Fresco @ Eastwood Village

[usctrojancpa]

I think once we get to around $750/sf for most homes we'll start stalling out on prices, obviously highly upgraded homes, premium lot homes, smaller homes, and single story homes will trade above $750/sf.

 

[Yousr]

We received the phase 14C pricing email and I guess we are closer to get a spot?

But the price increased so much from phase 13 in 2 months ago -- I am not sure it is worth buying anymore. The risk of buying at peak seems to be pretty high, and the interest rate is likely much higher after 6~9 months. 

We have a place to live at a very low cost, and the monthly cost of owning this Eastwood home is much higher now - unless we buy this as an investment.

Do you think buying an Eastwood new home is a good investment that will appreciate in 6-9 months?

Plan2X, 2944 sqft, 3951 sqft lot,  price = $2.113M
Plan3X, 3024 sqft, 3951 sqft lot, price = $2.166M

Price per Sqt wise, plan 3(700$) is  better compared to the Plan 1 Resale(825$) noted a few posts above. EW prices have done extremely well so far and could hold up value even if there is market downturn IMO.

I just looked at lot map and Model 2 is actually a corner lot which explains why its price is so close to Model 3.

Floorplan 2 pricing is almost always very close in pricing to that of floorplan 3 for the Fresco extension lots. Reason being that for these smaller lots, floorplan 3 can?t fit a conservatory while floorplan 2 can. End result is the smaller floorplan 2, pre-plotted with a conservatory option, comes very close in terms of both square footage and pricing to a floorplan 3 lacking a conservatory.

 

[Yousr]

Price per Sqt wise, plan 3(700$) is better compared to the Plan 1 Resale(825$) noted a few posts above. EW prices have done extremely well so far and could hold up value even if there is market downturn IMO.

Plan 1 is not avaliable in this phase.

Price per sqft for plan 2 is $717) and plan 3 is $716.

I looked at Eastwood 4-br resale last month, the average is $720. I can't see the prices in escrow but it feels like the price is peaking at least short term.

So the new home per sqft is higher than the market price considering the upgrade cost later + interest rate hike in 9 months

Floorplan 3 base price has made the following consecutive jumps quickly to catch up with the resale market value:
1) phase 12=>13: 50k
2) phase 13=>14b: 150k (no floorplan 3 offered in phase 14a)
3) phase 14b=>14c: 100k

This is 17% in just 2 months. To put things in perspective, those who bought in one of the earliest phases around Dec. 2020, saw a 250k increase across the whole span of a year. Interestingly, also 17% but in 12 months. Now, does this look like a sustainable trajectory?

Since the new home offering price is all caught up now with the resale market value (if you add the 110k for the bonus room to the 14c asking pricing, it will touch 2.3M, the selling price for 104 parakeet), all you need to do is ask yourself if you have reason to believe there is still steam in the market to make another mid-teens profit in the second half of the year, to make it worth your while taking the risk of a quick flip?

 

[linus]

Price per Sqt wise, plan 3(700$) is better compared to the Plan 1 Resale(825$) noted a few posts above. EW prices have done extremely well so far and could hold up value even if there is market downturn IMO.

Plan 1 is not avaliable in this phase.

Price per sqft for plan 2 is $717) and plan 3 is $716.

I looked at Eastwood 4-br resale last month, the average is $720. I can't see the prices in escrow but it feels like the price is peaking at least short term.

So the new home per sqft is higher than the market price considering the upgrade cost later + interest rate hike in 9 months

Floorplan 3 base price has made the following consecutive jumps quickly to catch up with the resale market value:
1) phase 12=>13: 50k
2) phase 13=>14b: 150k (no floorplan 3 offered in phase 14a)
3) phase 14b=>14c: 100k

This is 17% in just 2 months. To put things in perspective, those who bought in one of the earliest phases around Dec. 2020, saw a 250k increase across the whole span of a year. Interestingly, also 17% but in 12 months. Now, does this look like a sustainable trajectory?

