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General => Real Estate => Irvine Real Estate => Topic started by: heverlee on July 10, 2018, 09:55:09 AM

Title: Elderberry should I a buy?
Post by: heverlee on July 10, 2018, 09:55:09 AM
Hello:

I am relocating to Irvine and just signed an agreement to buy a home at Elderberry for ~$460/sqft.  Saw this forum yesterday and see quite some negative on Elderberry regarding it's location and slow appreciation.

I like the house and driving is ok for us coming from other states but now estimating will take some loss when selling it in 5-7 yrs. Should I just exit the contract and look elsewhere? Would like to get a worst case estimate.

thanks for any feedback!
Title: Re: Elderberry should I a buy?
Post by: Irvinecommuter on July 10, 2018, 09:59:53 AM
Don't buy a house for appreciation..buy it because it fits your needs and your budget.

Irvine as a whole will be great for home prices going forward.
Title: Re: Elderberry should I a buy?
Post by: heverlee on July 10, 2018, 10:10:42 AM
thanks.
coming from a mid west state where home price didn't appreciate as crazy as in Irvine, appreciation wasn't our first goal. We want to buy a home that lives comfortably and we also like the hill drive. It is just that location might be  an issue for local Irvine folks which might affect resale.
Title: Re: Elderberry should I a buy?
Post by: OCLuvr on July 10, 2018, 10:28:10 AM
Can you be specific about your issues regarding "location"?

thanks.
coming from a mid west state where home price didn't appreciate as crazy as in Irvine, appreciation wasn't our first goal. We want to buy a home that lives comfortably and we also like the hill drive. It is just that location might be  an issue for local Irvine folks which might affect resale.
Title: Re: Elderberry should I a buy?
Post by: heverlee on July 10, 2018, 10:30:37 AM
I got the impression that local Irvine folks think it is a bit far from highway, shopping, etc.
Title: Re: Elderberry should I a buy?
Post by: Jantoven on July 10, 2018, 10:33:54 AM
I got the impression that local Irvine folks think it is a bit far from highway, shopping, etc.

I would say go for a home that suits your needs and personal situation the best.  Appreciation is a factor, but I would say it is a bigger factor if you are moving into a starter home vs a longer-term home.  Given the size of Elderberry, I’m guessing you intend to stay put in your new home for awhile?
Title: Re: Elderberry should I a buy?
Post by: USCTrojanCPA on July 10, 2018, 10:40:32 AM
I got the impression that local Irvine folks think it is a bit far from highway, shopping, etc.

I would say go for a home that suits your needs and personal situation the best.  Appreciation is a factor, but I would say it is a bigger factor if you are moving into a starter home vs a longer-term home. 

+1  As I tell all my Irvine buyers, if you buy a home with the intent to live there for the longer term (7-10+ years) you should have no worry about the price of the home being lower than what you bought it for.
Title: Re: Elderberry should I a buy?
Post by: heverlee on July 10, 2018, 10:57:24 AM
thank you all for the kind reply.

Yes, I am buying that for a long term home as long as I don't have to move because of job.
We really like Irvine and hope to stay as long as possible.
Title: Re: Elderberry should I a buy?
Post by: Soylent Green Is People on July 10, 2018, 11:20:24 AM

During the Great Recession, Irvine area homes values did decline, but not as deep as similar premium areas. As long as industry remains in Irvine, and the schools keep their high standards, in 5-7 years even in a trough in prices you should still be protected.

Let's say things continue to fall beyond expectations... retain the home as a rental. Let someone else pay off your mortgage. If in 5 to 7 years you're relocated, most relo companies will buy you out. During the crash, some even covered a portion of the missing equity simply because the employee was a valuable asset worth the expense.

It's wise to plan for many future possibilities - both good and bad. This is a good place to bounce your ideas so keep them flowing.

My .02c

Title: Re: Elderberry should I a buy?
Post by: aquabliss on July 10, 2018, 11:22:13 AM
Have you checked out Varenna in OH?  I'd probably choose this over Elderberry if I could get a lot that wasn't right up against the toll.

https://www.villagesofirvine.com/villages-neighborhoods/orchard-hills/varenna/
Title: Re: Elderberry should I a buy?
Post by: Mety on July 10, 2018, 11:28:05 AM
I got the impression that local Irvine folks think it is a bit far from highway, shopping, etc.

