Portola Springs - Decada

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zovall_IHB

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<strong>Village:</strong> <a href="http://www.irvineranch.com/villages/portolasprings/" target="_blank">Portola Springs</a>


<strong>Tract:</strong> <a target="_blank" href="http://www.calpacifichomes.com/decada.php">Decada</a> (91 single family detached condominiums) in the City of Irvine


<strong>Builder:</strong> <a target="_blank" href="http://www.calpacifichomes.com/">California Pacific Homes</a>


<strong>Schools:</strong> Irvine School District (<a href="http://www.iusd.org" target="_blank">IUSD</a>): Westwood Basics, Northwood, or El Camino Real Elementary, Sierra Vista Middle, Northwood High


<strong>Tax Rate:</strong> Base property tax rate of 1.03% and Mello Roos/Special Assessments of $442/month


<strong>HOA Dues:</strong> Sub Association $97; Master Association $175 initially and $150 at Build Out


<strong>Deposit Required:</strong> $20,000


<strong>


Plans:</strong>


Residence 1 - 3bd/2.5ba - 1437 sq. ft.


Residence 2 - 3bd/2.5ba - 1545 sq. ft.


Residence 3 - 3bd+lib/2.5ba - 1648 sq. ft.


Residence 4 - 3bd+den/2.5ba - 1750 sq. ft.





<strong><u>PRICING</u>


</strong><strong>


Phase 1? (July 29, 2006)


</strong>Residence 1 - From $691,490


Residence 2 - From $723,420


Residence 3 - From $742,325


Residence 4 - From $779,080





<strong>Phase 1 (Effective 10/06/2006)</strong>


Residence 1 - From $644,233


Residence 2 - From $678,785


Residence 3 - From $702,767


Residence 4 - From $733,646


<strong>


Phase 2A (Effective 1/13/2007)</strong>


Residence 1 - From $580,000


Residence 2 - From $602,000


Residence 3 - From $628,000


Residence 4 - From $648,000





<strong>Phase ? (Effective 2/3/2007)</strong>


Residence 1 - From $580,000


Residence 2 - From $602,000


Residence 3 - From $628,000


Residence 4 - From $648,000


<strong>


Phase ? (Effective 5/25/2007)</strong>


Residence 1 - From $582,000


Residence 2 - From $602,000


Residence 3 - From $628,000


Residence 4 - From $648,000





<strong>Phase 3A (6/9/2007)</strong>


1 plan 1, 1 plan 2, 2 plan 3s, 2 plan 4s


Residence 1 - From $582,000


Residence 2 - From $602,000


Residence 3 - From $628,000


Residence 4 - From $648,000





Move in is around Feb 2008. They didn't seem too sure of this.


<p><strong>Phase 3B (6/23/2007)</strong>


Plans 1 & 2 only for this release.</p>

<strong>Pricing on 9/30/2007</strong>


Residence 1 - From $603,000*


Residence 2 - From $625,000*


Residence 3 - From $628,000


Residence 4 - From $676,500*





* Sales price includes pre-selected options





<strong>Pricing on 11/29/2007</strong>


Residence 1 - From $580,000*


Residence 2 - From $612,808*


Residence 3 - From $622,131*


Residence 4 - From $675,510*





* Sales price includes pre-selected options





<p><strong>Pricing on 1/12/2008</strong>


</p>

<p>Residence 1- $557,871


Residence 2- $588, 808


Residence 3- $608,142


Residence 4- Temp sold out</p>

<p>All include unspecified "pre-selected options"</p>

<p><strong>Pricing as of 4/4/2008</strong>

Residence One - $544,000

Residence Two - currently sold out

Residence Three - currently sold out

Residence Four - currently sold out

<p><strong>Pricing effective 426/2008</strong>

Phase 4

Lot / Plan / Price

87 2A 562k

86 3C 582k



Furnished Models

Lot / Plan / Price

88 1D 606k

91 2B 639k

90 3C 646k

89 4A 665k
 
This is another one of California Pacific's tried and true tract plans. Mericort near Northpark and Arborel in Turtle Ridge are the prior ones that I know of.
 
<p>They have lowered the price tremendously!</p>

<p>The pricing I got last year... July 29,2006 were these:</p>

<p>Residence 1 - From $691,490


Residence 2 - From $723,420


Residence 3 - From $742,325


Residence 4 - From $779,080</p>
 
I visited Decada yesterday. They are offering "back-end" incentives ranging from $10,000 to $13,000, applicable to upgrades and/or closing costs. The catch = you have to use their lender.
 
