Orchard Hills - Strada by Irvine Pacific
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NEW -> Contingent Buyer Assistance Program
Per Bonnie from the sales office, they sold a residence 3 today for $1,189,000. I'm not sure how much the plan 1 or 2's are since we want a residence 3. We are hoping to get the 3X for the next phase but heard there's a waiting list : /
Sure. The itemization on the purchase agreement doesn't break-down the difference between the premium related to the location of the lot, and the size of the lot. It's just identified as "Premium." The additional cost for elevation is itemized separately. The "Premium" for our lot is $27K. Now that we've signed the contract, I'll admit, that I would've paid more than that for the lot.
If the 30-year jumbo mortgage rate remains near 4%, then your forecast could be conservative. If it hits 5% by late 2015, then we might see stable pricing and big incentives at Strada.
And those just off the boat won't have a payment since they'll be using cash money.
Whoa. So, Lot 125 is a Plan 3 at the end of a short cul-de-sac and is 6,693 sq ft. Because of its position, views out of every window will include other houses (no direct views of the surrounding hills or greenery). The lot is odd-shaped too. I'd immediately plant tall trees around the perimeter to provide some privacy from the five or six other neighbors' houses surrounding the lot.
Phase 16 includes a 2X and 3X, both with very large lots. What's attractive about the Xs? In the 3X, you get that extra space off of the laundry room, but that's it. The Xs place your front door on a street, and many of the Xs are on major thoroughfares. For instance, Lot 9 in Phase 16 is a 3X and is at the very beginning of Horseshoe; so everyone who lives above this lot will be passing this house.
Cool, makes sense, especially the part about limiting the number of neighboring houses. You can get a Plan 3 at the end of a cul-de-sac and achieve the same limited two adjacent neighbors.
As for speculating on pricing, I have no idea. I've learned here on Talk Irvine, that there is no norm in what people find attractive. I'm shocked that so many Strada homes sold so quickly with ~9' setbacks. Apparently a backyard isn't a priority for many people.
The lots in the upcoming releases will be closer to the entrance (increased traffic), and I think the lots are bigger to compensate for this. I think of this as more of an offset, but maybe others don't. Maybe some of the bigger lots in the next few releases will have very large premiums.
I'm here, and learning.
Having my front door facing a street, possibly busy street, isn't attractive to me.
It's also surprising to me hearing the strong opinions here on CA room vs. conservatory. I like both options and can envision what I'd do with both, but I'm apparently an outlier. My wife wants the covered outdoor area, so that's what we're choosing, but I'd be fine if she wanted the conservatory.
malteselover
New member
Called over to the Sales Office and was told that 5 homes have already been sold in Phase 14; so there are only 4 homes possibly available. She said they are going thru the priority list for the remaining homes. So 5 sold in less than 2 days of the phase release. She mentioned that phase 15 will be going just as fast especially the two 3X. She wasn't clear on the prices. Does anyone know the current prices for phase 14?
OC_medicine
New member
malteselover said:
Per Bonnie from the sales office, they sold a residence 3 today for $1,189,000. I'm not sure how much the plan 1 or 2's are since we want a residence 3. We are hoping to get the 3X for the next phase but heard there's a waiting list : /
OC_medicine
New member
Perspective
Well-known member
sky949 said:
Sure. The itemization on the purchase agreement doesn't break-down the difference between the premium related to the location of the lot, and the size of the lot. It's just identified as "Premium." The additional cost for elevation is itemized separately. The "Premium" for our lot is $27K. Now that we've signed the contract, I'll admit, that I would've paid more than that for the lot.
Perspective
Well-known member
Phase 15 appears to have some huge lots. Is anyone here waiting for one of these? It sounds like there a few people interested in Plan 3X, and there are two in the next release. I'm interested to hear how big Lot 125 is (Plan 3).
Now that we're nearly halfway through Strada build-out at Phase 14, does anyone want to speculate what the pricing will be on the final phase(s) for an average and base (non-premium) lot, assuming there are no significant changes in the economy? 
. I'm going with around $1.2m for a Plan 2 and $1.26m for a Plan 3!
. I'm going with around $1.2m for a Plan 2 and $1.26m for a Plan 3!Perspective
Well-known member
Jonah said:Now that we're nearly halfway through Strada build-out at Phase 14, does anyone want to speculate what the pricing will be on the final phase(s) for an average and base (non-premium) lot, assuming there are no significant changes in the economy?
