Fresco @ Eastwood Village

[Irvine9]

Makes sense. Around 1.4 to 1.5 mil, there lot of homes in stonegate too that have more than 3000 sqft and also bigger lots. And more importantly, they come with some upgrades.  Let's wait till 24th and see how IP would price these.

If any one could get pricing details before 24th, please post here

[fly]

resd1 1.25M
resd2 1.35M
Resd3 1.40M
resd3x 1.45M

I am guessing

[Irvine9]

You were right... It is starting from 1.4 mil

Model 1 - 1.4
Model 2 - 1.5

[Irvinehomeseeker]

Wow....new homes are getting extremely price. A 2275 sqt one at 1.4 million base.

[Dr. CA Real Estate]

Wow....new homes are getting extremely price. A 2275 sqt one at 1.4 million base.

Its IP

[Irvine9]

Yes, IP was able to sell everything so far... And they can hold on till they find right customer.

[Sidehussle]

https://www.irvinepacific.com/homes/eastwood-village/fresco?&utm_medium=email&utm_source=ip_consumer_lead_fresco&utm_campaign=ip_consumer_fresco_mar_10.20.20#overview

Smallest residence 1 with 2,277 sq ft starting from $1.4 millions. Didn't know Eastwood would be pricing > $612 per foot, wow! 

What pandemic recession?!

[Irvinehomeseeker]

Most folks must have anticipated the smallest residence 1 to start at high 1.2 million or low 1.3 million. But IP knows it can sell and another thing is, rates are also so low now. I plan to go take a look , next door to where I live.

[USCTrojanCPA]

Wow, $600/sf with no upgrades and landscaping...that's higher than Orchard Hills.  I guess iPac thinks it can sell the homes at that price since they are selling their Portola Springs homes over $500/sf since this is Eastwood. The inventory levels in the middle market are also starting to shrink so maybe they are going to see if people are willing to pay higher prices.

[Leaf]

In 2017, Belvedere Plan 1 (approx 2,400 sqft) was selling for a starting price of $1.1 million. Calistoga plan 1 (approx. 3,000 sqft.) was starting from $1.3 million and the sales were so bad that William Lyons sold the remaining lots to IP.

Now starting from $1.4 million for houses less than 2,300 sqft??  IP certainly is confident! 

[Irvine9]

Heard that Solano was not doing that great and still in phase 2. Let's see if Irvine Pacific would be able to sell these at this price.

[Irvinehomeseeker]

If IP is still able to get oversees Chinese investors to buy, then 1.4 mil for 2300 sf will sell......I think IP has brand name there.

[cgs37]

Heard that Solano was not doing that great and still in phase 2. Let's see if Irvine Pacific would be able to sell these at this price.

Was over at Solano this past weekend and they’re selling phase 3 currently. All layouts around 3000sqft for 1.4M.

I’m not really familiar with the reputation etc, but why is a smaller home from IP cost as much? I know the Fresco locations are better, but still?

[JadedOne]

That is ridiculous pricing for a home that small imo. It has the Irvine schools and is new, but otherwise I think most people would buy elsewhere. $600+/sqft is a different level of pricing and just doesn't seem worth it.

[Irvine9]

Yes, at that price point 1.4  or 1.5 mil, you can get lot of homes with around 3000 sqft  in stonegate or Northwood and those include good upgrades too. Even east wood have Solano and Napa at same price point but has much bigger homes.

May be IP got little bit greedy here. Or they are confident on their may  marketing skills to sell it.