Montecito / Sonoma / Carmel Pricing
- Thread starter irvinehomeowner
- Start date
NEW -> Contingent Buyer Assistance Program
How many homes were available? What phase were they in? Maybe it is a location thing. 2 Major streets is sucky.
They are in phase release 7. There were 4 homes left in that phase and 1 left from phase 6.
I fin that interesting that the re-sales in Irvine are so high. I've looked at many homes in woodbury and most of the resales at the same price point of sonoma, don't match up. What drives these prices?
And this surprises you because...?
escrowbear
New member
Does anyone know when the first wave of settlers will be moving into Carmel/Montecito/Sonoma?
usctrojancpa
Well-known member
Prices are up 1-2% from Feb...interesting. Looks like all those homes will be sold like I predicted. The Irvine real estate market keeps plugging along.ajw522 said:
nytransplant
New member
I went by Sonoma the other day and they had a bunch of home left on their current release plus one left form the previous release. It might be due to the location - corner of sand canyon and trabuco. I seems like their next release date has been delayed a week
irvinehomeowner
Well-known member
And the slowing starts...
escrowbear
New member
nytransplant said:
How many homes were available? What phase were they in? Maybe it is a location thing. 2 Major streets is sucky.
irvinehomeowner
Well-known member
The higher-priced homes will sell more slowly because:
1. They are overpriced (in my opinon).
2. They exceed the tax credit limitations.
3. Reason number one.
I don't think they are overpriced just because of numbers... for that price, you should get more. Carmel should have at least 2.5 garages and one additional downstairs space. A Great Room is nice, but you still need a 2nd dining or a parlor/living room.
1. They are overpriced (in my opinon).
2. They exceed the tax credit limitations.
3. Reason number one.
I don't think they are overpriced just because of numbers... for that price, you should get more. Carmel should have at least 2.5 garages and one additional downstairs space. A Great Room is nice, but you still need a 2nd dining or a parlor/living room.
usctrojancpa
Well-known member
Unless home inventory levels increase and do so quickly, those remaining homes will sell (maybe at a slower pace, but they will sell). I hate to say this but those Woodbury homes are priced lower than many of the re-sales in Irvine.irvinehomeowner said:
nytransplant
New member
escrowbear said:
They are in phase release 7. There were 4 homes left in that phase and 1 left from phase 6.
nytransplant
New member
usctrojancpa said:
I fin that interesting that the re-sales in Irvine are so high. I've looked at many homes in woodbury and most of the resales at the same price point of sonoma, don't match up. What drives these prices?
ps99472
New member
Has anyone seen a plan 1 sonoma with conservatory option? From floorplans seems like an awkward layout like plan 3 with furniture placement the main issue. Plan 2 seems to benefit the most from the conservatory extension as the great room flows into the kitchen without it being cut off by the island like in plan 1.
How does the 3 leftover CalPac models impact future comps in the area? I think they're smaller and according to the sales staff at Sonoma, are all sold.
We finally toured Sonoma this past weekend. It was exciting to tour a open layout compared to our "cramped" Calpac mericort plan 2. Best price per sq ft seems to be either plan 1 or 3. Don't know why plan 2 has the highest $/sq ft. Adding a conservatory cost about $28000 extra per sales staff. Adds maybe 150 sq ft which is cheap at about $200 per sq ft. Adding a 5th bedroom to plan 3 cost less than $8000 (forgot what sales told me). But a 5 bedroom with 2 car garage is not a good ratio or for resale. We like that it has more curb appeal then the motorcourt Montecito and Santa Cruz. Don't know much about the builder except they're ex-Williams Lyons in NB. Semi-interested in Sonoma plan 1, priced out of 2 and 3. Location could be an issue with Sand Canyon vs. Trabuco but can't get any worse then my present situation (Culver vs. 5 freeway). We have enough savings to stretch into 20% down on a plan 1 without contingency on our current home. We put in our app recently but having some remorse after reading the posts here. I want our next home to be our "permanent" home, something that will satisfy our family needs (1 kid so far with 1 planned) and also after kids (not too big for the two of us). I feel lucky that Irvine homebuyers have the resources of this forum, I do feel empowered with all the info I gathered here, too bad it mostly takes away the "high" of touring model homes.
How does the 3 leftover CalPac models impact future comps in the area? I think they're smaller and according to the sales staff at Sonoma, are all sold.
We finally toured Sonoma this past weekend. It was exciting to tour a open layout compared to our "cramped" Calpac mericort plan 2. Best price per sq ft seems to be either plan 1 or 3. Don't know why plan 2 has the highest $/sq ft. Adding a conservatory cost about $28000 extra per sales staff. Adds maybe 150 sq ft which is cheap at about $200 per sq ft. Adding a 5th bedroom to plan 3 cost less than $8000 (forgot what sales told me). But a 5 bedroom with 2 car garage is not a good ratio or for resale. We like that it has more curb appeal then the motorcourt Montecito and Santa Cruz. Don't know much about the builder except they're ex-Williams Lyons in NB. Semi-interested in Sonoma plan 1, priced out of 2 and 3. Location could be an issue with Sand Canyon vs. Trabuco but can't get any worse then my present situation (Culver vs. 5 freeway). We have enough savings to stretch into 20% down on a plan 1 without contingency on our current home. We put in our app recently but having some remorse after reading the posts here. I want our next home to be our "permanent" home, something that will satisfy our family needs (1 kid so far with 1 planned) and also after kids (not too big for the two of us). I feel lucky that Irvine homebuyers have the resources of this forum, I do feel empowered with all the info I gathered here, too bad it mostly takes away the "high" of touring model homes.
irvinehomeowner
Well-known member
@ps99472:
Thanks for your post and I totally understand what you mean about the buzzkill of some of the posts here (especially mine).
