Padova at OH

[irvresident]

It seems like there's not much interest in Padova.  I understand it's backing the toll road, so people may be concerned with the noise/dust/pollution.  Just curious if there's any other reason for the lack of interest?  The price seems to be very reasonable.  Their largest 4X plan (3474 sqft) is priced at $1,370,000 without lot premium ($1,430,000 and $1,410,000 with lot premiums for the 3 released 4X lots), which is less than $400/sqft.  Is Padova such a bad product?  I'm asking because we are thinking about making a purchase, but wondering if we missed any key negative factor(s) that we should be considering.

 

[gld2]

I stopped by this weekend.  I was interested in the house, after seeing the site,  I changed my mind.  The location is very close to the toll road. 

 

[ak]

It seems like there's not much interest in Padova.  I understand it's backing the toll road, so people may be concerned with the noise/dust/pollution.  Just curious if there's any other reason for the lack of interest?  The price seems to be very reasonable.  Their largest 4X plan (3474 sqft) is priced at $1,370,000 without lot premium ($1,430,000 and $1,410,000 with lot premiums for the 3 released 4X lots), which is less than $400/sqft.  Is Padova such a bad product?  I'm asking because we are thinking about making a purchase, but wondering if we missed any key negative factor(s) that we should be considering.

Probably due to lack of actual model homes to tour.  not many people would want to pluck down that kind of $$ without having to walk the actual models. 

 

[search1]

It seems like there's not much interest in Padova.  I understand it's backing the toll road, so people may be concerned with the noise/dust/pollution.  Just curious if there's any other reason for the lack of interest?  The price seems to be very reasonable.  Their largest 4X plan (3474 sqft) is priced at $1,370,000 without lot premium ($1,430,000 and $1,410,000 with lot premiums for the 3 released 4X lots), which is less than $400/sqft.  Is Padova such a bad product?  I'm asking because we are thinking about making a purchase, but wondering if we missed any key negative factor(s) that we should be considering.

We are also on the list for Padova but are waiting for a later phase release. Our biggest concern was noise from the toll road, so we are not considering the first row of homes on Royal Pine that back directly to the toll road. These homes are about the same distance to the toll road as the outermost homes at Vicenza and Varenna, and when we drove through these communities it was clear that they were absorbing most of the noise from passing cars. We like the price point and cul de sacs and the lots are large for Irvine new construction.

 

[lovingit]

When is the debut?

 

[WTTCHMN]

When is the debut?

August 26

 

[DrTravel]

Stopped by after the grand opening free stuff event. More relaxed - noticed about 75% of those visiting were Caucasians with the balance Asian - the opposite of what I normally find.

 

[WTTCHMN]

Stopped by after the grand opening free stuff event. More relaxed - noticed about 75% of those visiting were Caucasians with the balance Asian - the opposite of what I normally find.

Maybe it was because of the giant American flag in front of the sales office.

 

[lovingit]

Plan 4 was nice.  Shea Homes' floorplans are a lot more functional than TayMo's floorplans.  They aren't sure if they will get the land above the cul-de-sacs (Derby and Rockinghorse street) so right now, it is only 36 homes in 8 phases.  I actually think the map is wrong.  Isn't Hideaway park the one next to the Varenna model homes, not above lot 121 and 122?

 

[jyeh74]

On the information sheet, it says that the base property tax is less than 1%.  I thought Irvine property tax were always 1% then plus your melloroos?

 

[lnc]

Plan 4 was nice.  Shea Homes' floorplans are a lot more functional than TayMo's floorplans.  They aren't sure if they will get the land above the cul-de-sacs (Derby and Rockinghorse street) so right now, it is only 36 homes in 8 phases.  I actually think the map is wrong.  Isn't Hideaway park the one next to the Varenna model homes, not above lot 121 and 122?

You are right about the map is not correct.  That's not the park, its a water retention basin.

 

[jyeh74]

These homes were nice. 4 bed plus a useable office downstairs in model 4 plus a useable sized loft that can be converted to a fifth bedroom.  Priced under $1.5m is not bad.  But a little close to the toll, even in the lasted phases on the plot of land after phase 8. Not sure if that's good resale value.  But I will say, better floor plan than both Capella, Strada and Varenna by far.

 

[Jcl725]

My friend is seriously considering Padova and wants me to take a look as well.  We're looking for guard-gated community so we're comparing the Groves with Altair, Northwood Point, OH, Northpark, etc.  We're excluding communities like Turtle Ridge, Hidden Canyon, Laguna Altara, etc. for price/location.  Plan is to live here for ~5 years...could be longer of shorter of course.

