Laguna Altura in 2011

[IndieDev]

- broker co-ops by June 1
- design center credits by July 15
- price drop by September 15

- Squatters invade by October 15
- Irvine PD tear gas raids by December 15

 

[usctrojancpa]

- broker co-ops by June 1
- design center credits by July 15
- price drop by September 15

Let's summarize the other iPac developments for 2011...

San Marino models open on March 19th...broker co-op e-mail sent on April 27th (38 days)
Stonegate models open on April 9th...broker co-op e-mail sent on May 13th (34 days)

So that leaves Laguna Altura...Laguna Altura models open on May 15th....broker co-op e-mail to be sent on June 24th (my prediction)

 

[usctrojancpa]

So IHO, I have a question for you....since Laguna Altura is by the 405 (super busy freeway) and the 133 "free" toll road it but below both it deserves a 20-25% premium in pricing compared to Portola Springs?  You probably get more pollution from the 405/133 than you do from the 241 due to the much higher traffic count but I guess since you can't see it you can pretend it's not there behind the gates?  haha

 

[irvinehomeowner]

No... I don't think it's worth the 20-25% premium... esp since they recycled the same floorplans.

I can't speak to levels of pollution but I do feel the area near Laguna Canyon is nicer than Portola Springs. Do you think Quail Hill is better than Woodbury/Stonegate/PS?

 

[usctrojancpa]

No... I don't think it's worth the 20-25% premium... esp since they recycled the same floorplans.

I can't speak to levels of pollution but I do feel the area near Laguna Canyon is nicer than Portola Springs. Do you think Quail Hill is better than Woodbury/Stonegate/PS?

I think that since Laguna Altura is elevated above the 405 and 133 it is "nicer" than Portola since you can see the toll road from Portola.  How would you feel if Portola was elevated above the 241 while the 405 and the 133 were above Laguna Altura and you could see them from LA?

In my opinion, Quail Hill > Portola Springs/Laguna Altura (if Laguna Altura was at Stonegate pricing I'd put it ahead of PS) > Woodbury > Stonegate > Woodbury East > Stonegate East

 

[iacrenter]

Saw the homes today. I was impressed by the foot traffic and increased demographic diversity--haven't seen so many Caucasians in Irvine for quite some time--must be that Laguna Beach vibe. All that extra Mello Roos and padded pricing paid for all the shuttle buses carrying the masses back and forth across the 133 to the remote parking lot.

Pluses:
+Impressive looking guard gated entry with lots of trees
+Feels isolated inside the bowl
+Some homes will have views
+Uni High district

Negatives:
-The community doesn't feel luxury to me (esp for that extra $200K).  The pool and club house look plain and small versus the luxury setup at WB. Not enough pocket parks for the community. And only one damn pool--come on so cheap!
-Noise from the 133. Yes it is quieter at Siena & San Remo versus Cortona but still you can hear the 133 drone from all parts of the bowl
-Same old iPac floor plans, need something fresh and new for this higher price point
-Typical postage stamps lots
-Obstructed views by super high dirt berms
-Exit gate has only ONE lane; this will create a lot of traffic getting out of the community especially since there will be only one exit route for quite some time until they complete the Lake Forrest Drive extension. Yet another example of LA being cheap on building that 2nd gate and lane.
-High MR & HOA

I just can't see these selling quickly. Too many drawbacks unless you feel compelled to live in a guard gated bowl and can't afford Shady. I would rather just buy resale in QH--better value but older floor plans.

 

[irvinehomeowner]

I think that since Laguna Altura is elevated above the 405 and 133 it is "nicer" than Portola since you can see the toll road from Portola. 

That's what I said. So you kind of answered your own question.

How would you feel if Portola was elevated above the 241 while the 405 and the 133 were above Laguna Altura and you could see them from LA?

I still think the LA area is nicer but then again, I prefer the southern part of Irvine. If the 241 was not as obtrusive, PS prices might be higher (as they were during the bubble).

Let's use a closer comparison... would you buy a Los Colinas for $1m+ or a Cortona for $1m+?

 

[usctrojancpa]

I think that since Laguna Altura is elevated above the 405 and 133 it is "nicer" than Portola since you can see the toll road from Portola. 

That's what I said. So you kind of answered your own question.

How would you feel if Portola was elevated above the 241 while the 405 and the 133 were above Laguna Altura and you could see them from LA?

I still think the LA area is nicer but then again, I prefer the southern part of Irvine. If the 241 was not as obtrusive, PS prices might be higher (as they were during the bubble).

Let's use a closer comparison... would you buy a Los Colinas for $1m+ or a Cortona for $1m+?

