Orchard Hills - Capella by Taylor Morrison

[Ready2Downsize]

I held on and made out but the key was that we never lived beyond our means and I was so debt risk averse that I have always paid extra off on my real estate. Our TR house was bought when there were adjustable loans that adjusted every 6 months after an initial time of a year or two. It ended up working out for us because rates dropped and when the payments adjusted, it was based on the principle still owed (which kept dropping) but there were plenty of people who lost their homes to foreclosure.

I think I mentioned once before that every time we have bought a new home it was the peak or the economy took a dive........... every time. (my current house kept going up in price but my hubby was laid off 6 weeks after we bought this place and Greenspan came to the rescue dropping rates leading to the dot com bubble).

So............. on to my next place and if the market has peaked again u can blame me or look at it like it was some kind of leading indicator on when not to buy.

 

[Irvine Dream]

I held on and made out but the key was that we never lived beyond our means and I was so debt risk averse that I have always paid extra off on my real estate.

Funny things is I am now blaming my risk averse ways for the situation that I am in.  I could have easily bought a nice house that we would have qualified and could have lived in forever but I didn't because I wanted to be safe (like other posters living within one income etc).  Now I am going entirely opposite way to get in to a house with maximum credit.  To each its own but I would be advising my children to buy a house that they can live in for a long haul and that they really like even if it means extending yourself a little.

 

[Laguna21]

That's good advice actually.

I know people that cringed at the thought of paying a mortgage on a house in Los Gatos in the Bay Area back in the 80's. But they made it work. Now they're sitting pretty with a 3 bedroom modest home worth well over 1.5 mil, and that was also purchased on an RN's salary, single income at the time.

If you can afford to pay the mortgage, and keep it for the long haul, even through the downtrends in the market, a home truly is one of the best & smartest investments you can ever make.

 

[lovingit]

Did anyone see the corner house with the blue and red landscape lights?  What are people thinking?

 

[Paris167]

Did anyone see the corner house with the blue and red landscape lights?  What are people thinking?

That is actually a violation of our CC&R. Maybe they'll take it down after 4th of July

 

[Irvine or Bust]

Did anyone see the corner house with the blue and red landscape lights?  What are people thinking?

Can't imagine that looking any good, wish I could see. How did you see it? Aren't the gates closed at night?

 

[shadyoc]

Did anyone see the corner house with the blue and red landscape lights?  What are people thinking?

That is actually a violation of our CC&R. Maybe they'll take it down after 4th of July

Do people really report these things to the city?

 

[eyephone]

Did anyone see the corner house with the blue and red landscape lights?  What are people thinking?

That is actually a violation of our CC&R. Maybe they'll take it down after 4th of July

Do people really report these things to the city?

They report it to the HOA.

 

[Irvine Dream]

Did anyone see the corner house with the blue and red landscape lights?  What are people thinking?

Can't imagine that looking any good, wish I could see. How did you see it? Aren't the gates closed at night?

The community is open to pedestrians- riff-raff and all- 24 hours a day.  Very difficult to imagine living in homes close to 2 million with perps looking down at your house (these houses are yet to be built though) from the walking trails

 

[jyeh74]

Did anyone see the corner house with the blue and red landscape lights?  What are people thinking?

Can't imagine that looking any good, wish I could see. How did you see it? Aren't the gates closed at night?

The community is open to pedestrians- riff-raff and all- 24 hours a day.  Very difficult to imagine living in homes close to 2 million with perps looking down at your house (these houses are yet to be built though) from the walking trails

,

Why is Capella getting the most hate on the Groves side?  Other than the small lots, the floorplans are pretty nice.  They have a higher elevation that the homes on the Messina, La Vita, Saviero and Vicenza side, which is nice and convenient to the pool.  I can see the sentiment on the no cul-de sacs and high starting prices.  My friend who bought there side TM jacked them by not giving them side gates but seem pretty happy so far.

 

[jyeh74]

TM did say they are building some homes near the toll that is suppose to start around the same prices.  Good luck with that.

 

[WTTCHMN]

Did anyone see the corner house with the blue and red landscape lights?  What are people thinking?

Can't imagine that looking any good, wish I could see. How did you see it? Aren't the gates closed at night?

The community is open to pedestrians- riff-raff and all- 24 hours a day.  Very difficult to imagine living in homes close to 2 million with perps looking down at your house (these houses are yet to be built though) from the walking trails

,

Why is Capella getting the most hate on the Groves side?  Other than the small lots, the floorplans are pretty nice.  They have a higher elevation that the homes on the Messina, La Vita, Saviero and Vicenza side, which is nice and convenient to the pool.  I can see the sentiment on the no cul-de sacs and high starting prices.  My friend who bought there side TM jacked them by not giving them side gates but seem pretty happy so far.

