Need advices from Saratoga buyers!

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Minionbibi

New member
Hi , I m new to this form but I found members are very helpful from this TI forum. Thanks in advance for providing any info!

We are interested in Saratoga homes, but they seem to be overpriced for a single detached condo.  do you think these single detached condos have good appreciation in value or not in the future?  When you apply for loan, do you get a condo rate  or a SFR rate for buying this Saratoga home? do you need to buy H06 ins for it?

Cheers! :)
 
Minionbibi said:
Hi , I m new to this form but I found members are very helpful from this TI forum. Thanks in advance for providing any info!

We are interested in Saratoga homes, but they seem to be overpriced for a single detached condo.  do you think these single detached condos have good appreciation in value or not in the future?  When you apply for loan, do you get a condo rate  or a SFR rate for buying this Saratoga home? do you need to buy H06 ins for it?

Cheers! :)
Click to expand...
Welcome to the forum.  Saratoga condos will appreciate if the value of Irvine real estate as a whole appreciates.  Detached condos will appreciate more than attached condos but maybe a touch less than detached single family residences with driveways.  That being said, most new home being built in Irvine under $1m are now detached condos.  In terms of loans and rates, if you put 25% down you will get the same loan pricing on a detached condo as you would on a detached single family residence (if you put 20-24.99% down then you are hit with an extra fee of 1%).  You will get the same insurance that you would for a detached single family residence.  The HO6 insurance is only for attached condos.
 
In regarding to appreciation or hold it's value, just think Stonegate Elementary.  As long as SG elementary continue to perform as they are, zone in into SG elementary will add value to these homes.
 
Minionbibi said:
Hi , I m new to this form but I found members are very helpful from this TI forum. Thanks in advance for providing any info!

We are interested in Saratoga homes, but they seem to be overpriced for a single detached condo.  do you think these single detached condos have good appreciation in value or not in the future?  When you apply for loan, do you get a condo rate  or a SFR rate for buying this Saratoga home? do you need to buy H06 ins for it?

Cheers! :)
Click to expand...

Think about row homes in San Francisco or other major cities - a simple town home with no land can sell for over $1.5mhttp://www.redfin.com/CA/San-Francisco/153-7th-Ave-94118/home/39826232

Irvine and the surrounding areas are running out of buildable land. The difference here is that there will still be thousands of choices of single family homes with 4000+ sq ft lots. You might also want to compare Saratoga to the similarly priced homes in Pavilion park by reading this thread:http://www.talkirvine.com/index.php/topic,11151.0.html
 
Yes, Saratoga seems to be overpriced if you want compare it with its starting price around 2 years ago.  However, If you look at other IP home prices (such as Laurel, Mendocino and future OH new constructions), I think current Saratoga price positioning is about right.  If you can afford to pay at least over $900k, go for true SFR, you will get a home with drive way. If not Saratoga could be a good alternative.

Terraza in OH is basically copy of Saratoga with a little bit of second floor sqft increase. And they have same 3000 sqft lot size. However you have to pay about 100k more for them in the future.
Here is sqft and price comparison to Terraza and Saratoga.

Terraza                                                        Compared to Saratoga
Residence 1:  1981 sqft, Mid $800,000's  (+74 sqft,  expecting $60~70K increase)
Residence 2:  2331 sqft, Mid $900,000's  (+150 sqft, expecting $120K  increase)
Residence 2X: 2408 sqft, Mid $900,000's  (+227 sqft, expecting $100K  increase)

And Saratoga is technically detached condo but other than that, it's same as SFR. You own the land and surrounding boundaries. And you will have H03 insurance.  RoundTree, SpringHouse and  Birch Trail in GreatPark are also detached condos even with driveways.
Please see the past detached condo discussion here:http://www.talkirvine.com/index.php/topic,11277.msg219355.html#msg219355

BTW, is Saratoga still available? I thought they are all sold.
 
I have a feeling that when the Terraza come out, it will increase the demand of Saratoga homes.