Since the new home offering price is all caught up now with the resale market value (if you add the 110k for the bonus room to the 14c asking pricing, it will touch 2.3M, the selling price for 104 parakeet), all you need to do is ask yourself if you have reason to believe there is still steam in the market to make another mid-teens profit in the second half of the year, to make it worth your while taking the risk of a quick flip?

Just wanted to point out that the plan 3x in phase 14c already has the bonus room included in the $2.11M price 

 

[huuur]

Price per Sqt wise, plan 3(700$) is better compared to the Plan 1 Resale(825$) noted a few posts above. EW prices have done extremely well so far and could hold up value even if there is market downturn IMO.

Plan 1 is not avaliable in this phase.

Price per sqft for plan 2 is $717) and plan 3 is $716.

I looked at Eastwood 4-br resale last month, the average is $720. I can't see the prices in escrow but it feels like the price is peaking at least short term.

So the new home per sqft is higher than the market price considering the upgrade cost later + interest rate hike in 9 months

Floorplan 3 base price has made the following consecutive jumps quickly to catch up with the resale market value:
1) phase 12=>13: 50k
2) phase 13=>14b: 150k (no floorplan 3 offered in phase 14a)
3) phase 14b=>14c: 100k

This is 17% in just 2 months. To put things in perspective, those who bought in one of the earliest phases around Dec. 2020, saw a 250k increase across the whole span of a year. Interestingly, also 17% but in 12 months. Now, does this look like a sustainable trajectory?

Since the new home offering price is all caught up now with the resale market value (if you add the 110k for the bonus room to the 14c asking pricing, it will touch 2.3M, the selling price for 104 parakeet), all you need to do is ask yourself if you have reason to believe there is still steam in the market to make another mid-teens profit in the second half of the year, to make it worth your while taking the risk of a quick flip?

So it sounds something like this?
plan 3 (~3000 sqft) started $1.6M 12/2020 and grew to $1.85M 11/2021.
Then grew from $1.85M 11/2021 to $2.16M 03/2022

That is a good perspective to have for sure...
Also I think the later phases have smaller lots too ~ all under 4000 sqft, but more expensive than earlier models

 

[huuur]

Price per Sqt wise, plan 3(700$) is better compared to the Plan 1 Resale(825$) noted a few posts above. EW prices have done extremely well so far and could hold up value even if there is market downturn IMO.

Plan 1 is not avaliable in this phase.

Price per sqft for plan 2 is $717) and plan 3 is $716.

I looked at Eastwood 4-br resale last month, the average is $720. I can't see the prices in escrow but it feels like the price is peaking at least short term.

So the new home per sqft is higher than the market price considering the upgrade cost later + interest rate hike in 9 months

Floorplan 3 base price has made the following consecutive jumps quickly to catch up with the resale market value:
1) phase 12=>13: 50k
2) phase 13=>14b: 150k (no floorplan 3 offered in phase 14a)
3) phase 14b=>14c: 100k

This is 17% in just 2 months. To put things in perspective, those who bought in one of the earliest phases around Dec. 2020, saw a 250k increase across the whole span of a year. Interestingly, also 17% but in 12 months. Now, does this look like a sustainable trajectory?

Since the new home offering price is all caught up now with the resale market value (if you add the 110k for the bonus room to the 14c asking pricing, it will touch 2.3M, the selling price for 104 parakeet), all you need to do is ask yourself if you have reason to believe there is still steam in the market to make another mid-teens profit in the second half of the year, to make it worth your while taking the risk of a quick flip?

Just wanted to point out that plan 3x in phase 14c already has the bonus room included in the $2.11M price 

Yes, phase 14c includes pre-lotted structural upgrades

Plan2X, 2944 sqft, 3951 sqft lot,  price = $2.113M (including conservetory + bonus room)
Plan3X, 3024 sqft, 3951 sqft lot, price = $2.166M  (including bonus room, conservertory not an option)

 

[Yousr]

Price per Sqt wise, plan 3(700$) is better compared to the Plan 1 Resale(825$) noted a few posts above. EW prices have done extremely well so far and could hold up value even if there is market downturn IMO.

