Eastwood is way over priced
- Thread starter soysen
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NEW -> Contingent Buyer Assistance Program
I was on the pre-qual list so they sent me prices before general release. When I first saw the Plan 3 pricing they just seemed out of wack. Plans 1 & 2 were 1.1 million but then Plan 3 was 1.3! Not usually that big of a price jump. The price per square foot for Plan 3 was higher than Plan 2 - almost always the other way around. But then again they had three Plan 3s (out of six total) listed on their price sheet and I knew that Plan 3 at Strada was by far the most desired plan plus IP marketing is pretty shrewd and they had three separate Plan 3s listed. The prices were put up on Redfin, distributed to all pre-qualifiers via pdf, and printed copies distributed at the grand opening. I even mentioned to sales that their Plan 3 pricing was a WTF but they said nothing. Went to the public grand opening and they sold everything except two Plan 3s. No mention of any error yet. Really IP? If this was an error NO ONE caught it yet!?
Got the phase 2 prices and noticed the price drop - no mention that phase 1 prices were revised downward. If they were don't you think an e-mail would have gone out to all on the priority list members as an enticement to sell out phase 1 prior to the public grand opening? Went to visit and saw that three Plan 3s were available (including the 2 previously from phase 1) but nothing else. Mentioned the price differential between phase 1 and 2, got a "strange look" from them before they informed me about the marketing mistake - this is what it took to find out? Combined with my previous comments about trying to determine rear yard sizes - they ain't trustful.
Makes for an interesting story, but IP unsuccessfully tried to cover their back sides.
Excellent point. This is definitely a SNAFU and some heads should roll, but who? The person(s) who came up with the prices or those who typed in the supposedly incorrect prices.
Overheard these comments at the pool yesterday (although my mandarin may be a little off):
"I had to drop a SHIT load of Yuan to buy here - can't I show my appreciation with a little deposit in the pools?"
"I'll spend $1.1 million for an IP box house but $44 for trash pickup? That's where I draw the line!"
"IP has been kissing my ass and feet to buy. What do you mean I can't put my uncleansed feet in the pool or use their water to spruce up a little?"
I can't tell if this is sarcasm. I sure hope it is.
I witness crazy things every day living and working in Irvine. It's not so easy to identify sarcasm.
One of the most sensible posts I've seen and thank you worthy - you are absolutely correct and congratulations on your 1000th post! You are a Certified Irvine Addict.
One of my buddies from Chicago (my home town) read my post and thought I hadn't gone far enough. Guess I'm getting soft in my old age....
A kitchen sink view from an Eastwood model home.
Why people are paying so much maybe because the total effective tax rate is about 1.4% for Eastwood which is a less than the almost 2% in other communities. I went to Eastwood this week and most had sold out models. One didn't have a model available until Oct. I wouldn't be surprised if they raised prices even more from where they're at now.
Also, the Ability to Repay rules from Dodd-Frank require borrowers qualify for the real housing payment based on their real provable income. But for this regulation, creditors would likely stretch their lending guidelines to enable speculators and fearful buyers to buy "more house" than they can reasonably afford.
http://www.consumerfinance.gov/regu...-under-the-truth-in-lending-act-regulation-z/
Irvine or Bust said:
zubs said:
I was on the pre-qual list so they sent me prices before general release. When I first saw the Plan 3 pricing they just seemed out of wack. Plans 1 & 2 were 1.1 million but then Plan 3 was 1.3! Not usually that big of a price jump. The price per square foot for Plan 3 was higher than Plan 2 - almost always the other way around. But then again they had three Plan 3s (out of six total) listed on their price sheet and I knew that Plan 3 at Strada was by far the most desired plan plus IP marketing is pretty shrewd and they had three separate Plan 3s listed. The prices were put up on Redfin, distributed to all pre-qualifiers via pdf, and printed copies distributed at the grand opening. I even mentioned to sales that their Plan 3 pricing was a WTF but they said nothing. Went to the public grand opening and they sold everything except two Plan 3s. No mention of any error yet. Really IP? If this was an error NO ONE caught it yet!?
Got the phase 2 prices and noticed the price drop - no mention that phase 1 prices were revised downward. If they were don't you think an e-mail would have gone out to all on the priority list members as an enticement to sell out phase 1 prior to the public grand opening? Went to visit and saw that three Plan 3s were available (including the 2 previously from phase 1) but nothing else. Mentioned the price differential between phase 1 and 2, got a "strange look" from them before they informed me about the marketing mistake - this is what it took to find out? Combined with my previous comments about trying to determine rear yard sizes - they ain't trustful.
Makes for an interesting story, but IP unsuccessfully tried to cover their back sides.
eyephone said:
Excellent point. This is definitely a SNAFU and some heads should roll, but who? The person(s) who came up with the prices or those who typed in the supposedly incorrect prices.
AW said:
Overheard these comments at the pool yesterday (although my mandarin may be a little off):
"I had to drop a SHIT load of Yuan to buy here - can't I show my appreciation with a little deposit in the pools?"
"I'll spend $1.1 million for an IP box house but $44 for trash pickup? That's where I draw the line!"
"IP has been kissing my ass and feet to buy. What do you mean I can't put my uncleansed feet in the pool or use their water to spruce up a little?"
Perspective
Well-known member
DrTravel said:
I can't tell if this is sarcasm. I sure hope it is.
Irvinecommuter
New member
This whole situation makes me said...I live in Stonegate and everyone seems pretty civil. I don't hang at the pool area a lot but the times that I am there, everyone seems to be respectful.
Actually, the problem I have are with pre-teen kids who take over the pool and are there without adult supervision. Makes it hard to swim with my kids.
Actually, the problem I have are with pre-teen kids who take over the pool and are there without adult supervision. Makes it hard to swim with my kids.
Perspective
Well-known member
WTTCHMN said:
I witness crazy things every day living and working in Irvine. It's not so easy to identify sarcasm.
zubs said:
One of the most sensible posts I've seen and thank you worthy - you are absolutely correct and congratulations on your 1000th post! You are a Certified Irvine Addict.
One of my buddies from Chicago (my home town) read my post and thought I hadn't gone far enough. Guess I'm getting soft in my old age....
A kitchen sink view from an Eastwood model home.
Why people are paying so much maybe because the total effective tax rate is about 1.4% for Eastwood which is a less than the almost 2% in other communities. I went to Eastwood this week and most had sold out models. One didn't have a model available until Oct. I wouldn't be surprised if they raised prices even more from where they're at now.
usctrojancpa
Well-known member
The new home smell is a hell of a drug. haha But in all seriousness, one of the main reasons why these new homes are selling so well is because resale inventory is low (even seasonally adjusted) at less than 2.5 months of inventory. The main reason why prices aren't doing the same thing they did in 2013 is that we have more new home inventory to soak up a good bit of buyer demand. Remember, the number of month of resale inventory is a good present/forward indicator of the health of the real estate market.
Perspective
Well-known member
USCTrojanCPA said:
Also, the Ability to Repay rules from Dodd-Frank require borrowers qualify for the real housing payment based on their real provable income. But for this regulation, creditors would likely stretch their lending guidelines to enable speculators and fearful buyers to buy "more house" than they can reasonably afford.
http://www.consumerfinance.gov/regu...-under-the-truth-in-lending-act-regulation-z/
Curious as to why you are calling it Trailer Park....could it be bc of this?
Northwood Estates
Hi everyone, I am new to the Irvine area and wondering what all the Irvine experts think of Northwood Estates neighborhood and schools? Thanks so much!
www.talkirvine.com