Trumark Sells Lake Forest Development Site to KB Homes

NEW -> Contingent Buyer Assistance Program
SoCal78 said:
IndieDev said:
Failure at that price.
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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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i spoke to them about a week and she just mentioned they would likely start in the 600-700s, they said the final prices will be based on the demand they see up until the models open in december.  i think IHO had posted a link to the biggest plan (similar in size to what KB is building here) that was built by Van Daele at Summit Crest and they closed at around 690-700K for the final units. There is no way they will get 900K for a 3200 sq ft home when very comparable ones down the block closed for 200K less. I think most consider Van Daele to be a better builder with pretty good standard features so good luck to KB. With that said, the floor plans are pretty nice. They said you can make appts to see the models even though they are not done.
 
stopped by yesterday. they are doing a  broker coop as long as you register with your agent on your first visit. i think it was 3%, just glanced quickly at the sign they had.  models open on 12/10. they will walk you through the models on sundays without an appointment. the sales lady said preliminary pricing was 650K, 750K and 850K for the plan 1, 2 and 3 respectively.  still overpriced. 

the solar options are cool. the basic package is included but for $500 you can upgrade to the package that will save you 60-80% of your monthly utility bill.  they will have an option for 35K package upgrade to install triple pane window, extra insulation,, extra solar panels so your utility bill is close to zero, wire your house to control the thermostat and unlock doors with your Ipad/iphone. not sure what else you get for the 35K.
 
irvinehomeowner said:
qwerty said:
the sales lady said preliminary pricing was 650K, 750K and 850K for the plan 1, 2 and 3 respectively.  still overpriced. 
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So what would be more accurate pricing? 600, 650 and 700?
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that seems about right. if the last of the van daele at 3,200 sq ft closed around 700K, i dont see how you could justify trying to get more for these.
 
IndieDev said:
$475,000
$550,000
$625,000
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this would be preferred, but dont think we will see that pricing. at least initially. if they do open up at 650K, 750K and 850K, it is going to take them awhile to drop down to that.

 
qwerty said:
IndieDev said:
$475,000
$550,000
$625,000
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this would be preferred, but dont think we will see that pricing. at least initially. if they do open up at 650K, 750K and 850K, it is going to take them awhile to drop down to that.
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Of course they won't price these places realistically. Most housing developments these days are ponzi scams (this one included). Sell as many homes to FHA buyers as possible, who cares if they default? Take the government backed cheese and run.
 
Yesterday I was driving down Osterman Rd. where these things are and, if you are familiar with the street, passed by the section where cars line both sides.  Poor apartment complex planning I guess.  Anyway, I saw an empty parallel space with the telltale glass shards where the driver's side door would have been.  My woman had already remarked on the ghettofabness of that little pocket.  Take it as you will.  Shame, because I thought Plan 1 was efficient and a winner at the right price.
 
SoCal78 said:
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.
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The website has them priced at:

$655k
$725k
$800k

So it looks like they went lower than they initially said... but still higher than the comparable Van Daele project (but I guess RE logic says prices always go up so they should be higher :P ).

I think it would be more reasonable at:

650, 700, 750 or 600, 675, 750... but we'll see what the market says.

Today is the grand opening and The Great Food Truck Race winner, The Lime Truck, will be there today from 11-3.

The floorplan for Plan 2 looks interesting (I like the upstairs better than that angular designed downstairs).

2 other pluses about these homes, 1) solar system built-in and 2) no Mello Roos.
 
Yeah using that summit crest plan 3 that closed at 680k, that was 225/sq ft. Which would make the kb plan 3 about 733k. So the plan 3 is roughly 10% higher than the van daele summit crest.
 
if i were to buy in irvine it would probably be las ventanas plan 3 (about 712K for 2,304 sq ft), im ok with the price up until you factor in about another 400/month for MR.  the KB plan 1, has a base price of $655K for 2,321 sq ft, the net payment variance on between these two is about 500/month in favor of KB. LV is 5.6 miles away from KB on portola/241, probably about a 7-8 minute drive.  i believe lake forest schools are pretty good as well, probably just as safe a city as irvine, just curious how many people who are looking at las ventanas would consider the kB homes given the monthly cost difference offset by the additional driving time? i think personally i would probably go with KB.
 
qwerty said:
if i were to buy in irvine it would probably be las ventanas plan 3 (about 712K for 2,304 sq ft), im ok with the price up until you factor in about another 400/month for MR.  the KB plan 1, has a base price of $655K for 2,321 sq ft, the net payment variance on between these two is about 500/month in favor of KB. LV is 5.6 miles away from KB on portola/241, probably about a 7-8 minute drive.  i believe lake forest schools are pretty good as well, probably just as safe a city as irvine, just curious how many people who are looking at las ventanas would consider the kB homes given the monthly cost difference offset by the additional driving time? i think personally i would probably go with KB.
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The Plan 1 has a good layout, a downstairs bedroom & bath and a loft upstairs.  What's the HOA?
 
Went to check out the models with Qwerty and I must say that I really liked the Plan 1, it has everyone that I'm looking for.  The fact that the homes have no Mello Roos is a big plus.  HOA is $142 per month.  Plan 3 was pretty impressive both upstairs and downstairs but way too big for what I need and too expensive for me. 
 
plan 1 was very well executed, excellent floor plan and the dimensions of the rooms felt just right, not too big, not too small.  the backyards in the models were a good size, much better than what you find in irvine. although im guessing the regular homes will be smaller as the average lots are 3,300 sq ft to 4,300. there are some odd shaped lots that are good size, one of their biggest lots, which happens to be a view lot, has a 35K premium. the lot premiums go up to 35K.

plan 2 is good upstairs, but the downstairs really sucks. the location for the tv is at a very weird angle, and that bedroom downstairs (by the living room) is tiny. this plan is easily going to be the worst seller of the three.

plan 3 is also very well done, very open floor plan and all rooms are a very good size.  at 800K though, seems pricey at first for a KB home in Lake Forest, but im guessing they will sell ok, the homes show very well. seeing the plan 3 in person definitely takes away some of the sticker shock especially when comparing the homes to the new construction in irvine. i believe there are 10 homes available in plan 1 and will be ready for move in in april.

overall the homes show well, the location is fine, there is a big apartment complex next door, but that is the case in all of irvines new construction. i like the proximity to the 241 toll road. that would make commuting to the JWA area very easy. if you work in the spectrum area the commute would be a breeze. i do like how they are trying to differentiate themselves by doing the solar thing and offering options that add technology. it is tempting to the pull the trigger on the plan 1. decisions, decisions. maybe ill wait to see how phase 1 sells before pulling the trigger or maybe not.  i think at 600, 650 and 700 these would sell very fast.  at 650, 725 and 800K i can see the plan 1 selling ok due to its affordability to more people, plan 2 will not sell well at all due to the funky first floor layout.  not sure how the plan 3 will sell. you dont see much new construction at 245 sq ft. definitely a bargain compared to irvines 3,000 sq ft plus properties. at 750K i would probably buy a plan 3.

USC signed us up for the 3% broker co-op and as many on this board have already done, would highly recommend him.
 
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