<p>Their 13Jan2007 release was phase 2A. (the A being significant)</p>

<p>They are splitting phase 2 into (at least) an A & B, apparently to "meter out" the product and try to keep demand up...we'll see how that goes.</p>

<p>Also, their desposit is $20k. This would be a good reference below HOAs at the top of the thread.</p>

<p>SCHB</p>
 
<p>I visted both Decada and Cortile in Woodbury to check on the falling prices. I was surprised that Cortile is still expensive with their largest Plan 4 (1405sq ft) sold out on December 20 at $648,379. The much more desirable Decada Plan 4 (1750sq ft) was $668,646 with about $25K in options. Factoring in the options gives you about a street price ot about $643K. Why you want Cortile at the same price and 345 less square feet, less land, and more neighboors? Was Cortile more expensive because it was near build out while Decada is in Phase 1 or 2? I noticed significant price cuts (not as big as Decada however) at the newer Four Quartets in Woodbury as well.</p>

<p>The Decada price was obviously on a cancellation from Phase 1. I didn't ask what the price of a brand new lot was.</p>
 
My bad - I meant Bowen Court instead of Cortile. Bowen Court is another Cal Pac courtyard style detached condo in a six house cluster. Decada is a four house cluster and Cortile, CPH again, is an eight house cluster.
 
We are mildly interested in the Decada plan 4 so we took a look over the weekend.





They've sold 13 units so far and all of the plan 4s are sold out which killed our interest. They wont start building the next phase until they sell the rest of the current inventory... If they sell the current inventory. The salesperson we spoke with didn't seem too confident that the next phase would even happen? I'm not sure from how they acted. Perhaps they were playing games with us. They have plenty of the non plan 4s to sell but they aren't moving.
 
Irvine_native,





We were interested in Plan4 as well. Nothing fancy or luxurious but nice floorplan and good value for the price.





I remember the salesperson said the same thing back in Dec when they're selling phase 1 (8 units), and they ended up releasing phase 2A (6 units) in Jan after 80% of phase 1 were sold.





I am not sure if they have released phase 2B (another 6 units) ? They told me they're gonna release phase 2B shortly after 2A, and they will start phase 2 construction as soon as 50% are sold.



 
<p>Irvine_native,</p>

<p>Did you pick up a price sheet? Any drops? Did you ask about incentives? And don't worry, Plan 4 is out of my price range -- so no competition from me. Also, I have no plans to purchase for at least another 1.5 years.</p>

<p>Could you elaborate on what the rep said about not doing another phase? Thanks.</p>
 
i like plans 3 and 4. plan 1 and 2 have the living room completely separated from the other areas via the entryway. that's a little strange to me.
 
On the plan 4, does the "opt bath 3" have shower option? It'd be nice if it did, then you can convert that 1st floor den to a bedroom for grandma. That would make the house a 4/3 for $650k. That's not bad at today's prices, though I suspect it'd drop some more in the future.





You could also rent the bedrooms out at $700/each to subsidize your mortgage, hehe.






 
They have the land and infrastructure to build more phases, but haven't decided yet if they will. Even with the over $100k reduction, they aren't selling other than the plan 4. Best case scenario has them releasing another phase sometime after November. I don't think that they will reduce any further than they already have.





It is for the best that they were sold out. If they had a plan 4 available we would probably have bought it. While affordable to us, they are still overpriced in my opinion and the tax, mello roos and HOAs are killer.
 
momopi - yes I think the opt bath 3 have a shower so you can make it a "4/3" configuration if you like.





Last I checked, they were sold out on all plans from Phase 1, and sold out plan 3 and 4 from phase 2A. They also offered $10-13k incentive. So I guess somehow plan 1 and 2 aren't the popular choice.





And as Zovall mentioned above, this is a CalPac's tried and true tract plan in Irvine. Other than Mericort and Arboles, there's San Simeon in Northpark and another one in West Irvine. Decada has higher Mello roos and HOAs but it is in Portola Springs and Irvine school district.






 
<p>I went with my wife today. Plan 4 is indeed sold out for both Phases 1 and 2. We found the price of $648,000 to be very affordable for Irvine, and like others have mentioned here, anre't interested in the smaller Plans 1, 2 and 3.</p>

<p>The sales guy for Decada was pretty aloof, but told us that Phase 3 hasn't been announced yet. They're guessing it will be in the next month or two, with a move-in target date of the end of the year.</p>

<p>As a sidenote, we checked out a SFH built in 2001 somewhere by Jamboree in Irvine, and it really looked old and dumpy...price reduced from $749k to $739k. Why I'd pay $90k more for an older, uglier house when I can get a new one at Decada is beside me...I guess that's why the previously owned units aren't moving well at all.</p>

<p>Ed</p>
 
I talked to them today also. They are going to have 7-9 phases. The third phase will be in a few months and move in will be at the end of the year. This seems to me to be extremely slow. The buyers will be stuck paying the increased HOA for a very long time. In a year I have a feeling that you will be able to get a lot more home for $648,000 in Irvine . The slower they go, the more they will have to reduce. Doesn't make sense to me.
 
Phase 3 in the next month or so is not slow. Considering you guys mentioned they are having problem selling phase2 I am actually surprised that they move on with phase 3 that soon. It doesn't seeem like they're gonna lower the price anytime soon. I am guessing they will want to wait out spring and summer before making further reduction if necessary.
 
<p>Have prices changed since the 1/13/2007 price list? Just curious -- I won't be buying for at least 2 years (at a minimum) because I am persuaded (like just about everybody else that I know) that prices will drop significantly.</p>
 
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