Laguna Altura in 2011

NEW -> Contingent Buyer Assistance Program
15 year fixed at 4.8%!!!

if you keep it under $729k, mortgagemarvel.com is quoting 4.0%

amazing, 4.8%.  Highway robbery, really...
 
freedomcm said:
15 year fixed at 4.8%!!!

if you keep it under $729k, mortgagemarvel.com is quoting 4.0%

amazing, 4.8%.  Highway robbery, really...
Click to expand...
Like I said, Bank of America's rates suck.  Whoever at TIC selected them as their preferred lender must either be getting some kind of kick back (Bank of America is a big lender to TIC on the commercial side...I worked at BofA so I know this to be true) or they have brain damage.
 
Aye caramba that 4.8 is spicy. Perhaps it was a rate that was able to be locked in for the length of the build process? We are likely to see rates above 5.0% shortly and locking in something now will seem like a smart move in 180 days when the house is done. Yes, some companies can offer a much lower rate today, but what about at point of delivery of the property?

Yes, BofA and Wells both pay TIC something for being the approved lender. That's how business is done, no matter if they are a biggie or a small fry.  Anyone parked at the sales office is paying a desk rental fee or some sort of back end, post closing marketing fee. No...wait... YOU are paying to have that person sitting there through the higher rates they are charging.

What's always interesting is that the in house lender will quote 4.8, get a GFE from someone else, then magically be able to deliver a market rate. It's also clear that any incentive paid to use the in house lender is not a valuable incentive to begin with. That's why more often than not the incentive isn't towards closing fees but a decorator allowance. It's a huge hassle to get outside flooring or other amenities so you're pretty much stuck with their design center choices that appear to have some kind of builder subsidy if you use their lender. A buyer is trading a 4.8 rate in a 4.2 market just so that they can get the right color and style of marble in the kitchen.

Welcome to the world of new construction. It's not at all like the resale process.

My .02c

Soylent Green Is People.
 
Hmm... the Plan 2 in Cortona has a nicer second floor than Stonegate's Maricopa... they added a tech area between the two bedrooms:

ng93k8.jpg


I feel like akim chain posting here... looks like they added a tech space to the Plan 1 (over the downstairs BR). They should have done that for Maricopa... and they actually can in later phases because it's basically the same footprint/structure.
 
irvinehomeowner said:
Looks like $295 HOAs and one pool for MarkSpitzer in the main park:
http://www.irvinepacific.com/LagunaAltura/Map-and-Amenities.aspx

Supp taxes (MR/CFD/Other) about $5200 for the detached condos and $6100-$6300 for the SFRs.
Click to expand...
Ouch, that Mello Roos is gonna hurt.  That's more than double the MR for the Olivos homes in QH.  I can't image getting an annual property tax bill for $20k/yr.  =X

I wonder how big the lots for the Toscana homes will be.  Plus, that home management space is such a waste and just a scam to pump up the square footage of the home.  These homes might make Quail Hill seem like a bargin. 
 
"Be among the first to purchase in this highly anticipated new Village by taking the next steps to attend our Private Event, which offers the chance to purchase within your preferred neighborhood. Only a limited number of homes will be available per neighborhood and only those who pre-qualify will be eligible to participate in this intimate preview. Put yourself among the fortunate few to own in the Village of Laguna Altura"https://www2.irvinepacific.com/mk/get/reg_lagunaaltura

This marketing speak makes me want to vomit. Buy now or be priced out forever!!!

How about I wait a couple years and pick up a resale in QH for 10-20% less and have a lower MR+HOA to boot!
 
The MR is even worse than I thought, and a near $300 HOA to boot. A lot of foreign cash is going to be flowing back into this country, the trade deficit is closing!
 
I'm wondering if these PDFs have to be updated.

I recall that San Ream-me... er... Remo originally started at low $700k but they revised it to start at high $600k. The PDFs for Plan 1 however has the cheapest one starting at $716k. Unless, of course, those are the requisite Phase 1 upgraded units.

I can't imagine these selling as fast as the 2010 Collection but then again, I didn't think the 2010 Collection would sell at fast as it did. Siena detached condos maxing out at 1788sft for the same prices as Las Ventanas SFRs... what a difference location and a gate makes... although it seems more people wouldn't mind living near the 405 with Laguna Beach proximity vs the toll road with... uh... Great Park proximity?
 
So the traditional SFR in LA will be:

1) Toscona = San Marino (WB)
2) Cortona = Maricopa (SG)

Detatched condos:

1) San Remo = San Marcos (SG)
2) Siena = San Mateo (SG)
Will these be motor court homes?

So I guess TIC feels ~ $200K (plus higher MR+HOA) is the price premium for the location and gated community.
 
irvinehomeowner said:
Hmm... the Plan 2 in Cortona has a nicer second floor than Stonegate's Maricopa... they added a tech area between the two bedrooms:

ng93k8.jpg


I feel like akim chain posting here... looks like they added a tech space to the Plan 1 (over the downstairs BR). They should have done that for Maricopa... and they actually can in later phases because it's basically the same footprint/structure.
Click to expand...

Hey, they changed the Master Bath.. more counter space... no more knee bumping tub and smaller shower..
 
iacrenter said:
Detatched condos:

1) San Remo = San Marcos (SG)
2) Siena = San Mateo (SG)
Will these be motor court homes?
Click to expand...
Each neighborhood page has a site map and both Siena and San Remo are motorcourt setups.
 
iacrenter said:
So I guess TIC feels ~ $200K (plus higher MR+HOA) is the price premium for the location and gated community.
Click to expand...

Well they know the premium is worth much less, but they'd like to siphon as much of your cash as possible by dangling a gate and "almost Laguna Beach" location in front of you.
 
irvinehomeowner said:
I'm wondering if these PDFs have to be updated.

I recall that San Ream-me... er... Remo originally started at low $700k but they revised it to start at high $600k. The PDFs for Plan 1 however has the cheapest one starting at $716k. Unless, of course, those are the requisite Phase 1 upgraded units.

I can't imagine these selling as fast as the 2010 Collection but then again, I didn't think the 2010 Collection would sell at fast as it did. Siena detached condos maxing out at 1788sft for the same prices as Las Ventanas SFRs... what a difference location and a gate makes... although it seems more people wouldn't mind living near the 405 with Laguna Beach proximity vs the toll road with... uh... Great Park proximity?
Click to expand...

And does anyone know why the prices for San Remo are starting in the low 700's when the website says "starting mid 600's"??
 
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