1. The location at Orchard Hills is nice but Terraza's location is not that special.
2. Terraza don't have as many ameities as Saratoga in the Stonegate.
3. Terraza will be zone in to TUSD.  I don't know if this will matter much since this part of TUSD have very decent schools but Saratoga are zone in to Stonegate Elementary and North Wood High (for now).
4. Terraza will price a lot higher than Saratoga.  For home at this price range, I think the buyers are very budget conscious and Saratoga will be perceived as better value.

And only if they have more Saratoga home to sell, I guess who ever purchase Saratoga at early phases can flip these house with significant gain. :)
 
Minionbibi said:
Hi , I m new to this form but I found members are very helpful from this TI forum. Thanks in advance for providing any info!

We are interested in Saratoga homes, but they seem to be overpriced for a single detached condo.  do you think these single detached condos have good appreciation in value or not in the future?  When you apply for loan, do you get a condo rate  or a SFR rate for buying this Saratoga home? do you need to buy H06 ins for it?

Cheers! :)
Click to expand...

If affordability is an issue for you - how about this.
http://www.standardpacifichomes.com....aspx?_cldee=ZXJpYy5rbGludGhvbmdAZ21haWwuY29t

Starting from the low 400s. BUT it's in Chino.
 
akirvine79 said:
Yes, Saratoga seems to be overpriced if you want compare it with its starting price around 2 years ago.  However, If you look at other IP home prices (such as Laurel, Mendocino and future OH new constructions), I think current Saratoga price positioning is about right.  If you can afford to pay at least over $900k, go for true SFR, you will get a home with drive way. If not Saratoga could be a good alternative.

Terraza in OH is basically copy of Saratoga with a little bit of second floor sqft increase. And they have same 3000 sqft lot size. However you have to pay about 100k more for them in the future.
Here is sqft and price comparison to Terraza and Saratoga.

Terraza                                                        Compared to Saratoga
Residence 1:  1981 sqft, Mid $800,000's  (+74 sqft,  expecting $60~70K increase)
Residence 2:  2331 sqft, Mid $900,000's  (+150 sqft, expecting $120K  increase)
Residence 2X: 2408 sqft, Mid $900,000's  (+227 sqft, expecting $100K  increase)

And Saratoga is technically detached condo but other than that, it's same as SFR. You own the land and surrounding boundaries. And you will have H03 insurance.  RoundTree, SpringHouse and  Birch Trail in GreatPark are also detached condos even with driveways.
Please see the past detached condo discussion here:http://www.talkirvine.com/index.php/topic,11277.msg219355.html#msg219355

BTW, is Saratoga still available? I thought they are all sold.
Click to expand...

Yes They still have 2 from phase 34 and the sales lady told me that phase 35 is the last phase for Saratoga.
 
notTHEoc said:
Regarding SG elem, it's student composition is going to change a lot in the next few years once PS elem opens up and those students leave SG. May or may not impact the school. Prob remains one of the best elems in iusd, but just something to keep in mind if that is a big reason for purchasing Saratoga.
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Yes being able to enroll my kid to the good nearby elementary school is one of the factor...but at the end, the Saratoga home fits better with our budget:)
 
eyephone said:
Minionbibi said:
Hi , I m new to this form but I found members are very helpful from this TI forum. Thanks in advance for providing any info!

We are interested in Saratoga homes, but they seem to be overpriced for a single detached condo.  do you think these single detached condos have good appreciation in value or not in the future?  When you apply for loan, do you get a condo rate  or a SFR rate for buying this Saratoga home? do you need to buy H06 ins for it?

Cheers! :)
Click to expand...

If affordability is an issue for you - how about this.
http://www.standardpacifichomes.com....aspx?_cldee=ZXJpYy5rbGludGhvbmdAZ21haWwuY29t

Starting from the low 400s. BUT it's in Chino.
Click to expand...
No, bc we both work closed to irvine, chino is  too far to commute...I do like the low pricing though:)
 
Hello my friend,

We recently bought at Saratoga II. We compared Bakers Rank Park View, Portola Springs Colibri and Stonegate Saratoga.

