La Vita at Orchard Hills

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In the past few months? Lot 7 fell out due to financing issue, it finally sold earlier this month.  Lots 33 and 42 fell out and are currently available.  Lots 30 and 35 looks little shaky at the moment.  Lots 63 and 69 fell out of escrow but finally sold.  Lot 72 (1 Sunset) fell out of escrow, but now it's pending this week.  Lot 39 fell out also, but sold this month.

But, this development is about to sell out soon though.

Btw, which lot is going to fall off soon?  Can you share?




 
Goriot said:
In the past few months? Lot 7 fell out due to financing issue, it finally sold earlier this month.  Lots 33 and 42 fell out and are currently available.  Lots 30 and 35 looks little shaky at the moment.  Lots 63 and 69 fell out of escrow but finally sold.  Lot 72 (1 Sunset) fell out of escrow, but now it's pending this week.  Lot 39 fell out also, but sold this month.

But, this development is about to sell out soon though.

Btw, which lot is going to fall off soon?  Can you share?
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I believe lot 41 is falling out of escrow...  amazing to see so many falling out of escrow.  Something going on here?  I havent heard of other developments with so many falling out.  BTW didnt you buy here?  Is this how you have the inside scoop on this development?
 
hello said:
Goriot said:
In the past few months? Lot 7 fell out due to financing issue, it finally sold earlier this month.  Lots 33 and 42 fell out and are currently available.  Lots 30 and 35 looks little shaky at the moment.  Lots 63 and 69 fell out of escrow but finally sold.  Lot 72 (1 Sunset) fell out of escrow, but now it's pending this week.  Lot 39 fell out also, but sold this month.

But, this development is about to sell out soon though.

Btw, which lot is going to fall off soon?  Can you share?
Click to expand...

I believe lot 41 is falling out of escrow...  amazing to see so many falling out of escrow.  Something going on here?  I havent heard of other developments with so many falling out.  BTW didnt you buy here?  Is this how you have the inside scoop on this development?
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I get info from both the sales and by looking at the lot map movement from Brooksfield website.  Lot 41 is a plan 1 with weird angle backyard.  If lot 41 does fall off than it means all three plan 1s in that phase fell out although one just sold.  A lot of plan 1 falling off lately. Inventory seems like it's moving though.
 
nice home La Vita!
Despite, many people do not like the motor court, I think this is a good they for this developer.

Man, Think as a developer, You will take risk for doing a new style homes.
In this case, La Vita was succeeded.

Personally, I do not like the floor plan... So I walk away.
 
Out of the 8 home builders, it seems like Trevia, Amelia and La Vita are the most successful. The piazzas/motorcourts in La Vita seem to be a distinguishing feature. Most of them are rather large. They are almost sold out so you can't deny the success they are having.

I heard that the model homes will be selling for a ridiculous price (i.e. Plan 4 fully loaded at $3.5 Million)......it'll make all of those previous plan 4 buyers feel like they got a bargain.

Happy House Hunting!
 
Model Homes at La Vita released today.  Move-in Fall 2016.  Following are the prices:

Plan 1 (View) - $2.5 million
Plan 2 (View ) - $2.75 million
Plan 3 (No View) - $2.25 million
Plan 4 (View) - $3.5 million
 
Goriot said:
Model Homes at La Vita released today.  Move-in Fall 2016.  Following are the prices:

Plan 1 (View) - $2.5 million
Plan 2 (View ) - $2.75 million
Plan 3 (No View) - $2.25 million
Plan 4 (View) - $3.5 million
Click to expand...
Very interesting, but not surprising. The plan 4 is on the biggest lot in La Vita, at 12,580 sqft. Does anyone know how much the last Trevi houses with views sold for? For the sake of comparison.
 
That's insane!!!


Villager said:
Goriot said:
Model Homes at La Vita released today.  Move-in Fall 2016.  Following are the prices:

Plan 1 (View) - $2.5 million
Plan 2 (View ) - $2.75 million
Plan 3 (No View) - $2.25 million
Plan 4 (View) - $3.5 million
Click to expand...
Very interesting, but not surprising. The plan 4 is on the biggest lot in La Vita, at 12,580 sqft. Does anyone know how much the last Trevi houses with views sold for? For the sake of comparison.
Click to expand...
 
Aspanbay said:
Goriot said:
Model Homes at La Vita released today.  Move-in Fall 2016.  Following are the prices:

Plan 1 (View) - $2.5 million
Plan 2 (View ) - $2.75 million
Plan 3 (No View) - $2.25 million
Plan 4 (View) - $3.5 million
Click to expand...
Very interesting, but not surprising. The plan 4 is on the biggest lot in La Vita, at 12,580 sqft. Does anyone know how much the last Trevi houses with views sold for? For the sake of comparison.
Click to expand...
[/quote]
 
Aspanbay said:
Who's going to pay $3.5mil on this? That's insane!!!


Villager said:
Goriot said:
Model Homes at La Vita released today.  Move-in Fall 2016.  Following are the prices:

Plan 1 (View) - $2.5 million
Plan 2 (View ) - $2.75 million
Plan 3 (No View) - $2.25 million
Plan 4 (View) - $3.5 million
Click to expand...
Very interesting, but not surprising. The plan 4 is on the biggest lot in La Vita, at 12,580 sqft. Does anyone know how much the last Trevi houses with views sold for? For the sake of comparison.
Click to expand...
Click to expand...

Well they're not pulling the price out of nowhere. It's a matter of supply and demand. They have a huge waiting list just for the plan 4. If the first person on the waiting list isn't willing to pay that much, they'll just go to the next person (and so on). And like I said before, the buyer would be paying for the land as well; the lot is significantly larger than most of the home lots in Irvine, let alone Orchard Hills.
 
the lot size can't justify the price. whoever buys this home at this price better live there for a long time!


