Orchard Hills - Capella by Taylor Morrison

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At these prices, Capella should attract prospective Strada buyers. Why wait and hope for a Strada Plan 3 that you want in an upcoming phase, when you can get a 20%+ larger house across the street near the same price?

SOLD Strada Plan 3s:
$1,263,000 - 2,750 sq ft floorplan, 4,558 sq ft lot ($87K builder upgrades)

$1,280,500 - 2,693 sq ft floorplan, 3,862 sq ft lot ($142K builder upgrades)

$1,312,789 - 2,693 sq ft floorplan, 5,115 sq ft lot ($65K builder upgrades)

$1,327,665 - 2,693 sq ft floorplan, 4,089 sq ft lot ($126K builder upgrades)

$1,353,931 - 2,693 sq ft floorplan, 6,693 sq ft lot ($99K builder upgrades)

FOR SALE Capella Plans:
$1,260,698 - 3,059 Sq. Ft. floorplan, Ready Feb, Plan 2 at 139 Long Fence (homesite 51)

$1,294,145 - 3,222 Sq. Ft. floorplan, Ready Now, Plan 2 at 123 Long Fence (homesite 57)

$1,329,827 - 3,233 Sq. Ft. floorplan, Ready Now, Plan 1 at 104 Horseback (homesite 53)

$1,335,600 - 3,223 Sq. Ft. floorplan, Ready Now, Plan 3 at 121 Long Fence (homesite 58)

$1,383,456 - 3,223 Sq. Ft. floorplan, Ready Now, Plan 3 at 105 Horseback (homesite 56)

$1,441,720 - 3,223 Sq. Ft. floorplan, Ready Now, Plan 3 at 124 Long Fence (homesite 19)
 
Those Strada lots are larger than I thought.  So much larger than Capella lots that are like 3,700 sqft.
 
Perspective said:
At these prices, Capella should attract prospective Strada buyers. Why wait and hope for a Strada Plan 3 that you want in an upcoming phase, when you can get a 20%+ larger house across the street near the same price?

SOLD Strada Plan 3s:
$1,263,000 - 2,750 sq ft floorplan, 4,558 sq ft lot ($87K builder upgrades)

$1,280,500 - 2,693 sq ft floorplan, 3,862 sq ft lot ($142K builder upgrades)

$1,312,789 - 2,693 sq ft floorplan, 5,115 sq ft lot ($65K builder upgrades)

$1,327,665 - 2,693 sq ft floorplan, 4,089 sq ft lot ($126K builder upgrades)

$1,353,931 - 2,693 sq ft floorplan, 6,693 sq ft lot ($99K builder upgrades)

FOR SALE Capella Plans:
$1,260,698 - 3,059 Sq. Ft. floorplan, Ready Feb, Plan 2 at 139 Long Fence (homesite 51)

$1,294,145 - 3,222 Sq. Ft. floorplan, Ready Now, Plan 2 at 123 Long Fence (homesite 57)

$1,329,827 - 3,233 Sq. Ft. floorplan, Ready Now, Plan 1 at 104 Horseback (homesite 53)

$1,335,600 - 3,223 Sq. Ft. floorplan, Ready Now, Plan 3 at 121 Long Fence (homesite 58)

$1,383,456 - 3,223 Sq. Ft. floorplan, Ready Now, Plan 3 at 105 Horseback (homesite 56)

$1,441,720 - 3,223 Sq. Ft. floorplan, Ready Now, Plan 3 at 124 Long Fence (homesite 19)
Click to expand...

Those are some nice lot sizes in Strada, almost 7K sqft on one of them? @ Perspective...I'm not familiar with builder upgrades (never bought new), do you know what they got for $142K for a 2,700 sqft house? Are the floors gold plated?
 
Spending $142K on builder upgrades for a ~2,700 sq ft house isn't as hard as it sounds. They definitely upgraded flooring throughout the house with the builder (~$50K), structural upgrades (CA room/conservatory (~$18K), counters in kitchen and baths, cabinets, appliances, and then all of the small things that add up quickly.
 
