Author Topic: Cadence Park - Great Park  (Read 35371 times)

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Offline USCTrojanCPA

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Re: Cadence Park - Great Park
« Reply #180 on: August 09, 2018, 09:14:43 PM »

I'm sorry. After looking in to these homes more. THAT price is NOT a first time home buying price.

You took the words right out of my mouth, or rather, my fingertips. However, I would really like to know who is buying these properties!

I'm curious about the Residence 2 with the detached garage -- so, where is the garage located? If you think hauling groceries up a flight of stairs is bad, imagine having to haul them from the outdoors when it's super hot or raining!

I can see how those floor plans may work for some people, perhaps those with roommates or extended family living with them. There's a bright side to everything, right? :)

Once the new home smell wears off the buyers of these 3-level condos will find out the it's more difficult renting and selling 3-level condos, especially of this size. 
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Offline IHS3000

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Re: Cadence Park - Great Park
« Reply #181 on: August 09, 2018, 10:43:15 PM »

I'm sorry. After looking in to these homes more. THAT price is NOT a first time home buying price.

You took the words right out of my mouth, or rather, my fingertips. However, I would really like to know who is buying these properties!

I'm curious about the Residence 2 with the detached garage -- so, where is the garage located? If you think hauling groceries up a flight of stairs is bad, imagine having to haul them from the outdoors when it's super hot or raining!

I can see how those floor plans may work for some people, perhaps those with roommates or extended family living with them. There's a bright side to everything, right? :)

Once the new home smell wears off the buyers of these 3-level condos will find out the it's more difficult renting and selling 3-level condos, especially of this size.

Are you focusing on the shortcomings of Prado or all 3 level condos (detached or attached)?

IMO, I am not a fan of the 3 level condo with the kitchen and living rooms on the second floor and main bedrooms on the third floor.

I looked at some detached 3 level condos with great views, efficient floor plans and main living areas on the first floors, like the Ellwood, Carlisle, Jade and Somerset, and they were nice: and they seem to be selling and renting well.
« Last Edit: August 09, 2018, 11:03:20 PM by IHS3000 »

Offline Kenkoko

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Re: Cadence Park - Great Park
« Reply #182 on: August 09, 2018, 11:19:44 PM »
Even 3 level detached homes are not doing so well. This is an Obsidian resale in Parasol park. I think Obsidian still has not sold out yet. Buyer's remorse already?

https://www.redfin.com/CA/Irvine/197-Stellar-92618/home/146014750


Offline USCTrojanCPA

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Re: Cadence Park - Great Park
« Reply #183 on: August 09, 2018, 11:49:14 PM »
Even 3 level detached homes are not doing so well. This is an Obsidian resale in Parasol park. I think Obsidian still has not sold out yet. Buyer's remorse already?

https://www.redfin.com/CA/Irvine/197-Stellar-92618/home/146014750



$1.3m + 3-levels + no driveway = difficult resale
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Offline USCTrojanCPA

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Re: Cadence Park - Great Park
« Reply #184 on: August 09, 2018, 11:51:42 PM »

I'm sorry. After looking in to these homes more. THAT price is NOT a first time home buying price.

You took the words right out of my mouth, or rather, my fingertips. However, I would really like to know who is buying these properties!

I'm curious about the Residence 2 with the detached garage -- so, where is the garage located? If you think hauling groceries up a flight of stairs is bad, imagine having to haul them from the outdoors when it's super hot or raining!

I can see how those floor plans may work for some people, perhaps those with roommates or extended family living with them. There's a bright side to everything, right? :)

Once the new home smell wears off the buyers of these 3-level condos will find out the it's more difficult renting and selling 3-level condos, especially of this size.

Are you focusing on the shortcomings of Prado or all 3 level condos (detached or attached)?

IMO, I am not a fan of the 3 level condo with the kitchen and living rooms on the second floor and main bedrooms on the third floor.

I looked at some detached 3 level condos with great views, efficient floor plans and main living areas on the first floors, like the Ellwood, Carlisle, Jade and Somerset, and they were nice: and they seem to be selling and renting well.

I (and many buyers) are not fans of 3-level homes where the living area is on the 2nd floor and bedrooms on the 3rd floor.  It's totally different if the living area is on the 1st floor and bedrooms on the 2nd floor while the 3rd floor has a deck and/or bonus room.
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Online aquabliss

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Re: Cadence Park - Great Park
« Reply #185 on: August 10, 2018, 01:57:07 AM »
Even 3 level detached homes are not doing so well. This is an Obsidian resale in Parasol park. I think Obsidian still has not sold out yet. Buyer's remorse already?

https://www.redfin.com/CA/Irvine/197-Stellar-92618/home/146014750



Guessing no one ever lived here?  No window coverings!