Villager said:
Aspanbay said:
Who's going to pay $3.5mil on this? That's insane!!!


Villager said:
Goriot said:
Model Homes at La Vita released today.  Move-in Fall 2016.  Following are the prices:

Plan 1 (View) - $2.5 million
Plan 2 (View ) - $2.75 million
Plan 3 (No View) - $2.25 million
Plan 4 (View) - $3.5 million
Click to expand...
Very interesting, but not surprising. The plan 4 is on the biggest lot in La Vita, at 12,580 sqft. Does anyone know how much the last Trevi houses with views sold for? For the sake of comparison.
Click to expand...
Click to expand...

Well they're not pulling the price out of nowhere. It's a matter of supply and demand. They have a huge waiting list just for the plan 4. If the first person on the waiting list isn't willing to pay that much, they'll just go to the next person (and so on). And like I said before, the buyer would be paying for the land as well; the lot is significantly larger than most of the home lots in Irvine, let alone Orchard Hills.
Click to expand...
 
Well. The developer had no problem selling "bare bone" plan 4s for $2.8 million and $2.7 million on the last phase.  Model home has a lot of upgrades including beautiful pool and landscaping.  I am sure they will find a buyer for $3.5 million all in.  You just need one emotional buyer who don't care about few millions here and there~
 
I'm with aquabliss- I'd rather buy that shady canyon home.  But the price on that model isn't actually that ridiculous. If the last plan 4 sold for 2.8m, you could easily add 300k for upgrades, 300k for the finished yard, and another 100k for furniture. I'm betting it would actually cost more that 3.5m to duplicate the model if your base price was 2.8m.
 
Then $2.8mil for plan4 was insane! Personally, over 2mil for motor court La Vita sounds crazy to me. Nothing so special about plan4 floor plan. Just wondering what makes plan4 popular. Expectation for resale must have made buyer to move forward with this plan. Will there be enough buyers who would pay over 3mil on this plan once that expectation becomes history?


OC-Broker said:
I'm with aquabliss- I'd rather buy that shady canyon home.  But the price on that model isn't actually that ridiculous. If the last plan 4 sold for 2.8m, you could easily add 300k for upgrades, 300k for the finished yard, and another 100k for furniture. I'm betting it would actually cost more that 3.5m to duplicate the model if your base price was 2.8m.
Click to expand...
 
Aspanbay said:
Then $2.8mil for plan4 was insane! Personally, over 2mil for motor court La Vita sounds crazy to me. Nothing so special about plan4 floor plan. Just wondering what makes plan4 popular. Expectation for resale must have made buyer to move forward with this plan. Will there be enough buyers who would pay over 3mil on this plan once that expectation becomes history?


OC-Broker said:
I'm with aquabliss- I'd rather buy that shady canyon home.  But the price on that model isn't actually that ridiculous. If the last plan 4 sold for 2.8m, you could easily add 300k for upgrades, 300k for the finished yard, and another 100k for furniture. I'm betting it would actually cost more that 3.5m to duplicate the model if your base price was 2.8m.
Click to expand...
Click to expand...

Take the Chinese buyer out of the equation and you will likely not find many buyers for this.  The Chinese spurred on a home buying frenzy in Irvine the last few years.  Their reasons for buying a home, as well as their limitations from home buying were much different from the organic buyers typically seen.  Now that Chinese buying is slowing down, I suspect that even the organic homegrown buyers who can afford these homes will reconsider as well.  Buying spurs on buying and selling spurs on selling.  Most people are lemmings and that is just typical market mentality.
 
I am an organic homegrown buyer.  Escrow have been falling off on few LaVita homes in the past 3 phases.  I was a bit wishy-washy lately with market volatility, but decided to push through with a low jumbo rate at around 3.3% / 0pt.  Hope it stays that way for 3 more months when I can lock.  After all set and done including tax deductibles on interest and property tax, my housing cost is lower than renting a comparable place.  Who cares and who knows about short-term trend as I will be here 15+ years with my low fixed payment.  I will be very happy with 1.5% to 2% annual appreciation on avg. in the next 20 years.  With the leverage it will be 3%+ that is better then my after-tax return on dividends/interest income=).  If it tanks 30%, then oh well. Gotta live somewhere.

 
I bought a plan 4 and have to say that the layout is the best out of all the homes I have owned.

What features do I like?
1. Master bedroom is separated from the rest of the house. No rooms above on the 2nd floor = peace when I want it.
2. Huge great room; again, given the vaulted ceilings there are no rooms above that lead to noise when you're relaxing watching the latest episode of "Flip or Flop" or "Property Brothers".
3. Kids upstairs with a loft is very functional. They have their own area to decompress without adults on them all of the time.
4. Garage with no rooms above it means my wife can't tell me to park my car outside when I come home and the baby is sleeping. His room is in the back.

The layout is so thoughtful. I have had many contractors come through complimenting the layout.

Are there some areas I would have done things a little differently? Sure. I would have liked a separate man cave...I thought the stairs to the second floor via the courtyard was a little odd...it should have led to a casita so I could stick my parents in there when they visit.

For the naysayers of the piazza/motorcourt, I must have lucked out. All the neighbors are quiet, considerate and polite. I love watching my kids ride their bikes in the piazza without worrying about the main road.

Agree that $3.5 million is outrageous and for that coin, I would likely buy elsewhere. That said, I love that somebody will pay that amount because I have a comparable sale and I can guarantee that I paid much less than that with upgrades comparable (and in some cases better) to that of the model.

My personal bias but Brookfield did a great job with the landscaping. Great consistency throughout each piazza.

Anyway, with the final sales, I'll miss the negative comments in this forum. =)
 
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