity of PSIII. 

See: 
http://www.cityofirvine.org/community-development/affordable-housing  for all Irvine affordable housing units/locations.

See: http://www.irvinequickrecords.com/s...tg4e33iwtmsmawe/1552220303022016103512638.PDF
Map of PSIII affordable housing location map and the site plan for the complex.

See:
http://www.treasurer.ca.gov/ctcac/staff/2015/20150318/817.pdf  for the number/type of units including monthly rent.

Would this be a deal breaker for anyone considering Cressa?
 
well...I think some of these factors is well known in Irvine..

But buying home in Irvine not only need to think about these factors, but also need to think about price. >:D  Everybody has different situation. PS is cheap for some reasons, some people buy cheap, some people won't

eyephone said:
You just figured it out. I would consider PS (Irvine county). It's part of Irvine, but not the same. (Disorganized, no shopping, coyotes, etc)

frank303 said:
Thanks for pointing out this. EW is actually much better without any affordable homes.


IrvineNinja said:
Just looked up the affordable housing plan for PSIII.  There will be 256 units of affordable housing at the southeast corner of Still Night and Oak Forest.  This is compared to approx. 240 affordable housing units in Woodbury.  There are other affordable housing units in Irvine but Woodbury has the most in the close vicinity of PSIII. 

See: 
http://www.cityofirvine.org/community-development/affordable-housing  for all Irvine affordable housing units/locations.

See: http://www.irvinequickrecords.com/s...tg4e33iwtmsmawe/1552220303022016103512638.PDF
Map of PSIII affordable housing location map and the site plan for the complex.

See:
http://www.treasurer.ca.gov/ctcac/staff/2015/20150318/817.pdf  for the number/type of units including monthly rent.

Would this be a deal breaker for anyone considering Cressa?
 
frank303 said:
Thanks for pointing out this. EW is actually much better without any affordable homes.


IrvineNinja said:
Just looked up the affordable housing plan for PSIII.  There will be 256 units of affordable housing at the southeast corner of Still Night and Oak Forest.  This is compared to approx. 240 affordable housing units in Woodbury.  There are other affordable housing units in Irvine but Woodbury has the most in the close vicinity of PSIII. 

See: 
http://www.cityofirvine.org/community-development/affordable-housing  for all Irvine affordable housing units/locations.

See: http://www.irvinequickrecords.com/s...tg4e33iwtmsmawe/1552220303022016103512638.PDF
Map of PSIII affordable housing location map and the site plan for the complex.

See:
http://www.treasurer.ca.gov/ctcac/staff/2015/20150318/817.pdf  for the number/type of units including monthly rent.

Would this be a deal breaker for anyone considering Cressa?
But EW has a huge mobile park across :o 
 
That belvedere (and Piedmont) pricing tho... It's like strada without the elevation, or it's now even close to Capella that's MLS listed
 
AW said:
That belvedere (and Piedmont) pricing tho... It's like strada without the elevation, or it's now even close to Capella that's MLS listed
That pricing made me want to throw up. 
 
Bullsback said:
AW said:
That belvedere (and Piedmont) pricing tho... It's like strada without the elevation, or it's now even close to Capella that's MLS listed
That pricing made me want to throw up.
agree but as long as some folks are willing to pay, that will be the "fair" pricing...  Good for folk who have houses already and even better if yousold yours for big profit...

If it's not sustainable without job and income growth like in San Jose or San fran... it maybe different story in the future... but then again inflation would may bail out buyers at peak....
 
IrvineNinja said:
What does everyone think of the Portola Springs Road extension that is on the perimeter or Cressa and at each end of the Cressa cul de sacs?  It is like an upward ramp that curves around the perimeter and is higher than the some of the future Cressa homes.  They will have a low wall beneath but if you can see the cars going up that close to the homes, it will not only be super noisy (it's one of the main roads for the new enclave PS4 or 5?) but a total eyesore.

Who will pay for the wall? (Jk)
 
Phase 2 Release

Plan 1
Lot 6  - $966,800
Lot 8  - $966,800
Lot 15 - $971,800
Lot 30 - $971,800

Plan 2
Lot 5  - $1,006,800
Lot 16 - $1,011,800
Lot 31 - $1,026,800

Plan 3
Lot 7  - $1,060,800

*Lot 12 (Plan 1) still available from phase 1
 
JLin said:
Phase 2 Release

Plan 1
Lot 6  - $966,800
Lot 8  - $966,800
Lot 15 - $971,800
Lot 30 - $971,800

Plan 2
Lot 5  - $1,006,800
Lot 16 - $1,011,800
Lot 31 - $1,026,800

Plan 3
Lot 7  - $1,060,800

*Lot 12 (Plan 1) still available from phase 1

What's the catch? Why are prices here so much lower than comps in other new villages?
 
It's just like when Northwood Point first opened.  I remember going out there and thinking it's out in the boonies.  It was brown, lots of dirt, nothing around.  My friend's sister bought a sfr for $350k.  Now the same type of house around there is going for $900-1mil. 

It's after Northwood HS opened and got a really good reputation, is when everyone wanted to move there and that drove the house values up.
 
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