Offline Kenkoko

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Re: Cadence Park - Great Park
« Reply #186 on: August 10, 2018, 12:11:12 PM »
Guessing no one ever lived here?  No window coverings!
Yeah. And it definitely looks like a speculation play gone bad. Look at this huge price drop listing price
Aug 10, 2018   
Price Changed
CRMLS #OC18137085   $1,188,888   
Jul 26, 2018   
Price Changed
CRMLS #OC18137085   $1,288,898   
Jun 8, 2018   
Listed (Active)
CRMLS #OC18137085   $1,374,888   

Offline irvinehomeowner

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Re: Cadence Park - Great Park
« Reply #187 on: August 10, 2018, 12:28:02 PM »
I just don't get why people don't look for resale at this price point.

Is being the first person to sit on the master toilet worth it?

(and you probably aren't the first, a contractor probably blessed it for you :) )
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Offline bones

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Re: Cadence Park - Great Park
« Reply #188 on: August 10, 2018, 01:29:47 PM »
Guessing no one ever lived here?  No window coverings!
Yeah. And it definitely looks like a speculation play gone bad. Look at this huge price drop listing price
Aug 10, 2018   
Price Changed
CRMLS #OC18137085   $1,188,888   
Jul 26, 2018   
Price Changed
CRMLS #OC18137085   $1,288,898   
Jun 8, 2018   
Listed (Active)
CRMLS #OC18137085   $1,374,888   

Was obsidian one of IHS’ projects?

Offline USCTrojanCPA

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Re: Cadence Park - Great Park
« Reply #189 on: August 10, 2018, 02:04:22 PM »
Even 3 level detached homes are not doing so well. This is an Obsidian resale in Parasol park. I think Obsidian still has not sold out yet. Buyer's remorse already?

https://www.redfin.com/CA/Irvine/197-Stellar-92618/home/146014750



Guessing no one ever lived here?  No window coverings!

Nope, you can tell it's definitely staged...no clothes in the closet and look at where they put the towels.
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Offline paperboyNC

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Re: Cadence Park - Great Park
« Reply #190 on: August 10, 2018, 02:34:49 PM »
If you want easy resale, when spending over $1 million on an orange county home that is anything but beachfront, only buy a true SFR with a full driveway and max two stories.

Offline realEstatey

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Re: Cadence Park - Great Park
« Reply #191 on: August 27, 2018, 06:22:51 PM »

I'm sorry. After looking in to these homes more. THAT price is NOT a first time home buying price.

You took the words right out of my mouth, or rather, my fingertips. However, I would really like to know who is buying these properties!

I'm curious about the Residence 2 with the detached garage -- so, where is the garage located? If you think hauling groceries up a flight of stairs is bad, imagine having to haul them from the outdoors when it's super hot or raining!

I can see how those floor plans may work for some people, perhaps those with roommates or extended family living with them. There's a bright side to everything, right? :)

Hi All,

I wanted to join the conversation because my fiance and I recently put a deposit down on an attached 3 story home in Cadence park (~800k)! In particular, we went with Muse plan 1 (4 bedroom 3.5 baths with the extended ground level suite). We were in the market for almost 8 months and after numerous homes lost to over asking cash offers, we decided to look at new construction.

Why we chose Muse? Firstly, the potential of the neighborhood. My fiance and I are planning to have a family and the area is going to be amazing when everything is built.

Neighborhood:

  • New k-8 School
  • Parks, Pools, and Sports Facilities
  • Warehouse 415 - boutique shops and restaurants
  • Five-points Amphitheater
  • And much more walking/biking distance!

Secondly, the floor-plan is amazing and the home is energy efficient/new! Many on this forum have mentioned the difficulties of a three story plan but the builders make up for this in many ways.

The open layout, high ceilings, and large deck is something we couldn't find in any 2-story homes that we could afford. The use of space makes the home feel much larger than the square footage. The washer and dryer are on the same floor as the bedrooms (3 of 4) which makes laundry easy. The kitchen is huge! An 8 foot by 4 foot island is flanked by a sea of cabinets. This kitchen feels like it belongs in a much more expensive house.

The master-bedroom has a largeeee walk in closet. Again, something you can't find in resale homes in this price range. The ground level suite, where my parents will stay when they retire, is large enough for a bedroom set and a couch/tv area.