Because TayMo was too cheap to hire shills for TI.

 

[lnc]

Why is Capella getting the most hate on the Groves side?  Other than the small lots, the floorplans are pretty nice. 

Mostly it's due to the small lots and its price.  People tend to be more critical for such an expensive home.  If the price was lower, people will overlook a lot of things.

 

[Perspective]

Why is Capella getting the most hate on the Groves side?  Other than the small lots, the floorplans are pretty nice. 

Mostly it's due to the small lots and its price.  People tend to be more critical for such an expensive home.  If the price was lower, people will overlook a lot of things.

It is a bit odd that Capella seems to receive the brunt of TI wrath. Whatever you dislike about Capella, you can almost certainly say about nearly every Groves development. Messina has tiny lots too.

 

[hello]

Why is Capella getting the most hate on the Groves side?  Other than the small lots, the floorplans are pretty nice. 

Mostly it's due to the small lots and its price.  People tend to be more critical for such an expensive home.  If the price was lower, people will overlook a lot of things.

It is a bit odd that Capella seems to receive the brunt of TI wrath. Whatever you dislike about Capella, you can almost certainly say about nearly every Groves development. Messina has tiny lots too.

Funny you say that.  As I was reading the previous thread, I was thinking all these homes are overpriced with small lots, not just Capella.  Builders are gonna have a hell of a time selling the rest of these unless they start dropping their prices...

 

[Ready2Downsize]

Rather than dropping prices, they will just up incentives in the design center or against closing costs.

That's why I think it will be difficult to compete as a reseller with so many new homes available.

Mirador in Rancho San Juan is offering 50K incentives. Their home prices are comparable to Stafford or Crawford.

 

[Bullsback]

That said, new home prices are at an all time high (in terms of premium vs. resale). This is based on articles I've read...no actual statistical work done on my part to see how true / bogus that info really is.  All that said, builder clearly has ability to cut, but they also have some existing room in profit margins (depending on the deals they got with Five Points / TIC. 

 

[DrTravel]

Visited Capella a few days ago to see how things are progressing. Seems that most homes sold there were on redfin at one time and were bought at huge discounts. Feel sorry for those who bought early or paid full retail. Community felt cramped but it is the most affordable option in the groves. Surrounding area nice and close to the Resort. Offers $27K broker co-op and takes contingent buyers. The ridiculously small backyards have been beaten to death here, but that is a common theme in much of Orchard Hills (and the upcoming Eastwood). The last three phases contained 17 lots, of which only 3 have sold (lots 13, 15 and 55). These lots all had one thing in common -  an actual back yard!

We liked plan 2 the best so checked out the three on the price sheet (there were 4 others available). Immediately noticed that lots 21 and 24 were both fully upgraded with a view. Checked them out and both were equally upgraded but 24 was $60K cheaper than 21. The view (plexiglass wall) was primarily looking down on Vicenza and the landscaping hiding the 261 toll way. Was there at 4 PM and you can definitely hear the 261 from the upstairs balcony. It wasn't that close but it seems that the noise carries farther uphill. Later on drove down to Vicenza which is right next to the 261 - a tad bit louder down there. Also looked at lot 51 which didn't have a view or flooring installed. Figured $40K for flooring so lots 51 and 24 were essentially the same price. So lots 24 looked like the best deal - plus you can always offer less.

So naturally I wondered why a view lot (24) was the same price as a non-view lot (51) and why one view lot (24) was less than another view lot (21). Checked the redfin listing and saw the price drops from $1,507,280 to $1,386,330 where it has been for almost 3 months, but no takers. Was thinking about making an offer but one has to be scared to buy something that nobody wants! Could the only "logical" explanation be the curse of the number 4 which sounds like death in Chinese! The address is 114 Long Fence. If you say 114 in Chinese it basically sounds like "Very soon to die". Lot number is 24. If you say 24 in Chinese it sounds like "Easily dying". A double wammy of death! So no Chinese will be buying this property. And I guess they are the only customers for the project as number 4 doesn't have any significant meaning to Koreans, Indians, and that minority - Caucasians.

Capella seems to be a favorite bashing item on these boards, so bash away!   

 

[aquabliss]

Offer $1.25M on lot 24.  At some point it's a good deal regardless of the deathwish.

Do these view lots have plexiglass fence in back or stone walls?  I would think the plexiglass would make the yard feel much bigger.

 

[Perspective]

We lived in a rental house less than a mile from the 5 in Harvard Square. You can definitely hear it very well at night and in the morning. It's not a complete dealbreaker, but it is a serious consideration. A nice water feature in the backyard can offset this, but there are many lots in Capella and others with views of the 261.