Montecito / Sonoma / Carmel Pricing

NEW -> Contingent Buyer Assistance Program
irvinehomeowner said:
I don't envy IR as he has to balance the blog and the business which almost oppose each other. Notice the slight of hand in the last paragraph. He said exactly what I have said many times in the past: "Any buyers planning to buy should expect to stay put for at least five to seven years."  Do you think he would say that about the Inland Empire? Las Vegas? He knows Irvine is special.

If Irvine is not special... how are their prices holding up better than surrounding cities? How are they able to sell new homes at such a high benchmark price and fast pace and raising them each phase? Why does Irvine not have a flood of REOs like other places? Why can't I find a newer 3CWG home for less than $700k but can find them in South County cities quite easily?

You may not think Irvine is special... but someone does.
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Yes I know...show me the money!

But I say the REOs are still coming--the evidence is overwhelming. It is only a matter of time. I don't think previous Irvine home buyers were 'special' either---and they too did the 'spend and pretend' routine like many in OC and around the country. It is just a matter of time before banks need to dispose of their shadow inventory. Irvine might be a slow starter and probably will lag the rest of the OC market in terms of price declines but it will get there eventually.
 
Just emailed in, I am scared to find out what they will be asking...

We are pleased to announce the next release on Wednesday, June 23rd.  The homes within this phase offer brand new locations within the Montecito community, which you can view now at the Montecito at Woodbury Sales Gallery. These new locations are walking distance to the Commons, Woodbury's 30 acre recreational facility.  The Commons offers 3 pools, spa and cabana, childrens water park, basketball and tennis courts and so much more!  And, if you purchase in this phase, you?ll have the opportunity to customize your home just the way you like it with a Brookfield Designer who will guide you through selecting the cabinets, finishes and flooring that are just right for you and your family.


Homes will be available in the Montecito at Woodbury Sales Gallery to all prequalified homebuyers. If you have not been prequalified, you can do so by completing the online loan application with BHS Home Loans or by contacting Odilia Chan directly at Charlotte.o.chan@bhshomeloans.com or by calling 951-977-0028.  Loan approval needs to be secured 5pm on Monday, June 21st.  Please be advised of the following dates, as they are critical to ensuring your priority to purchase your new home.   


Monday, June 21st by 5pm  -  We will need your confirmation of interest for this phase release by signing-in at the Montecito Sales Gallery by 5pm on Monday. If you do not sign in at the Montecito Sales Gallery, we will assume you wish to pass on this phase maintaining your priority registration. 


Wednesday, June 23rd at 12pm - The Montecito at Woodbury Sales Counselors will begin contacting prequalified buyers for home site selections in the order registered on the Villages of Irvine priority website.

On behalf of Brookfield Homes, thank you again for considering Montecito at Woodbury as your next home.  Feel free to contact the Montecito Sales Gallery with any questions or concerns at (866) 400-2422.  We?ll be expecting you.


Andrea Martinez, Carin Riddle and Donna Ruane
Montecito at Woodbury
Brookfield Homes Southland
 
irvinehomeowner said:
If Plan 2 in M-Two were $700k... we would buy it.

But it will probably be $800k.

The Irvine Company makes me sad.
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Probably closer to $900K by buildout of M-Two.
 
I don't think they've released that to the public yet....

EDIT: My bad...I didn't know they were referring to the new location. I thought they were referring to buildout of M-One.
 
irvinehomeowner said:
If Plan 2 in M-Two were $700k... we would buy it.

But it will probably be $800k.

The Irvine Company makes me sad.
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They were already at $800K for the last couple of phases of M-1.  My guess will be around $820K for the first phase of M-2.
 
ps99472 said:
Anyone know if I prequalified with Sonoma if I still need to prequalify with Montecito?
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you have to prequalify for each property separately.  Even though BOA does most of the approvals it is usually a different office for each builder. 
 
ps99472 said:
Anyone know if I prequalified with Sonoma if I still need to prequalify with Montecito?
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Yes you do.  Sonoma uses BofA and Montecito uses Wells Fargo.  I had to do a brand new preapporval with new hard credit pull for Montecito even though I was already preapproved for Sonoma. 