I completely agree that if we could afford a larger mortgage a 2-story with a yard and driveway would be ideal but that is harder and harder to come across with a 800k budget in Irvine. When an entry 2-story home does come on the market it's scooped up for more than asking with a cash offer.

I think the 3-story homes are here to stay for "first time buyers". I used quotes because 800k is a very large amount and that is not lost on us. So, when you ask who are buying these homes? I say professional couples in their early thirties/late twenties that are looking for a place to raise a family in a new neighborhood with all the amenities that brings.


Thanks for taking the time to read!


Offline Compressed-Village

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Re: Cadence Park - Great Park
« Reply #192 on: August 27, 2018, 09:55:29 PM »
Nice refute to the anti 3 stories homes. From the builder perspective, the land cost is substantially higher than the improvement cost, which is the construction of the house. Therefore building vertical to gain more liveable sqft, yet keep the price at target for first time homeowners (millennial) to be able to afford is the main goal for these type of homes. Few of the existing neighborhoods in Irvine has this much amenities and potential for the current price range.

I am a firm believer in Irvine when you go long. I think and hope that those that buy in the near term planned for a long hold. If you have any view of less than 3-5 years hold, then I would say renting might be more suitable in my view.

With all the heads line of slowing down, you would want to use it as a leverage and put pressure in your favor on any transaction. This is the time to make the most of your hard earn money. Always be ready to walk away and not having emotional attach to a house.

Offline bones

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Re: Cadence Park - Great Park
« Reply #193 on: August 27, 2018, 10:09:14 PM »

I'm sorry. After looking in to these homes more. THAT price is NOT a first time home buying price.

You took the words right out of my mouth, or rather, my fingertips. However, I would really like to know who is buying these properties!

I'm curious about the Residence 2 with the detached garage -- so, where is the garage located? If you think hauling groceries up a flight of stairs is bad, imagine having to haul them from the outdoors when it's super hot or raining!

I can see how those floor plans may work for some people, perhaps those with roommates or extended family living with them. There's a bright side to everything, right? :)

Hi All,

I wanted to join the conversation because my fiance and I recently put a deposit down on an attached 3 story home in Cadence park (~800k)! In particular, we went with Muse plan 1 (4 bedroom 3.5 baths with the extended ground level suite). We were in the market for almost 8 months and after numerous homes lost to over asking cash offers, we decided to look at new construction.

Why we chose Muse? Firstly, the potential of the neighborhood. My fiance and I are planning to have a family and the area is going to be amazing when everything is built.

Neighborhood:

  • New k-8 School
  • Parks, Pools, and Sports Facilities
  • Warehouse 415 - boutique shops and restaurants
  • Five-points Amphitheater
  • And much more walking/biking distance!

Secondly, the floor-plan is amazing and the home is energy efficient/new! Many on this forum have mentioned the difficulties of a three story plan but the builders make up for this in many ways.

The open layout, high ceilings, and large deck is something we couldn't find in any 2-story homes that we could afford. The use of space makes the home feel much larger than the square footage. The washer and dryer are on the same floor as the bedrooms (3 of 4) which makes laundry easy. The kitchen is huge! An 8 foot by 4 foot island is flanked by a sea of cabinets. This kitchen feels like it belongs in a much more expensive


Congrats!  How’s the light on the second floor?  Not many windows and that large deck takes away some of the natural light to the living room.

I think it’s the combo of 3 floors + high MR that has a lot of people shaking their heads. But I think there’s upside at Cadence Park. Like CV said, just have to hold it for the longer term.

Offline irvinehomeowner

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Re: Cadence Park - Great Park
« Reply #194 on: August 28, 2018, 07:06:04 AM »
I'm not convinced.

While the floorplan may be functional (except for the 3 stories), being attached at both sides (I believe Plan 1 is the sandwich unit) is basically like living in an apartment.

I understand they are maximizing land costs but they should configure these in a way that makes it less obvious you are living in an attached unit. Maybe a 4-pack with a unit on each corner so that every place has at least 2 sides of light and a possible side yard.

For $800k, I would rather get USC's Firefly detached condo in Woodbury (where everything is also walkable) Portola Springs:

https://www.redfin.com/CA/Irvine/152-Firefly-92618/home/112721717

Where is akkord? I think he can find a 4-br detached home in the $800k range.

EDIT: Correction by bones, still prefer non-walkable Firefly over 3-story attached
« Last Edit: August 28, 2018, 08:03:04 AM by irvinehomeowner »
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