Las Ventanas by Taylor Morrison at Portola Springs

[usctrojancpa]

Lots of people at Las Ventanas models today.

Regardless of the proximity to the toll road and the location factor of Portola Springs, these will sell at their current price points. They seem have raised them about $10k skipping from Phase 1 to Phase 3 (not sure why that happened) so if they continue to do so, they will find themselves slowing down as they will overprice themselves.

As people have posted in other threads, the Plans 1 and 2 are actually done quite well for their size and room counts. The master bedroom and bath are small (as is the master closet) but the secondary rooms are actually okay if you compare them to the detached condo products running at the same prices. The downstairs rooms are small but are okay for the size of the home (and price).

The Plan 3 upstairs is excellent as also noted by others, the big "foyer" type space between the two bedrooms is nice (esp with the Elevation A balcony option) and the walk-in closet is huge for the room closest to the bathroom. The laundry is actually pretty spacious (Plan 2's is ridiculously large) and the loft+tech area is ideal for families like us who want an upstairs living space and additional homework/computer areas. The master in Plan 3 seemed the smallest and the downstairs has poor flow as you walk between the TV and the couches and can't even see the TV wall from the kitchen. Seems to be small amount of wasted space between the island and sliding doors to the backyard.

Wish they did pantries (even if just small closet type ones) in these kitchens, but they do have lots of counter space and cabinets. It's good that in Plan 2, they are moving the microwave/oven from where the garage door is to next to the refrigerator as that makes more sense.

As for lot sizes, all I can say is these are still better than detached condos on motorcourts. From what I see, if they do the sidewalks with berms of grass, the curb appeal is much better and even with small back and sideyards, that's still more than many of the other new homes in this price range.

Even with a $50k premium, iPac should have built homes like these in Stonegate or Woodbury, wouldn't you guys buy them if they were priced from $675k to $750k? Even if higher, these are better (in my opinion) than Montecito Plans 2 and 3.

Honestly, I feel bad for all those folks who bought those Monecito homes.  To spend $800k+ to live in what basically is a detached condo on a motorcourt?  FAIL!

 

[kinetics]

Scan of flyers from this weekend.  My favorite was also Plan 2 although the backyard "pool" in Plan 3 was pretty impressive.

 

[irvinehomeowner]

After living next to a main road and a freeway, the noise from the toll road is nothing. If it ever becomes a non-toll road, that might be a concern as I'm sure vehicle counts will sky rocket on that road.

Does anyone know why they skipped Phase 2, and it looks like they did a $10k price jump to Phase 3.

 

[uciguy]

I think they were having trouble selling the lots right by the 133, so they wanted to release some better lots to get momentum going.  They couldn't call it phase 2 because the phase 2 lots were already specified on their site plan.  We considered buying lot 63, but decided to wait a while longer for a lot even farther from the road.  From what I understand, it sold on Saturday, but I suppose the people could have backed out and I wouldn't know about it.

 

[qwerty]

I think they were having trouble selling the lots right by the 133, so they wanted to release some better lots to get momentum going.  They couldn't call it phase 2 because the phase 2 lots were already specified on their site plan.  We considered buying lot 63, but decided to wait a while longer for a lot even farther from the road.  From what I understand, it sold on Saturday, but I suppose the people could have backed out and I wouldn't know about it.

you understand correctly. i went yesterday and they had a yellow hold button on lot 63. the sales lady was very quick to point out that the hold buttons were actually sold but have not had time to do the contract yet because they just opened on saturday.  unless you are all the way by the entrance i cant imagine the sound from the 133 being that much different for the entire western part of las ventanas. Maybe just knowing that you back up to the 133 is enough for for some people not to buy the phase 2. the noise at lot 63 is just as bad as the phase 2 homes.

 

[usctrojancpa]

I think they were having trouble selling the lots right by the 133, so they wanted to release some better lots to get momentum going.  They couldn't call it phase 2 because the phase 2 lots were already specified on their site plan.  We considered buying lot 63, but decided to wait a while longer for a lot even farther from the road.  From what I understand, it sold on Saturday, but I suppose the people could have backed out and I wouldn't know about it.

