PP vs CVE vs PS sales and value

So my question is why are sales and new phase price increase lower in Parasol park than they are in CVE and the new PS?  Many of the model's in CVE have gone up over $70-90k in the past 2 phase releases and in PS gone up over $40k in the last few phase releases, inventory is low and most homes are gone on release day.  However in PP the homes are readily available and have only gone up about $10k

IrvineBug22 said:

So my question is why are sales and new phase price increase lower in Parasol park than they are in CVE and PS?  Many of the model's in CVE have gone up over $70-90k in the past 2 phase releases and in PS gone up over $40k in the last few phase releases, inventory is low and most homes are gone on release day.  However in PP the homes are readily available and have only gone up about $10k

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Might be because of HIGH mello-roos?

Which models in CVE are you referring to? 

I think CVE, particularly Trellis, hit a sweet spot with pricing, floor plan, low MR, and central location.

PrettyInGray said:

Agree with the MR fees. MR isn't very attractive at PP. Also, based on my experience living in PP, not a lot of neighbors know each other. Either the homes were empty or they come home after work and never leave the house. Trick or treating was terrible in PP.

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I am referring to Parasol not pavilion Park and the new PS
Paydawg  ALL the CVE have gone up a LOT over the past 2 phase releases.

IrvineBug22 said:

So my question is why are sales and new phase price increase lower in Parasol park than they are in CVE and PS?  Many of the model's in CVE have gone up over $70-90k in the past 2 phase releases and in PS gone up over $40k in the last few phase releases, inventory is low and most homes are gone on release day.  However in PP the homes are readily available and have only gone up about $10k

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PS priced their homes low and great value.. so easy for them to increase pricing.  Maybe same for CVE.  Parasol is priced high to start and high MRs.. plus modern designs so I'm guessing less of a draw.  Makes sense. 

jmoney74 said:

IrvineBug22 said:

So my question is why are sales and new phase price increase lower in Parasol park than they are in CVE and PS?  Many of the model's in CVE have gone up over $70-90k in the past 2 phase releases and in PS gone up over $40k in the last few phase releases, inventory is low and most homes are gone on release day.  However in PP the homes are readily available and have only gone up about $10k

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PS priced their homes low and great value.. so easy for them to increase pricing.  Maybe same for CVE.  Parasol is priced high to start and high MRs.. plus modern designs so I'm guessing less of a draw.  Makes sense.

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PS seems to be picking up on their price. They are not as low anymore.
And yes, Parasol seems almost too modern/different. I personally like that, but I also can't get rid of thinking of resale value with high MR.

jmoney74 said:

IrvineBug22 said:

So my question is why are sales and new phase price increase lower in Parasol park than they are in CVE and PS?  Many of the model's in CVE have gone up over $70-90k in the past 2 phase releases and in PS gone up over $40k in the last few phase releases, inventory is low and most homes are gone on release day.  However in PP the homes are readily available and have only gone up about $10k

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PS priced their homes low and great value.. so easy for them to increase pricing.  Maybe same for CVE.  Parasol is priced high to start and high MRs.. plus modern designs so I'm guessing less of a draw.  Makes sense.

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This!

Mety said:

jmoney74 said:

IrvineBug22 said:

So my question is why are sales and new phase price increase lower in Parasol park than they are in CVE and PS?  Many of the model's in CVE have gone up over $70-90k in the past 2 phase releases and in PS gone up over $40k in the last few phase releases, inventory is low and most homes are gone on release day.  However in PP the homes are readily available and have only gone up about $10k

Click to expand...

PS priced their homes low and great value.. so easy for them to increase pricing.  Maybe same for CVE.  Parasol is priced high to start and high MRs.. plus modern designs so I'm guessing less of a draw.  Makes sense.

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PS seems to be picking up on their price. They are not as low anymore.
And yes, Parasol seems almost too modern/different. I personally like that, but I also can't get rid of thinking of resale value with high MR.

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It's because PS is just about done for part 3.  Legado and Cressa are pretty much all set.  They are building more on the higher hill side of PS so we'll see how those go.  With the cemetery out of the way, there will be some upside to be had if everything designs out well and if the HS does really well. 

