Author Topic: Serrano Summit | Lake Forest  (Read 5904 times)

0 Members and 1 Guest are viewing this topic.

Online Dr. CA Real Estate

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 16
  • -Received: 47
  • Posts: 323
Re: Serrano Summit | Lake Forest
« Reply #15 on: August 09, 2020, 07:49:42 PM »
Incentives in this neighborhood have increased. The vIew lots for their top offering are quite good
Kris Mendoza
Platinum Realty
CA BRE License # 02085321
ariesmail1@yahoo.com
310-227-1434 cell

Offline Cares

  • Real Estate Broker & Mortgage Loan Originator
  • O.C. Resident
  • ***
  • Thanks
  • -Given: 9
  • -Received: 165
  • Posts: 850
Re: Serrano Summit | Lake Forest
« Reply #16 on: August 10, 2020, 04:43:00 AM »
They are charging $50k premium for a view lot. But you don't get much of a view to be honest.

Offline best_potsticker_in_town

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 3
  • -Received: 93
  • Posts: 394
Re: Serrano Summit | Lake Forest
« Reply #17 on: August 10, 2020, 08:59:47 AM »
Incentives in this neighborhood have increased. The vIew lots for their top offering are quite good

Soria? Amara? Or Both?
Incentives for buyers, agents, or both?

They are charging $50k premium for a view lot. But you don't get much of a view to be honest.

$50k is not bad...the Lake Forest discount lol. Irvine Pacific is charging 2x or 3x that for view lots in Portola Springs.
Use my referral link to receive 1,000 free Supercharger miles with the purchase and delivery of a new Tesla car, or earn a $100 award after system activation by purchasing or subscribing to solar panels:

https://ts.la/jonathan28387

Online Dr. CA Real Estate

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 16
  • -Received: 47
  • Posts: 323
Re: Serrano Summit | Lake Forest
« Reply #18 on: August 10, 2020, 09:17:21 AM »
Ya I was about to say 50k is nothing. TIC is planning 1m lot premiums over at Ravello for homes on the same row as their models.
Kris Mendoza
Platinum Realty
CA BRE License # 02085321
ariesmail1@yahoo.com
310-227-1434 cell

Offline marmott

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 32
  • -Received: 73
  • Posts: 335
Re: Serrano Summit | Lake Forest
« Reply #19 on: August 10, 2020, 10:59:11 AM »
$50k is not bad...the Lake Forest discount lol. Irvine Pacific is charging 2x or 3x that for view lots in Portola Springs.

I'm pretty sure it's a lot more than that even in PS.

Offline Cares

  • Real Estate Broker & Mortgage Loan Originator
  • O.C. Resident
  • ***
  • Thanks
  • -Given: 9
  • -Received: 165
  • Posts: 850
Re: Serrano Summit | Lake Forest
« Reply #20 on: August 10, 2020, 12:07:50 PM »
I realize $50k is nothing. But you're paying to really get nothing. The view isn't all that great in Castellon (detached condos $900-$1.1m)

Online Dr. CA Real Estate

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 16
  • -Received: 47
  • Posts: 323
Re: Serrano Summit | Lake Forest
« Reply #21 on: August 10, 2020, 03:32:42 PM »
It’s all relative I suppose. I’ve been on those lots and I would argue the views are quite decent on their Amara view sites.
Kris Mendoza
Platinum Realty
CA BRE License # 02085321
ariesmail1@yahoo.com
310-227-1434 cell

Offline Mety

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 210
  • -Received: 261
  • Posts: 2430
Re: Serrano Summit | Lake Forest
« Reply #22 on: January 13, 2021, 09:23:34 AM »
I'm seeing some first buyers getting into this hood lately for those 3-level condos. No MR for this community especially in the current low interest rates, it might make you want to buy here.

I personally would still look at newer Irvine communities like Eastwood, Stonegate, or Cypress Village. They don't carry that much MR. It's just my personal opinion so no right or wrong here.


Offline sleepy5136

  • Tourist
  • *
  • Thanks
  • -Given: 2
  • -Received: 7
  • Posts: 93
Re: Serrano Summit | Lake Forest
« Reply #23 on: January 20, 2021, 07:13:05 PM »
I'm seeing some first buyers getting into this hood lately for those 3-level condos. No MR for this community especially in the current low interest rates, it might make you want to buy here.

I personally would still look at newer Irvine communities like Eastwood, Stonegate, or Cypress Village. They don't carry that much MR. It's just my personal opinion so no right or wrong here.

Problem with the lower end of Irvine is the following:

1. Mello roos (high or low its a tax and extra money out of your pocket)
2. relative high HOA. difficult to justify mello roos + medium to high HOA
3. bidding wars
4. lower end price points require some sort of renovation/repairs that needs to be done in order for it to look more modern. why buy resale in that case when you can get something new for roughly the same price?

Everyone is different and has their own preferences. In this market, it really sucks being a first time home buyer and I cannot justify paying a premium just to be in Irvine. Especially when I do not have kids and do not plan on taking advantage of the school district. I'm literally 10-15 minutes from Irvine should I need to go there as well. In the end, the question people have to ask is if the Irvine premium really worth it? That will differ for everyone but for me, its not.

Offline Cares

  • Real Estate Broker & Mortgage Loan Originator
  • O.C. Resident
  • ***
  • Thanks
  • -Given: 9
  • -Received: 165
  • Posts: 850
Re: Serrano Summit | Lake Forest
« Reply #24 on: January 21, 2021, 02:37:20 AM »
I'm seeing some first buyers getting into this hood lately for those 3-level condos. No MR for this community especially in the current low interest rates, it might make you want to buy here.

I personally would still look at newer Irvine communities like Eastwood, Stonegate, or Cypress Village. They don't carry that much MR. It's just my personal opinion so no right or wrong here.