Looks like Taylor Morrison is offering a "going out of business" sale. Actually they have just dropped the prices on some recently completed homes to match the price drops they gave in previous phases, some price drops on their web-site have not been inputted into the MLS yet. They still have standing inventory from houses completed six months ago! Their lackadaisical sales have been an issue for quite some time now - in the meantime Strada went through quite a few phases. The buying public has generally gave this development a thumbs down so I would be cautious about buying here. In the back of my feeble mind, before I buy the thought is Why are sales slow? and What am I missing? Typically new home buyers are not quite as picky as those searching for existing homes as resale buyers have more choices plus they can see the final product and notice/compare everything. That "New Home smell" is almost like an aphrodisiac. Imagine how much difficulty one may have trying to sell one of these in the future resale market? You can now almost buy a larger home in the prestigious Groves for the same price as a smaller home in the pedestrian Irvine Pacific enclave. Doesn't bode well for Capella II further up the hill. 
 
I see the realestate agent for the link above is Richmond America.  It seems like the builder is putting their inventory on redfin and sites like that so to cast a wider net.
 
DrTravel said:
Looks like Taylor Morrison is offering a "going out of business" sale. Actually they have just dropped the prices on some recently completed homes to match the price drops they gave in previous phases, some price drops on their web-site have not been inputted into the MLS yet. They still have standing inventory from houses completed six months ago! Their lackadaisical sales have been an issue for quite some time now - in the meantime Strada went through quite a few phases. The buying public has generally gave this development a thumbs down so I would be cautious about buying here. In the back of my feeble mind, before I buy the thought is Why are sales slow? and What am I missing? Typically new home buyers are not quite as picky as those searching for existing homes as resale buyers have more choices plus they can see the final product and notice/compare everything. That "New Home smell" is almost like an aphrodisiac. Imagine how much difficulty one may have trying to sell one of these in the future resale market? You can now almost buy a larger home in the prestigious Groves for the same price as a smaller home in the pedestrian Irvine Pacific enclave. Doesn't bode well for Capella II further up the hill.
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I think you make some good points.  Doesn't instill much confidence in the builder for Capella II if they're struggling to sell existing homes.  It'll be interesting whether Capella II offers bigger lots and better street design than Capella I.  The downside to buying in the cheapest neighborhood behind the gates is ... you've bought in the cheapest neighborhood behind the gates.  That sticks, especiallywhen you're dealing with $1M+ properties. 
 
Jonah said:
DrTravel said:
Looks like Taylor Morrison is offering a "going out of business" sale. Actually they have just dropped the prices on some recently completed homes to match the price drops they gave in previous phases, some price drops on their web-site have not been inputted into the MLS yet. They still have standing inventory from houses completed six months ago! Their lackadaisical sales have been an issue for quite some time now - in the meantime Strada went through quite a few phases. The buying public has generally gave this development a thumbs down so I would be cautious about buying here. In the back of my feeble mind, before I buy the thought is Why are sales slow? and What am I missing? Typically new home buyers are not quite as picky as those searching for existing homes as resale buyers have more choices plus they can see the final product and notice/compare everything. That "New Home smell" is almost like an aphrodisiac. Imagine how much difficulty one may have trying to sell one of these in the future resale market? You can now almost buy a larger home in the prestigious Groves for the same price as a smaller home in the pedestrian Irvine Pacific enclave. Doesn't bode well for Capella II further up the hill.
Click to expand...
I think you make some good points.  Doesn't instill much confidence in the builder for Capella II if they're struggling to sell existing homes.  It'll be interesting whether Capella II offers bigger lots and better street design than Capella I.  The downside to buying in the cheapest neighborhood behind the gates is ... you've bought in the cheapest neighborhood behind the gates.  That sticks, especiallywhen you're dealing with $1M+ properties. 
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Capella II will not have bigger lot, the lot is still 47' X 80', 3760 sq.ft.

