Current status of Maricopa in Stonegate

[irvinehomeowner]

I bought the Plan 1 in Phase 6. I was told that starting from Phase 7, the prices will go up by approx $20k. That is standard practice with any new dev homes. Phase 7 isn't released as of right now. I was told it'll be released middle of Dec.

That's different from what I heard... sales said prices would stay the same because it's the slow season.

 

[Irvine_Dreamer]

In both developments (Maricopa and Laguna Altura), the ONLY plans that sell are the plan 1s.    My opinion is that it (plan 1) is the cheapest 4BR home that they offer, and regardless of price per sq ft metrics (because from that standpoint it isnt cheap), people want to get into a detached true SFR.  I personally think the floor plan in the model 2 is much roomier and nicer, but that the price point is cost prohibitive.    The better strategy (at least for us buyers) is for TIC to lower the prices on the larger floor plans to make them more attractive.  Rather, it seems as if the TIC strategy is to price up the plan 1 to decrease the price delta between that and the larger plans, which may "encourage" buyers to purchase a plan 2... well that and "why the f not" since people are buying the plan 1's.    Even in Cortona (Laguna Altura), all plan 1's that were just released in phase 3 have been sold.  They are base priced at $855K, which I personally think is way overpriced.

Of course the plan 2 is nicer.  But doesn't matter for me if I can't afford it.
Raising the plan 1 price does not "encourage" buyers to purchase a plan 2.  It just discourages the potential plan 1 buyer.  When my absolute limit is 800K, even lowering Cortona plan 1 price down to 820K wouldn't matter to me.
I really think the sweet spot is 750-800K for 4BR, 2000-2500 sf, detached SFR with driveway.  And Maricopa plan 1 was the only one that fits in the range, not counting Las Ventanas because of proximity to freeway.
Well, I guess I have to wait for the new 2012 offerings.  :'(

 

[akim997]

i think it does discourage the plan 1 buyer.  unfortunately, tic thinks this is 2005... 

you hit the nail on the head.  it really isnt about price per sq ft, or comps, or anything.  it is "what can i afford?" 

our friends just closed on a portisol plan 2 home in wb.  was it the ideal house?  not by a long shot.  they wanted a 4br detached sfr.  however, in that price range, it isn't really there.  1949 sq ft, for a house with a decent backyard, driveway, and decent floorplan fit the bill.  they'll have to live with the 3BR 2.5ba, but got a pretty good price based on other comparable portisol 2 sales.

similarly, plan 1 isnt the most idea overall floor plan, but it provided a "more reasonable" solution.  what tic doesn't get is that their "proposed solution" doesnt work, which is a 2000 sq ft motorcourt detached condo...

 

[irvinehomeowner]

our friends just closed on a portisol plan 2 home in wb.  was it the ideal house?  not by a long shot.  they wanted a 4br detached sfr.  however, in that price range, it isn't really there.  1949 sq ft, for a house with a decent backyard, driveway, and decent floorplan fit the bill.  they'll have to live with the 3BR 2.5ba, but got a pretty good price based on other comparable portisol 2 sales.

Yeah... those Plan 2s are now listing at $749k... that used to be a short sale low list price... Woodbury is definitely taking a hit.

$750k for 3br sub-2000sft house is still non-fundamentally high... but at least it has a driveway and more sizeable lots.

 

[funkychalupa]

Stopped by Maricopa last week... seems like they are getting ready for Phase 7(?) but it's moving slower.

I also noticed they've cut back on the number of Plan 3s they are building. They are replacing them with 1s an 2s. And yes... the 1s are sold out currently. If they are having a hard time selling Plan 3s, just imagine when they eventually build bigger homes north of Maricopa (floorplans similar to San Marino and Toscana), that will takes years to build out.

I was driving around the streets that have been built and the 1s look really lopsided. I appreciate they were trying not to make them look boxy by not building over the garage but they could have utilized that 2nd floor space and kept some aesthetic (like Cortona). Now... they actually look a bit lopsided... like all the house is stacked on one side.

