Mulberry at Cypress Village

Does anyone but me think Mulberry is overpriced? Esp compared to Mendocino and Maricopa in Stonegate?

What happened to all those people who complained about how high Irvine housing was?

I seriously am confused how these are $1mil homes. It's making the 2010 Woodbury Collection look like bargains and I thought those were overpriced at the time.
 
I think most people on this board think irvine housing including mulberry is overpriced. But the folks here seem to place a higher priority on living here in irvine at any cost.
 
qwerty said:
I think most people on this board think irvine housing including mulberry is overpriced. But the folks here seem to place a higher priority on living here in irvine at any cost.
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This is so true, current housing price in all Irvine is overpriced. 

If you compare price per square footage, Mulberry is comparable to current Mendocino's, which is close to $400/sq ft.  That's close to the 2007 bubble price.
 
lnc said:
qwerty said:
I think most people on this board think irvine housing including mulberry is overpriced. But the folks here seem to place a higher priority on living here in irvine at any cost.
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This is so true, current housing price in all Irvine is overpriced. 

If you compare price per square footage, Mulberry is comparable to current Mendocino's, which is close to $400/sq ft.  That's close to the 2007 bubble price.
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Very true.  All Irvine homes are over-priced, old or new, unless it's a fixer upper.  $400/sq ft is actually a really good deal for a Irvine home in good condition.  Most used homes I'm looking at are hovering at $425+/sq ft.  A used home I bid on actually counter-offered an additional $20K, which would have made it $476/sq ft.  It was an 80's home too.  Crazy over-priced.

That's why as over-priced as CV is, it's actually priced average for Irvine standards.  :'(

Seriously, if I didn't have kids, I'd move to Tustin with a 1/2 acre lot where I would have trouble finding my dog in my backyard.

qwerty said:
ZeroLot said:
IrvineHousewife said:
As far as CV, what really changed my mind was reading the DRE's public report. The hazard section just terrified me.
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Could you provide the link for this report?  I tried to google it but had no luck.  Thank you.
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I think they only give it out to potential buyers
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I have a check ready to put down on a lot this month for CV and I didn't even know there was a DRE public report.  :-\ 


SamsonSimson said:
By law, the developer/sales agent must provide a copy of the Bureau of Real Estate report to any prospective purchaser before any earnest money deposit is received or a contract is signed. That this step was taken by the developer must be documented with a receipt. Also, anyone requesting it is entitled to the report.
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Seems like this applies for everywhere else except Irvine.  In Irvine, check first, questions later.
 
I have read DRE public for the Mulberry, and it did mention about Boweman landfill, garbage truck traffic, close to train track, and close to cell tower (one near Jeffery exist from 5 south, one right across Sand Canyon Blvd, and one near Sand Canyon Blvd and the train track), but  I don't recall reading anything about TCE ground water contamination.  I'll go read it again hope I didn't miss it.
 
lnc said:
I have read DRE public for the Mulberry, and it did mention about Boweman landfill, garbage truck traffic, close to train track, and close to cell tower (one near Jeffery exist from 5 south, one right across Sand Canyon Blvd, and one near Sand Canyon Blvd and the train track), but  I don't recall reading anything about TCE ground water contamination.  I'll go read it again hope I didn't miss it.
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Thank you Inc. 

If you don't mind me asking, how did you get a copy of the DRE public report for Mulberry?
 
ZeroLot said:
lnc said:
I have read DRE public for the Mulberry, and it did mention about Boweman landfill, garbage truck traffic, close to train track, and close to cell tower (one near Jeffery exist from 5 south, one right across Sand Canyon Blvd, and one near Sand Canyon Blvd and the train track), but  I don't recall reading anything about TCE ground water contamination.  I'll go read it again hope I didn't miss it.
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Thank you Inc. 

If you don't mind me asking, how did you get a copy of the DRE public report for Mulberry?
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After we reserved the home but before we sign the sales contract, they give us a copy of DRE public report.
 
ZeroLot said:
That's why as over-priced as CV is, it's actually priced average for Irvine standards.  :'(
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If you consider lot size, lot placement, lot orientation and floorplan, you're getting less for your $/sft. It's not just about interior space... it's also about functionality and outside space.

I'd rather pay $400+/sf for an older home that I can walk all the way around, have multiple living spaces, have a deeper backyard and not pay MRs for.
 
IrvineHousewife said:
We were offered a lot and reserved it. It's at that point that they give you the reports, sample contract, etc.
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But when you reserve the lot, don't you have to put down a non-refundable $$$$$ fee and sign the contract on the same day?

lnc said:
After we reserved the home but before we sign the sales contract, they give us a copy of DRE public report.
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How long did the sales office give you time to read the reports before signing the sales contract?

irvinehomeowner said:
ZeroLot said:
That's why as over-priced as CV is, it's actually priced average for Irvine standards.  :'(
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If you consider lot size, lot placement, lot orientation and floorplan, you're getting less for your $/sft. It's not just about interior space... it's also about functionality and outside space.

I'd rather pay $400+/sf for an older home that I can walk all the way around, have multiple living spaces, have a deeper backyard and not pay MRs for.
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The 80's home I was referring to only had 1500 sq ft.  Most 80's home I was looking at in the same price range as CV is less indoor sq ft.  80's homes tend to focus on large family & living rooms, large backyards, and real driveways.  I did take the backyard space into consideration and it was a 20 feet setback instead of the 10 feet at CV.  Side yards were 5' ~ 8' each side.

