What's up with builders in Portola Springs?

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EvaLSeraphim_IHB

New member
<p>In weird (or maybe not) convergence, yesterday I received in the mail brochures and information from Las Colinas, Serra, and Los Arboles. Today I received e-mails from Las Colinas and Serra. I haven't been into these places in ages. What's up? Has TIC agreed to cut the land price on these developments if the builders show effort but no purchase contracts? Any other wild speculation on what it might mean?</p>
 
<p>I've said previously they had their dead-cat bounce after the price reductions in January, and another would be in order late-summer.</p>

<p>I have absolutely no evidence for this but my own casual observations of traffic and pricing patterns, and some limited info from talking to other home salespeople in the area.</p>

<p>SCHB</p>
 
Correction. One piece of yesterday's mail was Bougainvillea, not Las Colinas. I did get e-mail from them today, though.<a href="http://rds.yahoo.com/_ylt=A0oGkjhR1Z5G42gBvs9XNyoA/SIG=139d4r9au/EXP=1184900817/**http%3a//search.yahoo.com/search%3fei=UTF-8%26y=Search%26fr=yfp-t-501%26p=bougainvillea"></a>
 
IMO, PS needs some serious pricing adjustments, maybe it's just me, but Serra and Las Colinas seem grossly overpriced, given their location and proximity to anything. If Serra dropped prices by 30% then I may be interested, but I doubt that'll happen..

<p>

Just comparing price sheets at Las Colinas, indicated they sold a 5 homes between the 1/13 price sheet and the price sheet I picked up a week ago. You'd think the builders would get a clue...
 
They have seen this site. if we start the rating system of all their projects then they will pay more attention. They think the membership is relatively small and neglegible in influencing consumers' confidence
 
<em>"They think the membership is relatively small and neglegible in influencing consumers' confidence "</em>





Perhaps, but we are growing like a cancer.
 
If the builders are reading this. If they don't lower the prices at least offer some type of incentives. Like 1 yr free of HOA since there's no communities parks, pools, etc. during the first few phases. Maybe, buy down rates and no closing cost. Free upgrades, etc. =)
 
<p>I think the PS price has no place to go but down. I also happen to think that PS price drop will be a quite bit higher than areas like Quail Hill, the existing tracks of Woodbury, and Northwood. Several reasons:</p>

<p>a. Buildout tracks prices are more sticky, and very few are in the position of "have to sell". They usually won't sell unless they at least breakeven.</p>

<p>b. PS is building out a lot slower than Irvine Company has anticipated, and with the uncertainy I think some buyers are not willing to jump in.</p>

<p>c. Builders who are there must sell homes, unless they decide to shut down for now, or leave the track.</p>

<p>d. unlike the upcoming OH, I don't think PS is in such a nice surrounding. eash side of the development (where the richmond track is) is very very close to 261. From many lots you can see the 261 as your background. Not a view I want to have for $1 million. </p>

<p>e. Lastly, there will be more competition: the immediates ones will be woodbury east (opening next month), woodbury ( Calpacfic's SFH will be released this fall - 1800 to 2400 sq ft, Stanpac will soon build the model homes for their new track - 3000 to 3500 sq ft). In 12 months, you will see OH (maybe?), and Laugna Cayon track at 133 and 405. The sad thing is I think PS has the worst location. </p>

<p>This is a "death sprial": less people want to buyer there bc of uncertiany, less interests are on the house, the more reduction/incentive the builders have to offer, the less less the price, then causes more uncertainy on the prices to the buyer, then even less interest, then off course more price reduction...this is goes on until the buyers regain confidence...</p>

<p>You got the picture...</p>

<p> </p>
 
irvine123,



I completely agree with you on PS.. of all the new TIC villages, PS has the worst location, yet still tries to command a high price for no additional perceived value... Since the Land Cost 101 article, it'll be interesting to see the pricing strategy on new developments, if, in fact TIC had dropped their prices on lot prices.



Laguna Crossing and OH seem to offer the best locations (hillsides, views), let's just hope they're priced inline with reality.
 
Is the neighborhood over by the cement factory/blimp hangers off of Jamboree and Barranca a TIC village? IMHO, that takes the cake as the worst place to live in Irvine. The neighborhood looks like military housing, Jamboree is already bumper to bumper every day, and now they're putting the finishing touches on a monstrosity of a shopping center with several big box retailers, as if Tustin marketplace were too far away. God bless the American consumer.
 
that would be Village of Columbus or VoC for short.... not a TIC village. some crazy traffic with the new shopping center over there on barranca and jamboree.
 
I agree with marty mcfly that VoC is the worst place in irvine, that being said, I consider VoC Tustin...even though half of the addresses are Irvine. At least VoC is not priced like any other new Irvine property in terms $ / sq ft - the developers know VoC doesn't deserve any premium...They are selling for less than $300 / sq ft right now.
 
VoC is divided into Columbus Grove and Columbus Square. Columbus Grove is on Harvard, across from Westpark. If VoC is the worst place in Irvine, then so is Westpark, and all of the other communities near Harvard.





Columbus Square is further north, and does not have Irvine schools. That area is much cheaper.





Try to drive anywhere in Irvine on the weekend, its all traffic. Culver is a parking lot, and the shopping centers are overcrowded. That's just life in Irvine. If you want a new home with Irvine schools, then you either live in the boonies in PS, have a postage stamp lot in Woodbury, or live near the hangars in VoC. All three communities have train noise, as does most of Irvine.
 
On a side note, while commuting to work the other day, I saw a car with the words IRVINE-SUCK.COM, in big white lettering on the rear windshield. I expected it to be some site detailing all of the negatives of the city, but it looks to be some kid's blog. Odd.
 
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