PrettyInGray said:

IrvineBug22 said:

PrettyInGray said:

Agree with the MR fees. MR isn't very attractive at PP. Also, based on my experience living in PP, not a lot of neighbors know each other. Either the homes were empty or they come home after work and never leave the house. Trick or treating was terrible in PP.

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I am referring to Parasol not pavilion Park and the new PS
Paydawg  ALL the CVE have gone up a LOT over the past 2 phase releases.

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We may need to come up with a new acronym for Parasol Park LOL.

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PAR

Lower priced b/c high HOA, high mello roos, modern design (not Italian Tuscany like TIC product). 

Hoa are on par with everyone else...I get the higher Mello roos  but the location is a lot better than cve ( low income, sports park traffic, and power station) and better than new PS (far out there) also most of the house are bigger.
So price difference is solely Mello roos and design?

IrvineBug22 said:

Hoa are on par with everyone else...I get the higher Mello roos  but the location is a lot better than cve ( low income, sports park traffic, and power station) and better than new PS (far out there) also most of the house are bigger.
So price difference is solely Mello roos and design?

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Higher MR is huge.  Their MR is probably $5K more per year (and rising 2% annually).  You'd have to have an additional $100K earning 5% (after taxes) to make up the difference every year. 

IrvineBug22 said:

Hoa are on par with everyone else...I get the higher Mello roos  but the location is a lot better than cve ( low income, sports park traffic, and power station) and better than new PS (far out there) also most of the house are bigger.
So price difference is solely Mello roos and design?

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Lol. Oh boy....

Prototype said:

IrvineBug22 said:

Hoa are on par with everyone else...I get the higher Mello roos  but the location is a lot better than cve ( low income, sports park traffic, and power station) and better than new PS (far out there) also most of the house are bigger.
So price difference is solely Mello roos and design?

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Lol. Oh boy....

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You do realize the Power Station is on Parasol Park's side, right?  There were some model homes where literally the substation was the first thing you see when stepping out the front door.  Sports Park traffic?  None whatsoever so far, but I'm more concerned with parking overflow for the proposed "Base Camp" retail business center and ice skating rink.  Traffic may be an issue once Marine Way Rd is connected from Sand Canyon to Alton (traffic bypass).

Honestly our family though of buying in Parasol Park in its earliest stages, but the insane MR + 2% annual increase (no increases in CVE) made the decision to buy in CVE a no-brainer.

The design and Meloroos is just about enough.  The design, although liked by some, turns a lot of the traditional buyers off which is a pretty big segment.  Personally, I go around it and it looks like a dorm area at UCI.  MRs can be overlooked but there has to be some perceived value to pay it.  I just don't see many people seeing ParP as a high end community. 

You do realize the Power Station is on Parasol Park's side, right?  There were some model homes where literally the substation was the first thing you see when stepping out the front door.  Sports Park traffic?  None whatsoever so far, but I'm more concerned with parking overflow for the proposed "Base Camp" retail business center and ice skating rink.  Traffic may be an issue once Marine Way Rd is connected from Sand Canyon to Alton (traffic bypass).

Honestly our family though of buying in Parasol Park in its earliest stages, but the insane MR + 2% annual increase (no increases in CVE) made the decision to buy in CVE a no-brainer.
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Yes i do realize the substation in on ParP side and 1 maybe 2 developments are close but all of CVE is close.  Yes once the sports park,ice rink, soccer stadium are all done there will be traffic and parking overflow problems. yes you mentioned base camp and lets not forget the hotels going to be built. 
Why wouldn't CVE MR go up?
CVE have a tiny park and 1 pool to use.  New PS has better parks and pools than CVE not as good as ParP however thier MR is double CVE and 70%of ParP  but it is far out there and they have a lot of apartments in that area.  I guess the the newPS is appreciating about  the same and selling a little faster than ParP which i get, I just dont get the CVE appreciation besides low MR as my opinion is bad location and very minimal amenities.

