They're going to sell at whatever crazy asking price WL offers for each phase with many disappointed potential buyers on the waiting list. It's shark week and we're watching a feeding frenzy. I think people that are on waiting list and unable to buy will look back years later and thank The Lord that they didn't buy during the insane period of early 2013.irvinehomeowner said:
The Branches - New homes in Woodbridge (Alderwood) by William Lyon
- Thread starter irviniteeee
- Start date
NEW -> Contingent Buyer Assistance Program
Yes but
1) Spring is the traditional buying season for real estate. There is no re-sale to speak of so new homes are the only way to go
2) Interest rates are still ultra low but there is some sense that they will start going up
3) The economy have improved to the point where lending is better and people don't feel like they have to save every penny.
4) Some influence from oversea buyers but I feel like that's probably somewhat overblown.
There is only 1 HOA at The Branches.
I think it will be interesting to see how these models compare to the models at Willow Bend when that opens. I already like those floorplans better with the slight tweaks they made. I don't think Resmark is involved on the Willow Bend project.
So does The Branches have disclosures?
Most likely the China man
Not sure what phase they're in, as I wasn't really paying attention. Based on my quick glace at the site map, it looked like around a third? of the homes were "sold". The sales lady did mention more than once about the "no mello roos". I gotta give them credit for not saddling new buyers with $7k annual mello roos. I estimate that to equate to $100k in the price of the house. Of course, much of the infrastructure already existed (as part of the old school) at that location to begin with, so it would have been tough for them to justify and explain costly mello roos.
It's like TIC charges you $10 because it cost them $5 and you have to pay $2 extra for MRs ($12 total). But Lyon charges you $12 even though it still costs them only $5 because they assume you would pay the $2 extra anyways.
BunkMoreland
New member
What I don't get is why the market has gotten so crazy in the past few months? Inventories were low six months ago as well, weren't they?
The Motor Court Company
Well-known member
Irvine homes are dirt cheap compared to HK and Vancouver. Buy now or priced out by Chinese immigrants forever!
Irvinecommuter
New member
BunkMoreland said:
Yes but
1) Spring is the traditional buying season for real estate. There is no re-sale to speak of so new homes are the only way to go
2) Interest rates are still ultra low but there is some sense that they will start going up
3) The economy have improved to the point where lending is better and people don't feel like they have to save every penny.
4) Some influence from oversea buyers but I feel like that's probably somewhat overblown.
irvinehomeowner
Well-known member
Plus election is done... people usually wait to see who becomes president before they make big moves financially.
furioussugar
New member
irvinehomeowner said:
There is only 1 HOA at The Branches.
furioussugar
New member
There were 6 lots released in phase 1a- 3 were in the middle. The largest lot was 4200 sqft- a bit less actually because you cannot use all of it due to the zero lot line easement.ps9 said:
furioussugar
New member
qwerty said:
I think it will be interesting to see how these models compare to the models at Willow Bend when that opens. I already like those floorplans better with the slight tweaks they made. I don't think Resmark is involved on the Willow Bend project.
Willow Bend isn't sitting over a toxic plume like The Branches is.
Contamination at NC Marine base lasted up to 60 years
http://vitals.nbcnews.com/_news/201...ation-at-nc-marine-base-lasted-up-to-60-years
Contamination at NC Marine base lasted up to 60 years
http://vitals.nbcnews.com/_news/201...ation-at-nc-marine-base-lasted-up-to-60-years
irvinehomeowner
Well-known member
Finally.test said:
So does The Branches have disclosures?
Irvine_Dreamer
New member
Granted it has no MR, but over 1M for these small homes on top of toxic plume is crazy.
Finally got around to checking out the Branches (just out of curiosity - no intention of buying there). Always having lived in homes with a separate living room and formal dining room, it's amazing how spacious the newer floorplans feel by eliminating living and formal dining rooms. Latest price sheet as of early June.
1: $1.055M
2: $1.155M
3: $1.22M
Add a minimum of $50k for additional upgrades and $30k for hard/landscaping the tiny yard, and you're up to $1.3M for Plan 3 @ 2557 sq ft. That's $508/sq ft! Who's buying these things?
1: $1.055M
2: $1.155M
3: $1.22M
Add a minimum of $50k for additional upgrades and $30k for hard/landscaping the tiny yard, and you're up to $1.3M for Plan 3 @ 2557 sq ft. That's $508/sq ft! Who's buying these things?
jamboreedude
New member
hrcp said:
Most likely the China man
irvinehomeowner
Well-known member
Did you see what phase they were in?
Even at $900k these things are a rip... at $1mil+... no wonder Lyon can go public again.
Even at $900k these things are a rip... at $1mil+... no wonder Lyon can go public again.
irvinehomeowner said:
Not sure what phase they're in, as I wasn't really paying attention. Based on my quick glace at the site map, it looked like around a third? of the homes were "sold". The sales lady did mention more than once about the "no mello roos". I gotta give them credit for not saddling new buyers with $7k annual mello roos. I estimate that to equate to $100k in the price of the house. Of course, much of the infrastructure already existed (as part of the old school) at that location to begin with, so it would have been tough for them to justify and explain costly mello roos.
That would depend on the inflation/wage increase rates. $100k to $150k would be more fair based on the present value of future mello roos payments at between 2.5% and 5% discount rate. Diminishing purchasing power. $1 will not equal the same in 20 years from today.
I think Mello Roos in CV and SG is around $3,600 so it would be $50k to $75k premium.
I think Mello Roos in CV and SG is around $3,600 so it would be $50k to $75k premium.
irvinehomeowner
Well-known member
So people should have moved into The Branches (and Willowbend) by now.
How is it?
How is it?
irvinehomeowner
Well-known member
Except there is no additional cost. What they are doing is adding more profit.No Quarter said:
It's like TIC charges you $10 because it cost them $5 and you have to pay $2 extra for MRs ($12 total). But Lyon charges you $12 even though it still costs them only $5 because they assume you would pay the $2 extra anyways.
This is more to the point. They are charging you more because some people will pay it... but it's not really "fair" because they are not bearing any additional cost for infrastructure. They are actually benefiting because the neighborhood is built out, is centrally located, and has a built-in reputation. It's like an invisible MR that you will be taxed on every year and will never go away (although some MRs are like that now from what I hear).