Plan 1 is not avaliable in this phase.

Price per sqft for plan 2 is $717) and plan 3 is $716.

I looked at Eastwood 4-br resale last month, the average is $720. I can't see the prices in escrow but it feels like the price is peaking at least short term.

So the new home per sqft is higher than the market price considering the upgrade cost later + interest rate hike in 9 months

Floorplan 3 base price has made the following consecutive jumps quickly to catch up with the resale market value:
1) phase 12=>13: 50k
2) phase 13=>14b: 150k (no floorplan 3 offered in phase 14a)
3) phase 14b=>14c: 100k

This is 17% in just 2 months. To put things in perspective, those who bought in one of the earliest phases around Dec. 2020, saw a 250k increase across the whole span of a year. Interestingly, also 17% but in 12 months. Now, does this look like a sustainable trajectory?

Since the new home offering price is all caught up now with the resale market value (if you add the 110k for the bonus room to the 14c asking pricing, it will touch 2.3M, the selling price for 104 parakeet), all you need to do is ask yourself if you have reason to believe there is still steam in the market to make another mid-teens profit in the second half of the year, to make it worth your while taking the risk of a quick flip?

So it sounds something like this?
plan 3 (~3000 sqft) started $1.6M 12/2020 and grew to $1.85M 11/2021.
Then grew from $1.85M 11/2021 to $2.16M 03/2022

That is a good perspective to have for sure...
Also I think the later phases have smaller lots too ~ all under 4000 sqft, but more expensive than earlier models

Pretty much yes. I bought back in phase 8 (the first one they started to break into sub phases) and up till then the price hikes were anywhere from nonexistent to 15-20k per phase. After which they started experimenting with their 40k hikes and I thought it outrageous then.

For the remaining lots, I think there will be a few more ?special? larger lots on the other side of the street which can accommodate a conservatory for a floorplan 3. But yes, the majority of these lots are <3900 sqft

 

[Yousr]

Price per Sqt wise, plan 3(700$) is better compared to the Plan 1 Resale(825$) noted a few posts above. EW prices have done extremely well so far and could hold up value even if there is market downturn IMO.

Plan 1 is not avaliable in this phase.

Price per sqft for plan 2 is $717) and plan 3 is $716.

I looked at Eastwood 4-br resale last month, the average is $720. I can't see the prices in escrow but it feels like the price is peaking at least short term.

So the new home per sqft is higher than the market price considering the upgrade cost later + interest rate hike in 9 months

Floorplan 3 base price has made the following consecutive jumps quickly to catch up with the resale market value:
1) phase 12=>13: 50k
2) phase 13=>14b: 150k (no floorplan 3 offered in phase 14a)
3) phase 14b=>14c: 100k

This is 17% in just 2 months. To put things in perspective, those who bought in one of the earliest phases around Dec. 2020, saw a 250k increase across the whole span of a year. Interestingly, also 17% but in 12 months. Now, does this look like a sustainable trajectory?

Since the new home offering price is all caught up now with the resale market value (if you add the 110k for the bonus room to the 14c asking pricing, it will touch 2.3M, the selling price for 104 parakeet), all you need to do is ask yourself if you have reason to believe there is still steam in the market to make another mid-teens profit in the second half of the year, to make it worth your while taking the risk of a quick flip?

Just wanted to point out that the plan 3x in phase 14c already has the bonus room included in the $2.11M price 

Are you guys sure about this? Because I have a price sheet for floorplan 3, phase 14c that says for 2.336M with bonus room included. So, I figured they removed the bonus room and readjusted the listing price to the new price. But again, they could have done that and kept the bonus room.

