Author Topic: New Development: PS-5  (Read 8209 times)

0 Members and 1 Guest are viewing this topic.

Offline lnc

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 534
  • -Received: 1009
  • Posts: 3046
Re: New Development: PS-5
« Reply #30 on: April 18, 2019, 12:48:48 PM »
Though it's the first time IP as a 'brand' is building in Portola Springs, IP and CalPac are both subsidiaries of TIC, so I wouldn't say it's some sort of a new revelation.

Are you sure CalPac is a subsidiaries of TIC?  All I know is that the owner of both company are related but not sure if TIC own entirely or portion of CalPac.

The IP only build in the best (in terms of marketing prospective) TIC neighborhood, build at desirable location within that development and only offer product is the mid price range in order to assure a sales success.  This is probably why despite of boring floor plans, all IP home sold very well when it was new and continues to do well in the existing home market.

So IP finally decided to build at this part PS is pretty significant IMO.  This part of PS was originally planned to be gated and at one time it was thought to be the same tier as gated OH neighborhood.   


Offline irvinehomeowner

  • The Unicorn Hunter
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2122
  • -Received: 3554
  • Posts: 20453
  • 3CWG
Re: New Development: PS-5
« Reply #31 on: April 18, 2019, 02:20:05 PM »
Better margins in high density un-gated housing. :)
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
FCB: Foreign Cash Buyer
I recommend:
www.irvinerealtorsite.com
member: Soylent Green Is People (loans/refis)

Offline bones

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 195
  • -Received: 1088
  • Posts: 4450
Re: New Development: PS-5
« Reply #32 on: April 18, 2019, 02:53:54 PM »
Though it's the first time IP as a 'brand' is building in Portola Springs, IP and CalPac are both subsidiaries of TIC, so I wouldn't say it's some sort of a new revelation.

Are you sure CalPac is a subsidiaries of TIC?  All I know is that the owner of both company are related but not sure if TIC own entirely or portion of CalPac.

The IP only build in the best (in terms of marketing prospective) TIC neighborhood, build at desirable location within that development and only offer product is the mid price range in order to assure a sales success.  This is probably why despite of boring floor plans, all IP home sold very well when it was new and continues to do well in the existing home market.

So IP finally decided to build at this part PS is pretty significant IMO.  This part of PS was originally planned to be gated and at one time it was thought to be the same tier as gated OH neighborhood.   



I’m not so sure what’s so significant about it.  So they came in 12 years after PS started and cherry picked the view tract to build on?  After all the infrastructure (schools + community park) has been built?  With the same old boring floor plans?  Whoopdeedoo.

Offline OCLuvr

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 19
  • -Received: 29
  • Posts: 425
Re: New Development: PS-5
« Reply #33 on: April 20, 2019, 04:49:30 PM »
Drove by today PS5; breath taking views

Offline Compressed-Village

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 247
  • -Received: 176
  • Posts: 1385
Re: New Development: PS-5
« Reply #34 on: April 20, 2019, 08:39:08 PM »
Did someone said that, there is currently too much supplies of homes available? TIC and FIvePoints doesn’t think so. :)

IP and 5P both know, which is why they've been lowering their prices and rushing rushing rushing to finish their developments.  They know the next downturn in housing will be a gradual, slow decline so they need to *finish* fast.

This is not a pump and dump mentality that you refer to. You speaks as if these are fly by night builders and disappear after they sell you a house. IF there is a down turn, wouldn’t it makes more sense to stop and abate the buildings. Holding the lands and pay little to nothing in taxes on the lands, rather than build and having to pay taxes on the improvements on their books and not able to sell and hit them in their profit margin? They could easily lay-off workers and contractors to preserve their balance sheets. When was the last time you actually look for contractors to perform any home improvements and how hard was it and how expensive to locate a proper skills for your need? All I have to tell you is it is harder and more expensive than last year. Labor market is tight. These builders have resources, sales staff, and a team of advisors to know when to slow down.

If and when the builders stop building and lands stop getting improvements then I will be worry. Until then, I have to trust that these major real estate players knows more than I am.

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2093
  • -Received: 1663
  • Posts: 8237
  • Gender: Male
Re: New Development: PS-5
« Reply #35 on: April 22, 2019, 03:34:31 PM »
Did someone said that, there is currently too much supplies of homes available? TIC and FIvePoints doesn’t think so. :)

IP and 5P both know, which is why they've been lowering their prices and rushing rushing rushing to finish their developments.  They know the next downturn in housing will be a gradual, slow decline so they need to *finish* fast.