Portola Springs in general is a little far away from everything compare to other villages.
Usually people who live in Irvine are used to close access to freeways and shopping centers within less than 5min driving, but PS does not have that advantage so far. Many were saying it would get better once the retail comes in the village, but that hasn't happened within 10+ years yet. Great Park villages which is near PS are planning to open some retails coming years so that could potentially help, but everything is in unknown so far.

On the good side, you do get more square footage on homes since they do tend to give discount for those disadvantages I've mentioned above. 5 Bed SFR in $1.2m is out of question in other villages. People are concerned about PS not appreciating as much, but if you think about it, it just seems like it is not appreciating as much because you bought it cheaper. The pace of the appreciation should be the same, just not really comparable since you had discounts in the beginning.

If you don't mind driving extra 5-10 min, then you should go for it.


And there are some hazardous concerns..... but the sale office should let you know all those.

Title: Re: Elderberry should I a buy?
Post by: OCLuvr on July 10, 2018, 11:47:01 AM
Welcome, BTB/YF 😄!
Title: Re: Elderberry should I a buy?
Post by: Jantoven on July 10, 2018, 12:05:36 PM
I got the impression that local Irvine folks think it is a bit far from highway, shopping, etc.

Portola Springs in general is a little far away from everything compare to other villages.
Usually people who live in Irvine are used to close access to freeways and shopping centers within less than 5min driving, but PS does not have that advantage so far. Many were saying it would get better once the retail comes in the village, but that hasn't happened within 10+ years yet. Great Park villages which is near PS are planning to open some retails coming years so that could potentially help, but everything is in unknown so far.

On the good side, you do get more square footage on homes since they do tend to give discount for those disadvantages I've mentioned above. 5 Bed SFR in $1.2m is out of question in other villages. People are concerned about PS not appreciating as much, but if you think about it, it just seems like it is not appreciating as much because you bought it cheaper. The pace of the appreciation should be the same, just not really comparable since you had discounts in the beginning.

If you don't mind driving extra 5-10 min, then you should go for it.


And there are some hazardous concerns..... but the sale office should let you know all those.

+1, great response.
Title: Re: Elderberry should I a buy?
Post by: heverlee on July 10, 2018, 12:06:37 PM
appreciate the infor.

I am trying to trade off a bit of driving for more space for now.

thanks again!

I got the impression that local Irvine folks think it is a bit far from highway, shopping, etc.

Portola Springs in general is a little far away from everything compare to other villages.
Usually people who live in Irvine are used to close access to freeways and shopping centers within less than 5min driving, but PS does not have that advantage so far. Many were saying it would get better once the retail comes in the village, but that hasn't happened within 10+ years yet. Great Park villages which is near PS are planning to open some retails coming years so that could potentially help, but everything is in unknown so far.

On the good side, you do get more square footage on homes since they do tend to give discount for those disadvantages I've mentioned above. 5 Bed SFR in $1.2m is out of question in other villages. People are concerned about PS not appreciating as much, but if you think about it, it just seems like it is not appreciating as much because you bought it cheaper. The pace of the appreciation should be the same, just not really comparable since you had discounts in the beginning.

If you don't mind driving extra 5-10 min, then you should go for it.


And there are some hazardous concerns..... but the sale office should let you know all those.
Title: Re: Elderberry should I a buy?
Post by: the.irvine on July 10, 2018, 01:27:12 PM
appreciate the infor.

I am trying to trade off a bit of driving for more space for now.

thanks again!

I got the impression that local Irvine folks think it is a bit far from highway, shopping, etc.

Portola Springs in general is a little far away from everything compare to other villages.
Usually people who live in Irvine are used to close access to freeways and shopping centers within less than 5min driving, but PS does not have that advantage so far. Many were saying it would get better once the retail comes in the village, but that hasn't happened within 10+ years yet. Great Park villages which is near PS are planning to open some retails coming years so that could potentially help, but everything is in unknown so far.

On the good side, you do get more square footage on homes since they do tend to give discount for those disadvantages I've mentioned above. 5 Bed SFR in $1.2m is out of question in other villages. People are concerned about PS not appreciating as much, but if you think about it, it just seems like it is not appreciating as much because you bought it cheaper. The pace of the appreciation should be the same, just not really comparable since you had discounts in the beginning.

