Las Ventanas by Taylor Morrison at Portola Springs
- Thread starter irvineresident
- Start date
NEW -> Contingent Buyer Assistance Program
Major road? I don't see how Portola Pkwy can be compared to Culver, Jamboree, Irvine Blvd or any other major road.
And there is another way out of PS other than Portola and the toll road. Its not major, but it quickly shoots you to Irvine Blvd without traffic lights.
True it isn't Culver, but you will still get more noise and traffic than if you were further back in the community. Also, I would have my doubts that most people in PS are going to go to Irvine Blvd to the 5 instead of taking portola. Going from Sand Canyon will likely always be the best way in/out.
I used to think that but now that we are 5 years out from the peak... while there is still some drops I don't think there is room for a 30% drop in Irvine (this is based on a general 20% that has already happened and the predicted 50%+ Irvine is supposed to correct to).
Part of the problem is unlike other cities, Irvine has new construction that keeps the benchmarks from dropping as fast. As BK said... it's going to take an entire village to start selling at 50% off before that ever becomes the norm, and by that time... things may adjust to where they won't need to.
Do you think that Lambert Ranch is going to sell new 4/3 SFRs at $500k next year? How about Heritage Fields at the Great Park? Or Orchard Hills? How is that going to ripple out to surrounding cities when you can buy brand new homes in Irvine for less than their older homes?
And don't get me wrong... I'm not trying to say now is the time to buy. I'm just trying to be realistic as to how much more can the prices drop in Irvine.
If 2000sft 4/3s hit the sub-$500k mark, that's good for me because that's means newer 5/3 3CWGs should hit the $600k mark... I'm just not sure that's going to happen in the next 5 years because TIC keeps setting the baseline with their new builds... but maybe The New Home Company and 5 Points will change that.
I agree that you won't see the drop quickly. I think TIC is doing their damnedest to keep prices up kinda like the QE stuff the govt did. Try to combat deflation with inflation right? If there is something that is telling in my opinion it is that prices on new home have gone down a bit over this summer (via incentives and whathaveyou) while the rest of the nation for the most part went up (even if was just a very little bit). That furthers the notion that "Irvine is special", just not that is doing well. The thought that homes in Irvine are 2~3 times what they were 11 years ago is absurd though.
yes, can you provide the details please? I'm on their priority list and I didn't get this email.
irvinehomeowner
Well-known member
I understand the freeway factor... but if you're looking for a brand new SFR in Irvine, you're not going to find many (if any) BRAND NEW at that price point.
So I can't really agree with them being overpriced any more than any of the other SFRs in Irvine that back either Culver, Jamboree, the 5 or the 405.
What would you price them at? Is there SFR products somewhere in Irvine at a more reasonable price with the same location issue?
So I can't really agree with them being overpriced any more than any of the other SFRs in Irvine that back either Culver, Jamboree, the 5 or the 405.
What would you price them at? Is there SFR products somewhere in Irvine at a more reasonable price with the same location issue?
qwerty
Well-known member
from a noise perspective, i dont think you can compare these to the 405 or the 5 freeway, the volume of cars on the 133/241 is much less than a major freeway. i think the noise stigma will be there with maybe the western half of the development and will be less as you go east.
i agree with IHO, given the price point, this may be the best deal regardless of the location.
i agree with IHO, given the price point, this may be the best deal regardless of the location.
I agree it isn't nearly as bad as the 405 or 5, but it'll still deter potential buyers on resale. Plus LV is right next to portola parkway which is (and may always be) the only majour road in and out of PS. And it will likely only ever be used in the northern part even when it connects to foothill. Paying over half a mil for something in the boonies of Irvine adjacent to majour roads just seems silly to me. Maybe I buy into IndieDev's income kool-aid a bit too much, but I think given time LV is going to end up on the worse end of things and paying out premium now will only hurt the buyer in the future.
irvinehomeowner
Well-known member
But I think the point is that buying a newer 4br/3ba true SFR ANYWHERE in Irvine is almost impossible at half a mil... or even mid $600k.
If you can show me a newer 4/3 SFR not in the boonies and not close to a major road/highway in Irvine for less than $500k, I'll gladly trade you my unicorn for it.
If you can show me a newer 4/3 SFR not in the boonies and not close to a major road/highway in Irvine for less than $500k, I'll gladly trade you my unicorn for it.
Nous said:
Major road? I don't see how Portola Pkwy can be compared to Culver, Jamboree, Irvine Blvd or any other major road.
And there is another way out of PS other than Portola and the toll road. Its not major, but it quickly shoots you to Irvine Blvd without traffic lights.
kubert13 said:
True it isn't Culver, but you will still get more noise and traffic than if you were further back in the community. Also, I would have my doubts that most people in PS are going to go to Irvine Blvd to the 5 instead of taking portola. Going from Sand Canyon will likely always be the best way in/out.
irvinehomeowner
Well-known member
How much time?Nous said:
I used to think that but now that we are 5 years out from the peak... while there is still some drops I don't think there is room for a 30% drop in Irvine (this is based on a general 20% that has already happened and the predicted 50%+ Irvine is supposed to correct to).
Part of the problem is unlike other cities, Irvine has new construction that keeps the benchmarks from dropping as fast. As BK said... it's going to take an entire village to start selling at 50% off before that ever becomes the norm, and by that time... things may adjust to where they won't need to.
Do you think that Lambert Ranch is going to sell new 4/3 SFRs at $500k next year? How about Heritage Fields at the Great Park? Or Orchard Hills? How is that going to ripple out to surrounding cities when you can buy brand new homes in Irvine for less than their older homes?
And don't get me wrong... I'm not trying to say now is the time to buy. I'm just trying to be realistic as to how much more can the prices drop in Irvine.
If 2000sft 4/3s hit the sub-$500k mark, that's good for me because that's means newer 5/3 3CWGs should hit the $600k mark... I'm just not sure that's going to happen in the next 5 years because TIC keeps setting the baseline with their new builds... but maybe The New Home Company and 5 Points will change that.
irvinehomeowner said:
I agree that you won't see the drop quickly. I think TIC is doing their damnedest to keep prices up kinda like the QE stuff the govt did. Try to combat deflation with inflation right? If there is something that is telling in my opinion it is that prices on new home have gone down a bit over this summer (via incentives and whathaveyou) while the rest of the nation for the most part went up (even if was just a very little bit). That furthers the notion that "Irvine is special", just not that is doing well. The thought that homes in Irvine are 2~3 times what they were 11 years ago is absurd though.
irvinehomeowner
Well-known member
Just got an email from TayMo... looks like they are kicking in either Designer Credits or Closing Costs.
Does anyone know what lots were released in Phase 4?
Does anyone know what lots were released in Phase 4?
fishfinder333
New member
qwerty said:
yes, can you provide the details please? I'm on their priority list and I didn't get this email.
usctrojancpa
Well-known member
irvinehomeowner said:
Phase 4 included lots 59-62, 45, and 86. I believe 4 or 5 of those lots are under contract as we speak. I believe Phase 5 will be losts 16-18 and 64-66.irvinehomeowner said:
usctrojancpa
Well-known member
The pace that they are building at is fine with me...my lease expires next summer. Not sure, but I'm glad that TM did because I wouldn't be buying there if the homes didn't have one. I HEART driveways! :-*Nous said: