Spring 2014 Pricing - Best Guess on the Resale Market?

[nosuchreality]

Totally evident by their refusal to have IPac build anything over in Portola Springs.  They rather sell the land there to outside builders b/c they know they can't charge the ridiculous premiums they're charging in the rest of their villages and have to sit on carrying costs since developments there tend to sell much more slowly.

I'm thankful for that. Portola Springs has much more variety than the developments with only one builder.

variety?  isn't it all the same stucco BS?  in my opinion, it's really the varying elevation and the curved, non-grid like streets that give PS that "variety" I think you're referring to - not so much the builders because they all have to follow the guidelines set forth by TIC.

You obviously lack and appreciation for the importance and an Elevation "C" with a Southeast facing door and an address summing to a 8.

 

[paperboyNC]

Totally evident by their refusal to have IPac build anything over in Portola Springs.  They rather sell the land there to outside builders b/c they know they can't charge the ridiculous premiums they're charging in the rest of their villages and have to sit on carrying costs since developments there tend to sell much more slowly.

I'm thankful for that. Portola Springs has much more variety than the developments with only one builder.

variety?  isn't it all the same stucco BS?  in my opinion, it's really the varying elevation and the curved, non-grid like streets that give PS that "variety" I think you're referring to - not so much the builders because they all have to follow the guidelines set forth by TIC.

I'm talking about a variety of floor plans.

 

[bones]

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[paperboyNC]

I'm talking about a variety of floor plans.

Examples of how it's a better and/or different variety than other villages?  To me, it's the same attached condo, detached condo, courtyard, motor court, SFR stuff.  IMO, their SFR floor plans are executed poorly. Taymo (las colinas) was trying to sell a 3 br SFR that flopped so badly they had to go back to the drawing board for later phases. Brookfield (Paloma) had a 2 bedroom attached plan that also flopped so badly it too had to go back to design and add a 2nd floor 3rd bedroom. I don't even want to talk about the stuff in the other enclave bc that stuff is even worse.  Variety doesn't necessarily mean good.

Agreed. Variety doesn't necessarily mean good. At least it gives consumers choices and the ability to vote with their wallets. It also allows them to choose the builder that is offering the best bang for their buck over the builder that is offering a poor product. A neighborhood like Stonegate that is all TIC doesn't allow a consumer to pit one Stonegate builder against another in any way. TIC has less incentive to offer great customer service when they are the only game in town.

 

[bones]

[q.

 

[paperboyNC]

Stonegate is prob the only example that fits what you are talking about remotely close in size to PS. Two things though: 1. SG has outside builders. Tripointe and Shea are building. 2. SG isn't done yet. There's more tracts to be built. Builders and floor plans TBD.

I still think that choices are good and I'd rather have 10-15 builders to choose from than 3. I know you don't like some of the PS products, but the great thing is that you were free to choose something else that you did like.

 

[bones]

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[irvinehomeowner]

@bones:

It could be that for that particular plot of land, TIC has a different set of rules of engagement or that land has already been negotiated so TIC can't be the builder for the remaining areas of PS.

Or maybe TIC wants to stay in a certain market segment and prefers to leave ultra high end and certain low end to other builders.

 

[bones]

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[irvinehomeowner]

1. Portola Springs was planned before TIC restarted their building arm and maybe they stuck to it. For Woodbury, because of the downturn, maybe due to the location, they figured they could try the builder route and figure out what works and what doesn't.

2. Again, maybe they learned from Woodbury, Stonegate, CV and LA, and decided on what products to focus on and which ones to allow other builders to do.

But I do think that TIC is keeping the more "prime" areas for themselves.

 

[bones]

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[OpenSky]

 

[Chairman]

Funny thing in the market is that jumbo loans have lower interest rates than conforming loans right now!

 

[jyeh74]

I'm waiting on north wood 3.  anyone know if its IPAC building single family residences there?

 

[iacrenter]

I'm waiting on north wood 3.  anyone know if its IPAC building single family residences there?

Are you talking about planning area 5B/Northwood Paseo? If so, then yes.
http://www.talkirvine.com/index.php/topic,3654.0.html

 

[jyeh74]

Yes, the area near Jeffrey and Irvine that is developing.  Is that going to be all IPAC?  I hate IPAC recycled floorplans.

 

[OpenSky]

 

[irvinehusky]

So, for those actively looking in the resale market, what are you seeing?  A little more time to look at different houses, without having multiple bids on them in a couple of days?  Or, not much better, yet?

 

[yaliu07]

I think it depends alot on seller.  If seller can price correctly, they can still sell the house in this market.

I saw 2 open houses around thansgiving weekend.
http://www.redfin.com/CA/Irvine/14-Wheeler-92620/home/4783145
I think this price is reasonable and the listing agent told me there are 5 offers at the asking price.  It is sold within a week.
http://www.redfin.com/CA/Irvine/4-Urbino-92620/home/4788217http://www.zillow.com/homedetails/4-Urbino-Irvine-CA-92620/25519142_zpid/
I think this price is a little expensive.  the listing agent does not agree with me and now is delisted. 

 

[OpenSky]