Ravello at OH Groves

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trematix said:
mythicquest said:
Anyone know if they?ve actually released phase 1 yet?
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also wondering the same. Want to see if people are actually paying this.
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Unfortunately, people will probably still buy them at this price. As was said earlier in this thread, the lack of availability at Cetara will probably lead some buyers to Ravello. Again, I personally would go for something else in OH at that price, but people seem to love IP no matter the price point! Lol.
 
I guess this is a bit of curiosity plus no brainer type question based on last post:

For context, I am a buyer and looking at OH, Portola Springs and GP

What is the attraction of OH Reserve in general? It's more expensive, it's in a way more fire hazardous zone, and it isn't like you can't get similar houses outside of the gated OH?

So what is it that makes people want to buy there? Resale value? Gated community? Safety?

Curious to hear others thoughts here.

 
irviniteeee said:
trematix said:
mythicquest said:
Anyone know if they?ve actually released phase 1 yet?
Click to expand...

also wondering the same. Want to see if people are actually paying this.
Click to expand...

Unfortunately, people will probably still buy them at this price. As was said earlier in this thread, the lack of availability at Cetara will probably lead some buyers to Ravello. Again, I personally would go for something else in OH at that price, but people seem to love IP no matter the price point! Lol.
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Bingo, the lack of inventory is the big issue that is driving buyers to the builders because there's just nothing on the market for them to buy and builders know this.
 
USCTrojanCPA said:
irviniteeee said:
trematix said:
mythicquest said:
Anyone know if they?ve actually released phase 1 yet?
Click to expand...

also wondering the same. Want to see if people are actually paying this.
Click to expand...

Unfortunately, people will probably still buy them at this price. As was said earlier in this thread, the lack of availability at Cetara will probably lead some buyers to Ravello. Again, I personally would go for something else in OH at that price, but people seem to love IP no matter the price point! Lol.
Click to expand...

Bingo, the lack of inventory is the big issue that is driving buyers to the builders because there's just nothing on the market for them to buy and builders know this.
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You're not wrong but it also comes to a point where it's just absurd and I think Ravello reached that point. There's no guarantee this sells well just because lack of inventory.
 
soulbro said:
I guess this is a bit of curiosity plus no brainer type question based on last post:

For context, I am a buyer and looking at OH, Portola Springs and GP

What is the attraction of OH Reserve in general? It's more expensive, it's in a way more fire hazardous zone, and it isn't like you can't get similar houses outside of the gated OH?

So what is it that makes people want to buy there? Resale value? Gated community? Safety?

Curious to hear others thoughts here.
Click to expand...

I don't live in OH reserves, and I also think Ravello is overpriced but:
OH reserves-->gated + IUSD (Northwood high) + views in some tracts.

Portola has IUSD and views in some areas, but no gate. portola is similar fire hazard zone
OH Groves has gated + views (some tracts) but TUSD, not IUSD (which some people care about)
GP houses are a completely different style, which may not appeal to certain buyers. also the taxes are really high

some people just prioritize having a gate (especially a manned guard gate). I used to think it didn't matter, but recently there's an increase in break-ins, mail theft, package theft, random outsiders driving into neighborhoods casing the joint, and having a guard gate seems like it does cut down on that.

 
misme said:
soulbro said:
I guess this is a bit of curiosity plus no brainer type question based on last post:

For context, I am a buyer and looking at OH, Portola Springs and GP

What is the attraction of OH Reserve in general? It's more expensive, it's in a way more fire hazardous zone, and it isn't like you can't get similar houses outside of the gated OH?

So what is it that makes people want to buy there? Resale value? Gated community? Safety?

Curious to hear others thoughts here.
Click to expand...

I don't live in OH reserves, and I also think Ravello is overpriced but:
OH reserves-->gated + IUSD (Northwood high) + views in some tracts.

Portola has IUSD and views in some areas, but no gate. portola is similar fire hazard zone
OH Groves has gated + views (some tracts) but TUSD, not IUSD (which some people care about)
GP houses are a completely different style, which may not appeal to certain buyers. also the taxes are really high

some people just prioritize having a gate (especially a manned guard gate). I used to think it didn't matter, but recently there's an increase in break-ins, mail theft, package theft, random outsiders driving into neighborhoods casing the joint, and having a guard gate seems like it does cut down on that.
Click to expand...


As of right now, the reserve side is not manned and gate seems to be open all day anytime I go and groves side isnt 24/7 manned security yet. OH residents told me  they were told it may take years before its fully manned gate due to completion of build out
 
trematix said:
misme said:
soulbro said:
I guess this is a bit of curiosity plus no brainer type question based on last post:

For context, I am a buyer and looking at OH, Portola Springs and GP

What is the attraction of OH Reserve in general? It's more expensive, it's in a way more fire hazardous zone, and it isn't like you can't get similar houses outside of the gated OH?

So what is it that makes people want to buy there? Resale value? Gated community? Safety?

Curious to hear others thoughts here.
Click to expand...

I don't live in OH reserves, and I also think Ravello is overpriced but:
OH reserves-->gated + IUSD (Northwood high) + views in some tracts.

