Orchard Hills - Strada by Irvine Pacific

Irvine Fanatic said:
best_potsticker_in_town said:
Now that the development is built out, seeing quite a few resales:
https://www.redfin.com/CA/Irvine/59-Quarter-Horse-92602/home/109734754(38 days)https://www.redfin.com/CA/Irvine/55-Quarter-Horse-92602/home/109741345(83 days)https://www.redfin.com/CA/IRVINE/90-THOROUGHBRED-92602/home/107365003(45 days)https://www.redfin.com/CA/Irvine/84-Copper-Mine-92602/home/103690418(13 days)

That said, most of these people are trying to net at least a $150k-$200k profit in the 2-3 years they've owned. Obviously that doesn't factor in the backyard, additional upgrades, and agent commission.
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I think by far 51 Quarter Horse got the most bang for their buck. In just 2 years time, over ~$360K! Now that's some awesome appreciation. I know there's the landscape and commissions that I'm not counting, but still, awesome. I think this particular sale might have pushed some of the others to jump in the market hoping to replicate.

https://www.redfin.com/CA/Irvine/51-Quarter-Horse-92602/home/109734746
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the price they got is more reflective of the view lot.  other non-view strada homes will not sell in this price range. 
 
best_potsticker_in_town said:
Interestingly, almost all the resales have been on the TUSD side of Strada.
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That might be more reflective of those homes' closing timeframes. The TUSD homes were the first phases completed. Those homes reached the magical two-year mark first, allowing up to $500K in profit to be excluded from taxation.
 
I don't believe any Strada 3x models have hit the market yet....I'd be curious to see what the price point would be for the 3x....Also, will be interesting to see whether the Irvine School District homes will command a premium over the TUSD homes....
 
USCTrojanCPA said:
aquabliss said:
A S said:
aquabliss said:
Iron Horse takes the lead...https://www.redfin.com/CA/Irvine/131-Iron-Horse-92602/home/108457924

This one is pretty clean/simple/modern though, definitely tastefully done.
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Will be interesting to see how these three homes with identical floor plans sell.  Was Iron Horse even lived in or just professionally staged to sell? It's nicely done, but with the smallest yard out of the three.  Copper Mine looks dark, but could be due to the furniture and picture quality.
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Pending.  $265k in less than a year, and yes I know there were other expenses.
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Took over 2 months to get into escrow, I'll be shocked if it closes around the listing price....my guess $1.325m to $1.35m.
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Hey SC, know what happen to this one? Looks like they didn't go thru with the purchase.
 
DrTravel said:
How not to make money in Irvine Real Estate
https://www.redfin.com/CA/IRVINE/90-THOROUGHBRED-92602/home/107365003

Bought new from IP for $1,259,000, add landscaping and window coverings, ask $1,399,900, then sell for $1,340,000 less costs (est $65K).

Ouch for future comps...
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I think the flipping days for most of these new builds will pause for a few years.. until more of the new home construction ends.  Gotta still find the values out there.  I think the new PS builds will be the place to do it in this area. 
 
Irvine or Bust said:
DrTravel said:
How not to make money in Irvine Real Estate
https://www.redfin.com/CA/IRVINE/90-THOROUGHBRED-92602/home/107365003

Bought new from IP for $1,259,000, add landscaping and window coverings, ask $1,399,900, then sell for $1,340,000 less costs (est $65K).

Ouch for future comps...
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This is still a decent comp for those who bought in the earlier phases  ;D . I would be concern for the person who bought the model.
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People who buy the models usually aren't in it for the flip.. so they are probably locked in for a good amount of time. 
 
So, what's the deal with homeowners' on Horseshoe in X-plans inability to maintain their yards? There are 2-3 homes that always have 3' weeds in the yards. One of these home's owners doesn't feel the need to even pick up fliers lying in the entryway and stuck in the door, and it's not a vacant house.
 
Perspective said:
So, what's the deal with homeowners' on Horseshoe in X-plans inability to maintain their yards? There are 2-3 homes that always have 3' weeds in the yards. One of these home's owners doesn't feel the need to even pick up fliers lying in the entryway and stuck in the door, and it's not a vacant house.
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Renters?
 
Perspective said:
So, what's the deal with homeowners' on Horseshoe in X-plans inability to maintain their yards? There are 2-3 homes that always have 3' weeds in the yards. One of these home's owners doesn't feel the need to even pick up fliers lying in the entryway and stuck in the door, and it's not a vacant house.
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You should pick it up for them and they will be shocked. Ha
 
Received a few days ago, a flyer on my door announcing the listing of 57 Wild Horse in the neighborhood, but no listing is published in the typical online spots (Redfin, Zillow, etc.).

It's a Plan 3X with a decent backyard. The asking price is $1,549,000.  :eek:
 
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