Author Topic: Barcelona at Los Olivos Village  (Read 34118 times)

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Offline Bullsback

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Re: Barcelona at Los Olivos Village
« Reply #180 on: June 19, 2018, 10:22:00 PM »
Pricing isn't rational but that doesn't matter if people are willing to pay. My mistake was in trying to rationalize at some point (I've rarely been right the past two years as pricing has just jumped and jumped and jumped).

To, IHO's long-stated point, if you find a property you like that you can afford to hold, etc, than you should probably just buy (especially if you haven't been in the market). Such little supply that until you have an event that shifts the supply side of the equation, you aren't going to see any decline in prices (low volumes..sure...but prices aren't going to move without a shift in the supply side and increased unemployment is what will ultimately drive that, imo).

Offline bones

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Re: Barcelona at Los Olivos Village
« Reply #181 on: June 20, 2018, 09:58:21 AM »
Re: that lovely accent wall in the models. Will homeowners even  be allowed to build that under the design guidelines?  And how far away from that zero lot wall will you need to be? 

Offline Irvinecommuter

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Re: Barcelona at Los Olivos Village
« Reply #182 on: June 20, 2018, 10:08:13 AM »
Pricing isn't rational but that doesn't matter if people are willing to pay. My mistake was in trying to rationalize at some point (I've rarely been right the past two years as pricing has just jumped and jumped and jumped).

To, IHO's long-stated point, if you find a property you like that you can afford to hold, etc, than you should probably just buy (especially if you haven't been in the market). Such little supply that until you have an event that shifts the supply side of the equation, you aren't going to see any decline in prices (low volumes..sure...but prices aren't going to move without a shift in the supply side and increased unemployment is what will ultimately drive that, imo).

There is always some level of irrationality for a place that a lot of people want to live at but I think we are close if not past a tipping point. 

Offline aquabliss

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Re: Barcelona at Los Olivos Village
« Reply #183 on: June 20, 2018, 02:28:54 PM »
Re: that lovely accent wall in the models. Will homeowners even  be allowed to build that under the design guidelines?  And how far away from that zero lot wall will you need to be? 

The agents say you can build it after but I bet the HOA won't allow it.  Typically free standing structures can't be more than a foot or 2 above the cinder block wall.

I'm sure the agents don't know the HOA restrictions.  Also the HOA will have some disclaimer like "decorator and landscape features in the model homes may not be representative of current HOA requirements"

Offline Compressed-Village

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Re: Barcelona at Los Olivos Village
« Reply #184 on: June 20, 2018, 03:02:37 PM »
Re: that lovely accent wall in the models. Will homeowners even  be allowed to build that under the design guidelines?  And how far away from that zero lot wall will you need to be? 

The agents say you can build it after but I bet the HOA won't allow it.  Typically free standing structures can't be more than a foot or 2 above the cinder block wall.

I'm sure the agents don't know the HOA restrictions.  Also the HOA will have some disclaimer like "decorator and landscape features in the model homes may not be representative of current HOA requirements"

Yeah Great Park architecture review committee is super strict. I am sure these guys all wear the same hats, makes their jobs seem importance. Which is good to keep everyone inline. I wouldn’ want a double gigantic lions in front of some home because of feng shui fuey

Offline football76

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Re: Barcelona at Los Olivos Village
« Reply #185 on: September 06, 2018, 09:14:54 AM »
Curious, has anybody seen if/how these are selling? Pricing seems high and ongoing nearby construction can't be helping to move these.

Offline Compressed-Village

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Re: Barcelona at Los Olivos Village
« Reply #186 on: September 06, 2018, 09:30:35 AM »
Went by a week ago. My first time there. The parking structure is taking shape across the street and I now have a visual eyesore of the structures. They have sold around 20 + homes and on phase 4. The sale lady said that they are doing extremely well in the selling pace. The community and homes layout is nothing surprising to me as these are cloned motorcourt AND attached at one wall. Sales people projecting this community will sold out in 2 years time frame. And then I looked at the entire project on the table and realized that the 20+ homes is a mere fraction of what to be finish of Barcelona. Maybe they did project this from last year. If I am going to balling around this area and at this price range, Laguna Altura would be what I would plunk down between the two.

Offline football76

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Re: Barcelona at Los Olivos Village
« Reply #187 on: September 06, 2018, 09:38:33 AM »
Went by a week ago. My first time there. The parking structure is taking shape across the street and I now have a visual eyesore of the structures. They have sold around 20 + homes and on phase 4. The sale lady said that they are doing extremely well in the selling pace. The community and homes layout is nothing surprising to me as these are cloned motorcourt AND attached at one wall. Sales people projecting this community will sold out in 2 years time frame. And then I looked at the entire project on the table and realized that the 20+ homes is a mere fraction of what to be finish of Barcelona. Maybe they did project this from last year. If I am going to balling around this area and at this price range, Laguna Altura would be what I would plunk down between the two.

Any idea what the parking structures are for? Or have a link to the current zoning/plan? I'm currently living in a townhome (rental) at Los Olivos down the street. It appears they're building retail there? I must've missed something because I had thought the plan was to build additional apartment complexes + school + park.

I agree Laguna Altura is a much more attractive prospect at this price point. My father in law rents office space literally across the street (bake) and I just cannot fathom $1.6M for homes that sit adjacent to the business park. I guess that's Irvine for you. Gotta live that "full spectrum life."

Wife and I toured during the grand opening w/ Martin, we were not impressed with the floorplans or layouts. Honestly, I would struggle to justify 70% of the asking price.

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Offline USCTrojanCPA

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Re: Barcelona at Los Olivos Village
« Reply #188 on: September 06, 2018, 09:44:32 AM »
Went by a week ago. My first time there. The parking structure is taking shape across the street and I now have a visual eyesore of the structures. They have sold around 20 + homes and on phase 4. The sale lady said that they are doing extremely well in the selling pace. The community and homes layout is nothing surprising to me as these are cloned motorcourt AND attached at one wall. Sales people projecting this community will sold out in 2 years time frame. And then I looked at the entire project on the table and realized that the 20+ homes is a mere fraction of what to be finish of Barcelona. Maybe they did project this from last year. If I am going to balling around this area and at this price range, Laguna Altura would be what I would plunk down between the two.

Any idea what the parking structures are for? Or have a link to the current zoning/plan? I'm currently living in a townhome (rental) at Los Olivos down the street. It appears they're building retail there? I must've missed something because I had thought the plan was to build additional apartment complexes + school + park.

I agree Laguna Altura is a much more attractive prospect at this price point. My father in law rents office space literally across the street (bake) and I just cannot fathom $1.6M for homes that sit adjacent to the business park. I guess that's Irvine for you. Gotta live that "full spectrum life."

Wife and I toured during the grand opening w/ Martin, we were not impressed with the floorplans or layouts. Honestly, I would struggle to justify 70% of the asking price.

I had another client who was at the top of the wait list as he was super excited about the development and was ready to pay up to $1.5m.  He wasn't overly impressed by the models and the price being over $1.5m really turned him off.  We are now in escrow on a much larger SFR in Stonegate for under $1.5m.  I agree that a Laguna Altura resale might be a better option.
Martin Mania, CPA
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