Orchard Hills - Capella by Taylor Morrison

[JBean72]

Capella may have only sold 27 homes out of 72 (or however many there are) but phases aren't released yet - They had a HUGE wait list when they started selling. It was over 200 people for the 70 odd homes available and growing. I've seen the list, and they have several people with their names on the homes already - we were at the top of the list, and we still had a hard time getting our first choices, because many were already taken.

I think Capella will sell out without a problem, and hold it's value very well

Also, nothing wrong with TUSD, they are great schools.

 

[bones]

Capella may have only sold 27 homes out of 72 (or however many there are) but phases aren't released yet - They had a HUGE wait list when they started selling, and I've seen the list, and they have several people with their names on the homes already - we were at the top of the list, and we still had a hard time getting our first choices, because many were already taken.

I think Capella will sell out without a problem, and hold it's value very well

Also, nothing wrong with TUSD, they are great schools.

Then what's wrong with these 4 or 5 homes listed as "available" on the TayMo website? No one from the waitlist wants them? Or are they not really available.
http://www.taylormorrison.com/new-h...rnia/irvine/capella-community/homes-ready-now

 

[JBean72]

Not sure on that, I could ask them and see if I can get any info - I think some of the ones sitting may be the ones with smaller lot sizes - but eventually they will all sell out, it's a matter of time - our phase is getting released soon. Weather also delayed phases getting released by a month, but things should start to pick up again.

 

[eyephone]

Also, nothing wrong with TUSD, they are great schools.

Yeah, people that live around here knows Beckman is a good HS. But people overseas, would prefer the Irvine School District.

 

[gasman]

Every time I've spoken with the sales office at Capella (after getting pre-qualified), they practically begged me to go in and pick a lot, as many were available.  The initial pre-qual list was indeed over 200, but the vast majority of them have moved on.

 

[JBean72]

That's very true - it's all perception with IUSD - Irvine is a brand name, but little do they know that TUSD is right up there with them, and has fantastic schools.

 

[gasman]

That's very true - it's all perception with IUSD - Irvine is a brand name, but little do they know that TUSD is right up there with them, and has fantastic schools.

Only true for a few TUSD properties, like Beckman, Myford, etc.  The rest of the TUSD schools are completely neglected.

 

[JBean72]

Hmmmm maybe things have changed since then. I think that's just natural attrition of people on the wait list - there's always the initial hype, and then people move on, and discover new areas or homes.

I have no doubt that Capella will sell out, it's a matter of time.

Same thing happened in Portola Springs - it seemed like there were a lot of homes sitting around - eventually they sold out, and many of the 1st and 2nd phase buyers made out with over 200K equity in their homes 2-3 years later, and upgraded their homes to PP. Just have to be patient.

 

[eyephone]

That's very true - it's all perception with IUSD - Irvine is a brand name, but little do they know that TUSD is right up there with them, and has fantastic schools.

But your not going to put that on the property description regarding TUSD. Even if you did put TUSD have fantastic schools, they won't believe/wont care and still believe IUSD is the best. (This is also true, for people living around here)

 

[woodburyowner]

Capella may have only sold 27 homes out of 72 (or however many there are) but phases aren't released yet - They had a HUGE wait list when they started selling. It was over 200 people for the 70 odd homes available and growing. I've seen the list, and they have several people with their names on the homes already - we were at the top of the list, and we still had a hard time getting our first choices, because many were already taken.

I think Capella will sell out without a problem, and hold it's value very well

Also, nothing wrong with TUSD, they are great schools.

I was there first week also and the place was packed.  The sales agent really wasn't interested in answering all of questions since he already had a huge waiting list.  I remember him telling me that basically all the lots were "spoken" for and if I really wanted one, I could wait towards the end of the phase releases.  Fast forward 9 months and his wait list is basically non-existent and larger lots are still available.  No one cares about how it WAS, it's all about how it is now and based on the sales numbers and sales price numbers, it's not looking good.

 

[Paris167]

a

 

[Irvine Dream]

Anyway at the end of the day although the "investment" aspect is relevant, it should be more important that you are happy with your home purchase and enjoy the surroundings that home is located in. Personally I'll take a 4000 sqft lot facing serene orchards any day over a 10k sqft lot right next to the 5 freeway - but then again that's just my preference.

Floorplan - Check
Happiness - Check
Exclusivity - Check
Investment - Potential check
Diversity - May be you can help answer this Mostly Asians?  Mostly owners or mostly renters?
Lot size - I thought most of them were less than 4,000 sq ft, like 3,700? - Big  X

 

[bones]

Of the 7 phases released so far they only have 5 on the market for sale, so what?

