Author Topic: Fresco @ Eastwood Village  (Read 19296 times)

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Offline USCTrojanCPA

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Re: Fresco @ Eastwood Village
« Reply #105 on: June 24, 2021, 05:49:20 PM »
And how more new communities can we see in irvine? I guess the ones in Portola springs will be last major one right?

Beside the ongoing new tracts in the Portola Springs, OH1(Groves), OH3(Reserve) and GP, there are GP District 5 (over 3000 homes) and OH4, just north of EW with less than 300 homes proposed. 

The GP District 5 will be the last major neighborhood but southern half will be zone to Lake Forest's Saddleback Valley Unified School District.

I post some info on this topic back in 2016,

https://www.talkirvine.com/index.php/topic,14947.msg300330.html#msg300330


Once all of the new homes are sold, especially Eastwood, Orchard Hills, and Portola Springs I'd expect prices for resale homes to increase further as there will be less inventory for buyers to pick from.  Heck, if there were no new homes to soak up buyer demand today I believe that Irvine prices would be up another 5-10%.
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Offline Irvinehomeseeker

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Re: Fresco @ Eastwood Village
« Reply #106 on: October 11, 2021, 05:13:52 PM »
On the last stretch of Fresco homes in Eastwood, all are going to be the Plus plans (1+, 2+, 3+) - So they will have the Suite downstairs as standard. But, conservatory is going to be optional.  I am finding this on IP website.
It looks like buyers value the suite over the conservatory in today's market. Without the optional conservatory, the smallest Fresco home would be 2213Sqt.


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Re: Fresco @ Eastwood Village
« Reply #107 on: October 11, 2021, 07:26:50 PM »
On the last stretch of Fresco homes in Eastwood, all are going to be the Plus plans (1+, 2+, 3+) - So they will have the Suite downstairs as standard. But, conservatory is going to be optional.  I am finding this on IP website.
It looks like buyers value the suite over the conservatory in today's market. Without the optional conservatory, the smallest Fresco home would be 2213Sqt.

If I recall correctly, the Plus plan does not mean suite downstairs. It just means the downstairs room will have slightly more square footage than the non-plus.

Offline Irvinehomeseeker

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Re: Fresco @ Eastwood Village
« Reply #108 on: October 11, 2021, 07:35:29 PM »
On the last stretch of Fresco homes in Eastwood, all are going to be the Plus plans (1+, 2+, 3+) - So they will have the Suite downstairs as standard. But, conservatory is going to be optional.  I am finding this on IP website.
It looks like buyers value the suite over the conservatory in today's market. Without the optional conservatory, the smallest Fresco home would be 2213Sqt.

If I recall correctly, the Plus plan does not mean suite downstairs. It just means the downstairs room will have slightly more square footage than the non-plus.

All plus plans of Fresco have a suite downstairs. The bedroom gets a little bigger and ensuite full bath - separate  powder room outside the suite for guests.

Optional conservatory would work for plans 2+ and 3+ - there is enough space inside without conservatory. For the plan 1+, without this option the interior space in the first floor will be really less.

In original plan 1, the downstairs room was very tiny - It could only be used as an office in my opinion.

Offline Yousr

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Re: Fresco @ Eastwood Village
« Reply #109 on: October 11, 2021, 10:15:45 PM »
On the last stretch of Fresco homes in Eastwood, all are going to be the Plus plans (1+, 2+, 3+) - So they will have the Suite downstairs as standard. But, conservatory is going to be optional.  I am finding this on IP website.
It looks like buyers value the suite over the conservatory in today's market. Without the optional conservatory, the smallest Fresco home would be 2213Sqt.

I don’t think this has to do with the buyers preference or anything like it. The majority of the Fresco extension lots (starting phase 12) are about ~1000 sqft smaller than most lots on Abalone and Parakeet. With a setback of 5 ft on the new lots you barely get a shoulder’s width for a backyard, especially for plan 1 which extends deeper in the lot than the other 2 plans . So IP decided to forgo the conservatory for some breathing room in the back. But to compensate for the reduced living space, they made the first floor suite standard. Moreover, for buyers who still want a conservatory/outdoor living space, IP will charge them a 78K+ premium for that, bringing the latest phase pricing very close to the latest release on the larger lots.

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Offline Irvinehomeseeker

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Re: Fresco @ Eastwood Village
« Reply #110 on: October 11, 2021, 10:27:48 PM »
On the last stretch of Fresco homes in Eastwood, all are going to be the Plus plans (1+, 2+, 3+) - So they will have the Suite downstairs as standard. But, conservatory is going to be optional.  I am finding this on IP website.
It looks like buyers value the suite over the conservatory in today's market. Without the optional conservatory, the smallest Fresco home would be 2213Sqt.

