Magnolia at Cypress Village

eyephone said:
yaliu07 said:
anybody still buying?  I thought new house market slowed down.

Thanks
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They are talking nationally. So it depends.  :-\
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Inventory is creeping up in Irvine.  580 active listings and 214 sold in last 30 days.  Inventory is now up to 2.7 months (from ~2.1 months earlier in the month) largely due to slower sales. (data from MLS)
 
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Just got back from Magnolia today, they said to add the downstairs bedroom in plan 1  would cost 35k additional, and 10k to convert california room to conservatory. still too pricey for me :-\
 
test said:
test said:
This Montecito resale in Woodbury is comparable to Magnolia Plan 1.
http://www.redfin.com/CA/Irvine/80-Marblehead-92620/home/28931797

Montecito Plan 1: 3 Bed, 2.5 Bath, 2,156 sqft, $435/sqft
Magnolia Plan 1:  3 Bed, 2.5 Bath, 2,196 sqft, $383/sqft
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Wow, sold for full asking price.  TIC can raise their prices $100k and still be competitive.  ???
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Another one priced $100k above new home.  No wonder these are selling.

This Montecito Plan 2 resale in Woodbury is comparable to Magnolia Plan 2.
http://www.redfin.com/CA/Irvine/32-Marblehead-92620/home/28931918

Montecito Plan 2: 4 Bed, 3 Bath, 2,308 sqft, $1,026,888
Magnolia Plan 2:  4 Bed, 3 Bath, 2,290 sqft, $914,000


 
I loved Magnolia Plan 2.  I think it was 2200 sqrt feet.

At phase 1, it was 875K and is around $398 per sqrt feet.  This sounds reasonable.

But now at phase 9, it is 950K and is around $431 per sqrt feet.  This sounds ridiculous.

There are bunch of new house open at great park which offer lower price.  In this cases, why should I still look at magnolia??
 
ocbird said:
Just got back from Magnolia today, they said to add the downstairs bedroom in plan 1  would cost 35k additional, and 10k to convert california room to conservatory. still too pricey for me :-\
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Damn, 35k is a lot! wtf!
 
Chairman said:
ocbird said:
Just got back from Magnolia today, they said to add the downstairs bedroom in plan 1  would cost 35k additional, and 10k to convert california room to conservatory. still too pricey for me :-\
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Damn, 35k is a lot! wtf!
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$35K is nothing dude! Just finance it at still low rates for 30 years!
 
test said:
yaliu07 said:
There are bunch of new house open at great park which offer lower price.
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Because Mello Roos there is 2x as much.
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Sheahomes sagewood plan 1 is currently at 950K.  it is 2515 sqrt feet + 6500 lot.  I rather pay  2500 extra mello roos and 60 dollars extra on HOA.
 
yaliu07 said:
test said:
yaliu07 said:
There are bunch of new house open at great park which offer lower price.
Click to expand...

Because Mello Roos there is 2x as much.
Click to expand...

Sheahomes sagewood plan 1 is currently at 950K.  it is 2515 sqrt feet + 6500 lot.  I rather pay  2500 extra mello roos and 60 dollars extra on HOA.
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I recently visited Great Park and don't really like the layout of the community and it's far from access to 5 and 405.  It only has one descent park.  I prefer Irvine Pacific community with more common grounds, amenities, and better community layout.

Also, Cypress Village has Jeffrey Trail middle school, New Elementary School in '14, and Possibly New High School in '16 - ALL within a walking distance.  If I was a parent, I will pay high premium to walk my kids to all these schools.  Also, easy access to amenities and freeways.  Magnolia is far away enough from freeway. 
 
yaliu07 said:
test said:
yaliu07 said:
There are bunch of new house open at great park which offer lower price.
Click to expand...

Because Mello Roos there is 2x as much.
Click to expand...

Sheahomes sagewood plan 1 is currently at 950K.  it is 2515 sqrt feet + 6500 lot.  I rather pay  2500 extra mello roos and 60 dollars extra on HOA.
Click to expand...

It is also built over a superfund military base. Seems sketch to me but if you build it... they will come.
 
test said:
test said:
test said:
This Montecito resale in Woodbury is comparable to Magnolia Plan 1.
http://www.redfin.com/CA/Irvine/80-Marblehead-92620/home/28931797

Montecito Plan 1: 3 Bed, 2.5 Bath, 2,156 sqft, $435/sqft
Magnolia Plan 1:  3 Bed, 2.5 Bath, 2,196 sqft, $383/sqft
Click to expand...

Wow, sold for full asking price.  TIC can raise their prices $100k and still be competitive.  ???
Click to expand...

Another one priced $100k above new home.  No wonder these are selling.

This Montecito Plan 2 resale in Woodbury is comparable to Magnolia Plan 2.
http://www.redfin.com/CA/Irvine/32-Marblehead-92620/home/28931918

Montecito Plan 2: 4 Bed, 3 Bath, 2,308 sqft, $1,026,888
Magnolia Plan 2:  4 Bed, 3 Bath, 2,290 sqft, $914,000
Click to expand...

Another Montecito Plan 1 sold for $100k higher than Magnolia Plan 1.  I predict TIC will continue to raise prices into the Magnolia extension lots.

Montecito Plan 1: 3 Bed, 2.5 Bath, 2,156 sqft, $962,249
Magnolia Plan 1:  3 Bed, 2.5 Bath, 2,196 sqft, $872,400 (phase 9 had higher pricing due to only 2 homes per california court)
http://www.redfin.com/CA/Irvine/28-Gables-92620/home/28931308
 
test said:
test said:
test said:
test said:
This Montecito resale in Woodbury is comparable to Magnolia Plan 1.
http://www.redfin.com/CA/Irvine/80-Marblehead-92620/home/28931797

Montecito Plan 1: 3 Bed, 2.5 Bath, 2,156 sqft, $435/sqft
Magnolia Plan 1:  3 Bed, 2.5 Bath, 2,196 sqft, $383/sqft
Click to expand...

Wow, sold for full asking price.  TIC can raise their prices $100k and still be competitive.  ???
Click to expand...

Another one priced $100k above new home.  No wonder these are selling.

This Montecito Plan 2 resale in Woodbury is comparable to Magnolia Plan 2.
http://www.redfin.com/CA/Irvine/32-Marblehead-92620/home/28931918

Montecito Plan 2: 4 Bed, 3 Bath, 2,308 sqft, $1,026,888
Magnolia Plan 2:  4 Bed, 3 Bath, 2,290 sqft, $914,000
Click to expand...

Another Montecito Plan 1 sold for $100k higher than Magnolia Plan 1.  I predict TIC will continue to raise prices into the Magnolia extension lots.

Montecito Plan 1: 3 Bed, 2.5 Bath, 2,156 sqft, $962,249
Magnolia Plan 1:  3 Bed, 2.5 Bath, 2,196 sqft, $872,400 (phase 9 had higher pricing due to only 2 homes per california court)
http://www.redfin.com/CA/Irvine/28-Gables-92620/home/28931308
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$872.4k is just a base price.  Don't you need to consider the upgrades and landscaping costs? Usually $100k+ for both.  Also, some time premium lots. 
 
Magnolia landscaping is done by the HOA.  If you mean the backyard I see about $5k worth in the sold listing.

 
Phase 10 Pricing
Plan 1: $849,900
Plan 2: $921,500 - $946,500
Plan 3: $1,031,000 - $1,056,000


 
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