So nothing.  It's not crazy to have 5 homes sitting on the market for sale but people keep saying that there are hundreds of people on the waiting list and everything can be sold out if TM released everything at once.  Just trying to figure out what is what, that's all.  I agree that this tract will sell out eventually - they all do right?

 

[eyephone]

Of the 7 phases released so far they only have 5 on the market for sale, so what? Eventually they'll sell as we enter into the spring and summer months which are favorable for home sales. Otherwise I too have seen the recent lot page they have at sales where a lot of those view lots are reserved already and awaiting future phase release so purchase contracts can be signed.

Certainly perception tells us IUSD > TUSD but I think over time neighborhood brand names are created such as "Turtle Ridge", "Laguna Altura" and "Lambert Ranch" brand names. So eventually I believe "The Groves at OH" will also become a brand name in itself and at that point buyers will know that the TUSD schools linked to this particular neighborhood is superior to the other schools within the TUSD.  FCBs are all about brand name and some of these neighborhoods mentioned have got their attention as more exclusive than others in Irvine.

Anyway at the end of the day although the "investment" aspect is relevant, it should be more important that you are happy with your home purchase and enjoy the surroundings that home is located in. Personally I'll take a 4000 sqft lot facing serene orchards any day over a 10k sqft lot right next to the 5 freeway - but then again that's just my preference.

So your comparing this to LR, LA, and TR. Hmm

 

[Paris167]

a

 

[lnc]

Anyway at the end of the day although the "investment" aspect is relevant, it should be more important that you are happy with your home purchase and enjoy the surroundings that home is located in.

Historically a house is a lousy investment, it hardly keep up with the inflation and it's such a big,  long term expense.  So just like you said, the most important thing is that you like the house and happy with what you pay for. 

Regarding to the sale pace for these 1.4 m+ homes, it seems just about right for something at this price range.  It's just all the hype at the beginning makes us think the sale would be a lot better and sort of surprised by the current sale pace. 

 

[qwerty]

Pavilion park sold at a very fast pace. Orchard Hills does not seem to be selling at the same fast pace. Eventually everything sells. Given the pace the phases are being released the demand does not seem to be there for OH. I think bones said three houses a month for Capella  are being sold. Shapell was selling 3 homes a month in yorba Linda back in 2010-2011.

 

[Irvine Dream]

Pavilion park sold at a very fast pace. Orchard Hills does not seem to be selling at the same fast pace. Eventually everything sells. Given the pace the phases are being released the demand does not seem to be there for OH. I think bones said three houses a month for Capella  are being sold. Shapell was selling 3 homes a month in yorba Linda back in 2010-2011.

Even in PP I trust Melrose was slow to sell and did not see significant price increase from the first phase to the last one.  So seems like there is some resistance at the 1.5 million price level.  (Of course the Trevis and Hidden Canyon which are more than $2 million have strong demands.  The rich are getting richer.)

It will be interesting to see at what price point similar square footage houses in BP will start at.  They obviously can't start too low like PP and can't risk to start too high either.  It will also be interesting to see how BP will compete against OH and Greenwood.

 

[bones]

Pavilion park sold at a very fast pace. Orchard Hills does not seem to be selling at the same fast pace. Eventually everything sells. Given the pace the phases are being released the demand does not seem to be there for OH. I think bones said three houses a month for Capella  are being sold. Shapell was selling 3 homes a month in yorba Linda back in 2010-2011.

Even in PP I trust Melrose was slow to sell and did not see significant price increase from the first phase to the last one.  So seems like there is some resistance at the 1.5 million price level.  (Of course the Trevis and Hidden Canyon which are more than $2 million have strong demands.  The rich are getting richer.)

It will be interesting to see at what price point similar square footage houses in BP will start at.  They obviously can't start too low like PP and can't risk to start too high either.  It will also be interesting to see how BP will compete against OH and Greenwood.

Melrose and Capella aren't an apples to apples comparison both in SF (melrose is much bigger) and in price (melrose was never $1.3M).  The comparison you want to make is with Harmony.  Harmony sold 34 homes in the first 7 or so months.  Capella is at 27 in 9 months.  So similar but Harmony's pace was definitely faster.  Harmony is a smaller project (40ish homes) so it obviously will sell out much faster.  Everything has sold except for that 1 T-home.

 

[JBean72]

Capella will sell out eventually - like an earlier post, if you love your home, that's all that matters.

All the positives are there, location, design, great floorpan, exclusive, and I think even short-term, in 3 years you will have more equity.

I've seen other developments sell very slowly, but in the end they sold out, and still people had equity to upgrade and move into better neighborhoods.

If I had any doubt about Capella, we never would have bought in the first place and even had a chance to back out for awhile.