If you don't mind driving extra 5-10 min, then you should go for it.


And there are some hazardous concerns..... but the sale office should let you know all those.


I think EB is located at best location within PS and is cheapest true new single family home in Irvine. Very peaceful and quite at the top.

I wouldn't be concerned about appreciation or location, look next door, Juniper and Legado, both are detached condos and are selling close to 1.2M. If you like the floorplan and its affordable, go for it. If you want to spend 20% more , buy similar size home elsewhere. We had a condo in PS, which we sold few months ago and got close to 200K in appreciation.
 
One friend of mine just bought at EB and is very happy, we have been to his place few times, its very nice location.   
Title: Re: Elderberry should I a buy?
Post by: akkord on July 10, 2018, 01:40:03 PM
If you're from the midwest, be ready for a incredibly small lot at Elderberry for the home.  There's an unknown developer with view lots hopefully in the near future with bigger lots for those with the view in the same area, probably priced higher, may be worth looking into if you like that area.  IMHO Elderberry lots are too small to be comfortable, no privacy.
Title: Re: Elderberry should I a buy?
Post by: the.irvine on July 10, 2018, 01:43:15 PM
If you're from the midwest, be ready for a incredibly small lot at Elderberry for the home.  There's an unknown developer with view lots hopefully in the near future with bigger lots for those with the view in the same area, probably priced higher, may be worth looking into if you like that area.  IMHO Elderberry lots are too small to be comfortable, no privacy.


Avila at Eastwood, and several homes in CV have similar size lots.
Title: Re: Elderberry should I a buy?
Post by: heverlee on July 10, 2018, 01:43:30 PM
thanks
one thing we also noticed is that there is almost no traffic noise compared to many homes we see in cypress village, pavallion park etc. I think it is due to its remoteness and we are happy about this.

Indeed, we liked Richmond home at the beginning and wanted to buy there but figured EB in close proximity has a better value being SFH with drive way and larger space.
Title: Re: Elderberry should I a buy?
Post by: heverlee on July 10, 2018, 01:49:11 PM
If you're from the midwest, be ready for a incredibly small lot at Elderberry for the home.  There's an unknown developer with view lots hopefully in the near future with bigger lots for those with the view in the same area, probably priced higher, may be worth looking into if you like that area.  IMHO Elderberry lots are too small to be comfortable, no privacy.

fully agree on that, my midwest home is 3600sqft single level inside. I feel embarrassed to tell friends the new home in Irvine sits on a lot of that size. ;-<

Given the huge price difference btw states, I have to give up the lot size while getting a home not significantly smaller inside. will try to use the community park as much as possible. For privacy, guess will try to plant more trees.
Title: Re: Elderberry should I a buy?
Post by: akkord on July 10, 2018, 02:38:24 PM
And I would never buy there either. 

If you're from the midwest, be ready for a incredibly small lot at Elderberry for the home.  There's an unknown developer with view lots hopefully in the near future with bigger lots for those with the view in the same area, probably priced higher, may be worth looking into if you like that area.  IMHO Elderberry lots are too small to be comfortable, no privacy.


Avila at Eastwood, and several homes in CV have similar size lots.
Title: Re: Elderberry should I a buy?
Post by: paydawg on July 10, 2018, 02:54:55 PM
Don't buy any homes from either KB or Richmond American.  Their quality is crap. 
Title: Re: Elderberry should I a buy?
Post by: Mety on July 10, 2018, 03:21:39 PM
Don't buy any homes from either KB or Richmond American.  Their quality is crap.

Who do you recommend?
Irvine Pacific? Brookfield? Lennar?
Title: Re: Elderberry should I a buy?
Post by: Irvinecommuter on July 10, 2018, 04:02:18 PM
Don't buy any homes from either KB or Richmond American.  Their quality is crap.

Who do you recommend?
Irvine Pacific? Brookfield? Lennar?