I do think that if they lowered prices all around, they would sell them very quickly but they can't now as it would anger all the earlier phase buyers (which I kind of understand but doesn't that happen in real estate nowadays... it's not the bubble where every phase is going to increase 10s of thousands of dollars).

How are the sales doing at the detached condo tracts?

I was wondering about area north of Maricopa and San Marcos. The village map shows the layout, so I'm thinking they're getting ready to open two new homes for SG next year?

I think they just raised Plan 1 price. It used to be high 700, but now it shows low 800. 

I bought the Plan 1 in Phase 6. I was told that starting from Phase 7, the prices will go up by approx $20k. That is standard practice with any new dev homes. Phase 7 isn't released as of right now. I was told it'll be released middle of Dec.

Congrat
Any info on additional cost and hidden fees will be appreciated.

Additional costs yes (because of options and upgrades). Hidden fees tend to show up when you get a mortgage. The "Kelso Team" (OnQ Financial) has been very informative and upfront with all the little bitty details you need to know about timing, interest rate, closing costs, points, rate locks, down ratio, etc... That really has nothing to do with the builder.

Besides those, $110 HOA per month. However, I wouldn't be surprised if they jack it up higher as time goes by. Approx 1.5% - 1.6% property tax including mello roos and special bonds... I hate those things but consider it used to be > 2% about 3-5 years ago, I'll live with it. You really just have to make sure all corners are considered. Question EVERYTHING.

$20k deposit in order to secure the house, WHEN it is your turn on the waiting list. We officially waited for about a month. DO get yourself pre-qualified.

Stage 1 upgrades are decided upon contract signing, $1500 to convert den into bedroom downstairs, $3000 to get the double sliding glass door from dining area out to backyard.

The rest of the upgrades/cost are found on designer website which is only accessible by home owners.

 

[akim997]

i love how they don't readily share any of the upgrade costs with you... it's like pulling teeth!

if i go to buy a car, will they tell me how much navi is only after i say ill buy it????

 

[funkychalupa]

i love how they don't readily share any of the upgrade costs with you... it's like pulling teeth!

if i go to buy a car, will they tell me how much navi is only after i say ill buy it????

Well... they don't necessarily broadcast their prices for upgrades right away. Think about the actual shopping experience. You first visit the sales office and the model houses. You get a brochure on the general neighborhood. These two steps alone tell you what upgrades are actually in the model house and what you actually get as standard. It doesn't necessarily have a number associated with each item but you get a clean list. From the brochure you get info on HOA and Prop Tax as well.

It is a little bit tricky that you won't get the actual numbers of each upgrade item until you commit to buy the house. The IPac designers won't meet with you until you sign the contract. But guess what, that is one of the main reasons people have greatly suggested opting for 3rd party vendor to do your cosmetic upgrades.

But I will say this, a lot of the upgrades from the builders such as recessed lights, soft close drawers, additional outlets, pre-plumbing, medicine cabinets, upgraded stainless steel sinks are actually well within reasonable price range. Those things actually will cost you MORE if you decide to upgrade afterwards. So you really gotta do your homework while shopping just like anything else you buy.

 

[irvinehomeshopper]

Great information regarding upgrades. These are all cosmetic finishes your future resale buyers want to rip out right away. Have you given much thought about how these homes would hold up or look like in 50 years?

 

[woodburyowner]

i love how they don't readily share any of the upgrade costs with you... it's like pulling teeth!

if i go to buy a car, will they tell me how much navi is only after i say ill buy it????

i never had an issue with getting prices on the basic upgrades.  just ask the sales counselors and they'll look it up for you.

 

[freedomcm]

Great information regarding upgrades. These are all cosmetic finishes your future resale buyers want to rip out right away. Have you given much thought about how these homes would hold up or look like in 50 years?

HaHaHa, fifty years!  what a card....