CalBears96
Well-known member
Sleepy lives in Lake Forest. I leave it at that...
Orchard Hills 4 - "The Summit" Updates
- Thread starter ratchet_resident
- Start date
NEW -> Contingent Buyer Assistance Program
who do you guys think you are? who in their right mind thinks they have the authority to invalidate someone's experience? blows my mind the type of people that live near me....it really does.
I bought IP home last year and they disclosed the info. Sale rep even told me that she had the signing session recorded on camera.
When i bought a home in Woodbury with Cal Pac in 2009. They also disclosed info about AAA and landfill.
I also bought CalPac (recently), but our sales office never explicitly disclosed anything. This is also important info, especially when considered together with what Danimal stated above.
Lennar at Serrano Summit returns the deposit if you tried but failed to secure a loan. However, IP specifically told potential buyers that the deposit (at least $30k) is NON-REFUNDABLE.
I leave it at that...
Any data that would be disclosed by sales at time of registering is completely valid.
Understand the difference?
I wasn’t happy about my experience w/IP and the fact they kept rushing me when I had more questions on something they didn’t mention to me upfront until I saw the disclosures was a huge problem I had with IP. I didn’t know Irvine much coming from LA so it was a shocker for me. But later on I realized it’s not only IP, but Lennar as well… so it’s definitely not an IP only thing and can be a salesperson dependent. Some will go over it but some won’t.
Lastly what I couldn’t stand was the fact they were rushing me and acting annoyed/impatient when I had more questions. Very unprofessional and really rubbed me the wrong way. Mind you I was a FTHB at the time so it shouldn’t be surprising if I asked more questions.
Obviously, shutting down AAA is great for OH4. However, the landfill is still an issue.
There is no reason to think OH4 residents specifically will be shouldering any additional costs for this. Although it is certainly possible that all Irvine residents end up paying for a theoretical shortfall/cost overruns.
sleepy5136
Well-known member
One doesn't need to close on a home to be able to comment on their experience. People can bail out mid-way ya know.
sleepy5136
Well-known member
so should i have told you that whatever you said about the meadows and serrano summit are invalid data points because you bought in Irvine?
who do you guys think you are? who in their right mind thinks they have the authority to invalidate someone's experience? blows my mind the type of people that live near me....it really does.
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Didnt know IP sold home in lake forest.
I bought IP home last year and they disclosed the info. Sale rep even told me that she had the signing session recorded on camera.
When i bought a home in Woodbury with Cal Pac in 2009. They also disclosed info about AAA and landfill.
CogNeuroSci
Active member
Finally, we have a builder other than IP (in this case CalPac) who also explicitly disclosed! Importantly, Danimal bought in 2009, which isn't that recent, indicating explicit disclosure is not limited to recently.
I also bought CalPac (recently), but our sales office never explicitly disclosed anything. This is also important info, especially when considered together with what Danimal stated above.
CalBears96
Well-known member
IP has the policy of not returning the deposit regardless of circumstances.
Lennar at Serrano Summit returns the deposit if you tried but failed to secure a loan. However, IP specifically told potential buyers that the deposit (at least $30k) is NON-REFUNDABLE.
I leave it at that...
CalBears96
Well-known member
Any data that would be explicit to reservation onward that I try to disclose regarding Serrano Summit and Meadows would be invalid data points, yes, because I would not be privy to them.
Any data that would be disclosed by sales at time of registering is completely valid.
Understand the difference?
CogNeuroSci
Active member
I see now.
sleepy5136
Well-known member
You do know you can back out after seeing the disclosures? You haven’t given EMD at that point.
I wasn’t happy about my experience w/IP and the fact they kept rushing me when I had more questions on something they didn’t mention to me upfront until I saw the disclosures was a huge problem I had with IP. I didn’t know Irvine much coming from LA so it was a shocker for me. But later on I realized it’s not only IP, but Lennar as well… so it’s definitely not an IP only thing and can be a salesperson dependent. Some will go over it but some won’t.
Lastly what I couldn’t stand was the fact they were rushing me and acting annoyed/impatient when I had more questions. Very unprofessional and really rubbed me the wrong way. Mind you I was a FTHB at the time so it shouldn’t be surprising if I asked more questions.
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irvinehomeowner
Well-known member
Explain freeway proximity, toxic plume and landfill in a Feng Shui manual and that will get more traction. 
Hi, new member potentially relocating to Irvine/OC. I’ve been reading the forum and trying to familiarize myself with all the different villages and areas of town. Some good insight here. Anyway, I came across this article earlier. What do people think it might mean for OH4?
https://voiceofoc.org/2023/05/irvine-approves-new-bond-debt-to-purchase-and-close-asphalt-plant/
https://voiceofoc.org/2023/05/irvine-approves-new-bond-debt-to-purchase-and-close-asphalt-plant/
CalBears96
Well-known member
We talked about this in another thread.
Obviously, shutting down AAA is great for OH4. However, the landfill is still an issue.
iacrenter
Well-known member
Ou
Ouch! It's going to cost you a lot more Mello Roos/Special Fees to live in OH4. OH3 Ravello homes (which are much cheaper/smaller homes) already have ~$4,000 in annual fees + 1% property tax. Add in another $360M bond in this high interest rate environment and maybe your fees exceed $10k. Starting to feel like the Great Park.
Ouch! It's going to cost you a lot more Mello Roos/Special Fees to live in OH4. OH3 Ravello homes (which are much cheaper/smaller homes) already have ~$4,000 in annual fees + 1% property tax. Add in another $360M bond in this high interest rate environment and maybe your fees exceed $10k. Starting to feel like the Great Park.
CalBears96
Well-known member
Is the cost of the bond going to OH4 residents, though?
iacrenter
Well-known member
Good question. Definitely on Gateway Park homes and probably OH4 to help spread the costs.
qwerty
Well-known member
I don’t think that it can work that way. The only things that can be charged to the homeowners are property taxes and mello Roos taxes. The MR are to build infrastructure so not sure how the acquisition costs of the factory would be allocated to OH4. Also, the rest of north Irvine homeowners benefit as well so even if there was a mechanism to pass it along to homeowners where would you draw the line? It’s interesting that irvine intends to pay off the bond off by selling land donated to Irvine by the Irvine company. And in all likelihood it would be the Irvine company who buys the land back. It seems like this may have been suggested to Irvine by the Irvine company. The Irvine company will bankroll the purchase of AAA and in exchange it will develop the area.
The city intends to sell 80 acres of land at Jeffrey and Portola to a developer and use the proceeds to repay the bond. It is assumed that they have a handshake deal with TIC, but this is a weird way to structure the deal. The Voice of OC article indicates that the city hasn’t been able to do any due diligence at the AAA site so they don’t what problems they are buying. Unsurprisingly, AAA knows the city is desperate and gave the city a take it or leave it offer. It isn’t clear from the article if the city has a plan b to repay the bond if the land sale doesn’t cover the costs of the acquisition and cleanup of the AAA site.
There is no reason to think OH4 residents specifically will be shouldering any additional costs for this. Although it is certainly possible that all Irvine residents end up paying for a theoretical shortfall/cost overruns.
iacrenter
Well-known member
Oops...didn't read the whole VOC article about the bond being paid for by the land sale. I still wouldn't be surprised if OH4 and Gateway homes have a higher MR for land remediation and building the extensive park/trail system. Some of it could also be offset by the city's insurance policy for surprise cleanup costs.