Portola has IUSD and views in some areas, but no gate. portola is similar fire hazard zone
OH Groves has gated + views (some tracts) but TUSD, not IUSD (which some people care about)
GP houses are a completely different style, which may not appeal to certain buyers. also the taxes are really high

some people just prioritize having a gate (especially a manned guard gate). I used to think it didn't matter, but recently there's an increase in break-ins, mail theft, package theft, random outsiders driving into neighborhoods casing the joint, and having a guard gate seems like it does cut down on that.
Click to expand...


As of right now, the reserve side is not manned and gate seems to be open all day anytime I go and groves side isnt 24/7 manned security yet. OH residents told me  they were told it may take years before its fully manned gate due to completion of build out
Click to expand...

Groves did just recently go to 24/7 manned gate. Reserves opened later than Groves and still has more to build so I'm assuming Reserves will be manned later than the Groves.  The residents have to press for it if they want it sooner. The threat of a lawsuit can do wonders.

 
Eyespii said:
Didn?t know groves is now 24/7 manned gate. I thought the guard left at like 10p?
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nope, it's 24/7 now at the upper gate, both are manned during the day,  and the visitor gate code lane is deactivated at night at the other one, so all visitors must go through the manned one at night.
 
so reserve is not much of a gated community, i guess if down the road it will be, then that's fine.

i think it's not just ravello jacking up the prices, even for como, right now the ask is plan 2 around 1.62-1.64.

i guess it is worth it if you want to be a more private, gated/not gated community, iusd. 

 
soulbro said:
so reserve is not much of a gated community, i guess if down the road it will be, then that's fine.

i think it's not just ravello jacking up the prices, even for como, right now the ask is plan 2 around 1.62-1.64.

i guess it is worth it if you want to be a more private, gated/not gated community, iusd.
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Builders know that they will get buyers given the demand. So they will continue to increase prices. I read somewhere  on this forum that builders have a better pulse on state of market and will price accordingly. Irvine Pacific in particular will continue to hold the line with their priced since they own the land and know they can sell.
 
If you like it, best to buy in initial phases. IP prices for Fresco in EW for entry level plan 1 have increased from 1.425 M to 1.50 M between Jan of this year to now.  The folks who bought back in Jan and may not even gotten posession of their new house have earned over 100K in equity gain in 6 months. Market is crazy!!

Buying in initial phases is something I always aim for but I get deterred by the initial high price. I get on the priority list during opening but wait it out since i am unsure.  After 5-6 phases, the initial price looks like a bargain! Thats how it has been price wise since 2012 that I have been watching new builds in Irvine.
 
I completely agree early phases are best for value.  2 small items that lend itself towards later phases are sometimes there are better lots available and the builder has also replaced poor quality sub-vendors in the later phases if those items make any difference to a potential buyer.  In our development the builder instructed the framing company to fire the foreman and most of his crew.  There was a day and night difference in the framing quality with that change.  They also changed vendors for all of the hardware (door locks, hinges, etc.).
 
Definitely agree with you guys on early phases for the built in value. However, I think looking at phase price increases in the last year are not representative of a typical situation given the extreme rise in general housing prices over the past 6 months. We know that Cetara has had massive price increases in the recent phases, but how much is that is just from following the general market real estate trend?

We've also seen IPAC release several phases with nearly stagnant pricing. Early Lago and Verdi come to mind in recent history when pricing was nearly identical through several phases. Sure, they've been usually the detached condos or smaller SFRs, but my sense right now is that the priority list for Ravello is not long. If the buildout continues but the list isn't growing to match, and general real estate market pricing somewhat stabilizes/flattens, then I could also see these Ravello prices stay fairly stable through several phases too, at least early on in the release cycle.

 
I got the sense that the Priority list is not that long with Ravello as well but I also feel that IP priority list is somewhat subjective to the people working there.  I stopped by last week and had a completely different reaction from the sales associate (whom I had not dealt with before) than the prior sales associates that I had dealings with.  I believe someone mentioned that previously about IP lists as well.  I did find out there was a $55,000 increase on one of the smaller plans from the last phase to the current phase in the Reserve.  We did not get called yet and I didn?t pay super close attention to the increase on the larger versions...
 
mythicquest said:
Definitely agree with you guys on early phases for the built in value. However, I think looking at phase price increases in the last year are not representative of a typical situation given the extreme rise in general housing prices over the past 6 months. We know that Cetara has had massive price increases in the recent phases, but how much is that is just from following the general market real estate trend?

We've also seen IPAC release several phases with nearly stagnant pricing. Early Lago and Verdi come to mind in recent history when pricing was nearly identical through several phases. Sure, they've been usually the detached condos or smaller SFRs, but my sense right now is that the priority list for Ravello is not long. If the buildout continues but the list isn't growing to match, and general real estate market pricing somewhat stabilizes/flattens, then I could also see these Ravello prices stay fairly stable through several phases too, at least early on in the release cycle.
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Spoke to Ravello, phase 1 hasnt sold out yet.

 
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