Author Topic: 3 New California Pacific Communities in Portola Springs Late 2021  (Read 22914 times)

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Offline CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #150 on: November 22, 2021, 02:47:53 PM »
The price will increase with every phase. At least until the end of next year. I don't see it staying flat. Across from Sierra are IP's condos and detached condos.

The true SFRs are on either side of Dreamcatcher, but those are going to be very expensive. They're from 2700+ to 3500+ sq ft. I'm expecting the larger homes (left of Dreamcatcher) to be Ravello plans 1-3, since they're 3200+ to 3500+ sq ft homes. Not sure about the smaller ones. Could be Ravello plans 4-5.

Of course, all of the above is just my opinion, not fact.

Offline USCTrojanCPA

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #151 on: November 22, 2021, 03:03:00 PM »
****update

We were just offered lot 60.  That was our 4th choice.  Load of the shoulders now.

yes we were there Saturday morning at 11:30. 

Our first choice was 58. 

Then 77, 76, and 60.  I'm not sure if the plan 1's are a good choice.  But who knows how much the prices will go up in the next phases... 

Congrats on picking up a Plan 3.
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Offline Ready2Downsize

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #152 on: November 22, 2021, 03:10:18 PM »
I've decided to pass on this Phase I, think pricing should be consistent for new phases in the future given future supplies coming online... ESPECIALLY w/ the homes Irvine Pacific is bringing to the other side of where Sierra is in the near future... I like their product a bit more, plus co-op available.  One thing about Phase 1 I didn't like as much is that it's next to the only single road into the community which should be pretty congested according to a civil engineering friend. It's a high foot traffic and high volume road, likely a prime target for Amazon thefts  :-[  especially on the homes with their door facing the street...PLUS the drilling and construction around phase 1 will be pretty lengthy, loud, and not much of a good air to breath for awhile so I passed.

Redfin shows 70 houses (excludes condos, townhomes) built between 2015-2020 (which would exclude new) for sale in Orange County. (20 for Irvine).

Builders would have to build a lot to cut into the demand/supply issue imo.


Offline bluebig

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #153 on: November 22, 2021, 03:34:05 PM »
Understand supply / demand issue, not saying that will change tomorrow, it will get better as things normalize under this new environment. Good info on that the other side of Sierra may be condos / my inclination w/ condo's has been that higher % of folks that buy often rent them out which causes a lot of in/out tenants every few years. To me, based on opinion only and not facts as other have pointed out, the future phases/right side of that map seem more appealing.  Also if they allow parking on Birdeye street that could make things more congested. I wish there were better alternatives 8) but hats off to those that pulled the trigger.  Based on convo w/ the sales office, i don't think I was the only one that decided to pass on phase 1.  :o

Offline foodisgood

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #154 on: November 22, 2021, 03:57:31 PM »
hi all,

long time lurker here. congrats to those that picked up a lot.
just wondering for those that were able to reserve, what day did your prequalification come in?
we were invited this past weekend, but unfortunately got a call this afternoon that all the homes were accounted for.

Offline bkimxmd

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #155 on: November 22, 2021, 04:03:34 PM »
They wouldn't tell me what # I was on the list, but i'm sure a good amount of people passed.  Martin post about his dad getting the call was at 11:24 and I didn't get the call till 1:11. 

When they called, both plan 2's and the end unit plan 3 were already taken.  I didn't ask about the plan 1's. 


Also, I'm sure many on the list may have been turned off that the homes were pre optioned out except for the floors, epoxy coating, and window treatments.

One good thing is it looks like we are going to be able to tour the model homes this weekend before we finalize.  It'll be nice to see what we are getting instead of just looking at floor plans and lot locations. 

I went in thinking that maybe the plan 1's were going to be over 1.5M due to the sq ft, but I was pleasantly surprised by the pricing.  Definitely not cheap, but lesser expensive than the Highland's current pricing.  Who knows how much more the Hillsides, Bluff, and Highlands are going to keep going up with each phase.  Scary stuff.   

Feel pretty bad to the realtor that took us around to sign up for the IP models and placed several offers on resales for us this past month.
« Last Edit: November 22, 2021, 04:20:22 PM by bkimxmd »

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Offline USCTrojanCPA

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #156 on: November 22, 2021, 05:51:19 PM »
hi all,

long time lurker here. congrats to those that picked up a lot.
just wondering for those that were able to reserve, what day did your prequalification come in?
we were invited this past weekend, but unfortunately got a call this afternoon that all the homes were accounted for.


My dad sent in his proof of funds Monday morning (Nov. 1st) and was #2 on the list.  I dropped off his check at the sales office and found out that the #1 buyer passed waiting for a larger lot Plan 3 in a later phase so my dad was the first one to reserve a lot.  Apparently just able every buyer that they called asked about lot 58, Robin told them it's very unlikely that my dad will change his mind.
Martin Mania, CPA
AgencyOne
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CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

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Offline CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #157 on: November 22, 2021, 05:51:21 PM »
Also, I'm sure many on the list may have been turned off that the homes were pre optioned out except for the floors, epoxy coating, and window treatments.

I went in thinking that maybe the plan 1's were going to be over 1.5M due to the sq ft, but I was pleasantly surprised by the pricing.  Definitely not cheap, but lesser expensive than the Highland's current pricing.  Who knows how much more the Hillsides, Bluff, and Highlands are going to keep going up with each phase.  Scary stuff.   