IrvineBug22 said:

You do realize the Power Station is on Parasol Park's side, right?  There were some model homes where literally the substation was the first thing you see when stepping out the front door.  Sports Park traffic?  None whatsoever so far, but I'm more concerned with parking overflow for the proposed "Base Camp" retail business center and ice skating rink.  Traffic may be an issue once Marine Way Rd is connected from Sand Canyon to Alton (traffic bypass).

Honestly our family though of buying in Parasol Park in its earliest stages, but the insane MR + 2% annual increase (no increases in CVE) made the decision to buy in CVE a no-brainer.

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Yes i do realize the substation in on ParP side and 1 maybe 2 developments are close but all of CVE is close.  Yes once the sports park,ice rink, soccer stadium are all done there will be traffic and parking overflow problems. yes you mentioned base camp and lets not forget the hotels going to be built. 
Why wouldn't CVE MR go up?
CVE have a tiny park and 1 pool to use.  New PS has better parks and pools than CVE not as good as ParP however thier MR is double CVE and 70%of ParP  but it is far out there and they have a lot of apartments in that area.  I guess the the newPS is appreciating about  the same and selling a little faster than ParP which i get, I just dont get the CVE appreciation besides low MR as my opinion is bad location and very minimal amenities.
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PS has more MR because it has a brand new High school that is decked out.  CVE still in Irvine HS district right?  Arent' there also apartments right next to CVE? 

PrettyInGray said:

Irvine High is the assigned high school for CVE residents. One of the bonds have been paid for that assigned area, and that's why MR is much lower in CVE. Irvine HS is a bit further out from CVE. It's too bad that CVE residents are not assigned to the new PS HS.

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That's not completely correct.  CVE has the exact same $1700 MR (IUSD CFD) as the main CV, Stonegate and Eastwood.  It doesn't look like this MR is gear specific toward high school since CVE is Irvine High, Stonegate is Portola High, Eastwood is NW high.  Looks like this general IUSD bond is gear more toward the elementary schools in their specific neighborhood.

CVE has the lowest overall additional taxes is because CVE does not has that additional AD bond which can range from $1000 - $3000 in the other villages.

IrvineBug22 said:

You do realize the Power Station is on Parasol Park's side, right?  There were some model homes where literally the substation was the first thing you see when stepping out the front door.  Sports Park traffic?  None whatsoever so far, but I'm more concerned with parking overflow for the proposed "Base Camp" retail business center and ice skating rink.  Traffic may be an issue once Marine Way Rd is connected from Sand Canyon to Alton (traffic bypass).

Honestly our family though of buying in Parasol Park in its earliest stages, but the insane MR + 2% annual increase (no increases in CVE) made the decision to buy in CVE a no-brainer.

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Yes i do realize the substation in on ParP side and 1 maybe 2 developments are close but all of CVE is close.  Yes once the sports park,ice rink, soccer stadium are all done there will be traffic and parking overflow problems. yes you mentioned base camp and lets not forget the hotels going to be built. 
Why wouldn't CVE MR go up?
CVE have a tiny park and 1 pool to use.  New PS has better parks and pools than CVE not as good as ParP however thier MR is double CVE and 70%of ParP  but it is far out there and they have a lot of apartments in that area.  I guess the the newPS is appreciating about  the same and selling a little faster than ParP which i get, I just dont get the CVE appreciation besides low MR as my opinion is bad location and very minimal amenities.

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Lol. Have you actually driven to area or just looking at Google Maps? So much false information being thrown around.

Anything that would effect CVE would also effect Parasol Park (Traffic, hotels, sports park). Many of the Parasol Park homes are being marketing as "views of the great park". Any restaurants or amenities being built will be open to both.  Walking distance to GP and Sports Park is a HUGE (free) amenity, in my opinion. I'm not here to bash any of the communities. If you buy in Irvine, it's a good decision. If the home fits the needs of you and your family, make the purchase.

How does the substation effect "all of CVE? Haha. ;D

Prototype said:

IrvineBug22 said:

Hoa are on par with everyone else...I get the higher Mello roos  but the location is a lot better than cve ( low income, sports park traffic, and power station) and better than new PS (far out there) also most of the house are bigger.
So price difference is solely Mello roos and design?

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Lol. Oh boy....

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And there's a affordable housing near Parasol Park too