 

[linus]

Price per Sqt wise, plan 3(700$) is better compared to the Plan 1 Resale(825$) noted a few posts above. EW prices have done extremely well so far and could hold up value even if there is market downturn IMO.

Plan 1 is not avaliable in this phase.

Price per sqft for plan 2 is $717) and plan 3 is $716.

I looked at Eastwood 4-br resale last month, the average is $720. I can't see the prices in escrow but it feels like the price is peaking at least short term.

So the new home per sqft is higher than the market price considering the upgrade cost later + interest rate hike in 9 months

Floorplan 3 base price has made the following consecutive jumps quickly to catch up with the resale market value:
1) phase 12=>13: 50k
2) phase 13=>14b: 150k (no floorplan 3 offered in phase 14a)
3) phase 14b=>14c: 100k

This is 17% in just 2 months. To put things in perspective, those who bought in one of the earliest phases around Dec. 2020, saw a 250k increase across the whole span of a year. Interestingly, also 17% but in 12 months. Now, does this look like a sustainable trajectory?

Since the new home offering price is all caught up now with the resale market value (if you add the 110k for the bonus room to the 14c asking pricing, it will touch 2.3M, the selling price for 104 parakeet), all you need to do is ask yourself if you have reason to believe there is still steam in the market to make another mid-teens profit in the second half of the year, to make it worth your while taking the risk of a quick flip?

Just wanted to point out that the plan 3x in phase 14c already has the bonus room included in the $2.11M price 

Are you guys sure about this? Because I have a price sheet for floorplan 3, phase 14c that says for 2.336M with bonus room included. So, I figured they removed the bonus room and readjusted the listing price to the new price. But again, they could have done that and kept the bonus room.

Looking at the phase 14c price list that I have, Plan 3X does have the bonus room in the description and the size is 3024 sqft and the price is $2.166M, but I believe price can always change before it's reserved by the buyer

 

[Danimal]

Price per Sqt wise, plan 3(700$) is better compared to the Plan 1 Resale(825$) noted a few posts above. EW prices have done extremely well so far and could hold up value even if there is market downturn IMO.

Plan 1 is not avaliable in this phase.

Price per sqft for plan 2 is $717) and plan 3 is $716.

I looked at Eastwood 4-br resale last month, the average is $720. I can't see the prices in escrow but it feels like the price is peaking at least short term.

So the new home per sqft is higher than the market price considering the upgrade cost later + interest rate hike in 9 months

Floorplan 3 base price has made the following consecutive jumps quickly to catch up with the resale market value:
1) phase 12=>13: 50k
2) phase 13=>14b: 150k (no floorplan 3 offered in phase 14a)
3) phase 14b=>14c: 100k

This is 17% in just 2 months. To put things in perspective, those who bought in one of the earliest phases around Dec. 2020, saw a 250k increase across the whole span of a year. Interestingly, also 17% but in 12 months. Now, does this look like a sustainable trajectory?

Since the new home offering price is all caught up now with the resale market value (if you add the 110k for the bonus room to the 14c asking pricing, it will touch 2.3M, the selling price for 104 parakeet), all you need to do is ask yourself if you have reason to believe there is still steam in the market to make another mid-teens profit in the second half of the year, to make it worth your while taking the risk of a quick flip?

Just wanted to point out that the plan 3x in phase 14c already has the bonus room included in the $2.11M price 

Are you guys sure about this? Because I have a price sheet for floorplan 3, phase 14c that says for 2.336M with bonus room included. So, I figured they removed the bonus room and readjusted the listing price to the new price. But again, they could have done that and kept the bonus room.

Looking at the phase 14c price list that I have, Plan 3X does have the bonus room in the description and the size is 3024 sqft and the price is $2.166M, but I believe price can always change before it's reserved by the buyer

Yup plan 3 pricing includes bonus room. That?s the same size as mine with bonus room and no conservatory room.

