Orchard Hills - Capella by Taylor Morrison

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Paris said:
With the recent price drop that's pretty aggressive pricing on this home considering larger lot, landscaping and upgrades done. All crown moulding, garage has epoxy, all closets have cabinet systems in it. And the home has some nice views surrounding it unlike most Irvine homes with views of their neighbors homes.
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I would say this is normal pricing for this property.  If it dropped another $50k, then I would consider it aggressive pricing.  Landscaping seems very minimal with just some grass and pavers, but the interior upgrades are pretty nice.  Not sure if it's really 200k worth of upgrades though. Seems like a bit of an exaggeration. 

Anyone want to guess the depth of that backyard?  It looks like ~20ft to me, but it's hard to tell with the angle of the picture.
 
woodburyowner said:
Paris said:
With the recent price drop that's pretty aggressive pricing on this home considering larger lot, landscaping and upgrades done. All crown moulding, garage has epoxy, all closets have cabinet systems in it. And the home has some nice views surrounding it unlike most Irvine homes with views of their neighbors homes.
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I would say this is normal pricing for this property.  If it dropped another $50k, then I would consider it aggressive pricing. 
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If it drops another 100K then Paris's husband have to get the rust out of the guns because I will be Paris's neighbor
 
woodburyowner said:
Paris said:
With the recent price drop that's pretty aggressive pricing on this home considering larger lot, landscaping and upgrades done. All crown moulding, garage has epoxy, all closets have cabinet systems in it. And the home has some nice views surrounding it unlike most Irvine homes with views of their neighbors homes.
Click to expand...

I would say this is normal pricing for this property.  If it dropped another $50k, then I would consider it aggressive pricing.  Landscaping seems very minimal with just some grass and pavers, but the interior upgrades are pretty nice.  Not sure if it's really 200k worth of upgrades though. Seems like a bit of an exaggeration. 

Anyone want to guess the depth of that backyard?  It looks like ~20ft to me, but it's hard to tell with the angle of the picture.
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I think this house could easily drop another 50K...  maybe even another 100K
 
hello said:
I think this house could easily drop another 50K...  maybe even another 100K
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Since this is still an active selling development, the resale price floor will be set at what the builder is selling new units for.  At $1.4M, I would seriously consider purchasing this property.
 
woodburyowner said:
hello said:
I think this house could easily drop another 50K...  maybe even another 100K
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Since this is still an active selling development, the resale price floor will be set at what the builder is selling new units for.  At $1.4M, I would seriously consider purchasing this property.
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The sellers bought the house for $1,464,500 per Zillow.
 
How badly does the seller need it sold? $1.4m in this market doesn't sound too insane.  Nice house for someone.
 
woodburyowner said:
hello said:
I think this house could easily drop another 50K...  maybe even another 100K
Click to expand...

Since this is still an active selling development, the resale price floor will be set at what the builder is selling new units for.  At $1.4M, I would seriously consider purchasing this property.
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Capella has been dropping their prices because they are not selling well.  This seller may have to do the same.  If house was purchased at 1.464, this seller is already taking a hair cut even if it is sold at list price, which I highly doubt.  I predict the price will be need to be around 1.4M for this to sell at this current market.  With the market slowing down so much, I see no reason why buyers would jump at this house at the current valuation...

 
Because some buyers limit is 1.5m and that 1.6 is just out of reach?
And it's no longer available.
Should reserve any judgement until we know how much this one actually sells.
 
AW said:
Because some buyers limit is 1.5m and that 1.6 is just out of reach?
And it's no longer available.
Should reserve any judgement until we know how much this one actually sells.
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Exactly.  Most buyers at this price range are trying to put enough down payment to get the note at 1M to maximize the tax deduction.  It will be much more than 20% down already and every dollar above is an extra dollar they need to put as a down payment.
 
woodburyowner said:
AW said:
Because some buyers limit is 1.5m and that 1.6 is just out of reach?
And it's no longer available.
Should reserve any judgement until we know how much this one actually sells.
Click to expand...