If I was looking to buy that size of a home and I wanted something new, I would select Los Colinas over Cortona.  Part of the reason I like Portola is that it's the only village priced for potential future appreciation (when it's finally all built out).  LA is priced for perfection kind of like a momo stock like Netflix.

 

[shadax]

I think that since Laguna Altura is elevated above the 405 and 133 it is "nicer" than Portola since you can see the toll road from Portola. 

That's what I said. So you kind of answered your own question.

How would you feel if Portola was elevated above the 241 while the 405 and the 133 were above Laguna Altura and you could see them from LA?

I still think the LA area is nicer but then again, I prefer the southern part of Irvine. If the 241 was not as obtrusive, PS prices might be higher (as they were during the bubble).

Let's use a closer comparison... would you buy a Los Colinas for $1m+ or a Cortona for $1m+?

If I was looking to buy that size of a home and I wanted something new, I would select Los Colinas over Cortona.  Part of the reason I like Portola is that it's the only village priced for potential future appreciation (when it's finally all built out).  LA is priced for perfection kind of like a momo stock like Netflix.

You keep saying that, I'm curious as to why you think so? 

 

[usctrojancpa]

I think that since Laguna Altura is elevated above the 405 and 133 it is "nicer" than Portola since you can see the toll road from Portola. 

That's what I said. So you kind of answered your own question.

How would you feel if Portola was elevated above the 241 while the 405 and the 133 were above Laguna Altura and you could see them from LA?

I still think the LA area is nicer but then again, I prefer the southern part of Irvine. If the 241 was not as obtrusive, PS prices might be higher (as they were during the bubble).

Let's use a closer comparison... would you buy a Los Colinas for $1m+ or a Cortona for $1m+?

If I was looking to buy that size of a home and I wanted something new, I would select Los Colinas over Cortona.  Part of the reason I like Portola is that it's the only village priced for potential future appreciation (when it's finally all built out).  LA is priced for perfection kind of like a momo stock like Netflix.

You keep saying that, I'm curious as to why you think so? 

Because that's what I believe.  It's based upon the pricing levels for me.  Once the dust settles on all these newer villages, it's hard for me believe that Woodbury and Stonegate will trade at a 10-15% premium price compared to Portola Springs.  Unlike others who just talk, I'm willing to put my money where my mouth is. 

 

[blitzjs]

I think you guys need to go there to actually discern the distance from the 133/405.

Interestingly enough, the area closer to the 405, Siena and San Remo seemed the quietest because they were higher up from the 133.

The homes in Cortona that back the 133 have the most noise and I feel bad for anyone spending $9xx+ there because you can hear it in the backyard and moreso on the 2nd floor. As much noise as there is from vehicles traveling at 50+ mph... also imagine the starting and stopping of those vehicles because of the light.

But noise aside, I was really surprised how nice the area is. When you're on the detached condo side, you really feel isolated from everything and you have great views 360 of hills etc. The landscaping is really good as it feels upscale. It's lame they cut down the number of parks/pools as the detached condos are very far from the main park but at least the secondary park with the bball court is close by. It's interesting for these tracts as they are kind of walled in by each area so it's almost like they have double walls... the primary streets are basically wall one one side and berm on the other.

As for the homes, if you've been to Stonegate/SGE/San Marino in Woodbury... you've seen these. There are slight changes in the detached condos but Cortona got the most where they addressed my main complaint about Maricopa, additional upstairs living space. I think people should really complain that Stonegate should get the same floorplans as they are much more functional.

If you compare Portisol in QH (same price range) to Cortona, Cortona wins for the more spacious floorplans but Portisol has better locations and cul-de-sac streets. Bang for the buck, if I had $1m+ to spend, I would wait for a Tapestry in QH over Cortona, but that Cortona Plan 2 is really nice.

I have to admit... the siren call of the new home smell and the location (I prefer living in the 405 area of Irvine) had me wondering if I could settle for a detached San Remo condo... it's just not really a move up from our current home other than the location (and we lose a driveway, an upstairs laundry sink and additional living spaces). What makes it worse is you're looking at $100k more in price and double the HOA over the same floorplans in Stonegate ($200k more for Cortona over Maricopa). MRs are almost the same (which was suprising) but taxes overall will be more because of the price.

I really think TIC could have spare 4 lots of homes in between San Remo and Siena to give that area its own inside tract park... even a little bit more for a pool ala Woodbury. Considering how much of a premium they are charging... it would have been nice to have that extra area. Think about it... all those homes only share one pool. How many other newer places in Irvine are like that?

It was really crowded... we didn't go until after 3pm hoping to avoid the early rush but there was a steady flow even at that time. And it was way more mixed than Woodbury/Stonegate was. I guess elevated homes "near" Laguna Beach ends up with a better diversity of interest.

