Author Topic: Azalea: New Low Cost or Investment Homes for Cypress Village  (Read 6079 times)

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Offline Dr. CA Real Estate

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #30 on: March 30, 2021, 08:14:08 PM »
When/where did they hear that? Was going to be 10k last I knew
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Offline irviniteeee

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #31 on: March 30, 2021, 09:10:46 PM »
When/where did they hear that? Was going to be 10k last I knew

I got the email today too. Here's a screenshot:

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Offline USCTrojanCPA

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #32 on: March 30, 2021, 09:54:12 PM »
When/where did they hear that? Was going to be 10k last I knew

I got the email today too. Here's a screenshot:



Yup, that's the flyer my client forward to me and they circled the no broker co-op part at the bottom.  haha  CalPac being a little greedy...brings back the 2012 days when Irvine Pac didn't want to pay broker co-ops at Laguna Altura until the market turned and the changed their minds.  haha
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Offline crownedking

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #33 on: March 30, 2021, 11:15:10 PM »
Does anyone have info on pricing?

Offline USCTrojanCPA

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #34 on: March 31, 2021, 09:21:31 AM »
Does anyone have info on pricing?

Expect $650k+
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Offline sleepy5136

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #35 on: March 31, 2021, 01:04:47 PM »
Does anyone have info on pricing?

Expect $650k+
That would mean it would start at $609 per sqft. That seems way too high for an entry level condo in Irvine.

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Offline brergnat

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #36 on: March 31, 2021, 02:50:32 PM »
Does anyone have info on pricing?

Expect $650k+

This is a joke, right? They are advertising them as being "attainably priced to make home ownership a possibility."

Anything over $500/sq foot is too high for these floorplans.
« Last Edit: March 31, 2021, 02:58:10 PM by brergnat »

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Offline USCTrojanCPA

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #37 on: March 31, 2021, 06:24:29 PM »
Does anyone have info on pricing?

Expect $650k+

This is a joke, right? They are advertising them as being "attainably priced to make home ownership a possibility."

Anything over $500/sq foot is too high for these floorplans.

It's not a joke, the market is on fire in the low end of the market plus this development has low mello roos of $1,700/yr so the builder will ask for high prices.  Look, they aren't even offering a $10k-$12k broker co-op for the condos. 
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Offline Cares

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #38 on: March 31, 2021, 07:20:05 PM »
Does anyone have info on pricing?

Expect $650k+

This is a joke, right? They are advertising them as being "attainably priced to make home ownership a possibility."

Anything over $500/sq foot is too high for these floorplans.

You may think it's too high but I guarantee you these are going to fly out the door in the early phases.

Offline anteaterscientist

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #39 on: March 31, 2021, 09:15:52 PM »
Any comments about the safety of the land from the environment standpoint?

Offline moc

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #40 on: April 01, 2021, 08:18:55 AM »
Any comments about the safety of the land from the environment standpoint?

My understanding of all of the former El Toro base land (we live in Portola Springs) is that former hazardous chemicals in the soil from jet fuel etc have been addressed and the soil is safe, just don't eat any crops grown in it. These condos will probably have patios and no yards anyway.

At least, that's what we were told when we were buying here and asked.

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Offline peregrine

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #41 on: April 01, 2021, 11:02:07 AM »
They also found out the CalPac will not be paying a broker co-op to agents.

The buyer is supposed to compensate their agent with their own funds? You think this will this lead to buyers trying to go it alone in that case (when the reality of the commission becomes very real, i.e., out of their own pocket as opposed to being formerly paid by Seller)?

Offline moc

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #42 on: April 01, 2021, 11:06:16 AM »
They also found out the CalPac will not be paying a broker co-op to agents.

The buyer is supposed to compensate their agent with their own funds? You think this will this lead to buyers trying to go it alone in that case (when the reality of the commission becomes very real, i.e., out of their own pocket as opposed to being formerly paid by Seller)?

Yes, I think so. There already feels like less of a reason to have an agent if you know you are doing new construction and if you have to pay out of pocket it's going to be harder to justify that cost. When we bought with Cal Pac they said absolutely no negotiation on price, upgrades, etc etc so if that's the case and you know all of that going in why have an agent. (I know there are still some great reasons to have someone representing you and looking out for your interests, I can just see a lot of people going that way with it).

Offline USCTrojanCPA

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #43 on: April 01, 2021, 12:17:03 PM »
They also found out the CalPac will not be paying a broker co-op to agents.

The buyer is supposed to compensate their agent with their own funds? You think this will this lead to buyers trying to go it alone in that case (when the reality of the commission becomes very real, i.e., out of their own pocket as opposed to being formerly paid by Seller)?

With no broker co-op being offered by the builder, it takes a big incentive for a buyer to use an agent because there will be no rebate to provide. 
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Offline talkirvine

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Re: Azalea: New Low Cost or Investment Homes for Cypress Village
« Reply #44 on: April 01, 2021, 01:47:41 PM »
They also found out the CalPac will not be paying a broker co-op to agents.

The buyer is supposed to compensate their agent with their own funds? You think this will this lead to buyers trying to go it alone in that case (when the reality of the commission becomes very real, i.e., out of their own pocket as opposed to being formerly paid by Seller)?

With no broker co-op being offered by the builder, it takes a big incentive for a buyer to use an agent because there will be no rebate to provide.

But do agents have any incentive to show the properties?

 

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