Cielo million dollar price drops
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NEW -> Contingent Buyer Assistance Program
For your reference, a lot of the Olivewood homes are built on 3600 sq ft lots.
cityofirvine.org
I usually look at the rear setback. I don't think any $2M+ home should have less than a 20 ft setback, but clearly plenty of wealthy buyers disagree...
I would rather have a L-shaped floor plan than a 12ft wide back yard strip.
miniDragonPaw
New member
Still over $1000 per sqft.
CalBears96
Well-known member
These are all view lots, so it's not that outrageous.
CalBears96
Well-known member
First of all, the houses themselves only take up about 1700 sq ft since it's a two story home, you know? And these lots are quite a bit larger than 4000 sq ft. Only a couple of them are 4400 sq ft. Others are 4800 sq ft or larger, like 5400 sq ft all the way up to 7000 sq ft.
For your reference, a lot of the Olivewood homes are built on 3600 sq ft lots.
These price drops were huge and unprecedented for a homebuilder in Irvine. I don't recall ever seeing the builder drop prices so much in dollars (and maybe even in terms of percent). The prices are still a lot but they are not out of line with what things are selling for (and maybe even a "deal" for a new construction view home).
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momopi
Well-known member
New Fire Hazard Severity Zone Maps
In March 2025, the California Office of the State Fire Marshal (OSFM) released its 2025 Recommended Local Responsibility Area Fire Hazard Severity Zone maps for the state of California, including Irvine. The 2025 Local Responsibility Area Fire Hazard Severity Maps are developed by Cal Fire using...
Well there is also garage, driveway, front yard and side yard. Also wall has thickness.
I usually look at the rear setback. I don't think any $2M+ home should have less than a 20 ft setback, but clearly plenty of wealthy buyers disagree...
I would rather have a L-shaped floor plan than a 12ft wide back yard strip.
CalBears96
Well-known member
That puts most of PS into high risk fire zone. Funny thing is that Cielo is in the moderate (yellow) zone.New Fire Hazard Severity Zone Maps
In March 2025, the California Office of the State Fire Marshal (OSFM) released its 2025 Recommended Local Responsibility Area Fire Hazard Severity Zone maps for the state of California, including Irvine. The 2025 Local Responsibility Area Fire Hazard Severity Maps are developed by Cal Fire using...
CalBears96
Well-known member
Most of the Cielo homes do have 20+ ft setback. Only the ones smaller than 4700 sq ft lots don't. My plan 1 sits on a 5100 sq ft lot and the setback is 21 ft from the wall closest to the backwall and 30 ft from the wall further away from the backwall. My lot is slight V shape, which means the sideyards get bigger toward the back, so that's taking up some space. If it were a rectangular lot, then 4700 sq ft would have made 20+ ft setback. The smallest lot in the community, 4200+ sq ft, has a 15 ft setback.
GrowthStateofMind
Active member
Quick and parabolic run up last summer just to correct down close to where it was before the spike, complete wash ha.
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sleepy5136
Well-known member
I would negotiate down to the non-view lot prices if I were a buyer. Any argument mentioning it's not possible are people that don't understand that future markets indicate prices are projected to go down given current rates + home buying season being over soon. Then flip the home 2 years+ from now when rates are projected to be lower.
