long waiting list trying to buy new home

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newbbie

New member
Does anyone have or had to go through the long waiting list when purchasing new home, especially in LA? how do you deal with it? not knowing when/if you'll ever get to pick your home.
 
Sadly it is true, at least according to their sales people. Cortona told me they had two pages of names on the list when I signed up. San Remo had 70 people on the list. Ironically they still had three homes available at that time, meaning all the 70 people were waiting for some lots with bigger yard or something. 
 
I got very lucky when it came to the waiting list at Saratoga. They have more names in line for their next phase, 6, than they would even tell me, which meant I'd probably have to wait until phase 7.

The luck happened because the day I got pre-qualified I phoned them and someone just canceled shortly before I called. They'd already started phoning everyone back who was previously on the waiting list for phase 5, but said whoever came in with a check first could reserve it. I flew straight in and gave them my deposit. While I was there doing that they got multiple calls from people saying they wanted to reserve it.

Moral of the story: Call back every day and ask if there have been any cancellations. If so, you won't have to wait through the long list; it'll be a first-come-first-serve situation.
 
Irvine_Dreamer said:
Long waiting list in Laguna Altura?  Seriously?  Not unless they're slashing the home price.  I doubt greedy IP will do that.
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They've got binders full of them. (Hat tip to Mitt)

560.4binder.ls.101612.jpg


-IR2
 
newbbie said:
Sadly it is true, at least according to their sales people. Cortona told me they had two pages of names on the list when I signed up. San Remo had 70 people on the list. Ironically they still had three homes available at that time, meaning all the 70 people were waiting for some lots with bigger yard or something.
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70 people on the list means that they are interested but does not mean you can't buy a home.  Those people have been around since the beginning and may moved on.  My coworker is on a list but he decided to stay put.  It's not like they ever get taken off.  It is totally a sales tactic.
 
Thanks for your success story, Lucky. That's exactly what I was suspecting. Glad to know that's really how they work. :)
 
Irvinecommuter said:
newbbie said:
Sadly it is true, at least according to their sales people. Cortona told me they had two pages of names on the list when I signed up. San Remo had 70 people on the list. Ironically they still had three homes available at that time, meaning all the 70 people were waiting for some lots with bigger yard or something.
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70 people on the list means that they are interested but does not mean you can't buy a home.  Those people have been around since the beginning and may moved on.  My coworker is on a list but he decided to stay put.  It's not like they ever get taken off.  It is totally a sales tactic.
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+1  The majority of those people on "the list" will not end up buying or are only going to buy a specific lot.
 
As I understand it, if you walk into the sales office and the board doesn't have a sold pin on it, it is fair game...That means that the phase has been released and the people on the waiting list opted not to buy it.  Correct me if I'm wrong...
 
The way it works is once the phase comes available, they'll start at the top of the waiting list and start calling every person on the list until they reach one who says, "I'm coming in with a check."

Once they get that response, they stop calling. If no one answers (i.e., they get voicemail) or says they want to come in with a deposit, they keep moving on down the list.

If they call all the numbers on the list without anyone putting a verbal hold by saying they're bringing in a check, then whoever comes in with the deposit first, whether or not they were on the wait list gets to reserve the lot.

They might wait to put a pin on the board until you've officially gone to contract. This will allow them to garner more interest in the event that you change your mind.
 
That's typically the process for the first day when the Phase is released. If you walked in today and the Phase released a week back then all unpinned sites are available. Laguna Altura has not been selling well. In fact they offered me free backyard landscaping 1 month ago.

If you are looking at a future phase then this is a tactic they use to create an artificial sense of urgency in you. Unless you have a specific lot in mind, there should be a few available. Of course, if they only release 3 homes in a phase then you may be out of luck.

As couple of other folks said ... 'there are many people on our waiting list' means SQUAT. I am on the list of at least 3 different communities but have already signed a purchase contract.

lucky760 said:
The way it works is once the phase comes available, they'll start at the top of the waiting list and start calling every person on the list until they reach one who says, "I'm coming in with a check."

Once they get that response, they stop calling. If no one answers (i.e., they get voicemail) or says they want to come in with a deposit, they keep moving on down the list.

If they call all the numbers on the list without anyone putting a verbal hold by saying they're bringing in a check, then whoever comes in with the deposit first, whether or not they were on the wait list gets to reserve the lot.

They might wait to put a pin on the board until you've officially gone to contract. This will allow them to garner more interest in the event that you change your mind.
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newbbie said:
Sadly it is true, at least according to their sales people. Cortona told me they had two pages of names on the list when I signed up. San Remo had 70 people on the list. Ironically they still had three homes available at that time, meaning all the 70 people were waiting for some lots with bigger yard or something.
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By the way...take nothing the sales agents regarding available, wait list, future of real estate, the market, or anything other than price/terms as the truth.  They're there to sell you a place...they own no duty to you and will say pretty much anything to convince you that you need to buy.
 
We were never on the waitlist at Maricopa...we really liked plan 1 and they had one available that another person just backed out (or at least that's the story we were told).  Was a little weary of the location at first, but the price was right and I'm glad to report that I've really grown to like the location of the lot.
 
My Wait list story is...they told me I was 9th on the list.  No one called.  I walked in and said I want this lot...they told me no one has a reserve on it...you can take it today if you want it.  I wrote a check and signed my reservation letter. 

What I realized?  the wait list means nothing...they will give priority to anyone willing to put a check down the day you're in there.
 
My wait story is that the sales people already knew the lot that we wanted several phases back and us being #1 on the waiting list so they let us know a couple weeks back before the release and had us reserved the lot before any one could reserve any homes in that phase

but I agree the wait list means nothing. I am still receiving solicitation from Laguna Altura from time to time: "Mr X, how are you doing? are you ready to buy" that kind of crap.
 
Thanks to all that shared your success stories. It seems that these days communities with bigger houses are all sold out (like Costana) or nearly done (like Cortona). Only smaller house communities (like San Remo, Saratoga or Mendocino) are relatively new and available. I wonder if IP will come out with new bigger house communities soon. Called their office and got no news.
 
Is Cortona really almost sold out? last time I was there about a month ago they had yet to release half of the houses and overheard the sales person say that they were gonna be around for a while...
 
thedude111222 said:
Is Cortona really almost sold out? last time I was there about a month ago they had yet to release half of the houses and overheard the sales person say that they were gonna be around for a while...
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I was there about a month ago too.  Just over half of them sold, I think.
 
thedude111222 said:
Is Cortona really almost sold out? last time I was there about a month ago they had yet to release half of the houses and overheard the sales person say that they were gonna be around for a while...
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YES, Cortona is 80% SOLD OUT. I am not kidding, I live in Cortona and I can see them building the new phases pronto! I will upload a picture of the new houses they are building next to the last street for the Cortona tract later on.
 
newbbie said:
Thanks to all that shared your success stories. It seems that these days communities with bigger houses are all sold out (like Costana) or nearly done (like Cortona). Only smaller house communities (like San Remo, Saratoga or Mendocino) are relatively new and available. I wonder if IP will come out with new bigger house communities soon. Called their office and got no news.
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with the amount of construction and land flattening going on in Stonegate, there is definitely ALOT more homes coming in.  Next to Saratoga and Mendocino they are already prepping the land for new homes.  Saratoga has already sold out of phase 5 (that's only within 2 months) so I'd assume they would expand that neighborhood like they did with San Mateo.  But I'm pretty sure they will pop up more single family homes (with driveways) and less space between the homes to squeeze out more cash
 
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