Las Ventanas by Taylor Morrison at Portola Springs

NEW -> Contingent Buyer Assistance Program
I wonder if this community with have 1 or 2 HOAs?  Las Colinas down the street just has 1 master HOA at $175/month.  I hope Las Ventanas only has 1 HOA.
 
Elevation renderings are up.  Makes me like Plan 2 even more.  I want a Las Ventanas Plan 2, but in Cypress Village.  I wonder how the $/sqft of Cypress will compare to the other neighborhoods?
 
Yeah... saw those last week... I like the ones with the balcony up front (so I can sit out there and watch the cars go by on the toll road).

I like the Plan 3 the most but I have a feeling that's going to be priced in the $800k... and I wish the kitchen island was oriented more like the Plan 2.
 
I asked about pricing but they won't be available until mid march. I really wonder if they will raise the prices as 650k for plan 1 is actually decent. I'm guessing plan 2 will be 700k and plan 3 750k.
 
To my knowledge, they are still sticking to the mid 600k starting price for plan 1.  Did something new come out?
 
Passed by yesterday... stucco'ed with paint.

Talked to Los Colinas... they said not opening until April although I heard March. She still said it would be starting in the 6s... personally... I'm not sure because that would really eat into the detached condos.
 
Yeah, but MR makes up for it.  1.75% MR and $175 HOA.  Further location and right next to the 133, so they have to lower the price.
 
irvinehomeowner said:
Passed by yesterday... stucco'ed with paint.

Talked to Los Colinas... they said not opening until April although I heard March. She still said it would be starting in the 6s... personally... I'm not sure because that would really eat into the detached condos.
Click to expand...

That's why I think detached condos are a very iffy RE value in these uncertain times. If the market goes nowhere or slides in the next few years and SFRs are accordingly priced downward, that'll eat right into today's detached condo buyers.

I'd also think carefully about buying in PS...fires. If another big one hits the area, watch insurance premiums soar and properly values come under significant pressure.
 
Las Ventanas is live on TIC's site:

http://www.villagesofirvine.com/Villages-And-Residences/Portola-Springs-Overview.aspx?type=neighborhood&Id=70
Coming Soon
Taylor Morrison Homes
1,871 - 2,302 Sq. Ft.
From the Mid $600,000's
Tel: (949) 748-3975
Click to expand...
Mid $600k is still there. #winning
 
If you think about it, if it wasnt for the location near the toll road, Las Vent wouldnt be that bad.  Tax rate is 1.7%.. yeah.  but how bad is it?  Well... let's say you like Irvine, and you want to buy in newer neighboorhoods with MR of $2000-3000 per year.  You say "that's acceptable"... and then say "PS is ridiculous!!! at 1.7%".  What's the delta?  $2-3K per year maybe?  So let's say you are paying an extra $2,500 per year for a 30-year bond (I don't know what term CFD/AD's are typically financed over)...    Anyways, that present values to $40K @ 4.75%.  So basically add $40K to your price to get to your "effective" price.  I've excluded value of tax subsidy since MR is "technically" not deductible.  So let's say plan 3 at Las Ventanas runs you $700+  and the $40K...  and you end up in the high 700s "effectively".  Isn't that still cheaper than what 2300 sq ft runs you elsewhere in Irvine?
 
sorry for the multiple posts, but i was wondering... Does Sierra Vista Middle have the room take on new students from the Stonegate area?  My coworker's kids go there and says it feels pretty crowded as is....
 
Well whatever is the premium of SFR's today over detached condo, similar premium will
exist even if market goes south.  you are saying tomorrow's SFR prices will be  todays
detached condo prices. then doesn't that mean todays SFR prices are iffy values as well.

Bottom line is there always will be a market for detached condo's like attached townhomes
or SFR's. They all have their own price points and will scale up or down with similar premiums
whether market goes up or down.

Also same is true for west irvine Vs central irvine or other parts of south county. It is all perception.
Certain places have a premium and I've noticed that premium has been maintained through the entire
slump in RE that started in 2006. Of course things get out of whack when you include areas which are
very less desirable like inland empire.

I don't have exact example but at the height of the bubble central Irvine
I'm guessing had similar premium to homes in West irvine or the desirable school district sections
of Mission/ L niguel /aliso.

iphb said:
irvinehomeowner said:
Passed by yesterday... stucco'ed with paint.

Talked to Los Colinas... they said not opening until April although I heard March. She still said it would be starting in the 6s... personally... I'm not sure because that would really eat into the detached condos.
Click to expand...

That's why I think detached condos are a very iffy RE value in these uncertain times. If the market goes nowhere or slides in the next few years and SFRs are accordingly priced downward, that'll eat right into today's detached condo buyers.

I'd also think carefully about buying in PS...fires. If another big one hits the area, watch insurance premiums soar and properly values come under significant pressure.
Click to expand...
 
akim997 said:
So let's say plan 3 at Las Ventanas runs you $700+  and the $40K...  and you end up in the high 700s "effectively".  Isn't that still cheaper than what 2300 sq ft runs you elsewhere in Irvine?
Click to expand...
Agreed.

While I think the Plan 3 may run closer to $800k (if not over)... it is significant that this would be the only 5 bedroom house with a full driveway at that price point. Regardless of square footage, living space matters... so even the Plan 1 at $650k with a downstairs den is a much better bargain than Santa Cruz Plan 3... or Montecito Plan 1. Or if you want to stay in PS, would you buy an LV Plan 1 or any of the larger plans from Casero, Primrose or Sevilla?

The question here is balancing location, proximity to tollroad etc etc. But just based on the house and floorplan... I like these TRUE SFRs at this price point.
 
Visiting that area... it's not so bad. Amazingly, Siennas sold for $1.4+mil and those are right next to the toll road (although they have huge view lots on single loaded streets).

The other considerations are it's still Irvine, in a less dense 'hood, pseudo hillside and has full streets with driveways. If these started at low $700ks... the location argument would hold better because the price difference is $50k from Stonegate... but at $650k... that not only affects the resale and other new SFRs but the new detached condos in the same 'hood.

Edit: Typos
 
New pics with stucco
img0185sbm.jpg


Plan 3 (wooo, curving arches underneath the window, a new house with some design in Irvine)
img0181yv.jpg


Dusk on the 133
img0178q.jpg



 
Did you also notice the new large Taylor Morrison sign at the gate that read: "NO TRESPASSING" (see ps99472's 2nd photo). I guess Taylor & TIC do not want anymore TI nutters invading their build sites.
 
iacrenter said:
Did you also notice the new large Taylor Morrison sign at the gate that read: "NO TRESPASSING" (see ps99472's 2nd photo). I guess Taylor & TIC do not want anymore TI nutters invading their build sites.
Click to expand...

Tried to take pics of Maricopa over in Stonegate after this, there were "No trespassing" signs as well, but the fence was open.  But there were still construction crew working (6pm!) and didn't want to get in trouble..  They sure are working hard...
 
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