You can see my whole thread when I asked for advice from the TI friends here:http://www.talkirvine.com/index.php/topic,11449.0.html

Pros and Cons of Saratoga II:
Pros: Walk to SG Elem, Conservatory room, courtyard entrance, Saratoga II close to JOST and Jeffrey (better than Saratoga 1)
Cons: Way overpriced (for that matter, all of Irvine is over priced), Motor home, No drive way, Lot is only 3000 sq ft (better than 2800 sq ft in Saratoga I).

In the end the wife won for the sake of kids and school.

Btw, we did have a surprise when we went to Stonegate Elem School for registration. They said all openings for KG are filled and that we will be allotted to Portola Springs school for a year. My wife got really furious and discussed at length with the SG Principal. He was nice man, he heard us patiently and explained that he will do his best. Next week, when we went to drop off the medical records, we met him and he said my daughter has been allotted a seat. Relief!
 
Sam78 said:
Hello my friend,

We recently bought at Saratoga II. We compared Bakers Rank Park View, Portola Springs Colibri and Stonegate Saratoga.

You can see my whole thread when I asked for advice from the TI friends here:http://www.talkirvine.com/index.php/topic,11449.0.html

Pros and Cons of Saratoga II:
Pros: Walk to SG Elem, Conservatory room, courtyard entrance, Saratoga II close to JOST and Jeffrey (better than Saratoga 1)
Cons: Way overpriced (for that matter, all of Irvine is over priced), Motor home, No drive way, Lot is only 3000 sq ft (better than 2800 sq ft in Saratoga I).

In the end the wife won for the sake of kids and school.

Btw, we did have a surprise when we went to Stonegate Elem School for registration. They said all openings for KG are filled and that we will be allotted to Portola Springs school for a year. My wife got really furious and discussed at length with the SG Principal. He was nice man, he heard us patiently and explained that he will do his best. Next week, when we went to drop off the medical records, we met him and he said my daughter has been allotted a seat. Relief!
Click to expand...

Sam was your child in the lottery drawing on 4/11? From what I was told by the front office ladies they won't know who will get in until next week (this week is spring break). Did the principal actually assured you a seat when many people were on the lottery and everyone is living in SG?

I'm in the same shoes and recently bought in Saratoga and we were in the lottery...
 
Minionbibi said:
Yes They still have 2 from phase 34 and the sales lady told me that phase 35 is the last phase for Saratoga.
Click to expand...

Do you have the price of the last phase?  Just wondering how much price increase has been made since its grand opening back in 2012 . :)
 
akirvine79 said:
Minionbibi said:
Yes They still have 2 from phase 34 and the sales lady told me that phase 35 is the last phase for Saratoga.
Click to expand...

Do you have the price of the last phase?  Just wondering how much price increase has been made on IP new homes since its grand opening back in 2012 . :)
Click to expand...

The sales lady did not disclose the price for the last phase, but here is the price for phase 34

Model 1 - 1907 sf is from 799,900 to 809,900 - 1 sold and 2 are available for sale.
Model 2 - 2181 sf is 857,700 reserved
Model 2X ( corner location) - 2181 sf is 867,700 sold
 
Sam78 said:
Hello my friend,

We recently bought at Saratoga II. We compared Bakers Rank Park View, Portola Springs Colibri and Stonegate Saratoga.

You can see my whole thread when I asked for advice from the TI friends here:http://www.talkirvine.com/index.php/topic,11449.0.html

Pros and Cons of Saratoga II:
Pros: Walk to SG Elem, Conservatory room, courtyard entrance, Saratoga II close to JOST and Jeffrey (better than Saratoga 1)
Cons: Way overpriced (for that matter, all of Irvine is over priced), Motor home, No drive way, Lot is only 3000 sq ft (better than 2800 sq ft in Saratoga I).

In the end the wife won for the sake of kids and school.

Btw, we did have a surprise when we went to Stonegate Elem School for registration. They said all openings for KG are filled and that we will be allotted to Portola Springs school for a year. My wife got really furious and discussed at length with the SG Principal. He was nice man, he heard us patiently and explained that he will do his best. Next week, when we went to drop off the medical records, we met him and he said my daughter has been allotted a seat. Relief!
Click to expand...

What is the reason why SG elementary school is overcrowded? Shouldn't the residents of SG get the first priority over the kids from other community, no? just try to get some insights from this board :)...thanks!
 
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