Orchard Hills - Strada by Irvine Pacific

Yardmatters said:
Finally toured the long-waited IUSD phase of Strada. Seems the price is not mock up a lot, it's more like phase to phase diff as IP always plays. I did see decent number of viewers over the weekend considering the holidays off peak. But to my surprise, all the new releases are not all gone for two days. I thought most buyers are waiting for the IUSD phases that's aldo why the later TUSD releases were slow. From the conversation with the head sales, it seems like if I can decide to buy then i will get one immediately. What about the thick book of waiting lists? That makes worry. So is this another sign of irvine housing slowing down? Shall I wait as everyone else? Thx for sharing.
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4 iusd homes released. 2 sold.
Sidenote: if yard matters, then you're probably barking up the wrong development no?
 
;D maybe I'd have added 'house' after yard to make it less related to house, but beer!
Seriously, this 2 out 4 sold wasn't impresive at all considering the words in the air saying people are queuing up for IUSD releases. Are these people suddenly all gone?

One curious question, since I am not living here long enough to say, have any one seen in the past that IPC reduced their new home price from previous release? For example in the darkest time couple years ago?
 
They don't reduce their prices, they give new buyers design center credits, and leave the prices flat.
 
The holidays are always slow for real estate, both new and resale.  I'm not a fan of Strada, but I'm confident that it will pick up Feb-Mar 2015 to coincide with summer move-in dates.
 
Yardmatters said:
;D maybe I'd have added 'house' after yard to make it less related to house, but beer!
Seriously, this 2 out 4 sold wasn't impresive at all considering the words in the air saying people are queuing up for IUSD releases. Are these people suddenly all gone?

One curious question, since I am not living here long enough to say, have any one seen in the past that IPC reduced their new home price from previous release? For example in the darkest time couple years ago?
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I think 4 homes released is too small of a sample size to jump to any major conclusions. In general, these have sold ok. 80 or so homes released. About 12 currently available. There definitely isn't a list. And there are a lot more homes left to be released. Its going to be a slow churn.  It will be interesting to see how much higher they can push the $1.127m+ asking price on the plan 3s.
 
Visited the sales office again this weekend. Seems they are releasing phase 10 in this week. And was told maybe two out of the phase 10 are considered gone with people put 30K deposit for particular lots.

The drawing shows there are decent yard lots in this phase. However IP charges 350K lot premium for a plan 2 lot (4300), but no premium for a plan 1 lot (4000). That pumps the plan2 to 1.1+m base price!!! Isn't it crazy?

Also seems plan 1 is less favorable floor plan but there is less supply as comp to 2 and 3. Will the resale value of 1 in disadvantage in a long run?

Another finding, guess what, most (potential) buyers are Asian. Will it be another China Town!
 
Is that right? $1.1 million for a model 2 with a 4300 sq lot? Wow part of me is happy to see the increase but the other part just saw my property taxes rise :-[ Those IUSD buyers are going to take us for a ride. Otherwise what's wrong with Chinatown? At least there won't be too many dogs barking. ;D
 
So sorry if my English is not good. But you're telling me they charged a $35k premium for just a 4300 sq ft lot. Was it an end lot possibly? Because they were only charging $15k in the earlier phases for a similar size one.
 
8porkchop said:
So sorry if my English is not good. But you're telling me they charged a $35k premium for just a 4300 sq ft lot. Was it an end lot possibly? Because they were only charging $15k in the earlier phases for a similar size one.
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Must be where the square footage is? I also presume they figure they can get more on a plan 2 / plan 3 vs. 1? Maybe?  I know there were corner lots in earlier phases with 15K premiums, others with 35K premiums, despite similar overall lots. 

Still it certainly would appear that Strada is relatively fairly valued (from a $/sq ft) given location vs. say a CV / Stonegate (say Arcadia / Laurel / Mulberry (or whichever is the one that starts with M in CV that is SFR). 
 
Bullsback said:
Did anyone have any luck getting option cost lists prior to entering a contract with IPC?
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Do you mean the upgrades?

That's thru the design center, which won't even give you the time of day unless you've signed the contract and get them on a good day.

I can give you some pricing ideas as we are going thru the design process right now.

 
timandjess said:
Bullsback said:
Did anyone have any luck getting option cost lists prior to entering a contract with IPC?
Click to expand...

Do you mean the upgrades?

That's thru the design center, which won't even give you the time of day unless you've signed the contract and get them on a good day.

I can give you some pricing ideas as we are going thru the design process right now.
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Awesome. Just sent you a PM.  Thanks so much!
 
Visited the Strada sales office on Saturday.  Phase 10 homes (6 lots) were released last week, they already had 4 checks.  The parking lot was packed.  Think these next few phases will go pretty quickly, since there are people waiting for Strada to cross over to IUSD.

Phase 1 homes look pretty much complete from the outside, heard it's late December move in.
 
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