Plan 1 price is outrageous. We would?ve preferred Plan 1 since it fits our family of 4 better. 2500ish sqft home is ideal for us. Rep told us that it?s the most popular model because it?s the cheapest. Our chance of getting one was pretty slim and if we deferred, we may end up paying more for smaller home than current model 3 in later phrases. She was right. 

 

[Danimal]

Does anyone know if Eastwood HOA allows renting the clubhouse for birthday party with Covid and all? If so, do you have any idea how much for Saturday rental? I am planning an event in july after i move in. I tried to find info online or number to call but nothing.

Thanks in advance.

 

[box]

What home insurers are Fresco residents using to provide good coverage at the best price?

Including fire coverage.

 

[Sidehussle]

Does anyone know if Eastwood HOA allows renting the clubhouse for birthday party with Covid and all? If so, do you have any idea how much for Saturday rental? I am planning an event in july after i move in. I tried to find info online or number to call but nothing.

Thanks in advance.

Eastwood clubhouse reservations for members: Carissa Andrus 949-508-1112, jmuck@keystonepacific.com

I don't think there is a resident charge, but Eastwood requires a security deposit and proof of insurance covering the event.

 

[Irvinehomeseeker]

What home insurers are Fresco residents using to provide good coverage at the best price?

Including fire coverage.

Using Lemonade.com

 

[foodisgood]

Anyone have the latest pricing in Eastwood and orchard hills?

 

[Danimal]

Anyone have the latest pricing in Eastwood and orchard hills?

I dont think they are done with phrase 14 yet. Sale rep told me they were working on releasing phrase 14d which offers 1 single story home w/o driveway. After that, they will announce phrase 15 which is on Imagination Trail street.

 

[sleepy5136]

Anyone have the latest pricing in Eastwood and orchard hills?

I dont think they are done with phrase 14 yet. Sale rep told me they were working on releasing phrase 14d which offers 1 single story home w/o driveway. After that, they will announce phrase 15 which is on Imagination Trail street.

wow. single story with no driveway? what's next? zero lot line? 1 car garage? and still call it a SFH? the things builders are not doing are ridiculous. funny thing is, we as buyers can push back on this and not buy. but there are still buyers that will.

 

[huuur]

I heard that single-level 2089 sqft house (3b 2.5b) is priced at $2.3M in phase 14D

 

[Ready2Downsize]

Anyone have the latest pricing in Eastwood and orchard hills?

I dont think they are done with phrase 14 yet. Sale rep told me they were working on releasing phrase 14d which offers 1 single story home w/o driveway. After that, they will announce phrase 15 which is on Imagination Trail street.

wow. single story with no driveway? what's next? zero lot line? 1 car garage door? and still call it a SFH? the things builders are not doing are ridiculous. funny thing is, we as buyers can push back on this and not buy. but there are still buyers that will.

Imo, if there weren't FCB buying in Irvine, there would not be so many tri level homes (I would rather rent than buy a tri level).

Eastwood gets marketed to FCB in China and it's THE place to buy and like sheep they buy in THAT particular neighborhood.

Irvine is always going to be attractive to Chinese but once Irvine is built out and new isn't new any more, it may not get the buying we see now, but who knows?

 

[Danimal]

It?s official Fresco is getting Wolf instead of Kitchenaids. Just got email from IP:

????????

Dear Fresco Eastwood Buyers --

In recent months, you may recall conversations discussing the availability of materials, appliances, and other components that may or may not impact you due to supply chain constraints. For some time now, we have been dealing with an industry-wide issue on appliances, and while KitchenAid was the intended "included" package, there was a high probability that your appliances could be substituted by another brand.

Earlier this week, we released delivery of phase 10's appliances, and so, we wanted to officially notify our buyers that the standard KitchenAid appliances are officially replaced by the Sub-Zero/Wolf package which includes a 36" WOLF burner rangetop, 30" WOLF dual-convection oven, 24" WOLF microwave, 24" Asko dishwasher, and 36" Best rangehood.

Attached, we have included the appliance package for you to review with additional information and details.