I actually like Sonoma quite a bit but for the price... it just doesn't make sense to me. But... it has made sense for many others so you can console yourself in knowing that not everyone is as pessimistic as I am.
If the Sonoma Plan 1 had a downstairs bedroom or den, we would probably really look into it as I liked the second floor of that model the best. But they keep raising the price which is quite irritating. Again, if these were $50k-100k lower... best value in Irvine even with the Woodbury density (which some people like).
I also like Montecito Plan 2 but it's not just the motorcourt that doesn't appeal to me, it's the way that Carmel/Monte neighborhood is laid out. Rumor is there is supposed to be another area with Montecito models and depending on how that looks... it may move us to buy... but based on that last Phase pricing, the Plan 2 will be well over $800k by then and that's ridiculous.
Thanks for your post and I totally understand what you mean about the buzzkill of some of the posts here (especially mine).
I actually like Sonoma quite a bit but for the price... it just doesn't make sense to me. But... it has made sense for many others so you can console yourself in knowing that not everyone is as pessimistic as I am.
If the Sonoma Plan 1 had a downstairs bedroom or den, we would probably really look into it as I liked the second floor of that model the best. But they keep raising the price which is quite irritating. Again, if these were $50k-100k lower... best value in Irvine even with the Woodbury density (which some people like).
I also like Montecito Plan 2 but it's not just the motorcourt that doesn't appeal to me, it's the way that Carmel/Monte neighborhood is laid out. Rumor is there is supposed to be another area with Montecito models and depending on how that looks... it may move us to buy... but based on that last Phase pricing, the Plan 2 will be well over $800k by then and that's ridiculous.
IHO,
Your posts are not bad at all. Remember the home that I bought has 101 flaws? It's cool man. People still have to make decision for their own regardless of what other people are saying. I do agree with you that the pricing at montecito is getting out of hand. Selling out is more important than their little price increase.
Your posts are not bad at all. Remember the home that I bought has 101 flaws? It's cool man. People still have to make decision for their own regardless of what other people are saying. I do agree with you that the pricing at montecito is getting out of hand. Selling out is more important than their little price increase.
ps99472
New member
Sonoma Phase 7: (4/19/10)
3A $883,500
2C $843,500 (sold)
3D $888,500 (sold)
1B $783,500 (5000 sq ft lot, but backs onto Sand Canyon)
3BR $881,500
1C $767,500
3DR $876,500 (sold)
2AR $833,500 (sold)
Some of these carry the Statuary street name.. Not a good choice in my opinion, sounds like Statutory, and I hate correcting people when I give out my address. Plus I don't see any statues around.....
There is one plan 1 leftover from previous phase
1CR $766,500
I think the ideal lots will be the ones below the CalPac models, seems like bigger lots and not too close to Sand Canyon nor Trabuco. Plus the first 3 phases will border the Arbor Apt complex. I prequalified with them, but will probably hold off till later.. maybe when there are more incentives.
3A $883,500
2C $843,500 (sold)
3D $888,500 (sold)
1B $783,500 (5000 sq ft lot, but backs onto Sand Canyon)
3BR $881,500
1C $767,500
3DR $876,500 (sold)
2AR $833,500 (sold)
Some of these carry the Statuary street name.. Not a good choice in my opinion, sounds like Statutory, and I hate correcting people when I give out my address. Plus I don't see any statues around.....
There is one plan 1 leftover from previous phase
1CR $766,500
I think the ideal lots will be the ones below the CalPac models, seems like bigger lots and not too close to Sand Canyon nor Trabuco. Plus the first 3 phases will border the Arbor Apt complex. I prequalified with them, but will probably hold off till later.. maybe when there are more incentives.
irvinehomeowner
Well-known member
Wow... the pricing has gotten ridiculous. Seriously... it's like they are using the tax incentives and low interest to justify making the prices so high.
irvinerealtor
Well-known member
irvinehomeowner said:
And this surprises you because...?
panda
Well-known member
http://lyonsancarloscourt.com/plans/index.php
IHO, There is a price point that fits everyone's budget to live in lovely Irvine!
Seeing the activity in the new HK collection, I don't see Irvine correcting more than 5% from here even if mortgage rates sharply rise! It is kind of funny to see OC/LA as whole correcting 40% while Irvine has corrected only 15% off from its peak. May 2011 will be the bottom in Irvine with another 5% price reduction tops.
IHO, There is a price point that fits everyone's budget to live in lovely Irvine!
Seeing the activity in the new HK collection, I don't see Irvine correcting more than 5% from here even if mortgage rates sharply rise! It is kind of funny to see OC/LA as whole correcting 40% while Irvine has corrected only 15% off from its peak. May 2011 will be the bottom in Irvine with another 5% price reduction tops.