One of my buyers picked up lot 63 because they liked the larger sized lot.  They signed the reservation on Saturday morning but won't be signing the purchase contract for another 2-4 weeks as that's when TM will get the green light from the DRE to do so (the yellow report, I believe...they only have the pink report now).

 

[usctrojancpa]

I think they were having trouble selling the lots right by the 133, so they wanted to release some better lots to get momentum going.  They couldn't call it phase 2 because the phase 2 lots were already specified on their site plan.  We considered buying lot 63, but decided to wait a while longer for a lot even farther from the road.  From what I understand, it sold on Saturday, but I suppose the people could have backed out and I wouldn't know about it.

you understand correctly. i went yesterday and they had a yellow hold button on lot 63. the sales lady was very quick to point out that the hold buttons were actually sold but have not had time to do the contract yet because they just opened on saturday.  unless you are all the way by the entrance i cant imagine the sound from the 133 being that much different for the entire western part of las ventanas. Maybe just knowing that you back up to the 133 is enough for for some people not to buy the phase 2. the noise at lot 63 is just as bad as the phase 2 homes.

Yeah, probably more of a perception thing but the 3 rows of homes to west of lot 63 will shield the noise a bit.  My buyers weren't overly concerned with the toll road and were more focused on buying a larger lot. 

 

[ps99472]

I think they were having trouble selling the lots right by the 133, so they wanted to release some better lots to get momentum going.  They couldn't call it phase 2 because the phase 2 lots were already specified on their site plan.  We considered buying lot 63, but decided to wait a while longer for a lot even farther from the road.  From what I understand, it sold on Saturday, but I suppose the people could have backed out and I wouldn't know about it.

you understand correctly. i went yesterday and they had a yellow hold button on lot 63. the sales lady was very quick to point out that the hold buttons were actually sold but have not had time to do the contract yet because they just opened on saturday.  unless you are all the way by the entrance i cant imagine the sound from the 133 being that much different for the entire western part of las ventanas. Maybe just knowing that you back up to the 133 is enough for for some people not to buy the phase 2. the noise at lot 63 is just as bad as the phase 2 homes.

Yeah, probably more of a perception thing but the 3 rows of homes to west of lot 63 will shield the noise a bit.  My buyers weren't overly concerned with the toll road and were more focused on buying a larger lot. 

How big is the lot?

 

[usctrojancpa]

I think they were having trouble selling the lots right by the 133, so they wanted to release some better lots to get momentum going.  They couldn't call it phase 2 because the phase 2 lots were already specified on their site plan.  We considered buying lot 63, but decided to wait a while longer for a lot even farther from the road.  From what I understand, it sold on Saturday, but I suppose the people could have backed out and I wouldn't know about it.

you understand correctly. i went yesterday and they had a yellow hold button on lot 63. the sales lady was very quick to point out that the hold buttons were actually sold but have not had time to do the contract yet because they just opened on saturday.  unless you are all the way by the entrance i cant imagine the sound from the 133 being that much different for the entire western part of las ventanas. Maybe just knowing that you back up to the 133 is enough for for some people not to buy the phase 2. the noise at lot 63 is just as bad as the phase 2 homes.

Yeah, probably more of a perception thing but the 3 rows of homes to west of lot 63 will shield the noise a bit.  My buyers weren't overly concerned with the toll road and were more focused on buying a larger lot. 

How big is the lot?

A little bit over 4,500sf or about a 1,000sf larger than any other lot in Phase 3.

 

[jyeh74]

Anybody actually signed up on the waiting list waiting for the later lots?  Considering they raised the prices by $10k for phase 3, you can imagine what the later lots might cost.

 

[qwerty]

How big is the lot?

A little bit over 4,500sf or about a 1,000sf larger than any other lot in Phase 3.

the backyard was not that big if remember, about 10ft deep, maybe 11, but it is a wider and the northwest part of the lot jets out a bit, so the side yard should be a decent size.

