New communities in Portola Springs

NEW -> Contingent Buyer Assistance Program
View lot premiums are getting out of hand, though. When IP first released Cielo last July, they were charging $100k for view lots because these were mountain view. However, I was told back then already that they were going to charge $1M for city view lot premium. However, by April, when things started picking up and view lots were selling like hot cakes, IP decided to increase view lot premium to $250k.

And now, when Olivewood released their first city view lot, they added $900k premium. Still, builders are differentiating between mountain view and city view. However, delusional sellers just decided to add $900k for mountain view lot as well. 😂

Basically, there's a Cielo plan 2 coming to the market soon, as soon as the buyer/soon-to-be-seller picks up the keys from IP in December. The home was reserved for $2.9M back in April, and now the listing price will be $3.5M. The 2 non-view lot Plan 2 homes that Shea Homes is releasing on 11/18 will be $2.68M, and their lot size are 800 and 1100 sq ft bigger than this one.
 
CalBears96 said:
Plans 2, 3, and 4, all have a loft. What I like is that these 3 plans also allow you to choose a huge shower only in master bath instead of shower + useless tub. 😂
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Whoops! I think I was on autopilot and used to the previous iterations of these plans without LOL. The plan 4 has more of a true loft feel IMO. The plan 2 & 3 remind me more of a bonus room (not open railed to the stairs).
 
PS new constructions seem to be selling like hot cakes. All four communities have sold out their first phase release. Arbor, Azul, and Cielo each released 5 homes. Olivewood home released 3 homes (part of their 10 homes for phase 1). Olivewood is supposed to release 4 more homes on Monday. Cielo sold out a day before grand re-opening on 11/18. Azul sold out a couple days ago. Some agent mentioned that Arbor is sold out. Olivewood was even able to sell the house on extremely small lot at a T-junction.

I guess it's FOMO again. It's great news for me since I want to sell my Bluffs 2 as soon as I move into Cielo. 😂
 
CalBears96 said:
PS new constructions seem to be selling like hot cakes. All four communities have sold out their first phase release. Arbor, Azul, and Cielo each released 5 homes. Olivewood home released 3 homes (part of their 10 homes for phase 1). Olivewood is supposed to release 4 more homes on Monday. Cielo sold out a day before grand re-opening on 11/18. Azul sold out a couple days ago. Some agent mentioned that Arbor is sold out. Olivewood was even able to sell the house on extremely small lot at a T-junction.

I guess it's FOMO again. It's great news for me since I want to sell my Bluffs 2 as soon as I move into Cielo. 😂
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Like I mentioned, the lack of resale inventory is driving these homes selling so fast. The view lots are the hottest tickets in town and most of the buyers on the waitlists are waiting for those homes.
 
usctrojancpa said:
Like I mentioned, the lack of resale inventory is driving these homes selling so fast. The view lots are the hottest tickets in town and most of the buyers on the waitlists are waiting for those homes.
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You're exactly right about the view lots. And the thing is, about half of the remaining homes in Azul, Cielo, and Olivewood are view lots. There's a lot of money to be had by the builders because these view lots will sell better than hot cakes. I only got my Cielo home because the people in front of me were waiting for view lots. 😂
 
CalBears96 said:
You're exactly right about the view lots. And the thing is, about half of the remaining homes in Azul, Cielo, and Olivewood are view lots. There's a lot of money to be had by the builders because these view lots will sell better than hot cakes. I only got my Cielo home because the people in front of me were waiting for view lots. 😂
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Poor Calbears - he is going to be one of the poor neighbors in his $2.7M home :)
 
CalBears96 said:
Yeah, I told my wife that we're going to the be the poorest people in the Cielo community. 😂 The only consolation is that Cielo is the best community in PS.
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It's hard to be one of the rich neighbors when you keep making financial mistakes. Renting the Bluffs 2 like your neighbors would have been the smart financial decision.
 
irvinehomeowner said:
Trying to catch up here but is Fiore the started detached home hood?
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I would say so, yes. Fiore floorplans are smaller than Hillside and Arbor. Lapis is smaller, but Plan 1 is probably attached condo while Plan 2 could be detached.

Normally, I would say that Fiore will have a tough time selling since Arbor is sitting at a much nicer location. However, the interest in Arbor is so overwhelming that Shea Homes stopped allowing people to even get on the priority list now. This would probably force potential buyers who weren't already on the Arbor priority list to go for Fiore.
 
Am I blind or do they not show prices anymore on the website? I get that Fiore is Coming Soon but I couldn't find prices for Arbor either.

At least Fiore has a 4-br bedroom. Can't imagine playing $1m+ and only getting 3 bedrooms.
 
irvinehomeowner said:
Am I blind or do they not show prices anymore on the website? I get that Fiore is Coming Soon but I couldn't find prices for Arbor either.

At least Fiore has a 4-br bedroom. Can't imagine playing $1m+ and only getting 3 bedrooms.
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Arbor is by Shea Homes. The prices on their website, but Arbor is sold out also. They finally updated it to "Temporarily sold out".
 
Ahh... I was using the VillagesOfIrvine.com website and in the past you could see all pricing and even search by pricing. They must know LL is mad at the high prices so they took it off for him. :)
 
Wow, my wife just told me that some agent said that Shea Homes now also closed the priority list for Cielo. Shea has a tendency to do that when they think they have enough buyers. Before I bought Bluffs, I tried to get on their priority list for Teresina, but they wouldn't let me. I just thought that they did that because it was right around the last 2-3 phases back then, so they just closed the list.

But when I met with sales lady when we signed the reservation, she did say that Cielo was also overwhelmed with interest. I guess Chinese money is still screwing with Irvine real estate. At the sales office, they even had a flyer labeled "Foreign Nationals". I'm just glad that I got in. 😂
 
irvinehomeowner said:
When I ride up in Portola Springs, it amazes me how many homes they are still building.

And buyers keep buying. Crazy.
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Ikr. In the past month, 23 homes (5 Arbor, 5 Cielo, 6 Azul, 7 Olivewood) have been released and they sold out quick. The agent who said that Arbor was sold out a couple weeks ago said that even she put herself on Arbor priority list. For investment, I suppose.
 
irvinehomeowner said:
When I ride up in Portola Springs, it amazes me how many homes they are still building.

And buyers keep buying. Crazy.
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When I go through Portola Springs, I'm still shocked by the pricing of the homes. I remember for basically a decade or more, PS was the value village (not that that's bad). It's become a mini Quail Hill/Orchard Hills. Funny too because the first phases of PS always reminded me of QH too.
 
I was talking to Cielo sales lady this morning when an agent brought in his client to look at the model homes. Sales lady confirmed that Cielo priority list is now closed because they got overwhelming interest.
 
CalBears96 said:
Ikr. In the past month, 23 homes (5 Arbor, 5 Cielo, 6 Azul, 7 Olivewood) have been released and they sold out quick. The agent who said that Arbor was sold out a couple weeks ago said that even she put herself on Arbor priority list. For investment, I suppose.
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Curious why you did not mention Sierra
 
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