Honestly...they're all equally bad/good.  They all pretty much hire the same subs.  The real difference is the aftercare...which most builders do anyways because they don't want to get sued.
Title: Re: Elderberry should I a buy?
Post by: Irvinecommuter on July 10, 2018, 04:03:00 PM
If you're from the midwest, be ready for a incredibly small lot at Elderberry for the home.  There's an unknown developer with view lots hopefully in the near future with bigger lots for those with the view in the same area, probably priced higher, may be worth looking into if you like that area.  IMHO Elderberry lots are too small to be comfortable, no privacy.

fully agree on that, my midwest home is 3600sqft single level inside. I feel embarrassed to tell friends the new home in Irvine sits on a lot of that size. ;-<

Given the huge price difference btw states, I have to give up the lot size while getting a home not significantly smaller inside. will try to use the community park as much as possible. For privacy, guess will try to plant more trees.

Yes but unlike the Mid-West...you can actually go outside rather than being hunkered down in your house 9 months out of the year.
Title: Re: Elderberry should I a buy?
Post by: heverlee on July 10, 2018, 04:56:13 PM
If you're from the midwest, be ready for a incredibly small lot at Elderberry for the home.  There's an unknown developer with view lots hopefully in the near future with bigger lots for those with the view in the same area, probably priced higher, may be worth looking into if you like that area.  IMHO Elderberry lots are too small to be comfortable, no privacy.

fully agree on that, my midwest home is 3600sqft single level inside. I feel embarrassed to tell friends the new home in Irvine sits on a lot of that size. ;-<

Given the huge price difference btw states, I have to give up the lot size while getting a home not significantly smaller inside. will try to use the community park as much as possible. For privacy, guess will try to plant more trees.

Yes but unlike the Mid-West...you can actually go outside rather than being hunkered down in your house 9 months out of the year.

this is true, that is why we decide to move here
Title: Re: Elderberry should I a buy?
Post by: USCTrojanCPA on July 10, 2018, 06:32:22 PM
Don't buy any homes from either KB or Richmond American.  Their quality is crap.

Who do you recommend?
Irvine Pacific? Brookfield? Lennar?

Honestly...they're all equally bad/good.  They all pretty much hire the same subs.  The real difference is the aftercare...which most builders do anyways because they don't want to get sued.

True, they all pretty much use the same subcontractors. All the builders are rushing to finish homes as soon as they can and there are a lot of fit/finish repair items that all builders are having to do before and after closing whether it be Toll, Shea, IrvinePac, KB, Brookfield, TriPoint, Lennar, etc.
Title: Re: Elderberry should I a buy?
Post by: CAL on July 10, 2018, 10:45:12 PM
How would you rank which builder make the best homes?
Title: Re: Elderberry should I a buy?
Post by: USCTrojanCPA on July 10, 2018, 11:34:23 PM
How would you rank which builder make the best homes?

From what I heard from my new home buyers, it all depends on the specific people that you deal with from the builder.  Some of my buyers had good experiences and bad experiences with the same builders.  I HIGHLY recommend that all new home buyers get a home inspection prior to closing on their home and request that the builder address/fix the issues in that inspection report as soon as possible.
Title: Re: Elderberry should I a buy?
Post by: Irvinecommuter on July 11, 2018, 07:48:19 AM
How would you rank which builder make the best homes?

I don't really think there is a ranking...it really depends on the people who is working on the project.  If it is any consolation for the higher costs, buying later phases is better in that bad subs get kicked out.   Our cabinet sub was terrible and they got replaced about 2 phases later because of all the complaints.
Title: Re: Elderberry should I a buy?
Post by: WTTCHMN on July 11, 2018, 07:59:00 AM
How would you rank which builder make the best homes?

http://greatersmc.com/socalawards/wp-content/uploads/2015/09/SoCalAwardsWINNERS.pdf
Title: Re: Elderberry should I a buy?
Post by: Kings on July 11, 2018, 10:42:21 AM
How would you rank which builder make the best homes?

http://greatersmc.com/socalawards/wp-content/uploads/2015/09/SoCalAwardsWINNERS.pdf

best logo design, really?
Title: Re: Elderberry should I a buy?
Post by: WTTCHMN on July 11, 2018, 10:46:45 AM
best logo design, really?

Don't laugh - it's the only award that William Lyon Homes actually won.
Title: Re: Elderberry should I a buy?
Post by: WTTCHMN on July 11, 2018, 10:59:24 AM
At the national level, Toll Bros won for the award for best landscape design (Alta Vista) and best architectural design (Plan 3 Alta Vista).  Also the plan 1 backyard that Ronnie splooged over won for best use of outdoor space.