Exactly.  Most buyers at this price range are trying to put enough down payment to get the note at 1M to maximize the tax deduction.  It will be much more than 20% down already and every dollar above is an extra dollar they need to put as a down payment.
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I think I got an extra $125k between the couch cushions, not!. I guess I'm not one of the lucky 1% ers of TI.
 
Yes, I do believe this property is still priced $50-$100K too high.  Also, as a potential buyer I'd be very concerned at Capella trending downward.  That's not what you want to see.  There's nothing you can do to improve upon the general dismal lot sizes and the ugly street design - worst neighborhood in the Groves and best avoided.
 
We visited Orchard Hills yesterday, and went to Capella, La Vita, and Saviero. We also looked at Strada. Definitely prefer the Groves over the non-gated side. La Vita was our favorite, but i also don't think Capella's neighborhood was that bad. Their floor plans are superb, and the homes are beautiful.

I think once OH sells out, there's some nice potential for appreciation on all Groves homes. Having looked at quite a few areas in Irvine, and being new to looking, OH is definitely one of our favorite areas.
 
"Definitely prefer the Groves over the non-gated side."

I prefer a BMW 7 Series over an Audi A4. There's a reason one costs a lot more than the other.

Are you concerned with the proximity to the 261? You can see it from some models, and hear it.
 
The other listing on here was also a reloc.  I presume this one is a reloc and my presumption is, whomever hired him (or if it is a transfer, his company) will cover the difference as part of his relocation package. Could even be a big 4 partner for all I know, as that is pretty common when they relocate. 
 
Perspective said:
"Definitely prefer the Groves over the non-gated side."

I prefer a BMW 7 Series over an Audi A4. There's a reason one costs a lot more than the other.

Are you concerned with the proximity to the 261? You can see it from some models, and hear it.
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I think it's a matter of personal preference with the toll. Personally I think it's hilarious that people think it's so noisy & bothersome, but I guess having lived near much noisier places, and bustling cities, I could care less about road noise - it's all relative.

Looking at OH from an investment standpoint, the Groves is a better investment overall for exclusivity & will have the potential for the highest appreciation.

 
Gulp. Your home you live in isn't an investment. It's a consumable item with a forced-savings feature that might result in a net gain over a long holding period; which will just be converted into another higher-priced house, unless you move to a lower cost locale.
 
Laguna21 said:
We visited Orchard Hills yesterday, and went to Capella, La Vita, and Saviero. We also looked at Strada. Definitely prefer the Groves over the non-gated side. La Vita was our favorite, but i also don't think Capella's neighborhood was that bad. Their floor plans are superb, and the homes are beautiful.

I think once OH sells out, there's some nice potential for appreciation on all Groves homes. Having looked at quite a few areas in Irvine, and being new to looking, OH is definitely one of our favorite areas.
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Hi Laguna21, why was La Vita your favorite?  I can see the appeal of Plan 4 with the view but thought the other plans were comparatively not desireables, I think some of them even had only a 9-foot ceiling while all other OH plans have a 10-feet ceiling on the first floor.

Also any reason you skipped Messina, Vicenza, and Amelia.  I think all these are now cheaper than La Vita?

Non one in this blog cares for KB Homes but I thought Vicenza Plan 1 was the second best in OH
 
Perspective said:
Gulp. Your home you live in isn't an investment. It's a consumable item with a forced-savings feature that might result in a net gain over a long holding period; which will just be converted into another higher-priced house, unless you move to a lower cost locale.
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Long-term liquid asset, absolutely not, but it is still the largest financial investment you'll make (in most cases) so it is important to be not only comfortable with the cost but comfortable with the long-term prognosis of what will happen with that asset.

Just cause you can afford it, doesn't always make it a good purchase. All that said, I think long-term, housing is still a good purchase, but I have more questions now then I would have 10 years ago given that we are going to be in a longer term raising rate scenario (vs. the long term declining scenario we were in for a long time). That said, I don't think this rate rising era will be as strong as the previous one. 
 
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