The Branches - New homes in Woodbridge (Alderwood) by William Lyon

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qwerty said:
from the low $900s for a 2,200 sq ft house. seems kind of steep. i dont track woodbridge so not familiar with the pricing there so not sure if these are fair prices or not, but it does have a driveway and what appear to be decent lots.  there is no mello roos but they sure increased the price to account for the lack of mello roos.
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although i guess comparing this to say Maricopa in stonegate where 780K gets you into a plan with with about 2200-2300 sq ft, maricopa does have a MR of about 400/month which is roughly another 100K of principal which would put Maricopa at around 880K. I guess for 880K vs low 900s in woodbridge for the same size house i would go with woodbridge since the location is much better. but this kind of supports how they just increase the price for the lack of mello roos.
 
qwerty said:
from the low $900s for a 2,200 sq ft house. seems kind of steep. i dont track woodbridge so not familiar with the pricing there so not sure if these are fair prices or not, but it does have a driveway and what appear to be decent lots.  there is no mello roos but they sure increased the price to account for the lack of mello roos.
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Question will be is that low $900s like $905k or $940k...a bit of a difference if you ask me.  They'll price it higher if they see that Irvine still has few re-sale homes for sale when they open up their sales office. 
 
Seems a little high for a home outside the loop--with upgrades and landscaping, the price will be more likely mid to high $900K. For that kind of money you can get a resale property much closer to the lake and/or bigger lot:
http://www.redfin.com/CA/Irvine/25-Whispering-Wind-92614/home/4693581
http://www.redfin.com/CA/Irvine/63-Emerald-92614/home/4697578
http://www.redfin.com/CA/Irvine/18-Mandarin-92604/home/4687518
http://www.redfin.com/CA/Irvine/15-Waterside-92614/home/4693871
(my guess is this will sell for the low to mid $900K)
 
even if its $900,000 for 2209 sq ft, that still puts it at over $400/sq ft... what are they smoking.. unless you change the name to Turtle Wood... count me out..
 
qwerty said:
from the low $900s for a 2,200 sq ft house. seems kind of steep. i dont track woodbridge so not familiar with the pricing there so not sure if these are fair prices or not, but it does have a driveway and what appear to be decent lots.  there is no mello roos but they sure increased the price to account for the lack of mello roos.
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Where did you find the pricing?
If it's true, I'm out.  :'(
 
In Asia, students compete with each other trying to get into the #1 high school.  In America, you can just buy a house in Irvine, and get into the #8 ranked school in the nation.  It's almost better than paying the smart kid to take the SATs for you.
 
qwerty said:
from the low $900s for a 2,200 sq ft house. seems kind of steep. i dont track woodbridge so not familiar with the pricing there so not sure if these are fair prices or not, but it does have a driveway and what appear to be decent lots.  there is no mello roos but they sure increased the price to account for the lack of mello roos.
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Looks like the removed the pricing from their website! so we might be surprised with some high 800 pricing for 2,200 sq ft house. We can only keep hoping:D
 
High $800k is still too high for a 2200ft Woodbridge home.

Mid $700ks are more reasonable but I doubt Lyon would do that (look at Las Ventanas as a benchmark and then add the location premium).

And no... there shouldn't be a build-in price premium for Mello Roos because I doubt Lyon has any of those associated costs.
 
IHO - If they use plan3 of las ventanas as the baseline since the smallest lyon plan is similar size, this is how they will price it out. LV plan is about 710k plus the capitalized equivalent of 5000 annual mello Roos, which is about 100k, so now lyon is at about 810k in base price and then just like u said, tack on the location premium, say 50k, now u are at 860k for the 2,200 sq ft.  They dont have that infrastructure cost but they look at what the total cash outflow is for a LV plan 3 and price accordingly.
 
I don't understand how they can capitalize Mello Roos when that cost does not exist.

So basically... take the cash flow of a place that has Mello Roos and absorb it as your profit? That makes me want to buy from Lyon less.
 
irvinehomeowner said:
So basically... take the cash flow of a place that has Mello Roos and absorb it as your profit?
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Exactly.  From the buyers side, the only cash flow difference is related to the location premium, so Lyon must believe they will get people to pay for the location premium over Las Ventanas. 
 
if they excluded the 100K equivalent of the 5,000K mello roos this development would sell pretty fast because of its location, but i doubt they would ever do that.
 
irvinehomeowner said:
I don't understand how they can capitalize Mello Roos when that cost does not exist.

So basically... take the cash flow of a place that has Mello Roos and absorb it as your profit? That makes me want to buy from Lyon less.
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Call it capitalism or greed.  I think they are looking at the re-sales in Woodbridge and tacking on a premium for the "new home" smell.  But think about it, if people are willing to drop $350/sf-$375/sf for an older Woodbridge home that doesn't have the best floorplan and/or needs remodeling work then they think $400/sf for new stuff should be easy peasy.
 
USCTrojanCPA said:
irvinehomeowner said:
I don't understand how they can capitalize Mello Roos when that cost does not exist.

So basically... take the cash flow of a place that has Mello Roos and absorb it as your profit? That makes me want to buy from Lyon less.
Click to expand...
Call it capitalism or greed.  I think they are looking at the re-sales in Woodbridge and tacking on a premium for the "new home" smell.  But think about it, if people are willing to drop $350/sf-$375/sf for an older Woodbridge home that doesn't have the best floorplan and/or needs remodeling work then they think $400/sf for new stuff should be easy peasy.
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yeah, this is the most likely pricing scenario, but im sure they have all sorts of pricing data points comparing to other new developments, i was just using LV since IHO mentioned it, im sure they did a data point comparison with Maricopa in Stonegate, etc.
 
USCTrojanCPA said:
irvinehomeowner said:
I don't understand how they can capitalize Mello Roos when that cost does not exist.

So basically... take the cash flow of a place that has Mello Roos and absorb it as your profit? That makes me want to buy from Lyon less.
Click to expand...
Call it capitalism or greed.  I think they are looking at the re-sales in Woodbridge and tacking on a premium for the "new home" smell.  But think about it, if people are willing to drop $350/sf-$375/sf for an older Woodbridge home that doesn't have the best floorplan and/or needs remodeling work then they think $400/sf for new stuff should be easy peasy.
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ultimately all irvine pricing is inter-related.
 
We'll see what Mendocino in Stonegate benchmarks at. I think those will be closer to LV pricing so that might put some downward pressure on Lyon.
 
chromatin said:
Looks like the removed the pricing from their website! so we might be surprised with some high 800 pricing for 2,200 sq ft house. We can only keep hoping:D
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I looked last night at the $900k was still there for both Woodbridge and University Park... and in this morning's New Homes section in the OCRegister, they had articles for both with the $900k mentioned.

Yeah... we'll see how fast those homes sell at that price... should have just kept our 3CWG... sheesh.
 
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