If the 30-year jumbo mortgage rate remains near 4%, then your forecast could be conservative. If it hits 5% by late 2015, then we might see stable pricing and big incentives at Strada.
Yardmatters
New member
This is so true. Either way those who haven't jumped on the boat suffer from higher payment.Perspective said:Jonah said:Now that we're nearly halfway through Strada build-out at Phase 14, does anyone want to speculate what the pricing will be on the final phase(s) for an average and base (non-premium) lot, assuming there are no significant changes in the economy?
If the 30-year jumbo mortgage rate remains near 4%, then your forecast could be conservative. If it hits 5% by late 2015, then we might see stable pricing and big incentives at Strada.
Yardmatters
New member
Lot 125 is 6693.Perspective said:
aquabliss
Well-known member
Yardmatters said:This is so true. Either way those who haven't jumped on the boat suffer from higher payment.Perspective said:Jonah said:Now that we're nearly halfway through Strada build-out at Phase 14, does anyone want to speculate what the pricing will be on the final phase(s) for an average and base (non-premium) lot, assuming there are no significant changes in the economy?
If the 30-year jumbo mortgage rate remains near 4%, then your forecast could be conservative. If it hits 5% by late 2015, then we might see stable pricing and big incentives at Strada.
And those just off the boat won't have a payment since they'll be using cash money.
Perspective
Well-known member
Yardmatters said:
Whoa. So, Lot 125 is a Plan 3 at the end of a short cul-de-sac and is 6,693 sq ft. Because of its position, views out of every window will include other houses (no direct views of the surrounding hills or greenery). The lot is odd-shaped too. I'd immediately plant tall trees around the perimeter to provide some privacy from the five or six other neighbors' houses surrounding the lot.
Phase 14 is pretty much accounted for, with the exceptions of the Plan 1s. The two Plan 3xs in Phase 15 are highly coveted and there are multiple people on the wait list for both. Not sure if Phase 16 will have any 3x's, but at that point it may be way too expensive. Given that the base price of the Plan 3 is now about 1,190,000 (no lot or elevation premium), I wonder how much the 3x in Phase 15 will start at. Any guesses?
Perspective
Well-known member
OHills said:
Phase 16 includes a 2X and 3X, both with very large lots. What's attractive about the Xs? In the 3X, you get that extra space off of the laundry room, but that's it. The Xs place your front door on a street, and many of the Xs are on major thoroughfares. For instance, Lot 9 in Phase 16 is a 3X and is at the very beginning of Horseshoe; so everyone who lives above this lot will be passing this house.
I love the curb appeal of the Xs. The 3x has a distinct look b/c the side of the house is laid out in front, which gives it a grand appearance. The non x's look very cramped and tightly packed together with the front facing garages. With the Italian 3x, you also get the two balconies overlooking the garage, which gives the house an elegant look. Plus with the X, you typically only have two adjacent neighbors and not your normal three (some lots have more than 3!). Also, as you mentioned the storage space in the laundry area in the 3x is very practical. All in all, the Xs to me are just more visually appealing than a non x and provide a bit more privacy, hence the premium!
Perspective
Well-known member
OHills said:
Cool, makes sense, especially the part about limiting the number of neighboring houses. You can get a Plan 3 at the end of a cul-de-sac and achieve the same limited two adjacent neighbors.
As for speculating on pricing, I have no idea. I've learned here on Talk Irvine, that there is no norm in what people find attractive. I'm shocked that so many Strada homes sold so quickly with ~9' setbacks. Apparently a backyard isn't a priority for many people.
The lots in the upcoming releases will be closer to the entrance (increased traffic), and I think the lots are bigger to compensate for this. I think of this as more of an offset, but maybe others don't. Maybe some of the bigger lots in the next few releases will have very large premiums.
Perspective
Well-known member
bones said:You obviously haven't read TI long enough. It is a well known fact that the Irvine Pacific's X plans take your breath away
I'm here, and learning.
Having my front door facing a street, possibly busy street, isn't attractive to me. It's also surprising to me hearing the strong opinions here on CA room vs. conservatory. I like both options and can envision what I'd do with both, but I'm apparently an outlier. My wife wants the covered outdoor area, so that's what we're choosing, but I'd be fine if she wanted the conservatory.