Arlington at Parkside (yes, that one by Mike the shill) won best interior design.
 
https://www.thenationals.com/pages/2018GoldWinners/mobile/index.html
Title: Re: Elderberry should I a buy?
Post by: Mety on July 11, 2018, 01:05:18 PM
All these awards seem like for the appearance only.
What about build quality and what's going on inside?
Title: Re: Elderberry should I a buy?
Post by: USCTrojanCPA on July 11, 2018, 02:49:48 PM
All these awards seem like for the appearance only.
What about build quality and what's going on inside?

All of my buyers recently Toll Brothers purchases had numerous fit/finish items that needed to be taken care of before and after closing, just like the other builders.
Title: Re: Elderberry should I a buy?
Post by: Irvinehomeseeker on January 11, 2020, 04:00:15 PM
Does anyone have most recent pricing for Elderberry?
Title: Re: Elderberry should I a buy?
Post by: USCTrojanCPA on January 12, 2020, 05:57:40 PM
Does anyone have most recent pricing for Elderberry?

I'll be heading over there this week with a client so I'll let you know.
Title: Re: Elderberry should I a buy?
Post by: Mety on January 14, 2020, 01:03:52 PM
Does anyone have most recent pricing for Elderberry?

Thinking of moving there? Is Eastwood not good enough?
Title: Re: Elderberry should I a buy?
Post by: Irvinehomeseeker on January 20, 2020, 09:03:23 PM
Was considering a true SFR to move up from the condo in Eastwood. It all depends on the price pt.
Title: Re: Elderberry should I a buy?
Post by: Mety on January 21, 2020, 12:37:00 PM
Was considering a true SFR to move up from the condo in Eastwood. It all depends on the price pt.

I'm sensing a EW condo would be a better value for ROI. But life is not all about ROI, right?

Title: Re: Elderberry should I a buy?
Post by: Irvinehomeseeker on February 23, 2020, 11:41:05 PM
Checked out elderberry this weekend. Nice location in terms of the openness and view points.  Liked residence three's layout.

Debating if I should upgrade from EW condo to Elderberry. EW location has lots of pros but I like the floor plan of Elderberry.
Title: Re: Elderberry should I a buy?
Post by: USCTrojanCPA on February 24, 2020, 06:01:10 PM
Checked out elderberry this weekend. Nice location in terms of the openness and view points.  Liked residence three's layout.

Debating if I should upgrade from EW condo to Elderberry. EW location has lots of pros but I like the floor plan of Elderberry.

Attached or detached EW condo?
Title: Re: Elderberry should I a buy?
Post by: Irvinehomeseeker on February 24, 2020, 10:08:43 PM
 Detached condo...Petaluma
Title: Re: Elderberry should I a buy?
Post by: USCTrojanCPA on February 24, 2020, 10:19:39 PM
Detached condo...Petaluma
That'll be a nice quick easy sale. I helped 3 buyers buyer Petaluma, I still kick myself for not getting onto the list in the beginning and getting one of those driveway lots on Rotunda but at least one of my clients did. I'll have my Delano listing open house this weekend, swing by if you are free either day...I'll have Corner Bakery.  ;)
Title: Re: Elderberry should I a buy?
Post by: Prototype on March 07, 2020, 07:46:26 AM
Checked out elderberry this weekend. Nice location in terms of the openness and view points.  Liked residence three's layout.

Debating if I should upgrade from EW condo to Elderberry. EW location has lots of pros but I like the floor plan of Elderberry.

I'm beginning to really like the PS5 neighborhoods because they're all detached condos & SFRs. It feels a big less dense than other TIC hoods.  It really depends on what you're looking for. They both have pros and cons.
Title: Re: Elderberry should I a buy?
Post by: Dr. CA Real Estate on April 26, 2020, 01:59:16 PM
Was just at elderberry with a client. The biggest lots left available for anyone looking or if you're an agent and have buyers looking are lots 36 and 60.
Title: Re: Elderberry should I a buy?
Post by: Behzad on May 28, 2020, 06:43:00 AM
Hi

I visited Elderberry last week and liked the community and layouts. I hear mixed reviews abut KB homes. We love plan 3 and we think it is more functional. Any comments on the community, developer, floor plans, upgrades, etc?
Title: Re: Elderberry should I a buy?
Post by: zubs on May 28, 2020, 10:38:29 AM
Every builder uses the same construction companies and home depot day laborers....It's the customer service after you build your home that sets the builders apart.  This was talked about a few years back.

