Author Topic: No new sales in Great Park  (Read 2334 times)

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Offline USCTrojanCPA

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Re: No new sales in Great Park
« Reply #15 on: April 19, 2020, 08:24:00 pm »
I would definitely have you and/or your agent start the communication of your concerns with the builder. It's very early in the process so it's doubtful that the builder will reduce the price BUT where the builder may have flexibility is with credits (design center and/or closing costs). The builder will look at the market and their current sales/wait list in determining in what they will be willing to offer you, if anything. Builders will be more reluctant to give away much in the lower end of the market as homes are moving in that price range. Goal is to get to a win-win situation where everyone feels good. Good luck and keep us posted.

Thank you Martin! That is helpful to know. I did express concern naturally as all of this went down after deposit was made and they were confident that the market at the time would hold up. If I’d come across this board sooner I wouldn’t have made the mistake of signing in with an agent :-) When I asked mid-March if I could get some sort of credit because I wasn’t working with an agent I was denied.

To those saying I have a case to get my deposit I lose my job, I can confirm that yes, that was mentioned in the (already!) numerous papers I signed. It also says that they have the right to increase or decrease the purchase price before closing.

My question is specifically if builders were lowering prices in 2008 when prices dropped significantly. My thought is that it would be a win win if they came partway down between the purchase price of pre and post downturn, since it would allow builders to retain an existing buyer and not have to find another one in a market in which it would’ve been challenging.

Do you mind telling us which development you are buying in?  Irvine Pacific tends to be very inflexible, CalPac is a bit more flexible than Irvine Pacific, Richmond American is more flexible, and KB Homes is the most flexible of the Portola Springs builders.
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Online Dr. CA Real Estate

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Re: No new sales in Great Park
« Reply #16 on: April 20, 2020, 02:08:00 am »
KB homes currently offering advertising almost 100k off some of their floor plans in Irvine and Im getting clients more off on top of that
« Last Edit: April 20, 2020, 10:55:04 pm by Dr. CA Real Estate »
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Offline PSbuyer

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Re: No new sales in Great Park
« Reply #17 on: April 20, 2020, 07:52:37 pm »
I’m purchasing from Cal Pacific.  I tried looking at KB homes site but not clear, are discounts on immediately available homes or was this a cut on new releases?

Offline iacrenter

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Re: No new sales in Great Park
« Reply #18 on: April 21, 2020, 09:48:03 am »
KB homes currently offering advertising almost 100k off some of their floor plans in Irvine and Im getting clients more off on top of that

Curious, which KB tract/floor plans are being discounted?

Offline irvinehomeowner

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Re: No new sales in Great Park
« Reply #19 on: April 21, 2020, 10:10:00 am »
I’m purchasing from Cal Pacific.  I tried looking at KB homes site but not clear, are discounts on immediately available homes or was this a cut on new releases?

You will have a better chance on available inventory. Those were what I had negotiated on in the past.
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Offline USCTrojanCPA

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Re: No new sales in Great Park
« Reply #20 on: April 22, 2020, 09:44:28 am »
KB homes currently offering advertising almost 100k off some of their floor plans in Irvine and Im getting clients more off on top of that

Curious, which KB tract/floor plans are being discounted?

Most likely standing inventory Elderberry homes is my guess.
Martin Mania, CPA
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