Orchard Hills fantasy pricing

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garfangle_IHB

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I recall last year when TIC sent out literature about the Orchard Hills community it projected the homes would start at $1+ million for 2500 sqft and greater. That works out to be about $400/sqft. With much of the upper end Irvine market for which Orchard Hills competes now seeing prices below $350/sqft and even $300/sqft and headed toward below $250/sqft I don't see how the pricing of Orchard Hills be sustained at their peak bubble levels. Though TIC has postponed the opening of Orchard Hills until the fall of 2011 I don't think prices will recuperate to justify the asking prices (in real dollar terms).
 
[quote author="garfangle" date=1216103506]I recall last year when TIC sent out literature about the Orchard Hills community it projected the homes would start at $1+ million for 2500 sqft and greater. That works out to be about $400/sqft. With much of the upper end Irvine market for which Orchard Hills competes now seeing prices below $350/sqft and even $300/sqft and headed toward below $250/sqft I don't see how the pricing of Orchard Hills be sustained at their peak bubble levels. Though TIC has postponed the opening of Orchard Hills until the fall of 2011 I don't think prices will recuperate to justify the asking prices (in real dollar terms).</blockquote>


I think you are wrong about the price per sf prices the market is seeing now... Recent average selling prices in Quail Hill have been $390-400, same as in Northwood Pointe. Northpark has been selling at $350-360 per sf. Turtle Ridge over $500 per sf still and Turtle Rock over $400 per sf still. I don't see the "upper end Irvine market for which Orchard Hills competes now seeing prices below $350/sqft" unless you are considering this upper end to be old Northwood or Columbus Grove.
 
[quote author="ipoplaya" date=1216105027]



I think you are wrong about the price per sf prices the market is seeing now... Recent average selling prices in Quail Hill have been $390-400, same as in Northwood Pointe. Northpark has been selling at $350-360 per sf. Turtle Ridge over $500 per sf still and Turtle Rock over $400 per sf still. I don't see the "upper end Irvine market for which Orchard Hills competes now seeing prices below $350/sqft" unless you are considering this upper end to be old Northwood or Columbus Grove.</blockquote>


Don't forget the turtle ridge place that closed for $750 a square foot you have up on your site. :-)
 
[quote author="ipoplaya" date=1216105027][quote author="garfangle" date=1216103506]I recall last year when TIC sent out literature about the Orchard Hills community it projected the homes would start at $1+ million for 2500 sqft and greater. That works out to be about $400/sqft. With much of the upper end Irvine market for which Orchard Hills competes now seeing prices below $350/sqft and even $300/sqft and headed toward below $250/sqft I don't see how the pricing of Orchard Hills be sustained at their peak bubble levels. Though TIC has postponed the opening of Orchard Hills until the fall of 2011 I don't think prices will recuperate to justify the asking prices (in real dollar terms).</blockquote>


I think you are wrong about the price per sf prices the market is seeing now... Recent average selling prices in Quail Hill have been $390-400, same as in Northwood Pointe. Northpark has been selling at $350-360 per sf. Turtle Ridge over $500 per sf still and Turtle Rock over $400 per sf still. I don't see the "upper end Irvine market for which Orchard Hills competes now seeing prices below $350/sqft" unless you are considering this upper end to be old Northwood or Columbus Grove.</blockquote>


People will pay high to be in an exclusive community. Irvinites are constantly competing for status in materialism so the address of Orchard Hills would be ideal for the maturing families (as toddlers become teenagers) who will be moving out of NP, WI, and Northwood for a bigger home.



Ipo may be interested in OH.
 
[quote author="bkshopr" date=1216108903][quote author="ipoplaya" date=1216105027][quote author="garfangle" date=1216103506]I recall last year when TIC sent out literature about the Orchard Hills community it projected the homes would start at $1+ million for 2500 sqft and greater. That works out to be about $400/sqft. With much of the upper end Irvine market for which Orchard Hills competes now seeing prices below $350/sqft and even $300/sqft and headed toward below $250/sqft I don't see how the pricing of Orchard Hills be sustained at their peak bubble levels. Though TIC has postponed the opening of Orchard Hills until the fall of 2011 I don't think prices will recuperate to justify the asking prices (in real dollar terms).</blockquote>


I think you are wrong about the price per sf prices the market is seeing now... Recent average selling prices in Quail Hill have been $390-400, same as in Northwood Pointe. Northpark has been selling at $350-360 per sf. Turtle Ridge over $500 per sf still and Turtle Rock over $400 per sf still. I don't see the "upper end Irvine market for which Orchard Hills competes now seeing prices below $350/sqft" unless you are considering this upper end to be old Northwood or Columbus Grove.</blockquote>


People will pay high to be in an exclusive community. Irvinites are constantly competing for status in materialism so the address of Orchard Hills would be ideal for the maturing families (as toddlers become teenagers) who will be moving out of NP, WI, and Northwood for a bigger home.



Ipo may be interested in OH.</blockquote>


Except I hate big mello roos. My hope is that OH comes online and that sends NP and NW Pointe further down the exclusive cache list so prices there get more reasonable... If per sf prices in NW Pointe got down into the low $300s, I'd be a happy buyer.
 
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