I looked at model 1 of SC in WBE for $680k. I didn't know why it was 80k more than the plan 3 of Sevilla in PS, which was about the same size. The sales rep told me it was because of the location of WBE to the Woodbury Town Center. He also added that Sevilla was so close to the 133, but SC is right next to the 133 also, albeit the freeway is lower than PS, which the freeway is higher. I did the calculations and although the lower HOA of $134/month at SC is less than the HOA at Sevilla at $244/month and lower effective tax rate of 1.5% vs 1.7% in PS, the difference was $250 more for SC (20% down on both). I've read all pros and cons of peoples' posts here. I decided that $680k is too high and I will wait for Taylor Morrison's Las Ventanas plan 1 (although smaller at 1800 sq ft vs SC's 2044 sq ft) in PS for a true SFR. But that would have tough resale as it backs right into the 133. Oh well, there is a reason they arent selling the SC units, even with a $25k incentive.
Thoughts on Santa Cruz in WBE
- Thread starter jyeh74
- Start date
NEW -> Contingent Buyer Assistance Program
I think when they first started selling the plan 1 SC, they were listed at around 625K without any upgrades. With a conservatory, it was like 650k-670k depending on the location. So if they are selling the latest ones for around 630k, it is about 5k more than the first few phases. (By the way, I hear that they are throwing in the conservatory for free now.)
Thats about right.
In buyers market, the selling price is 3-8% less than listed price on an avg. While that holds true for most resale properties, looks like new homes also are following the same percentages.
Poor early birds, who bought at 100% of listed price!
Do you mind sharing the link??
That is interesting. I went to WBE 2 weeks ago and they told me plan one is $679k, plan two is $696,200 and plan three is $722k all with $25k incentive toward closing costs or upgrades. They said price is firm. With this link, that means they lied. Or maybe this is for the ones they cannot sell.
These might have been standing inventory. I know they offered free backyard landscaping for some of the models that were already completed. Buyer had to close escrow in 30-45 days.
woodburyowner
Well-known member
I thought SC homes are selling quite well. I've been getting a call every week stating that there is yet another phase release. Seems they want to close out the development before the next batch of new homes open up.
irvinehomeowner
Well-known member
I've found placeholders for LasVent (and the LagAlt homes too) on TIC's site so they are imminent... but I do think if LV holds to mid $600k pricing... it's going to be very difficult for any detached condo in that same range to compete.
I think Santa Cruz/WBE gets some of the splashover from being so close to WB proper but since similar products are selling for $100k less over at PS... it's made it even harder for them to move product. Van Daele is even competing with themselves with Sevilla... and while SC is bigger, Sevilla has Plans 2 and 3 that have 4 bedrooms where only SC's Plan 3 has a 4th br (added recently as a Plan 3X).
I think Santa Cruz/WBE gets some of the splashover from being so close to WB proper but since similar products are selling for $100k less over at PS... it's made it even harder for them to move product. Van Daele is even competing with themselves with Sevilla... and while SC is bigger, Sevilla has Plans 2 and 3 that have 4 bedrooms where only SC's Plan 3 has a 4th br (added recently as a Plan 3X).
lookingnirvine
New member
Found something interesting about the closing price for 2 homes in Santa Cruz. The actual purchase price is 40K-50K below the asking price, but I am not sure whether this includes the 25K incentive.
Asking price was 681K, sold for 631Khttp://www.redfin.com/CA/Irvine/213-Mantle-92618/home/35653639
Asking price was 677K, sold for 632Khttp://www.redfin.com/CA/Irvine/221-Mantle-92618/home/28678807
Asking price was 681K, sold for 631Khttp://www.redfin.com/CA/Irvine/213-Mantle-92618/home/35653639
Asking price was 677K, sold for 632Khttp://www.redfin.com/CA/Irvine/221-Mantle-92618/home/28678807
lookingnirvine said:
I think when they first started selling the plan 1 SC, they were listed at around 625K without any upgrades. With a conservatory, it was like 650k-670k depending on the location. So if they are selling the latest ones for around 630k, it is about 5k more than the first few phases. (By the way, I hear that they are throwing in the conservatory for free now.)
lookingnirvine said:
Thats about right.
In buyers market, the selling price is 3-8% less than listed price on an avg. While that holds true for most resale properties, looks like new homes also are following the same percentages.
Poor early birds, who bought at 100% of listed price!
irvinehomeowner
Well-known member
That's not very sound financial advice.IndieDev said:
firsttimer
Member
irvinehomeowner said:
Do you mind sharing the link??
irvinehomeowner
Well-known member
No data... just says "Las Ventanas" or "San Remo" etc. No sq footage or floorplans. Here's an example:
http://www.villagesofirvine.com/Villages-And-Residences/Stonegate-Floorplan.aspx?type=home&Id=259
Just change the last number up and you'll see the LagAlt ones.
http://www.villagesofirvine.com/Villages-And-Residences/Stonegate-Floorplan.aspx?type=home&Id=259
Just change the last number up and you'll see the LagAlt ones.
lookingnirvine said:
That is interesting. I went to WBE 2 weeks ago and they told me plan one is $679k, plan two is $696,200 and plan three is $722k all with $25k incentive toward closing costs or upgrades. They said price is firm. With this link, that means they lied. Or maybe this is for the ones they cannot sell.
woodburyowner
Well-known member
jyeh74 said:
These might have been standing inventory. I know they offered free backyard landscaping for some of the models that were already completed. Buyer had to close escrow in 30-45 days.
usctrojancpa
Well-known member
You should trust those sales people as far as you can throw them.jyeh74 said:
they kept calling me for a while offering the $722K + free conservatory, or $25K in upgrades + landscaping.
every time we would drive by we'd tell ourselves, "oh yeah, that's why we dont want to live here". alleys and home frontage looks horrible. really poor execution. the models looked better because you didnt have the adjacent houses. fully built out, i'd feel "trapped". Same actually goes for Montecito, even with the driveway. We really liked plan 2 layout and design. There were avaiable homes, but we passed there as well.
every time we would drive by we'd tell ourselves, "oh yeah, that's why we dont want to live here". alleys and home frontage looks horrible. really poor execution. the models looked better because you didnt have the adjacent houses. fully built out, i'd feel "trapped". Same actually goes for Montecito, even with the driveway. We really liked plan 2 layout and design. There were avaiable homes, but we passed there as well.
irvinehomeowner
Well-known member
I am guilty of this... but thinking about spending over $700k on a detached condo is crazy.
I hate my love for Irvine.
I hate my love for Irvine.