Hidden Canyon in Irvine

bones said:
irvinehomeowner said:
irviniteeee said:
Is anybody confused by the fact that VOI includes Hidden Canyon? I could've sworn it wasn't an Irvine Co project...
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It was always Irvine Company, they just didn't build it like they did at Laguna Altura. There was an assumption they would until someone here mentioned that the project was given to Toll Brothers.
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I wonder if it wasn't a VOC, it would have 3cwg.

Oh wow.  Just looked at the floorpans again for Capri and am I looking at it correctly?  There's no third car option for any of the floorplans? 
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You can potentially tandem park a third mini car in portofino, its tight though
 
irvinehomeowner said:
irviniteeee said:
Is anybody confused by the fact that VOI includes Hidden Canyon? I could've sworn it wasn't an Irvine Co project...
Click to expand...
It was always Irvine Company, they just didn't build it like they did at Laguna Altura. There was an assumption they would until someone here mentioned that the project was given to Toll Brothers.
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Now that explains it why the lot size are not as generous as it could have been. 

One would assume if the HC was entirely a Toll Brother project, the lot size would be comparable or larger than those of Melrose at PP. 
 
ps9 said:
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Here's their blurb on "priority list", money talks.

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Great cookie!
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Is Toll Brothers the only one that gives preference to cash buyers?  TM and iPac does not.  First come first serve.  Any other builders out there do cash first?
 
Wish I had $2M in cash to invest in these. They seem like a bargain vs resale at LA. Should be an easy flip down the road.
 
Decrease in price already?  A bit surprising...  Mind sharing where did you get the new price from?  Have they sold out already?  Thanks.
 
You cannot really use Laguna Altura's Toscana community as a marker for prices on these homes. First, Toscana's square footage is much smaller.  Usually, much larger homes will not command the same price per square foot as smaller homes -- ask any appraiser.  Second, Toscana resales are already upgraded, landscaped and include some level of lot premium.  Hidden Canyon pricing does not reflect upgrades, landscaping or lot premium costs.  When Toscana first sold the prices were almost 1 million dollars cheaper -- not all too long ago.  Also, most real estate agents in the community still believe that Laguna Altura is a community which is full of investor-owned properties and is over priced.  Hence, the extreme vacancy in the community.  Note also that most of the "really expensive" homes did not get "snapped up" yesterday.  Since it is obvious that Toll Brothers is always on this site posting detailed and positive information please note that we appreciate the price decreases but you are still way to aggressively priced.
 
orange_curtain said:
Also, most real estate agents in the community still believe that Laguna Altura is a community which is full of investor-owned properties and is over priced.  Hence, the extreme vacancy in the community. 
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What's the vacancy like in Laguna Altura?
 
I don't know the exact numbers. However, for the price point of the community it has a disproportionately high number of investor-owned properties.  Investors rent out the homes or leave them vacant.  I know several families that rent in Laguna A.  The situation in there is a frequent topic of discussion among them and agents who work in the community. 
 
The original prices provided by landofnoland are indeed those released as of 2 weeks ago during their VIP event.  They had pricing for each of the specific lots. 

If the reduced prices are those from this weekend, Cassis and Marbella are seeing their prices reduced by $265k and $210k respectively!!!  That's enormous...  What drove the changes???

Surprisingly, Manhattan current pricing is showing as the original price...  Wondering why that particular lot has retained the premium...
 
Each home has a base price, which is reflected on the website. The prices being quoted by landofnoland are not reduced prices-- these are simply base prices before lot premiums are added in. I am told prices will be increasing with each phase.
 
All lots in phase 1A sold, 1B will be released on the 21st.

Prices were not decreased. Base prices shown on website are exclusive of lot premium, which apparently is on every single lot except for the Manhattan in 1A (no view, relatively small lot). Some of the half acre canyon view lots on Panorama and Scenic Crest will have lot premiums of $1mil.

Assuming the largest plan, Santa Monica is built on one of these lots, that's $3.5mil. Assuming again, that the buyer is ballin' outa control, maxing out on structural with 4th garage ($30k), casita ($120k), prep kitchen ($20k), conservatory ($30k), etc., sayyy $300k. At $3.8mil, that's a build-your-own in shady. Hmmm.... to each their own.
 
I would like to clarify that there has been an initial price decrease. The comparison is not to toll brothers starting prices on their website. The comparison is to the VIP paper that was handed out. Look on page 18 of this link. Those prices on that page are for specific lot sites. If you compare those initial home site prices (on page 18-vip sheet) to the prices offered yesterday at first release the prices have been decreased on almost all homes except for the Manhattan Marbella. Either way, I guess it just doesn't matter because for those prices stated above I would rather buy in Shady or somewhere else in the 92603 area or in Newport Beach. Even Fiano at Pacific Ridge in Newport is better. It is ridiculous that they want to charge a 1 million view premium for a view facing the wrong way. I rather buy in Vicara or Turtle Ridge where the view is a real view.
 
Ok. Sorry in the interest of being credible I realized what the land of no land did. They are comparing base prices on website to prices on vip sheet and assuming prices were decreased. The actual prices of the homes stand at the price sheet on page 18. No price change. It will be a nice community but if your going to buy there plan on staying because there is no way you will ever get your money out esp. at those prices...lol
 
Why do the prices seem so off the scale to you? New construction, gated, "Coastal Canyon" cache, luxury single family homes only on culdesac streets/some with views, and blessed with the Uni High district cherry on top.

The homes will require landscaping and builder upgrades but looking at 4000-5000 sqft resale homes in  QH trades at ~$530/sqft but no gate and older and in Turtle Ridge is $650-700+/sqft.

orange_curtain said:
Ok. Sorry in the interest of being credible I realized what the land of no land did. They are comparing base prices on website to prices on vip sheet and assuming prices were decreased. The actual prices of the homes stand at the price sheet on page 18. No price change. It will be a nice community but if your going to buy there plan on staying because there is no way you will ever get your money out esp. at those prices...lol
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These are good points. Yes, I agree that it is new, gated and assigned to University. First, just because a school is now assigned to Uni doesn't mean that long term it will stay in Uni. If Uni starts getting to capacity most likely Hidden Canyon will be cut out of Uni's boundaries again. Probably likely when Irvine adds another high school. Most likely after the area below Hidden Canyon gets built out. Hidden Canyon is also isolated way out in the corner. Most likely the reason why the Irvine Company gave it up in the first place. You can call it Coastal but don't forget it also borders Laguna Hills. Does Laguna Hills get a "Coastal" Premium too. Qual Hill is more central and has its own shopping center and Turtle Ridge is definitely more coastal because it borders Newport and both areas sit in the 92603 area which is the premium zip code. The term some view homes is also a good statement. Yes I would consider a view home in the area. Im sure they will be very nice but to pay almost 3.5 million for a view home south/southeast facing seems a little ridiculous to me. If you do the math..5000 square feet at 3.5 million is $700 square/ft to break even... This excludes money put in for mello roos, gate fees, real estate closing cost and commission. Yes, a new gated home with a view seems appealing to me but I can't help but feel that this home is not a good investment. It might be a nice home but I wouldn't bank on it being a good investment.
 
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