 
Irvine2Irvine said:
ps99472 said:
Anyone know if I prequalified with Sonoma if I still need to prequalify with Montecito?
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Yes you do.  Sonoma uses BofA and Montecito uses Wells Fargo.  I had to do a brand new preapporval with new hard credit pull for Montecito even though I was already preapproved for Sonoma. 
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Credit verifications from lenders that take place within 30 days of each other are all lumped together as a single inquiry, whether it is 1 or 100 times in that time window.  This allows buyers to shop different sources to satisfy themselves that they are getting a fair shake in terms of fees, costs, etc. 

-IR2
 
IrvineRealtor said:
Irvine2Irvine said:
ps99472 said:
Anyone know if I prequalified with Sonoma if I still need to prequalify with Montecito?
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I've heard that but when I got a recent credit report (after signing up for the 2010 collection) it commented that my score MIGHT be effected by a larger number of credit checks. 

Yes you do.  Sonoma uses BofA and Montecito uses Wells Fargo.  I had to do a brand new preapporval with new hard credit pull for Montecito even though I was already preapproved for Sonoma. 
Click to expand...

Credit verifications from lenders that take place within 30 days of each other are all lumped together as a single inquiry, whether it is 1 or 100 times in that time window.  This allows buyers to shop different sources to satisfy themselves that they are getting a fair shake in terms of fees, costs, etc. 

-IR2
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Sonoma Phase 11:

Lot 93, plan 1cr, lot 3454, $787,500
Lot 94, plan 3a, lot 3646 $893,500
Lot 95, plan 1br, lot 5828 $842,500
Lot 96, plan 2ar, lot 5824 $902,500
Lot 103, plan 2dr, lot 3510 $838,500
Lot 104, plan 1cr, lot 3510 $770,500

couldn't post pdf, file too big, anyone know how to shrink? don't have acrobat only reader.
 
ps99472 said:
Sonoma Phase 11:

Lot 93, plan 1cr, lot 3454, $787,500
Lot 94, plan 3a, lot 3646 $893,500
Lot 95, plan 1br, lot 5828 $842,500
Lot 96, plan 2ar, lot 5824 $902,500
Lot 103, plan 2dr, lot 3510 $838,500
Lot 104, plan 1cr, lot 3510 $770,500

couldn't post pdf, file too big, anyone know how to shrink? don't have acrobat only reader.
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$64k premium for a lot that is 2,300sf larger?
 
USCTrojanCPA said:
ps99472 said:
Sonoma Phase 11:

Lot 93, plan 1cr, lot 3454, $787,500
Lot 94, plan 3a, lot 3646 $893,500
Lot 95, plan 1br, lot 5828 $842,500
Lot 96, plan 2ar, lot 5824 $902,500
Lot 103, plan 2dr, lot 3510 $838,500
Lot 104, plan 1cr, lot 3510 $770,500

couldn't post pdf, file too big, anyone know how to shrink? don't have acrobat only reader.
Click to expand...
$64k premium for a lot that is 2,300sf larger?
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more like $72k between the two plan 1's.  I always wonder how they price these things.  Let's say later both of these homes appear on MLS.  Would you think there would be this much difference?  I would say maybe a $10-15K difference. 
 
ps99472 said:
USCTrojanCPA said:
ps99472 said:
Sonoma Phase 11:

Lot 93, plan 1cr, lot 3454, $787,500
Lot 94, plan 3a, lot 3646 $893,500
Lot 95, plan 1br, lot 5828 $842,500
Lot 96, plan 2ar, lot 5824 $902,500
Lot 103, plan 2dr, lot 3510 $838,500
Lot 104, plan 1cr, lot 3510 $770,500

couldn't post pdf, file too big, anyone know how to shrink? don't have acrobat only reader.
Click to expand...
$64k premium for a lot that is 2,300sf larger?
Click to expand...

more like $72k between the two plan 1's.  I always wonder how they price these things.  Let's say later both of these homes appear on MLS.  Would you think there would be this much difference?  I would say maybe a $10-15K difference. 
Click to expand...
Wow, I didn't even notice that and the worst part is that a 5,800sf lot even isn't that big.
 
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