It was eventually the small bedrooms in older homes that made us look at the newer homes.  The newer homes are about larger bedrooms & an extra 1/2 bath.  The con is obviously less yard space - front and back.

I'm ok with living in an area with Mello Roos.  I'm currently living in a condo association in WB and the CRAZY 2nd association fee is equal to MR in a newer home neighborhood.  Sad, I know.  But at least with CV MR I can deduct it on my taxes and get 3 new schools out of it.  It's worth the trade off ... financially speaking only.

I am curious to hear more about the DRE report on the environment hazards before I make my final decision.
 
They don't deposit the check until you actually sign the contract which doesn't happen for 3-4 days. At least that's been my experience and we reserved a lot in LA and one in CV so we've gone through it twice. There might be exceptions.

The DRE never mentioned the TCE plume. I was just stating that CV is close by and that made me nervous. It's just a personal preference.
 
IrvineHousewife said:
The DRE never mentioned the TCE plume. I was just stating that CV is close by and that made me nervous. It's just a personal preference.
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I appreciate your info, Irvinehousewife.  I'm concerned about the TCE plume too.  From the TCE plume map, it looks like CV is close but not in direct contact YET with the plume.  It's good to know the DRE doesn't mention it.

In my home shopping in Irvine, the TCE plume map has been an essential.  We turned down a lot of homes in the North Lake section due to that map. 

Of course this is also based on my personal preference too.  :)
 
I appreciate your info, Irvinehousewife.  I'm concerned about the TCE plume too.  From the TCE plume map, it looks like CV is close but not in direct contact YET with the plume.  It's good to know the DRE doesn't mention it.

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FYI..the DRE Public Report is written by the developer and the "facts" of the report are not checked by the DRE.  The DRE simply has a checklist of information that needs to be included in the report and the developer provides that information.  Standard disclosures, tract maps, condo plans, HOA budget, bonds, CC&Rs, etc. I'm a previous small time condo converter and personally prepared about a dozen of these reports.  There are numerous disclosures that can be included to mitigate developer risks, but there is a fine line of "scaring" off the buyers.  The mere exclusion of the TCE plume in the Public Report does not mean that there is no risk, nor does it mean that the DRE believe that it isn't a risk, it simply means that the developer and their attorneys have decided to not include it. 
 
@Irvinehousewife and @Inc -

The process is exactly as you stated.  I got called and I signed up for a TIC lot.  They took the deposit but will not cash until I sign the contract later on.  They did give me a sample contract & DRE report & plenty of pages to review at my leisure.

Will be signing the official contract later on this week.

Next mission - mortgage loan & interest rate.  >:D

 
ZeroLot said:
@Irvinehousewife and @Inc -

The process is exactly as you stated.  I got called and I signed up for a TIC lot.  They took the deposit but will not cash until I sign the contract later on.  They did give me a sample contract & DRE report & plenty of pages to review at my leisure.

Will be signing the official contract later on this week.

Next mission - mortgage loan & interest rate.  >:D
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Well, congratulations!!

Just a little heads-up.  You have to decide things like optional conservatory, california room, office at california garage, shower instead of tub etc by the first cutoff date.  These options require 100% deposit.  Make sure you get the price and cutoff date for these stage 1 options.  The stage 1 option's cut off date might came up quickly, so find out early and you'll have plenty of time to decide.

The sales office did not inform us all the option that are in the stage 1, so we miss the deadline for less important stuff like optional shower instead of tub and optional door between the garage and the office.  They also forgot to give us password, log in info to design center's website so we can access to full list of options for later stages.  I have to call the design center and ask for it myself.
 
IrvineHousewife said:
Congrats ZeroLot!! Did you get the plan 2 on the corner lot? Very exciting stuff.
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Thanks Irvinehousewife!  Someone beat us to Plan 2!  lol

But we don't mind.  Plan 3 was our favorite anyway.  :D

And thanks Inc for the great tip.  I'll be sure to keep that in mind.  Those cut-off dates sure do sneak up fast.  I'll make sure to get the Design Center password.  Didn't even know Design Center could be accessed online nowadays.  I would rather spend hours at home looking at the options than in the Design Center show room. 
 
ZeroLot said:
Plan 3 was our favorite anyway.  :D
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Excellent choice ZeroLot.  Plan 2 just doesn't seem right with 3 bedrooms sharing 1 bathroom.  Even the upcoming Caserta provides 3.5 baths compared to Plan 2's 2.5 baths.
 
test said:
ZeroLot said:
Plan 3 was our favorite anyway.  :D
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Excellent choice ZeroLot.  Plan 2 just doesn't seem right with 3 bedrooms sharing 1 bathroom.  Even the upcoming Caserta provides 3.5 baths compared to Plan 2's 2.5 baths.
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Thanks Test.  But I don't want to give the wrong impression.  I got a Plan 3 in Marigold.  I got hooked on the Mulberry thread because there's more info here on the CV development. 

I could buy a home in Mulberry (did sign up for the waitlist) but then we would have to cut back on ballet, piano, swim, etc classes for the kids.  I also like to not cook when I don't feel like it, which is a lot.  If I got Mulberry, Mr. Zerolot will make me cook every day.  :(

But I do get a NICE view of the Mulberry neighborhood from where I am.  So I am with the Mulberry residents in spirit!
 
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