Problem with the lower end of Irvine is the following:

1. Mello roos (high or low its a tax and extra money out of your pocket)
2. relative high HOA. difficult to justify mello roos + medium to high HOA
3. bidding wars
4. lower end price points require some sort of renovation/repairs that needs to be done in order for it to look more modern. why buy resale in that case when you can get something new for roughly the same price?

Everyone is different and has their own preferences. In this market, it really sucks being a first time home buyer and I cannot justify paying a premium just to be in Irvine. Especially when I do not have kids and do not plan on taking advantage of the school district. I'm literally 10-15 minutes from Irvine should I need to go there as well. In the end, the question people have to ask is if the Irvine premium really worth it? That will differ for everyone but for me, its not.

Buyers also treat Irvine as a long term investment and not solely for the utility of the zip code. Appreciate will be stronger in Irvine vs Lake Forest undoubtedly and likewise depreciation/recession will have less of an impact.

Offline Mety

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 210
  • -Received: 261
  • Posts: 2430
Re: Serrano Summit | Lake Forest
« Reply #25 on: January 21, 2021, 09:31:20 AM »
I'm seeing some first buyers getting into this hood lately for those 3-level condos. No MR for this community especially in the current low interest rates, it might make you want to buy here.

I personally would still look at newer Irvine communities like Eastwood, Stonegate, or Cypress Village. They don't carry that much MR. It's just my personal opinion so no right or wrong here.

Problem with the lower end of Irvine is the following:

1. Mello roos (high or low its a tax and extra money out of your pocket)
2. relative high HOA. difficult to justify mello roos + medium to high HOA
3. bidding wars
4. lower end price points require some sort of renovation/repairs that needs to be done in order for it to look more modern. why buy resale in that case when you can get something new for roughly the same price?

Everyone is different and has their own preferences. In this market, it really sucks being a first time home buyer and I cannot justify paying a premium just to be in Irvine. Especially when I do not have kids and do not plan on taking advantage of the school district. I'm literally 10-15 minutes from Irvine should I need to go there as well. In the end, the question people have to ask is if the Irvine premium really worth it? That will differ for everyone but for me, its not.

Buyers also treat Irvine as a long term investment and not solely for the utility of the zip code. Appreciate will be stronger in Irvine vs Lake Forest undoubtedly and likewise depreciation/recession will have less of an impact.

If you're single or don't have kids yet, then yeah you don't have to live in Irvine. Although like Cares said Irvine will give you more appreciation long or even short term.

People are ok with less appreciation which I get, but the issue is bigger when there is recession or depreciation. While other cities would most likely get hammered, Irvine would get hit less. This is problematic especially if you have to sell your home. Well, that's historically true so far, but we never know the future. Not only about the ROI, but Irvine is a better location with close access to everything you need including groceries, plazas, and even freeways. Overall, Irvine's premium price tag does pay off IMHO. Although I'm not so sure with Great Park's MR... ;)

Anyways, owning a home is a better choice whether in Irvine or Lake Forest especially for a long term since rental money is gone while you're paying yourself in a way on your home with principal pays and tax advantages. So congrats on your first home!

Offline eyephone

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 481
  • -Received: 755
  • Posts: 13630
Re: Serrano Summit | Lake Forest
« Reply #26 on: January 21, 2021, 09:54:46 AM »
I'm seeing some first buyers getting into this hood lately for those 3-level condos. No MR for this community especially in the current low interest rates, it might make you want to buy here.

I personally would still look at newer Irvine communities like Eastwood, Stonegate, or Cypress Village. They don't carry that much MR. It's just my personal opinion so no right or wrong here.

Problem with the lower end of Irvine is the following:

1. Mello roos (high or low its a tax and extra money out of your pocket)
2. relative high HOA. difficult to justify mello roos + medium to high HOA
3. bidding wars
4. lower end price points require some sort of renovation/repairs that needs to be done in order for it to look more modern. why buy resale in that case when you can get something new for roughly the same price?

Everyone is different and has their own preferences. In this market, it really sucks being a first time home buyer and I cannot justify paying a premium just to be in Irvine. Especially when I do not have kids and do not plan on taking advantage of the school district. I'm literally 10-15 minutes from Irvine should I need to go there as well. In the end, the question people have to ask is if the Irvine premium really worth it? That will differ for everyone but for me, its not.

Idk. Buy what you can afford.

The following member(s) thanked this post:


Offline irvinehomeowner

  • The Unicorn Hunter
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2629
  • -Received: 3969
  • Posts: 22847
  • 3CWG
Re: Serrano Summit | Lake Forest
« Reply #27 on: January 21, 2021, 12:22:15 PM »
Idk. Buy what you can afford.

Hey... heard that before from someone else. :)
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 eyephone

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 481
  • -Received: 755
  • Posts: 13630
Re: Serrano Summit | Lake Forest
« Reply #28 on: January 21, 2021, 12:54:35 PM »
Idk. Buy what you can afford.

Hey... heard that before from someone else. :)

 :)

Offline wakeywakey92

  • Newbie
  • Thanks
  • -Given: 0
  • -Received: 0
  • Posts: 1
Re: Serrano Summit | Lake Forest
« Reply #29 on: February 19, 2021, 01:19:32 PM »
Hi all, first time homebuyer.  Am considering this community (Amara Residence 2 to be specific) but wanted to see if anyone had any feedback on build quality of Lennar homes, been getting a lot of mixed reviews online.

Also considered getting a Shea Homes, does anyone have any knowledge between the build quality of the two difference builders?  Thanks!

 

Talk Irvine Links

[Recent Posts]
[FAQ / Rules]

Site Supporters


Recent Posts

SimplePortal 2.3.7 © 2008-2021, SimplePortal