Orchard Hills Update Website

NEW -> Contingent Buyer Assistance Program
Waiting - According the Orchard Hills website, there should be only 3 homes per acre. Now whether that is 3 homes per acre of all land in OH vs. 3 homes per acre of all land to be used for residential use is the big question.





OCR - Yes, half of OH will be in Tustin USD.





For those that are interested, run a Google search for "Irvine 'Planning Area' 1 OR 2" and that will bring up OH info, including some fun old Irvine World News article about the schools.
 
I got a mailing today from Orchard Hills:





Open mid-2008





The first few home sites will be comprised of detached homes ranging from 2,700 - 5,000 square feet.





They also sent a return-mailer with a request for the "price range" I was interested in- The BOTTOM range was $1,250,000-$1,499,000. And so on up to $2,500,000





While Orchard Hills certainly looks like it is going to be a nice area, it doesn't seem like "waiting" for these homes will do much good unless you are ready to pay $1,000,000+++
 
<p>After having been away from this forum for a while patiently "waiting" for Orchard Hills, I logged on tonight to share the exact same reaction to the Orchard Hills mailing that Blue Fire already expressed. My favorite quote from the letter:</p>

<p>"....this historic and authentic setting will offer a lifestyle reminiscent of classic California communities like Rancho Santa Fe, Bel Air, and Montecito."</p>

<p>Clearly, I think this answers a lot of the questions we have had about how TIC could be considering marching forward with Orchard Hills in the face of the current issues with sales in Portola, Woodbury, etc. Obviously they are trying to position Orchard Hills in a completely different market space than the other northern sphere communities --- Orchard is for the elite, not us young families who are looking for something in the $700-$800K range. Very frustrating. I guess those of us with "normal" incomes are all supposed to stay down in the flatlands in those kid friendly concrete communities like Decada and Bougainvillea and Bowen Court. Someone else posted out here that those so-called detached homes were like living in the projects, with kids having to play in the motor court and so forth. I could not agree more. I'm thinking its time to start considering other options than Irvine if I want to achieve that goal of finding a newer, but truly "single family" home in my price range....</p>
 
<p>Mino2126 - good WWII reference. But in reality, it seems like TIC is the side with the "seige" mentality.</p>

<p>I will for one, admit that I am a bit depressed by the opening volley of propaganda from TIC about the pricing range... I had been hopeful of a 750K - 1.5 range. Looks like I'll have to put another pin in my inerest rate voodoo doll... and maybe a match under my TIC voodoo doll.</p>

<p>Anyway to scan in portions of the flyer? I'd love to see it...</p>
 
I'm working on a scan, but am not sure how to add it.





Mino - your thought was equal to mine. They are using these cards as a self-fulfilling prophecy. If you want the OH info, you have to check a box. TIC will then take the stats from the cards and show them to the builders. The builders will then price the homes accordingly. I'm tempted to write in my own comments that since Liar Loans and subprime are no longer available, they should price their homes more realistically. For a $1.5M home with 20% down, a 30 yr fixed at 6% plus HOA and Mello-Roos, you could be paying 10K per month for housing. Seriously, if I had that kind of cash, I'd move to Newport where I could get a cool breeze rather than a high fire risk.
 
<p>I got the card and share the disappointment in their apparent strategy of aiming only for high-end.</p>

<p>Having said that, I'm doubtful the market will be in a position in 2008 to absorb signfiicant inventory at those prices, but you never know.</p>

<p>SCHB</p>
 
<p>Hey there! First post for me... </p>

<p> </p>

<p>I've been following along with this blog for some time now... and also had high hopes for Orchard... and as many of you, I too was hoping for a single family home in the $700,00-$900,000 price range - detached. Sold my home last May, and I've been renting ever since.</p>

<p> </p>

<p>Am I crazy here?! Come on builders... is it too much to ask for a nice Single Family Home, Detached, with AN ACTUAL DRIVEWAY, AN ACTUAL BACKYARD, and no common wall? I was also hoping that Standard Pacific may be one of the builders... does anyone know? I sent an email to TIC - they promise a response to all emails (It's been a week -still no reply).</p>

