Avila at Eastwood

i was way down in the Priority list, i got called in for Phase-1 also. Decided to pass it, nothing appealing in the floor plans, and are very expensive.
 
Maybe people are taking their time, I don't know if 5 communities hit the market at the same time often.
 
Yeah, also there's just too many new products out there at these price range.

There are still a lot of buyer out there for the sub-$1M homes but most of these new home coming out right now are all in the $1m-$1.8M range. 

Also for the Avila, there's bigger Calistoga for just a bit more and Eldeberry for much less.  Lots of good alternative and competition for Avila.
 
Wonder if the folks at OH3 is going back to the drawing board, lol
YF will be working OT
 
irvinehomeowner said:
jmoney74 said:
I think we have hit the peak.
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I don't remember new homes this size costing this much in 2005-08.
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I remember we peak around $400/sf during that time and now we are pushing $500 plus, so crazy.
 
what impact it will have on pricing if builders  are unable to move these new homes quick enough. There are just too many homes between 2400-3000 sqft priced higher than $1.2m. This is crazy!
 
There's a decent amount of inventory at the $1.5m mark. As someone mentioned, 5 communities did a grand opening this weekend. It's a lot of competition...but for those thinking that builders are gonna reduce prices - that's not happening.
 
the.irvine said:
what impact it will have on pricing if builders  are unable to move these new homes quick enough. There are just too many homes between 2400-3000 sqft priced higher than $1.2m. This is crazy!
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Here's example to what happen if builder has an unsold inventory.

This Torry home has been on sale since November of 2015.  The home first list on MLS for $1,665,900 without upgrades.  After upgrades, builder actually increase the price to $1,806,900.  After a year and half, builder delisted and relisted again 5 days ago at $1,759,900.  At one time, the price was actually reduced to $1,574,900.
https://www.redfin.com/CA/Irvine/119-Kennard-92618/home/112718901
http://www.talkirvine.com/index.php/topic,14238.msg311896.html#msg311896

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Builders first offer up incentives like design center upgrades and/or closing cost credits to move unsold inventory.  Price drops are one of the last things that they do to get a built, aka standing inventory, home sold.
 
Apparently homes like Morro, Beverly and Avila around $1.5 M are not moving.  No way prices on these homes are going up.  There are only less than 3 pages review on this website, when compares to Piedmont and Petaluma with over 10 pages review.
 
LA168 said:
Apparently homes like Morro, Beverly and Avila around $1.5 M are not moving.  No way prices on these homes are going up.  There are only less than 3 pages review on this website, when compares to Piedmont and Petaluma with over 10 pages review.
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The air gets pretty thin at $1.5m+ as there aren't a ton of those buyers out there (as well as plenty of inventory to pick from), even in Irvine.  There are a ton of buyers up to $1m-$1.2m with somewhat limited resale and new home inventory levels hence why you see resale homes an new home developments like Petaluma, Trellis Court, Delano, Piedmont, Helena, etc sell so quickly. The trophy properties (big lots, view lots, great upgrades, etc) over $1.5m still sell fast.
 
Burn That Belly said:
I believe that everybody is holding out for OH3. Simply because it's coming in 2 months and the folks who are going to spend $1.5-2m want a premium lot with view and the gated community.

No point in buying a $100K "Lexus" LC500 when if you just spend $130K, you'll get that Porsche 911 GTS. It's not that much more money but you get a whole lot more bang. "Orchard Hills The Reserves" sounds a ton more prestigious than "Eastwood Village". It's all in the brand. Image is everything. Not to mention, the beautiful scenic drives into OH itself.
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HAHHHAAH this is too good.


 
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