 

[qwerty]

Anybody actually signed up on the waiting list waiting for the later lots?  Considering they raised the prices by $10k for phase 3, you can imagine what the later lots might cost.

i asked about lots 40, 38, and 39, the lady said they already had a list of about 20 people waiting for those lots and mentioned there would more expensive (of course).  I told her my preference for the bigger yard and mentioned lots 1-5 will have some of the larger yards in LV, about 27 feet deep.

 

[usctrojancpa]

How big is the lot?

A little bit over 4,500sf or about a 1,000sf larger than any other lot in Phase 3.

the backyard was not that big if remember, about 10ft deep, maybe 11, but it is a wider and the northwest part of the lot jets out a bit, so the side yard should be a decent size.

Yeah, I think it was like 11-12 deep and had a decent side yard.  They also liked they you only have one neighbor to the side so the home should get more light on the side that is open.

 

[uciguy]

Anybody actually signed up on the waiting list waiting for the later lots?  Considering they raised the prices by $10k for phase 3, you can imagine what the later lots might cost.

Yes, I'm on the list for one of the really big lots.  They may be much more expensive, but who knows.  We wont really know for sure if all of the new construction across Irvine is selling as fast as they expected until the summer is fully underway and they stop blaming the weather for slow sales.  I personally think they overestimated demand, so builder incentives may be commonplace by the end of the summer.  However, that may all just be wishful thinking.

 

[usctrojancpa]

Anybody actually signed up on the waiting list waiting for the later lots?  Considering they raised the prices by $10k for phase 3, you can imagine what the later lots might cost.

Yes, I'm on the list for one of the really big lots.  They may be much more expensive, but who knows.  We wont really know for sure if all of the new construction across Irvine is selling as fast as they expected until the summer is fully underway and they stop blaming the weather for slow sales.  I personally think they overestimated demand, so builder incentives may be commonplace by the end of the summer.  However, that may all just be wishful thinking.

Some of those lots that back up and face the toll road from Phase 1 and 2 will most likely hit MLS as they try to clear them out.  There might be some room for negotiation (buyer incentives like design center credits and/or additional closing costs credits) if those lots remain unsold over the next few months. 

 

[usctrojancpa]

Got the word that they will allow me to represent myself and get the broker co-op.  Their preference is that I use the broker co-op at the design center, but I'll save it for buying down my 5/5 ARM interest rate and some closing costs.    I'll be submitting my pre-approval paperwork tomorrow.

 

[ps99472]

Got the word that they will allow me to represent myself and get the broker co-op.  Their preference is that I use the broker co-op at the design center, but I'll save it for buying down my 5/5 ARM interest rate and some closing costs.    I'll be submitting my pre-approval paperwork tomorrow.

Which lot do you prefer?

 

[villiagepeople]

Got the word that they will allow me to represent myself and get the broker co-op.  Their preference is that I use the broker co-op at the design center, but I'll save it for buying down my 5/5 ARM interest rate and some closing costs.    I'll be submitting my pre-approval paperwork tomorrow.

don't mean to hijack the thread but did you ask the penfed people how much it would cost to buy down the 3.5% rate?  i called and asked about minimums... 45% dti, 680 fico and 90% LTV (on refi's i'm assuming), but i didn't ask about buy down amounts.

 

[irvinehomeowner]

I told her my preference for the bigger yard and mentioned lots 1-5 will have some of the larger yards in LV, about 27 feet deep.

Do you know if 1-5 are like 7-11 and the models where part of the yard is a slope?

While the lots look big on the site plan, the slope basically cuts into the real size and you end up having to maintain something you really don't use.

You know what I find funny here... how many of you are really serious about buying? Like I wouldn't think qwerty and USC would buy one of these and many others were complaining about the toll road yet many of you are pre-registered and on the waiting list hoping for the bigger lots.

 

[irvinehomeowner]

Also, what was really cool about their interactive site plan thing in the sales office was you can zoom in on any lot and get the measurements for it. Not like the old days where they had to bust out the blueprints.