Feel pretty bad to the realtor that took us around to sign up for the IP models and placed several offers on resales for us this past month.

We decided to not go through with pre-qual, but even if we got on priority list, we would have drop off right away due to pre options. The two places that are most important to my wife for her to choose the upgrades are kitchen and baths, so that's a definite turn off.

I'm not sure if you could compare Sierra plan 1 to Highland plan 1, though, since Highland 1 is comparable to Sierra 3 in terms of sq ft. Also, the current price of Highland is due to privacy view and bigger lots, 4400 sq ft for Highland 1. Next release will go to smaller lots, 3588 sq ft, and the going price is going to be around 1.52M for Highland 1.

But as many have pointed out, Sierra is true SFRs while Highland is "quasi" SFRs.

Anyway, congrats on getting plan 3.

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Offline USCTrojanCPA

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #158 on: November 22, 2021, 05:57:53 PM »
They wouldn't tell me what # I was on the list, but i'm sure a good amount of people passed.  Martin post about his dad getting the call was at 11:24 and I didn't get the call till 1:11. 

When they called, both plan 2's and the end unit plan 3 were already taken.  I didn't ask about the plan 1's. 


Also, I'm sure many on the list may have been turned off that the homes were pre optioned out except for the floors, epoxy coating, and window treatments.

One good thing is it looks like we are going to be able to tour the model homes this weekend before we finalize.  It'll be nice to see what we are getting instead of just looking at floor plans and lot locations. 

I went in thinking that maybe the plan 1's were going to be over 1.5M due to the sq ft, but I was pleasantly surprised by the pricing.  Definitely not cheap, but lesser expensive than the Highland's current pricing.  Who knows how much more the Hillsides, Bluff, and Highlands are going to keep going up with each phase.  Scary stuff.   

Feel pretty bad to the realtor that took us around to sign up for the IP models and placed several offers on resales for us this past month.

Yeah, I was pleasantly surprised on the base pricing for the Plan 2 which was around $1.46m (lower than Highland Plan 1).  That $60k lot premium for lot 58 was fairly reasonable because a few of my buyers got larger Highland lots with no neighbors in the back and those lot premiums were $80k-$95k.
Martin Mania, CPA
AgencyOne
CA DRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

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Offline foodisgood

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #159 on: November 22, 2021, 10:54:58 PM »
hi all,

long time lurker here. congrats to those that picked up a lot.
just wondering for those that were able to reserve, what day did your prequalification come in?
we were invited this past weekend, but unfortunately got a call this afternoon that all the homes were accounted for.


My dad sent in his proof of funds Monday morning (Nov. 1st) and was #2 on the list.  I dropped off his check at the sales office and found out that the #1 buyer passed waiting for a larger lot Plan 3 in a later phase so my dad was the first one to reserve a lot.  Apparently just able every buyer that they called asked about lot 58, Robin told them it's very unlikely that my dad will change his mind.

Ahh I see. We prequalified on November 8. I knew the interest list was forming but we were waffling back and forth. Next time sign up and decide later lol.

We got our rejection call at 1:24pm so shortly after bkim.

Offline CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #160 on: November 22, 2021, 11:16:52 PM »
Ahh I see. We prequalified on November 8. I knew the interest list was forming but we were waffling back and forth. Next time sign up and decide later lol.

We got our rejection call at 1:24pm so shortly after bkim.

Yeah, it doesn't hurt to sign up early and decide later. I filled out the pre-qual on November 1st as well, but I decided to pass when they asked for financial statements.

Offline bkimxmd

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #161 on: November 23, 2021, 09:17:14 PM »
hi all,

long time lurker here. congrats to those that picked up a lot.
just wondering for those that were able to reserve, what day did your prequalification come in?
we were invited this past weekend, but unfortunately got a call this afternoon that all the homes were accounted for.


My dad sent in his proof of funds Monday morning (Nov. 1st) and was #2 on the list.  I dropped off his check at the sales office and found out that the #1 buyer passed waiting for a larger lot Plan 3 in a later phase so my dad was the first one to reserve a lot.  Apparently just able every buyer that they called asked about lot 58, Robin told them it's very unlikely that my dad will change his mind.

Ahh I see. We prequalified on November 8. I knew the interest list was forming but we were waffling back and forth. Next time sign up and decide later lol.

We got our rejection call at 1:24pm so shortly after bkim.

I also got the prequalification done on the 8th. 

Offline bkimxmd

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #162 on: November 27, 2021, 05:42:44 PM »
Hey Martin,

Did your father go and sign up today?  Get to see the model homes?

Offline CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #163 on: November 27, 2021, 06:01:21 PM »
Hey Martin,

Did your father go and sign up today?  Get to see the model homes?

Martin is visiting his dad in Vegas. He's probably going in next week.

Did you get the see the model homes? How do they look? Is plan 3 to your liking?

Offline Portolaresident

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #164 on: November 27, 2021, 06:52:59 PM »
Hi All,

I have been following Portola Springs real estate and talk Irvine forums for awhile but have never posted before.  I currently own a condo in Portola Springs and I've been looking to buy another condo as an investment and was pre-authorized by LoanDepot (Calpac preferred lender) for Lapis model-1, but I am shocked by the asking price @ 875,000.00 for 1172 sqft.  I was wondering what justifies such a price? if the asking price is correct they are asking $746/sq ft for a tiny town house probably located in the worst part of Portola Springs.  Would this even be a right decision as an investment property? Thank you

 

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