Pretty soon the Capella will not be the lowest priced home behind the gate.  When the Mulberry clone rolling out at OH North, it will be the lowest priced home. 
http://www.talkirvine.com/index.php/topic,12176.msg279893.html#msg279893

 
Looks like they still haven't found a sucker...er I mean buyer for the double death house. The dreaded number 4 - address is 114 and lot number is 24 Even a price drop from $1,386,330 to $1,365,615 last month didn't do the trick. We contemplated offering them $1.25 mil in December but the sales lady said $1.37 was about as low as they would go because they had already dropped the price from their July 2015 $1,507,280. When they finally sell this thing it will surely cause headaches for future appraisals. Don't you just love superstitions! 
https://www.redfin.com/CA/Irvine/114-Long-Fence-92602/home/87555355
 
DrTravel said:
Looks like they still haven't found a sucker...er I mean buyer for the double death house. The dreaded number 4 - address is 114 and lot number is 24 Even a price drop from $1,386,330 to $1,365,615 last month didn't do the trick. We contemplated offering them $1.25 mil in December but the sales lady said $1.37 was about as low as they would go because they had already dropped the price from their July 2015 $1,507,280. When they finally sell this thing it will surely cause headaches for future appraisals. Don't you just love superstitions! 
https://www.redfin.com/CA/Irvine/114-Long-Fence-92602/home/87555355
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That is not the only house there that has double death there.  124 Long Fence is also at a T-Junction
 
DrTravel said:
Looks like they still haven't found a sucker...er I mean buyer for the double death house. The dreaded number 4 - address is 114 and lot number is 24 Even a price drop from $1,386,330 to $1,365,615 last month didn't do the trick. We contemplated offering them $1.25 mil in December but the sales lady said $1.37 was about as low as they would go because they had already dropped the price from their July 2015 $1,507,280. When they finally sell this thing it will surely cause headaches for future appraisals. Don't you just love superstitions! 
https://www.redfin.com/CA/Irvine/114-Long-Fence-92602/home/87555355
Click to expand...

The 3,760 sq ft lot should scare away a sufficient amount of non-superstitious folk to make this price drop further.
 
Perspective said:
DrTravel said:
Looks like they still haven't found a sucker...er I mean buyer for the double death house. The dreaded number 4 - address is 114 and lot number is 24 Even a price drop from $1,386,330 to $1,365,615 last month didn't do the trick. We contemplated offering them $1.25 mil in December but the sales lady said $1.37 was about as low as they would go because they had already dropped the price from their July 2015 $1,507,280. When they finally sell this thing it will surely cause headaches for future appraisals. Don't you just love superstitions! 
https://www.redfin.com/CA/Irvine/114-Long-Fence-92602/home/87555355
Click to expand...

The 3,760 sq ft lot should scare away a sufficient amount of non-superstitious folk to make this price drop further.
Click to expand...
It's not the lot size on 114 since there is no one behind and the lot is elevated and has view.  The non-superstitious probably don't like that in front of their house there is a parking area.
 
DrTravel said:
Looks like they still haven't found a sucker...er I mean buyer for the double death house. The dreaded number 4 - address is 114 and lot number is 24 Even a price drop from $1,386,330 to $1,365,615 last month didn't do the trick. We contemplated offering them $1.25 mil in December but the sales lady said $1.37 was about as low as they would go because they had already dropped the price from their July 2015 $1,507,280. When they finally sell this thing it will surely cause headaches for future appraisals. Don't you just love superstitions! 
https://www.redfin.com/CA/Irvine/114-Long-Fence-92602/home/87555355
Click to expand...

so I guess "1.37 is the lowest we can go" was BS since the price is now 1.365m.  When my buddy went there last month, the sales lady was begging him for an offer.  After the 5th time she asked him to make an offer, he literally said the only way I would make an offer is with a Low ball offer.  Her reply was "ok thats fine".  This house is still way overpriced at 1.365M.  These houses have no lot space and in Irvine you are paying mostly for the land.  They advertise a view, but the view there is horrible.  I suspect the homes that will be built behind it will eventually obstruct most if not all the views.  And if they dont, the trees growing behind the house will for sure.  This house wont sell unless there are more price reductions...
 
Jonah said:
Can they not even give these homes away?
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Could you be any more dramatic? Why are all the Strada buyers so critical of Capella? It's definitely not the best seller in OH, but if I had my choice, I'd rather be on the gated side in Capella and get a good deal out of them vs the most expensive homes on the non-gated community (Strada), even if you get TUSD.

 
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