Great Park - Rise Park - District 5 North

NEW -> Contingent Buyer Assistance Program
Soylent Green Is People said:
It brings up an interesting question (to me at least...) What percentage of these sold and closed homes are "parked money purchases"? Example: The Toll Bros. Parkside development in Lake Forest sold fairly quickly given the terrible location. I'd say over 20 percent of the homes remain vacant a year since the last home was sold in the tract. (No flights, no ad drop/front door tag pickups, the usual signs of a vacant home)  Many properties in the community were FCB purchases, parking funds for an eventual resale down the line.

A 20 percent property vacancy is pretty high for any development. Is this occurring in any of the other new no build communities?

My .02c
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I've noticed more FCB's are now renting out their vacant homes.  Our row of homes has 9 units. Initially 3 were owner occupied including us with 1 rental. 2 sat empty for 2 years. The rest were used like vacation homes, the owners probably came 1-2x/year, stayed maybe a week or less. Now it's still 3 owner occupied, 3 rentals, 1 for sale, 2 vacation homes.
 
Agent Joe said:
Starting prices posted:https://www.greatparkneighborhoods.com/homes.

Agree that it's interesting they are already releasing a new development when Cadence and Novel are still being sold. Hope they build a new shopping plaza soon to alleviate Woodbury Town Center.
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Most of the sub $1m homes in Cadence Park have been sold, it's the higher priced SFRs like Capella and Cresendo ($1.5m+ homes) that are still sitting around.
 
Agent Joe said:
Starting prices posted:https://www.greatparkneighborhoods.com/homes.

Agree that it's interesting they are already releasing a new development when Cadence and Novel are still being sold. Hope they build a new shopping plaza soon to alleviate Woodbury Town Center.
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Capella is currently sold out. I just sold a crescendo and there's only one or two left. Cadence is basically sold out with few if any of the neighborhoods having phases left. Ill double check. Novel offers a different product line and feel to Rise.

 
Dr. CA Real Estate said:
Agent Joe said:
Starting prices posted:https://www.greatparkneighborhoods.com/homes.

Agree that it's interesting they are already releasing a new development when Cadence and Novel are still being sold. Hope they build a new shopping plaza soon to alleviate Woodbury Town Center.
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Capella is currently sold out. I just sold a crescendo and there's only one or two left. Cadence is basically sold out with few if any of the neighborhoods having phases left. Ill double check. Novel offers a different product line and feel to Rise.
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Good to know. I am certain that those that bought those are organic buyers and putting their roots down. The relatively low existing available homes on MLS is a good indicator that supplies is tights. Interesting time overall for housing amid all these events.
 
Compressed-Village said:
Dr. CA Real Estate said:
Agent Joe said:
Starting prices posted:https://www.greatparkneighborhoods.com/homes.

Agree that it's interesting they are already releasing a new development when Cadence and Novel are still being sold. Hope they build a new shopping plaza soon to alleviate Woodbury Town Center.
Click to expand...
Capella is currently sold out. I just sold a crescendo and there's only one or two left. Cadence is basically sold out with few if any of the neighborhoods having phases left. Ill double check. Novel offers a different product line and feel to Rise.
Click to expand...

Good to know. I am certain that those that bought those are organic buyers and putting their roots down. The relatively low existing available homes on MLS is a good indicator that supplies is tights. Interesting time overall for housing amid all these events.
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It's definitely a feast or famine market. Many sellers are either pulling listings or delaying them (I have 3 that I told the sellers told off until further notice).  Then there are active buyers looking to buy a home with less buyer competition.
 
Anyone that hasn't done a video tour or gone to look in person I recommend it from architecture stand point. The Almerias and Montairs collections from Lennar  are quite nice to look at for detached condos.
 
NHC is doing a nice collection at Rise Park called Atlas. Website is up now. I wonder if they will also have driveways like Apex. Their pricing suggest they should.
 
Dr. CA Real Estate said:
https://www.nwhm.com/region/orange-county/atlas-rise-great-park-neighborhoods

They updated their website and put in the site map. Good floorpans. The plan two is designed for that multi-gen living.
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I was looking at the floorplans the other day and was really impressed. I like that the designs are completely different than what's currently offered. Typically, I like The New Home Company and their homes. It looks like they did a great job with Atlas.
 
irviniteeee said:
Dr. CA Real Estate said:
https://www.nwhm.com/region/orange-county/atlas-rise-great-park-neighborhoods

They updated their website and put in the site map. Good floorpans. The plan two is designed for that multi-gen living.
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I was looking at the floorplans the other day and was really impressed. I like that the designs are completely different than what's currently offered. Typically, I like The New Home Company and their homes. It looks like they did a great job with Atlas.
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Don?t think I?ve ever been disappointed in a NHC floorplan
 
Nice to see something new rather than IP's boring layouts. TNHC does a good job but I'm wondering if these homes have a yard. Looking at the street map it appears the front door will be facing a community paseo. The rear of the house will allow for a ?full size driveway and alleyway access. I'm guessing they will build a wall between homes and around the back of the house. Looks pretty small to me.
 
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