Trumark Sells Lake Forest Development Site to KB Homes

NEW -> Contingent Buyer Assistance Program
Something else is up. They delayed grading on a shovel ready project. If the market is so great, why not make more $$$ by developing the land? This sale makes little sense when you take their word for it.

The property site isn't really a Standard Pacific/Shea Homes kind of area. You need a high production second tier builder to put homes there. Any other builder would be putting high$$ homes in a neighborhood that can't really support that kind of buyer.

My .02c

Soylent Green Is People
 
Another update on this thread. Per the Mayor of Lake Forest's presentation today at the OCAR Board of Realtors, KB expects to have models by November with delivered homes shortly thereafter. The tract will not have Mello Roos.  Prices are unknown at this moment, but if you check KB homes web site they may have some data.

Of the other areas in LF being developed (roughly 2800 homes to come) all of them will have some form of Mello Roos fees.

Other items of note:

Alton Parkway should be completed by April 2012. LF's section will be done sooner than the County portion.

No new schools will be built, even though 2800 homes are. Saddleback Unified says they have the capacity in the existing schools. No private schools will be built unless the school gives the developer "the deal of the century" (my summary). This is foolishness on a grand scale and shows a terrific lack of long term vision IMHO. More than likely it will impact value perceptions among buyers.

My .02c

Soylent Green is People.

 
That area is not bad... right next to the park.

That was where I originally thought Summit Crest was going... the higher areas of it have views. Homes near there have 3CWGs... wonder if they will build for continuity... heh.
 
No new schools is just madness. Do they think Laguna Woods is going to relocate?

Plus I need to reiterate, KB...ugh.
 
Ugh... they're using the same ugly retaining walls that Summit Crest did:

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i emailed them to get pricing, figured it was a long shot. and it was. they said the sales office would open on 9/17/11 and could get more info then. what do you guys think these will go for? i think the plan 3 at summit crest was about 710K and about 3,025 sq ft. the plan three looks nice, using van daeles summit crest plan 3 as a guide, the KB plan 3 would maybe go for about 775k? which is about $234/sq ft.
 
irvinehomeowner said:
The location isn't the best and I believe Foothill Ranch homes are at around $700k for the larger ones.

You can get 3000sft+ 3CWG homes in Lake Forest for even less and if you look at Summit Crest, this would be the best comp at $680k:
http://www.redfin.com/CA/Lake-Forest/212-Summit-Vis-92630/home/28673300

Considering prices are dropping.... maybe mid $600k would be a better estimate.
Click to expand...

good call.  based on this i cant see the plan three going for more than 700K, KB is always priced cheaper as well.
 
Saw a billboard on the 5 southbound around the Redhill exit that says, "KB Homes new community on Regency and Osterman, open now".  Checked the KB website, and it still says Coming Soon.  I may drive by tomorrow and see if models are open.
 
I drove by this a few nights ago... it looks like the models are done.

Today's OCRegs New Homes section didn't have any adverts from KB though.
 
I just got off the phone with Sarah at the Whisler Ridge sales office. The models are not done. They will be open in December. The homes will start in the 600-700k's for Plan A. She guesses Plan B may start in the 8's and Plan C in the 9's. Although models are not yet available for tour, they are taking appointments to view the lots and select for buying in Phase 1.
 
IndieDev said:
Failure at that price.
Click to expand...

Agreed. She did clarify at the end of the convo that since A is around 6-7's then B could be 7-8's and C 8-9's so maybe it is lower than I first understood her to mean, however, I have a feeling that's a bare-bones model since the site indicates, as always, homes pictured may not be the lowest advertised price.

The plan details, again, are:

Plan One
2,321 sq. ft.
2-story
3-5 bedrooms
2.5-3 baths
2 car garage


Plan Two
2,752 sq. ft.
2-story
3-5 bedrooms
2.5-3 baths
2 car garage


Plan Three
3,261 sq. ft.
2-story
4-6 bedrooms
3-4 baths
2 car garage
 
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