Other than the SFRs that immediately back the 133... you really don't notice it but you should check it our yourself. It does make me favor being above a main road than below one like at Las Ventanas.

We went there yesterday late in the afternoon and were pretty surprised at the amount of people there.  We also thought because of the proximity of both the 405 and the 133 (which is basically the reason we're not going to LV), we'd hate LA, not to mention the crazy premium compared to SG and WB.  However, once we got in we quite liked the feel.  The guard gate is a nice touch, reminds us of the Country in Diamond Bar and kind of takes your attention away from the 133.  Compared to PS, not being able to actually see the freeway is a huge plus but I could hear road noise in most of the tracts.

Instead of taking the shuttle from tract to tract, we chose to walk and the community definitely feels different from any of the other communities we've looked it (in a good way).  However, that doesn't change the fact that its so close to the 405 and I don't think its worth the 100k+ premium compared to their SG/WB counterparts.

I'm pretty disappointed in Irvine Pacific's decision to recycle the same floor plans across so many communities (not to mention their pricing  )

 

[shadax]

I think that since Laguna Altura is elevated above the 405 and 133 it is "nicer" than Portola since you can see the toll road from Portola. 

That's what I said. So you kind of answered your own question.

How would you feel if Portola was elevated above the 241 while the 405 and the 133 were above Laguna Altura and you could see them from LA?

I still think the LA area is nicer but then again, I prefer the southern part of Irvine. If the 241 was not as obtrusive, PS prices might be higher (as they were during the bubble).

Let's use a closer comparison... would you buy a Los Colinas for $1m+ or a Cortona for $1m+?

If I was looking to buy that size of a home and I wanted something new, I would select Los Colinas over Cortona.  Part of the reason I like Portola is that it's the only village priced for potential future appreciation (when it's finally all built out).  LA is priced for perfection kind of like a momo stock like Netflix.

You keep saying that, I'm curious as to why you think so? 

Because that's what I believe.  It's based upon the pricing levels for me.  Once the dust settles on all these newer villages, it's hard for me believe that Woodbury and Stonegate will trade at a 10-15% premium price compared to Portola Springs.  Unlike others who just talk, I'm willing to put my money where my mouth is. 

Do you consider PS' location at all inferior to SG/WB, if only marginally?  I know they're fairly close to one another.

 

[sonoma]

Did anybody notice that all the sales reps were tall, thin blonds?  Just an observation. 

 

[usctrojancpa]

I think that since Laguna Altura is elevated above the 405 and 133 it is "nicer" than Portola since you can see the toll road from Portola. 

That's what I said. So you kind of answered your own question.

How would you feel if Portola was elevated above the 241 while the 405 and the 133 were above Laguna Altura and you could see them from LA?

I still think the LA area is nicer but then again, I prefer the southern part of Irvine. If the 241 was not as obtrusive, PS prices might be higher (as they were during the bubble).

Let's use a closer comparison... would you buy a Los Colinas for $1m+ or a Cortona for $1m+?

If I was looking to buy that size of a home and I wanted something new, I would select Los Colinas over Cortona.  Part of the reason I like Portola is that it's the only village priced for potential future appreciation (when it's finally all built out).  LA is priced for perfection kind of like a momo stock like Netflix.

You keep saying that, I'm curious as to why you think so? 

Because that's what I believe.  It's based upon the pricing levels for me.  Once the dust settles on all these newer villages, it's hard for me believe that Woodbury and Stonegate will trade at a 10-15% premium price compared to Portola Springs.  Unlike others who just talk, I'm willing to put my money where my mouth is. 

Do you consider PS' location at all inferior to SG/WB, if only marginally?  I know they're fairly close to one another.

I consider them to be equal...positive for Portola is that is is less dense with some elevation offset by the negative of being near the told road.

 

[usctrojancpa]

Did anybody notice that all the sales reps were tall, thin blonds?  Just an observation. 

MEH...That's cool if you're into that sort of thing.  I should tell my friend to go, he loves tall, thin blondes.  haha

 

[irvinehomeowner]

We went there yesterday late in the afternoon and were pretty surprised at the amount of people there.  We also thought because of the proximity of both the 405 and the 133 (which is basically the reason we're not going to LV), we'd hate LA, not to mention the crazy premium compared to SG and WB.  However, once we got in we quite liked the feel.  The guard gate is a nice touch, reminds us of the Country in Diamond Bar and kind of takes your attention away from the 133.  Compared to PS, not being able to actually see the freeway is a huge plus but I could hear road noise in most of the tracts.

Instead of taking the shuttle from tract to tract, we chose to walk and the community definitely feels different from any of the other communities we've looked it (in a good way).  However, that doesn't change the fact that its so close to the 405 and I don't think its worth the 100k+ premium compared to their SG/WB counterparts.