<p> </p>
 
<em>Looks like some bonds for OH are slated to be issued next month (May). For some very interesting information, follow this link and do a search for Orchard Hills. </em>





<em class="yschurl">www.ci.irvine.ca.us/civica/<wbr></wbr>filebank/blobdload.asp?BlobID=8884





Apparently, they will be adjustable rate bonds: </em><em class="yschurl">www.ci.<strong>irvine</strong>.ca.us/civica/<wbr></wbr>filebank/blobdload.asp?BlobID=7889 (look for "05-21")





This (</em><em class="yschurl">www.ci.<strong>irvine</strong>.ca.us/civica/<wbr></wbr>filebank/blobdload.asp?BlobID=7240</em>)<em> is also very interesting - be sure to click the links.</em>
 
<p>ELS,</p>

<p>Thank you for providing bonds information on OH's. I would like to understand how bad Mello-Roos Assessments going to get for OH's. I am thinking out loud that it can not as bad as PS's since the was a general drop in land value. What do you think?</p>

<p>I can totally understand the reasons TIC making OH high-end homes. TIC is just responsding to the demands. I believe there are many buyers in the $2M+ market for North Irvine area. Also, large lot homes in North Irvine are virtually rare and are extremely desirable. Just look at the great response for homes in the La Cima tract where the avg. lot size is 1/3 acre. Emerson in Tustin Ranch too.</p>

<p>In addition, I am glad to see that OH's is not just another ultra-high densisity neighborhood such as WB's for the sake of Irvine reputation.</p>

<p>I expect homes in OH's to be ultra expensives and will be selling extremely well regardless of the market condition. And that investors and RE agents will buy them up for purpose of flipping. My $.02 opinion.</p>
 
<em>" And that investors and RE agents will buy them up for purpose of flipping."</em>





I think that party will be over by the time sales begin.
 
<p>IR,</p>

<p>If what you say will happen then perhaps I can afford to buy in OH's. I am not banking on it though; as TIC is rarely off with their extensive marketing research.</p>
 
<p><em>"as TIC is rarely off with their extensive marketing research."</em></p>

<p>While I'll admit they take it seriously, I bet their market reserach told them they'd have Portola Spring 1/3 to 1/2 sold by now, with 3-4 price increases in place on most or all properties. Instead, most prices have dropped $100k or more from the first phase release and sales are still at a virtual standstill.</p>

<p>If their assumptions for OH were solidified in 2005 & 2006, I think the market will have some surprises in store for them.</p>

<p>SCHB</p>
 
<p>socal,</p>

<p>IMO, PS has 2 negative things going for them, market down turn and poor location. I only see market down turn, which is widely known, going for OH's. Desireablity factor for OH's is quite high!</p>

<p>I am quite sure TIC knew to bet on the good market, which got killed all the sudden by the subprime melt-down. No one can predict when adversities occur.</p>
 
<p>"Rumors had it that $1.2M is the starting price. They probably will put these $1.2M homes along the toll road."</p>

<p>FWIW, when I returned the postcard to TIC, I wrote on it that I was interested in OH, but not at the prices listed. I figured that was the best way for them to not be able to use my card to "force" the builders into pricing at $1.2M. I'd suggest that others do the same.</p>
 
EvaLSeraphin -- not going to happen. Developers know there's a lot of pent-up demand for larger houses in that price range. Check out the Belle Cliff development in San Juan, which has sold 36 of 40 homes offered so far this year, all in the $1 mil to $1.5 mil price range -- not only is it selling briskly, but the builder has raised prices by $20k each phase. What housing crash?
 
marty mcfly,





In another thread, you claimed not to be a housing bull.





<em>"Disclaimer: I am not a "housing bull." Please don't yell at me."





"the housing bears all know with a certainty that prices are coming down, which I find disingenuous..."





</em>If housing bears are disengenuous, what do we make of this?


<em>


"EvaLSeraphin -- not going to happen."





"What housing crash?</em><em>"</em>
 
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