Mulberry at Cypress Village

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Chairman said:
Did you guys hear the helicopters this morning? There were two fatalities on the 5 freeway at the Culver ext. I saw 4 helicopters, one super close to our community. Those chopper blades are loud! Add that to the train that blares its horn at all hours of the night!
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Ya, I could hear it very clearly all the way from Woodbury.  I thought there was a high speed chase or something... then found out later they blocked all lanes but one.
 
Interesting, the phase 14's price are are lower than those of  previous phases.  Although the price in the last few phases include structure upgrade like conservatory etc, but after deduct those option's prices, those phases's price are still higher then phase 14's.
 
lnc said:
Interesting, the phase 14's price are are lower than those of  previous phases.  Although the price in the last few phases include structure upgrade like conservatory etc, but after deduct those option's prices, those phases's price are still higher then phase 14's.
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Looks like they can't sell them with all the other product out there?
 
Chairman said:
Check out lot 20 1A vs Lot 38 1F. Same price and lot 38 doesn't have neighbors behind it? What gives?
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Maybe the lot 20's Santa Barbara elevation are more expensive and had the premium equal to lot 38's lot premium for no neighbor behind.
 
lnc said:
Chairman said:
Check out lot 20 1A vs Lot 38 1F. Same price and lot 38 doesn't have neighbors behind it? What gives?
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Maybe the lot 20's Santa Barbara elevation are more expensive and had the premium equal to lot 38's lot premium for no neighbor behind.
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I forget which facade is which symbol but if it has shutters on the windows then it would be more expensive.
 
Current Pricing:

Plan 1) $936,900 (100 sf less than Magnolia Plan 2, but $6K less than it and no motor court)
Plan 2) $1,000,700
Plan 3) $1,073,100
 
Wow, the price want down from previous phase!  That's some thing you don't see every day. 

@???, BTW, do you know which phase it is?

 
thatOSguy said:
lnc said:
Wow, the price want down from previous phase!  That's some thing you don't see every day. 

@???, BTW, do you know which phase it is?
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Get used to it. More supply coming, demand tapered ~8 months ago. Sales volume drops first, then pricing.
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It is common for other builders to adjust prices to meet market conditions but for Irvine Pacific, it almost never happened.  In the pass, IP rather not selling any home then lowered the prices.  I guess this time is different.
 
lnc said:
thatOSguy said:
lnc said:
Wow, the price want down from previous phase!  That's some thing you don't see every day. 

@???, BTW, do you know which phase it is?
Click to expand...

Get used to it. More supply coming, demand tapered ~8 months ago. Sales volume drops first, then pricing.
Click to expand...

It is common for other builders to adjust prices to meet market conditions but for Irvine Pacific, it almost never happened.  In the pass, IP rather not selling any home then lowered the prices.  I guess this time is different.
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Yeah that's definitely unusual for Irvine Pacific to lower prices.  IP is a subsidiary of the  Irvine Family.  Why are they in such a rush to sell off all their land and houses suddenly??  Strange.
 
Overall, Mulberry sells pretty well.  With total of 178 homes, they sold over 130 within the last 12 month and only about 40 left to go. They lower the price for the most recent phase probably because IP just want to finish off Mulberry.  Its only about 4 more phases to go and should completely sold out by end of this summer.

Regarding to Mulberry house for sales and rent, I had a feeling that there's a lot of investment buying in the first few phases.  Just my street alone, there are 3 houses that are for rent (2 of them are already rented out) and one is currently for sale.  Probably due to extremely low inventory, high demand, and rapid increase home prices in the early part of 2013 that make these investors to jump in. 

 
Chairman said:
Any updates on what is going on in Mulberry? Thanks.
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Here's an update.  Some jerk almost ended the Zerolot family when he ran the stop sign on Cherry Tree to drive over to Mulberry.

Let's just say I would have a lot of witnesses if he did hit me.  That's the nice thing about CV, it's very pedestrian friendly.  Lots of people like going on walks here.
 
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