These are gonna be incredible, better than Hidden Canyon when not taking into account Uni/proximity to the beach (huge factors, I know). I have a couple buyers interested in the single story floorplan on a view lot, but from looking through this thread, it's going to be competitive!
Alta Vista and Bella Vista at Orchard Hills
- Thread starter lnc
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OC troll
New member
eyephone said:
Trump's actions potentially making the Chinese nervous.
https://www.yahoo.com/finance/video/china-reacts-nervously-trumps-immigration-183400389.html
BruinDoc
New member
Good sign for OH. These homes will hopefully act as a tether, pulling up values of all homes in OH at build-out. Not having been to the Toll Brothers' sales office, I'd imagine some of the lot premiums would bring base prices up to or past $3M, which would put some of these homes near or past $4M ($3.5M for sure) once options/upgrades and landscaping are done. At that price point people would likely be willing to pay more for the other neighborhoods in OH.stephen said:
usctrojancpa
Well-known member
BruinDoc said:
Mid $2m gets you into Turtle Ridge and $3.5m+ gets you into Shady Canyon.
BruinDoc
New member
Yes, which is why it's a boon for OH to have homes at these price points. I'm guessing one is probably getting 'starter homes' at TR and Shady (no shame in that of course!) vs. 5000-6000+ sq ft at OH. I think it will pull up values in OH for all of the neighborhoods.USCTrojanCPA said:
Some ppl just prefer NEW. I said it before, there are still brand new homes available in a very desirable city. Not usually the case in California.
To remodel an old TR or SC home into a brand new home feel, it would cost at least another $200k. Even after dropping $200k, you can only do so much w/ a 10-20 yrs old floor plan. $3.5M SC home usually have less bedroom #s, maybe similar or smaller sqft... $2.5M TR home is very attractive, considering AV or BV's prices points and TR's location + Uni HS. We shall see....
As far as appreciation goes, new communities seem to appreciate faster. Classic example: QH vs LA Back in the day, LA was selling @ $360/sqft when QH's resell was @ $400/sqft.
To remodel an old TR or SC home into a brand new home feel, it would cost at least another $200k. Even after dropping $200k, you can only do so much w/ a 10-20 yrs old floor plan. $3.5M SC home usually have less bedroom #s, maybe similar or smaller sqft... $2.5M TR home is very attractive, considering AV or BV's prices points and TR's location + Uni HS. We shall see....
As far as appreciation goes, new communities seem to appreciate faster. Classic example: QH vs LA Back in the day, LA was selling @ $360/sqft when QH's resell was @ $400/sqft.
Funkie said:
$200K is being pretty conservative on bringing up a higher end TR or lower end SC home to newer design trends if you want the level of finishing to be commensurate with the home/neighborhood. I just brought up a early 90's build 6500+sf home to be on trend and spent more than double that, and I'm still not ecstatic about the finishing.
IF you can "deal" with being further inland, the Vistas are a no brainer right now over TR.
and @USCTrojanCPA, good to see another USC alum on here! Fight On!
BruinDoc said:
I'm not so sure about that. I REALLY like OH as a community as a whole - so much open space, so much greenery, it really is a breath of fresh air when compared with the other new developments east of the 133. If I wasn't stuck on being on at least half an acre, I'd likely be in a La Vita unit right now. However, the reason why the Vista's can and will command such a huge price are attributes unique to the community:
1) Built by Toll - these homes tend to look much more impressive when compared to homes of similar sqft from other builders
2) Spacious lots - it's damn near impossible to find lots > 10,000sf in Irvine outside of SC, nevermind NEW construction
BruinDoc
New member
Alright 1/2 acre and 6500 sq ft...man that sounds nice!stephen said:
It won't pull values at OH per sq ft up to TR or SC ($700-800 I believe) because of the proximity to the coast and being south of 405. But I do think it will decrease the delta. In other words when you have homes in the neighborhood that are worth $3M, that brings more legitimacy to paying higher prices for other smaller homes in the neighborhood. So maybe one can justify paying $500-550 per sq ft because the overall neighborhood is considered more desirable. The exception being La Vita, which I think can be around $600-700 per sq ft based on lot size, plan, and finishes/landscaping.
I like the way you think...with one glaring exception...GO BRUINS!!! 8)
BruinDoc said:
Haha well, I'm out in Peralta Hills, which may as well be Iraq for Irvinites.
I do agree that moving forward the popularity of the Vistas will likely make OH a more prestigious community, I could definitely see it being the crown jewel of north Irvine. Perhaps most of Orchard Hills attending Beckman can finally push some of the "IUSD or bust" holdouts as well.
and I'll just leave this here
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BruinDoc
New member
stephen said:
Aw yes, brings back fond memories of the Neuheisal/Dorrell years...NOT!
Anaheim Hills is a great area. I know people who live there and have been there many times. Yes it's unlikely that a typical Irvine house-hunter will look that 'far' but you get a lot of acreage and house for the money. I also think it's more centrally located than YL.
Perspective
Well-known member
Is there a typical buyer for very large $2M+ homes? I would guess most of these households don't have school age children. It takes time to build the necessary wealth, and to reach your peak earning years, where this price point is feasible, no? Even if a husband and wife each earn ~$200K, you have many other goals when your kids are younger, mainly college funds.
These seem like trophy homes you buy in your late 50s and later, to host adult kids and grandkids, have parties, etc.
These seem like trophy homes you buy in your late 50s and later, to host adult kids and grandkids, have parties, etc.
Perspective said:
I went this weekend, just as a lookie loo, no intention of moving from my current neighborhood in OH. I actually did see some families with older school age children (late elementary to middle/high school). I don't know if they were serious buyers or just lookie loos like me. I overheard one couple saying something to the sales agent about buying a house here because their kids are in college studying in the US.
I couldn't help thinking that as large/grand as the houses are, the 5 foot sideyard setbacks (unless you get one of the pie shaped lots) are just ridiculously narrow when the houses are so large. Those are estate size houses, and to have the proper effect, I think they need to be on estate size lots (Peralta Hills, Villa Park, North Tustin, Orange Park Acres, etc) Also, did anyone else notice the charred/dead trees on the top of the hills behind the alta vista development? fire hazard...
Perspective said:
I think you about nailed it. Young money that made it big in finance, tech, etc isn't dropping this kind of dough to live in the 'burbs.
Anecdotally speaking, my clients interested in Alta Vista are pretty similar in profile. Both couples are 55-60, both husband and wife worked in moderately well paying fields (engineer/physician, dentist/pharmacist) and made shrewd investments, especially in regards to real estate.