Orchard Hills - Capella by Taylor Morrison

woodburyowner said:
aquabliss said:
Yikes Capella curse is still there I guess:https://www.redfin.com/CA/Irvine/126-Long-Fence-92602/home/58551576

Held this house for nearly 3 years and asking price is only $14k more than the sales price in September 2015?!

Don't get this, OH is nice and Capella floorplans are pretty good, this lot even has a view with a fancy glass fence, not much yard to speak of but that goes for most of OH...  What gives?
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3110 sq ft house on a 3760 lot.  Are there any recently built SFRs that have a worse ratio?  Definitely no bidding war on this property.
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I guess auburn Chelsea with basement wins?  I don?t remember exact sq ft, but it?s around 4-5k house, smallest lot size is probably around the same 1:1 ratio, lol
 
But why does Strada sell for $1.55m?  Is it the lot size?  Is it the school district? 

https://www.redfin.com/CA/Irvine/57-Wild-Horse-92602/home/105486347?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link
 
shadyoc said:
But why does Strada sell for $1.55m?  Is it the lot size?  Is it the school district? 

https://www.redfin.com/CA/Irvine/57-Wild-Horse-92602/home/105486347?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link
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That side of Strada is zoned for TUSD.
 
best_potsticker_in_town said:
shadyoc said:
But why does Strada sell for $1.55m?  Is it the lot size?  Is it the school district? 

https://www.redfin.com/CA/Irvine/57-Wild-Horse-92602/home/105486347?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link
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That side of Strada is zoned for TUSD.
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Did they buy it from the builder for $1.435m in 2016 or did it trade once already?  I don?t remember strada being that expensive during builder sales. 
 
bones said:
best_potsticker_in_town said:
shadyoc said:
But why does Strada sell for $1.55m?  Is it the lot size?  Is it the school district? 

https://www.redfin.com/CA/Irvine/57-Wild-Horse-92602/home/105486347?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link
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That side of Strada is zoned for TUSD.
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Did they buy it from the builder for $1.435m in 2016 or did it trade once already?  I don?t remember strada being that expensive during builder sales.
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I think that one has a lot premium as it's pretty good size at 5,280 sqft.
 
Historically, Strada has always done well. It sold out quickly and re-sales have been trading pretty fast as well. Nothing special with the floor plans - they're the typical IP flavor. Maybe people just like the specific area.
 
Maybe people don?t like the Groves area because it?s close to the tolls?  But Varenna isn?t having that difficulty in selling and they are right next to the tolls AND Varenna have 3500 sq ft lots.  Agent says that house is hard to sell because of the T intersection more than the small lot.
 
shadyoc said:
Maybe people don?t like the Groves area because it?s close to the tolls?  But Varenna isn?t having that difficulty in selling and they are right next to the tolls AND Varenna have 3500 sq ft lots.  Agent says that house is hard to sell because of the T intersection more than the small lot.
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That new home smell is enticing - small lots and all.
 
shadyoc said:
Maybe people don?t like the Groves area because it?s close to the tolls?  But Varenna isn?t having that difficulty in selling and they are right next to the tolls AND Varenna have 3500 sq ft lots.  Agent says that house is hard to sell because of the T intersection more than the small lot.
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I don't think the toll road is the reason since those even more expensive home in the Groves like La Vita, Trevi, Amelia, Alta Vistas etc are selling like hot cakes and currently, like you point it out,  the Varenna and also the Padova are selling quite well. 

When the Capella came out, Strada was also came out around the same time.  The slightly smaller Strada are about $150k to $350k cheaper and  the non-gated Strada also offers lower monthly HOA, majority of home are zoned to IUSD and many home site offers a larger lot.  Combination of lower selling price, lower HOA, zone to IUSD and larger lots, Strada is killing Capella's sales.

And now at the resale market, the Capella is competing against brand new and very well priced Varenna and Padova.  Currently the Varenna and Padova are selling well because they are priced very well at current market and also don't have a lower priced new home competitor in OH like Capella does with Strada.  The Terra at the OH Reserve probably is the closest product similar to the Varenna and Padova but Terra are significantly more expensive.

Seems like the Capella can never catch a break.
 
Another item working against Capella is the feeling that the streets are not as wide as Strada's.  The homes don't have much setback and so the combination of the two, especially with cars parked on the street, doesn't give Capella a spacious feeling IMO.  I don't get that same feeling driving through Strada or other Groves communities like Saviero.
 
Ya when I drove through Capella at night, seems like both sides of the streets were packed with cars and it was very tight just passing an oncoming vehicle on the other side of the street. 
 
aquabliss said:
Ya when I drove through Capella at night, seems like both sides of the streets were packed with cars and it was very tight just passing an oncoming vehicle on the other side of the street.
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Why are you cruising Capella at night? Does your wife know? Does Mr. Paris know?
 
Happiness said:
aquabliss said:
Ya when I drove through Capella at night, seems like both sides of the streets were packed with cars and it was very tight just passing an oncoming vehicle on the other side of the street.
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Why are you cruising Capella at night? Does your wife know? Does Mr. Paris know?
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Oh, my, my.  Mr. Paris has a gun
 
Irvine Dream said:
Happiness said:
aquabliss said:
Ya when I drove through Capella at night, seems like both sides of the streets were packed with cars and it was very tight just passing an oncoming vehicle on the other side of the street.
Click to expand...

Why are you cruising Capella at night? Does your wife know? Does Mr. Paris know?
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Oh, my, my.  Mr. Paris has a gun
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::) you know it. we're a high security neighborhood. who needs guards and a gate
 
Happiness said:
aquabliss said:
Ya when I drove through Capella at night, seems like both sides of the streets were packed with cars and it was very tight just passing an oncoming vehicle on the other side of the street.
Click to expand...

Why are you cruising Capella at night? Does your wife know? Does Mr. Paris know?
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Welcome back, Black Fever!
 
I like driving around neighborhoods at night just to get a feel for how packed the community feels when everyone is home.  One should always do this before seriously considering putting an offer on a home in that neighborhood.
 
Is Capella is the only one that hasn?t appreciated in the entire Groves due to small yard?  That probably means Varenna resales will be bad also.
 
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