I don’t think this has to do with the buyers preference or anything like it. The majority of the Fresco extension lots (starting phase 12) are about ~1000 sqft smaller than most lots on Abalone and Parakeet. With a setback of 5 ft on the new lots you barely get a shoulder’s width for a backyard, especially for plan 1 which extends deeper in the lot than the other 2 plans . So IP decided to forgo the conservatory for some breathing room in the back. But to compensate for the reduced living space, they made the first floor suite standard. Moreover, for buyers who still want a conservatory/outdoor living space, IP will charge them a 78K+ premium for that, bringing the latest phase pricing very close to the latest release on the larger lots.

Thank you for sharing this perspective! The 5ft offset in the back is really small. Considering that these extension lots were lots of the former Calistoga homes, which are some of the largest in EW , I thought there should have been sufficient space. But that 78K premium for Consevatory is really a lot.

Any idea how much $$ they are selling the homes on these new lots?

Offline Asumis

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Re: Fresco @ Eastwood Village
« Reply #111 on: October 11, 2021, 10:51:30 PM »
On the last stretch of Fresco homes in Eastwood, all are going to be the Plus plans (1+, 2+, 3+) - So they will have the Suite downstairs as standard. But, conservatory is going to be optional.  I am finding this on IP website.
It looks like buyers value the suite over the conservatory in today's market. Without the optional conservatory, the smallest Fresco home would be 2213Sqt.

I don’t think this has to do with the buyers preference or anything like it. The majority of the Fresco extension lots (starting phase 12) are about ~1000 sqft smaller than most lots on Abalone and Parakeet. With a setback of 5 ft on the new lots you barely get a shoulder’s width for a backyard, especially for plan 1 which extends deeper in the lot than the other 2 plans . So IP decided to forgo the conservatory for some breathing room in the back. But to compensate for the reduced living space, they made the first floor suite standard. Moreover, for buyers who still want a conservatory/outdoor living space, IP will charge them a 78K+ premium for that, bringing the latest phase pricing very close to the latest release on the larger lots.

Any idea how much $$ they are selling the homes on these new lots?

Plan 1 - 1.52M (option for conservatory)
Plan 2 - 1.744M (conservatory included)
Plan 3 - 1.762M (no option for conservatory)

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Offline Yousr

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Re: Fresco @ Eastwood Village
« Reply #112 on: October 11, 2021, 11:07:59 PM »
On the last stretch of Fresco homes in Eastwood, all are going to be the Plus plans (1+, 2+, 3+) - So they will have the Suite downstairs as standard. But, conservatory is going to be optional.  I am finding this on IP website.
It looks like buyers value the suite over the conservatory in today's market. Without the optional conservatory, the smallest Fresco home would be 2213Sqt.

I don’t think this has to do with the buyers preference or anything like it. The majority of the Fresco extension lots (starting phase 12) are about ~1000 sqft smaller than most lots on Abalone and Parakeet. With a setback of 5 ft on the new lots you barely get a shoulder’s width for a backyard, especially for plan 1 which extends deeper in the lot than the other 2 plans . So IP decided to forgo the conservatory for some breathing room in the back. But to compensate for the reduced living space, they made the first floor suite standard. Moreover, for buyers who still want a conservatory/outdoor living space, IP will charge them a 78K+ premium for that, bringing the latest phase pricing very close to the latest release on the larger lots.

Thank you for sharing this perspective! The 5ft offset in the back is really small. Considering that these extension lots were lots of the former Calistoga homes, which are some of the largest in EW , I thought there should have been sufficient space. But that 78K premium for Consevatory is really a lot.

Any idea how much $$ they are selling the homes on these new lots?

Most of the extension lots are 3900 sqft, but there will be a handful with a much larger size, in which case a conservatory should be an obvious choice.

They are offering plan 1 for $1.52M, plan 2 for 1.744M (price includes optional conservatory), and plan 3 for 1.762 M. Seems like plan 2 is the best suited to tack on a conservatory in this tight space while leaving some room in the back

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Offline affluent

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Re: Fresco @ Eastwood Village
« Reply #113 on: October 13, 2021, 12:20:39 PM »
If someone gets on the priority list today for Fresco@ Eastwood, how soon they can reserve a home?