We did the same thing... we figured it would be good to see the area, to judge the distance from tract to tract and it was better than waiting in line for the next shuttle (although the waits weren't that long).

I'm pretty disappointed in Irvine Pacific's decision to recycle the same floor plans across so many communities (not to mention their pricing  )

Well... if they recycled the pricing from Stonegate to LA... they would probably sell very quickly. I just don't understand how they can justify the premiums... not only the jump from similar models in Stonegate to LA, but also the jumps from plan to plan within their tracts. For example, San Remo, the same floorplans for the San Marcos detached condos in Stonegate that start at $600k, starts at $728k for Plan 1, jumps to $760k and then to low $800k for Plan 3... and there is only 100-150sft difference between each model.

 

[blitzjs]

Did anybody notice that all the sales reps were tall, thin blonds?  Just an observation. 

Didn't really notice except I recognized one of the blondes from San Marino

 

[IndieDev]

Unlike others who just talk, I'm willing to put my money where my mouth is. 

I bet you $10,000 LA will sellout by 2038.

 

[shadax]

I think that since Laguna Altura is elevated above the 405 and 133 it is "nicer" than Portola since you can see the toll road from Portola. 

That's what I said. So you kind of answered your own question.

How would you feel if Portola was elevated above the 241 while the 405 and the 133 were above Laguna Altura and you could see them from LA?

I still think the LA area is nicer but then again, I prefer the southern part of Irvine. If the 241 was not as obtrusive, PS prices might be higher (as they were during the bubble).

Let's use a closer comparison... would you buy a Los Colinas for $1m+ or a Cortona for $1m+?

If I was looking to buy that size of a home and I wanted something new, I would select Los Colinas over Cortona.  Part of the reason I like Portola is that it's the only village priced for potential future appreciation (when it's finally all built out).  LA is priced for perfection kind of like a momo stock like Netflix.

You keep saying that, I'm curious as to why you think so? 

Because that's what I believe.  It's based upon the pricing levels for me.  Once the dust settles on all these newer villages, it's hard for me believe that Woodbury and Stonegate will trade at a 10-15% premium price compared to Portola Springs.  Unlike others who just talk, I'm willing to put my money where my mouth is. 

Do you consider PS' location at all inferior to SG/WB, if only marginally?  I know they're fairly close to one another.

I consider them to be equal...positive for Portola is that is is less dense with some elevation offset by the negative of being near the told road.

To the people who will be using the 5 Freeway in their daily commute, wouldn't living on the Jeffrey side of WB (like, say, Carmel) be superior compared to having to take Sand Canyon all the way down?

I guess another thing I would watch for when the dust settles is how long it takes to get to the 5 from PS on weekdays at 7-9 a.m.

 

[usctrojancpa]

I think that since Laguna Altura is elevated above the 405 and 133 it is "nicer" than Portola since you can see the toll road from Portola. 

That's what I said. So you kind of answered your own question.

How would you feel if Portola was elevated above the 241 while the 405 and the 133 were above Laguna Altura and you could see them from LA?

I still think the LA area is nicer but then again, I prefer the southern part of Irvine. If the 241 was not as obtrusive, PS prices might be higher (as they were during the bubble).

Let's use a closer comparison... would you buy a Los Colinas for $1m+ or a Cortona for $1m+?

If I was looking to buy that size of a home and I wanted something new, I would select Los Colinas over Cortona.  Part of the reason I like Portola is that it's the only village priced for potential future appreciation (when it's finally all built out).  LA is priced for perfection kind of like a momo stock like Netflix.

You keep saying that, I'm curious as to why you think so? 

Because that's what I believe.  It's based upon the pricing levels for me.  Once the dust settles on all these newer villages, it's hard for me believe that Woodbury and Stonegate will trade at a 10-15% premium price compared to Portola Springs.  Unlike others who just talk, I'm willing to put my money where my mouth is. 

Do you consider PS' location at all inferior to SG/WB, if only marginally?  I know they're fairly close to one another.

I consider them to be equal...positive for Portola is that is is less dense with some elevation offset by the negative of being near the told road.

To the people who will be using the 5 Freeway in their daily commute, wouldn't living on the Jeffrey side of WB (like, say, Carmel) be superior compared to having to take Sand Canyon all the way down?

I guess another thing I would watch for when the dust settles is how long it takes to get to the 5 from PS on weekdays at 7-9 a.m.

So then Orchard Hills should also have some kind of discount from Northpark/Northwood since it will take longer from there to get to the 5 freeway?  Why does Turtle Ridge trade at a higher price than Quail Hill since it is a good distance away from the 405 and you have to deal with all the UCI/Uni High traffic going up Culver to the get to the 405?  Your logic is a bit flawed.