Does Lennar, KB, New homes company, Toll Bros, etc. have their own in house construction company?  I dunno.
Title: Re: Elderberry should I a buy?
Post by: Prototype on May 29, 2020, 10:17:40 AM
I've heard mixed reviews about KB Homes, as builder, but I really like that PS5A neighborhood that Elderberry is placed. All detached homes, spacious, nice views and park/pool right in the middle. 

I have a friend who owns an Elderberry home and seems to really like it. Other options in that neighborhood are Legado (may be sold out), Juniper and Montara.
Title: Re: Elderberry should I a buy?
Post by: akkord on May 29, 2020, 10:56:08 AM
I think I mentioned it early in this thread or maybe another, but the lots are really small compared to the size of the house, and I think the larger lots were in the first couple of phases.  This may be true for most new builds now unless you get the coveted larger lot.  Wife and I looked at Elderberry at one point too (is Mountaineer still around, we considered buying in PS) but we wanted a larger yard and 3 car garage if we could find it.

I believe it was Plan 2s downstairs and Plan 3s upstairs we liked, but it could be flipped, it's been awhile, we visited 2+ years ago. 
Title: Re: Elderberry should I a buy?
Post by: sphinx99 on June 12, 2020, 10:51:55 PM
I might sound like one of the disgruntled folks (why not, everyone has an experience to share) ....

please don't but any of the KB Home properties, especially Elderberry - the company has no empathy for their customers, they nickel-n-dime you, have a really low rating with customer satisfaction, overpriced/overrated!

They decided not to build lots that have been in contract without giving you any updates for months, make you wait indefinitely holding on to your earnest deposit, don't negotiate with you for an alternative, and when you are feeling miserable & decide to leave - your money is theirs to keep!
Title: Re: Elderberry should I a buy?
Post by: Dr. CA Real Estate on June 13, 2020, 02:33:52 PM
I think I mentioned it early in this thread or maybe another, but the lots are really small compared to the size of the house, and I think the larger lots were in the first couple of phases.  This may be true for most new builds now unless you get the coveted larger lot.  Wife and I looked at Elderberry at one point too (is Mountaineer still around, we considered buying in PS) but we wanted a larger yard and 3 car garage if we could find it.

I believe it was Plan 2s downstairs and Plan 3s upstairs we liked, but it could be flipped, it's been awhile, we visited 2+ years ago.

They still a few large lots available
Title: Re: Elderberry should I a buy?
Post by: akkord on June 13, 2020, 09:14:47 PM
I think I mentioned it early in this thread or maybe another, but the lots are really small compared to the size of the house, and I think the larger lots were in the first couple of phases.  This may be true for most new builds now unless you get the coveted larger lot.  Wife and I looked at Elderberry at one point too (is Mountaineer still around, we considered buying in PS) but we wanted a larger yard and 3 car garage if we could find it.

I believe it was Plan 2s downstairs and Plan 3s upstairs we liked, but it could be flipped, it's been awhile, we visited 2+ years ago.

They still a few large lots available

> than 6000/7000 sq ft? 
Title: Re: Elderberry should I a buy?
Post by: best_potsticker_in_town on June 13, 2020, 10:40:05 PM
Are they forcing buyers to pay for solar here? It's a new 2020 CA mandate - but I've found builders don't always comply.
Title: Re: Elderberry should I a buy?
Post by: USCTrojanCPA on June 14, 2020, 09:05:09 AM
Are they forcing buyers to pay for solar here? It's a new 2020 CA mandate - but I've found builders don't always comply.

It depends on when the permits for the tract were pulled, not when the home was built.
Title: Re: Elderberry should I a buy?
Post by: Behzad on June 15, 2020, 09:24:03 PM
Are they forcing buyers to pay for solar here? It's a new 2020 CA mandate - but I've found builders don't always comply.

A basic solar system is included in the purchase price as an standard option. You can pay extra to extend it to a larger unit I believe.
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