Orchard Hills Homes

[socal78]

got an email from shevy akason who had teamed up with larry/irvinerenter. says he will be at orchard hills on saturday. he is refunding anything over 1.5% of the purchase price back to the buyer.  So on a $1M house, 1.5% would 15K, if the broker coop is 20K, the buyer gets 5K and shevy keeps 15K, that is a hell of a deal.

I would verify the info with them directly because their wording is confusing. They specifically say the buyer gets a 1.5% rebate. It's explained here: "1.5% Rebate On New Home Construction".

However, in a couple sentences it does goes on to say they are offering anything OVER 1.5% back. That doesn't really jive with the rest of the webpage including the Youtube video, though.  I don't know if it's a simple oversight or what. That's why it would be good to verify if anyone is going to compare notes.

 

[ps99472]

So who's up for some model homes this weekend?  That's 20+ true SFR models to look at!  Weather will be perfect Socal weather, around high 70s/low 80s.  Gonna be lookie loos again, and take advantage of the free food (except for Ren, avoid please).  I wonder if Settlers parking lot will be open?  Thinking of just park there and hoof it over to Saviero/Messina/Vicenza and avoid the FCB shuttle.  Strada will be on my radar as well, gonna get some juice and Zov food. 

@aquabliss:  bringing the kid to bless the event?

 

[lnc]

So who's up for some model homes this weekend?  That's 20+ true SFR models to look at!  Weather will be perfect Socal weather, around high 70s/low 80s.  Gonna be lookie loos again, and take advantage of the free food (except for Ren, avoid please).  I wonder if Settlers parking lot will be open?  Thinking of just park there and hoof it over to Saviero/Messina/Vicenza and avoid the FCB shuttle.  Strada will be on my radar as well, gonna get some juice and Zov food. 

@aquabliss:  bringing the kid to bless the event?

I was told by the sale staff that on Saturday, all sale office's guest parking will be block off.  All guest will have to park at the designated parking lot and be shuttle to the model home.  However, on Sunday, the sales office's parking lot will be open for guest to park.

Park at Settler's is a good idea but walking toward the model home are all uphills.  Hope you and your family are physically ready for some serious uphill hiking.

 

[irvinehomeowner]

I'll wait until there aren't so many suitcases of cash.

 

[usctrojancpa]

@qwerty:

Ahh... I must have missed the winky emoticon thingy.

I agree, Shevy looking for 1.5% of the sale of a new home is crazy. So what if the commission is less than 1.5%, do the buyers owe Shevy money?

That's funny because the builders have been lowering their broker co-op lower and lower.  For example, Whistler at PP used to offer $15k and now that is down to $12k.  Today, broker co-op from builders are around 1.5% of the purchase price.

To complete IR2's list here are some additional broker co-op amounts:

Entrata - $11,000 broker co-op ($600k-$700k)
Corte Bella - $13,000 broker co-op ($800k-$900k)
Strada - $16,000 broker co-op (around $1m and up)
 

 

[Arman]

From OC Register today:

 

[aquabliss]

@aquabliss:  bringing the kid to bless the event?

Ha... Nope we're sitting this one out.  I'm not a big fan of crowds.  Last big opening I went to was Baker Ranch which was crazy.

I'm sure this opening day will make BR feel like a walk in the park.

 

[aquabliss]

Wow those 3 huge glass doors alone in the Trevi model must be a $60k upgrade.

 

[jyeh74]

I thought OH was going to be mainly foreigners, the few selected who can afford these expensive homes. So far, it seems like a good mix of non FCBs in this community. We will see what happens at build out.

 

[Arman]

I thought OH was going to be mainly foreigners, the few selected who can afford these expensive homes. So far, it seems like a good mix of non FCBs in this community. We will see what happens at build out.

What's your assessment of "a good mix of non FCBs in this community" based on? Do you know who's bought? Big difference between who shows interest and who's actually bought/going to buy. I still think cash buyers (foreign or domestic) will be a huge percentage of buyers, foreign probably higher given it's Irvine. Nationwide the percentage of all-cash buyers is approx 40%. I suspect it's higher in CA and higher still in Irvine.

 

[lnc]

Southern California's all cash purchase was around 29.1%.http://www.calculatedriskblog.com/2014/02/lawler-updated-table-of-distressed.html?m=0

However, when you go up to high end home like Trevi, most likely the majority of buyer are all cash.

Usually for home that are over 1.5 million, over 50% of purchase are all cash.

 

[irvinehomeowner]

My over/under for OH FCB buyers is 70%.

 

[iacrenter]

The buyer mix will be only one color: GREEN.  8)

 

[ip]

Terrazza Residence 1 with Panoramic Glass Sliding Doors

Trevi Residence 3 on Side

Trevi Courtyard

Corte Bella

Trevi Residence 2 Balcony

Trevi Residence 3 Courtyard

Terrazza Residence 2X Upstairs Loft

Trevi Residence 2 Entry

Trevi Residence 2 Exterior

 

[ak]

10 feet ceilings????

 

[Goriot]

Nice Photos.  Went on early showings?  Making me itchy to move again.

 

[test]

10 feet ceilings????

Those look like 9'.  Thumbs down.

 

[OpenSky]

 

[Arman]

Nice Photos.  Went on early showings?  Making me itchy to move again.

Those photos are from the OCRegister website.

Yeah, because there were a whole lotta people there at the preview yesterday. No way you could get a clean shot without dozens of people in the pic.

 

[Arman]

Does anyone know how many homes OH is supposed to have at buildout? The OC Register article today says "the 1400-home Orchard Hills." I remember hearing 4000-5000ish in the past. Or is the Register article just referring to the upcoming planned release?