Online CalBears96

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Re: Fresco @ Eastwood Village
« Reply #114 on: October 13, 2021, 01:15:41 PM »
If someone gets on the priority list today for Fresco@ Eastwood, how soon they can reserve a home?
Probably months, maybe even more than a year. Or probably even not at all.
« Last Edit: October 13, 2021, 02:36:45 PM by CalBears96 »

Offline Irvinehomeseeker

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Re: Fresco @ Eastwood Village
« Reply #115 on: October 13, 2021, 04:10:07 PM »
If someone gets on the priority list today for Fresco@ Eastwood, how soon they can reserve a home?
Probably months, maybe even more than a year. Or probably even not at all.

Unless things have radically changed in the last 3 months, I have seen some folks get called for Fresco in EW within 1 or 2 releases of getting on the list. The plan 2 and 3 are most popular ones, but one could have a good chance at plan 1. Also, sometimes if you visit the sales office 1-2 days after a Release and if ones above you passed it up , then you may get offered the home that is still waiting for a buyer.

Online CalBears96

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Re: Fresco @ Eastwood Village
« Reply #116 on: October 13, 2021, 04:22:35 PM »
Unless things have radically changed in the last 3 months, I have seen some folks get called for Fresco in EW within 1 or 2 releases of getting on the list. The plan 2 and 3 are most popular ones, but one could have a good chance at plan 1. Also, sometimes if you visit the sales office 1-2 days after a Release and if ones above you passed it up , then you may get offered the home that is still waiting for a buyer.

Really? I thought Eastwood was more popular than Portola Springs. The lists for Bluffs and Highland are really long. There has been two phases since I got on the lists and those homes are sold quickly. They never get outside of priority list. I'm still waiting for a call from either one.

Offline Mety

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Re: Fresco @ Eastwood Village
« Reply #117 on: October 14, 2021, 09:46:28 AM »
Let me tell you guys a secret. Well, it's not really a secret since many people know already.

The key to get a call from them (any new homes) is that you show you are really serious about buying there. Go to the model office often. Show your face and get to know them. Show your willingness to put your money right now. Tell them you would really love to have that lot. No matter what the "wait list" numbers are, you would get a call from them sooner than you thought. They can call whoever they want to call. There is no waitlist to be honest. Believe or not, most people on the waitlist are NOT willing to proceed once they get a call so your true genuine interest and willingness to buy will count when it comes to them calling who first.

Offline Irvinehomeseeker

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Re: Fresco @ Eastwood Village
« Reply #118 on: October 14, 2021, 10:20:36 AM »
Let me tell you guys a secret. Well, it's not really a secret since many people know already.

The key to get a call from them (any new homes) is that you show you are really serious about buying there. Go to the model office often. Show your face and get to know them. Show your willingness to put your money right now. Tell them you would really love to have that lot. No matter what the "wait list" numbers are, you would get a call from them sooner than you thought. They can call whoever they want to call. There is no waitlist to be honest. Believe or not, most people on the waitlist are NOT willing to proceed once they get a call so your true genuine interest and willingness to buy will count when it comes to them calling who first.

I agree with above. I was able to get Petaluma back in 2018 following this - it was totally unexpected since I had reserved and backed out multiple time, which meant they would have put me down in the list as they say. But when I was serious, I met with the sales a couple of times and i got a call in the next release.

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Re: Fresco @ Eastwood Village
« Reply #119 on: October 14, 2021, 11:04:31 AM »
Let me tell you guys a secret. Well, it's not really a secret since many people know already.

The key to get a call from them (any new homes) is that you show you are really serious about buying there. Go to the model office often. Show your face and get to know them. Show your willingness to put your money right now. Tell them you would really love to have that lot. No matter what the "wait list" numbers are, you would get a call from them sooner than you thought. They can call whoever they want to call. There is no waitlist to be honest. Believe or not, most people on the waitlist are NOT willing to proceed once they get a call so your true genuine interest and willingness to buy will count when it comes to them calling who first.

Well, I did all of that (unknowingly), actually. Once we looked at Bluffs, my wife fell in love with Portola Springs, and we really like the IP floor plans. So the next week, we decided to look at Highland and Hillside to increase our chance at Portola Springs, and I called Bluffs for another look at their models. And I told them (all 3) how much we love the IP homes. We actually love the IP floorplans. And we were telling them how anxious my wife was about not being able to get one of their homes. I guess we probably should go there a couple more times to show them how much we love their homes.  ;D

But from the tone of the sales consultants at Bluffs and Highland, they will go down the priority list for each phase. I don't know how much truth there is in that, but that's what we were told.

Also, it seems like in every phase release, the homes go quickly, so there seems to be strong interest in Bluffs and Highland homes, so I'm not sure if the tactic would work.
« Last Edit: October 14, 2021, 11:32:13 AM by CalBears96 »

 

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