For similarly sized homes (2800-3500 sq ft), Padova is ~$430, Altair (Celestial, Starlight, Eclipse) is asking ~$470 per sqft, and Northwood Point has been selling for ~$485 per sqft on average.  All three would need about $100k IMO after purchase (upgrades and landscape for new homes, and renovations for old homes) so that's a wash. 

My main concerns with Padova are the same as the ones that have been pointed out - TUSD and close to toll-road.  How much of a "discount" relative to the nearby guard-gated IUSD communities do you think would justify a purchase at Padova?  In other words, would Padova be worth the 10-15% discount?  There are obviously pros/cons of each community - e.g. high MR of Altair, older floor plans of NW Point, OH fire hazard :0 - but if all of these are a wash, how much of a factor on price should school district, and promixity to toll-road make?

 

[Irvine Dream]

0 - but if all of these are a wash, how much of a factor on price should school district, and promixity to toll-road make?

Based on my observations and precise calculations as a person looking to buy a house in Irvine for multiple years, the TUSD will need a 8.25% reduction and the toll road needs 14.125% reduction.

Kidding aside, the point is no one can predict current or future markets accurately.  If you have the money, the safe bet is IUSD and away from the Toll Road.  If budget is tight, choose the house that you are happy to live in and let the rest fall in place.

 

[misme]

are  you looking for true guard gated or just gated? Northwood pointe has unmanned automatic gates. They don't do jack when it comes to stopping crime. Very few true guard manned gated communities in Irvine. Northpark. Groves at OH , Reserves at OH. Is Altair going to be manned by guards as well. or just automatic gates? I think Lambert Ranch has guards, not sure. Turtle Ridge, Shady, etc, but as you've said, those are off the list due to price.

This has been talked about ad nauseum, but TUSD schools serving portions of Irvine are similarly good to IUSD. And more diverse, less cut throat. Seems to be a plus in my mind, not a detriment.  Of course, I know lots of people who send their kids private to avoid the IUSD over-competitiveness, but still live in Irvine...interestingly, many of these are americanized asians looking to avoid the excessive homogeneity of the Irvine public schools...go figure.

 

[Jcl725]

0 - but if all of these are a wash, how much of a factor on price should school district, and promixity to toll-road make?

Based on my observations and precise calculations as a person looking to buy a house in Irvine for multiple years, the TUSD will need a 8.25% reduction and the toll road needs 14.125% reduction.

Kidding aside, the point is no one can predict current or future markets accurately.  If you have the money, the safe bet is IUSD and away from the Toll Road.  If budget is tight, choose the house that you are happy to live in and let the rest fall in place.

Haha, this made me chuckle a little bit. ;D  A friend does advanced analytics for a living.  Maybe I'll have him run some numbers.

 

[Jcl725]

are  you looking for true guard gated or just gated? Northwood pointe has unmanned automatic gates. They don't do jack when it comes to stopping crime. Very few true guard manned gated communities in Irvine. Northpark. Groves at OH , Reserves at OH. Is Altair going to be manned by guards as well. or just automatic gates? I think Lambert Ranch has guards, not sure. Turtle Ridge, Shady, etc, but as you've said, those are off the list due to price.

This has been talked about ad nauseum, but TUSD schools serving portions of Irvine are similarly good to IUSD. And more diverse, less cut throat. Seems to be a plus in my mind, not a detriment.  Of course, I know lots of people who send their kids private to avoid the IUSD over-competitiveness, but still live in Irvine...interestingly, many of these are americanized asians looking to avoid the excessive homogeneity of the Irvine public schools...go figure.

Looking for guard gated.  The Trailwood community in NW Point is guard gated.  Was there last weekend and they were pretty strict (took down last digits of my VIN since I didn't have plates), unlike some of communities in Tustin I've been to recently.

Fair point on TUSD.  We are actually okay with either school district.  We have two young ones, and one is ahead of the curve (may benefit from TUSD early gate/magnet programs assuming he gets in ??), and one is probably going to be your average student (benefit from IUSD slightly higher rated schools ??).  Either way, I think both will be fine in either district so looking at it more from a value perspective.

 

[Maserson]

Are there any neighborhoods fully guard gated?  Some have two gates, one manned and the other with an automated gate.

 

[WTTCHMN]

Are there any neighborhoods fully guard gated?  Some have two gates, one manned and the other with an automated gate.

Shady, HC and both Groves (the trailer park and the one in OH).

But even the gated communities in Irvine must still allow unfettered access to pedestrians/bicyclists.

 

[Jcl725]

I believe Turtle Ridge, Trailwood, Northpark, and Laguna Altara are also guard gated at all entrances.  Whereas Altair, Lambert Ranch, and Turtle Rock Summit have a mix of guard gated and non-guard gated entrances.

Please correct me if I'm wrong.