The lower/middle market is doing better now that rates are lower so they probably think things have stabilized for now, which they have (as long as rates stay low).
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline qwerty

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2437
  • -Received: 1551
  • Posts: 7077
Re: New Development: PS-5
« Reply #36 on: April 22, 2019, 05:07:24 PM »
Is the Irvine company debt free? I doubt it. So there is some cost to holding on to the land. They are paying interest and have an asset that isn’t generating cash flow at this time. So there is at least an indirect cost. Perhaps just not a direct cost (any direct costs are probably not significant?)

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2093
  • -Received: 1663
  • Posts: 8237
  • Gender: Male
Re: New Development: PS-5
« Reply #37 on: April 22, 2019, 05:10:33 PM »
Is the Irvine company debt free? I doubt it. So there is some cost to holding on to the land. They are paying interest and have an asset that isn’t generating cash flow at this time. So there is at least an indirect cost. Perhaps just not a direct cost (any direct costs are probably not significant?)

Indeed, the opportunity cost of deployment that cash elsewhere is probably their biggest cost.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline the.irvine

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 12
  • -Received: 24
  • Posts: 230
Re: New Development: PS-5
« Reply #38 on: May 06, 2019, 02:07:30 PM »
Drove by today PS5; breath taking views

Agreed 100%. In the evening you see many people walking up there, and taking pictures of sunset. Not a bad place to live.

Offline eddieuclabruin

  • Tourist
  • *
  • Thanks
  • -Given: 0
  • -Received: 0
  • Posts: 30
Re: New Development: PS-5
« Reply #39 on: May 24, 2019, 11:30:17 AM »

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2093
  • -Received: 1663
  • Posts: 8237
  • Gender: Male
Re: New Development: PS-5
« Reply #40 on: May 24, 2019, 11:35:03 AM »
Pricing is up: Starting from the $900's
https://www.irvinepacific.com/homes/portola-springs-village/hillside/residence-1#overview

Petaluma/San Mateo clones for $900k to $1m in Portola Springs?
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline bones

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 195
  • -Received: 1088
  • Posts: 4450
Re: New Development: PS-5
« Reply #41 on: May 24, 2019, 11:35:42 AM »

The following member(s) thanked this post:


Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2093
  • -Received: 1663
  • Posts: 8237
  • Gender: Male
Re: New Development: PS-5
« Reply #42 on: May 24, 2019, 11:37:18 AM »
Pricing is up: Starting from the $900's
https://www.irvinepacific.com/homes/portola-springs-village/hillside/residence-1#overview

Petaluma/San Mateo clones for $900k to $1m in Portola Springs?

Value village no more.

The word "value" is not in Irvine Pacific's vocabulary.  haha  If CalPac is having a hard time selling Celeste & Talise I wonder how IrvinePac will do with Hillside.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline zubs

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 64
  • -Received: 360
  • Posts: 1768
Re: New Development: PS-5
« Reply #43 on: May 24, 2019, 11:43:59 AM »
So TIC is still building...this is positive news for bulls.  Didn't they delay a project back in 2009 because of how poor real estate was doing?
I think it was OH.

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2093
  • -Received: 1663
  • Posts: 8237
  • Gender: Male
Re: New Development: PS-5
« Reply #44 on: May 24, 2019, 11:48:52 AM »
So TIC is still building...this is positive news for bulls.  Didn't they delay a project back in 2009 because of how poor real estate was doing?
I think it was OH.

Well, they only have a few more pieces of land to build on so like mentioned before, they cherry picked the best part of Portola Springs to built in to extract max prices.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

 

Talk Irvine Links

[Recent Posts]
[FAQ / Rules]

Site Supporters


Related Links

Recent Posts

Re: Tesla Solar Panels Price Cut by marmott
[Today at 09:41:48 PM]


Re: How important is owner occupancy rate? by nguyener
[Today at 09:06:30 PM]


Re: Solar mandate by irvinehomeowner
[Today at 04:42:46 PM]


Re: How Life Became an Endless, Terrible Competition by Kings
[Today at 02:56:26 PM]


Re: Solar mandate by momopi
[Today at 02:18:25 PM]