Author Topic: 3 New California Pacific Communities in Portola Springs Late 2021  (Read 39494 times)

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Offline CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #165 on: November 27, 2021, 07:20:07 PM »
What are the prices on Lapis plans 2 and 3? I would guess the price/sq ft is a lot lower on those. They seem a lot more desirable as well at 2000+ sq ft.

Offline Portolaresident

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #166 on: November 27, 2021, 08:05:55 PM »
I'm not sure of the pricing for the other two models, I was only told the cheapest one is $850K for Lapis but in the email I received today says $875K.

Offline USCTrojanCPA

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #167 on: November 27, 2021, 08:31:51 PM »
Pricing is basically what Delano prices are but the HOA is over $500/mo on both Plan 2 & 3. 
Martin Mania, CPA
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Offline CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #168 on: November 27, 2021, 09:14:20 PM »
I think for the pricing, HOA fees and MR, I would probably go with Serrano Summit Covera over CalPac's Lapis, if I were to buy an investment property to rent out.

We looked at Soria and Toll Brothers' Meadows and decided against it because we didn't want to live in a neighborhood surrounded by commercial buildings. But if I were to rent, then the Meadows is really convenient.

We almost got on Sierra's priority list, but also decided against it because we think IP homes are higher qualify than CalPac's. So right now, we're just staying on Bluffs and Highland priority list.

We were offered Bluffs 1, but after agonizing over the decision for a couple of days, we decided that we really wanted to loft in Bluffs 2 and Highland 1, so we declined the offer. So we pretty much narrowed down our focus to Bluffs 2 and Highland 1. We prefer Highland 1 because it has driveway, but if we're offered Bluffs 2 first, then we'll take it since we can't really handle the price increase every phase.

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Offline bkimxmd

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #169 on: November 28, 2021, 07:14:36 AM »
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?

Our appt is at 1 today.  We shall see.

Offline bkimxmd

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #170 on: November 28, 2021, 04:14:45 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?

Our appt is at 1 today.  We shall see.

A plan 1 opened up.  After weighing the pros and cons we went with the plan 1. 

Offline CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #171 on: November 28, 2021, 04:52:43 PM »
A plan 1 opened up.  After weighing the pros and cons we went with the plan 1.

That's quite a bit of a downgrade, from 4 bed/4 baths + bonus room to 3 bed/2.5 baths + loft, but you save almost $200k. How are the kitchen and bathroom upgrades?

Offline bkimxmd

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #172 on: November 28, 2021, 06:37:48 PM »
A plan 1 opened up.  After weighing the pros and cons we went with the plan 1.

That's quite a bit of a downgrade, from 4 bed/4 baths + bonus room to 3 bed/2.5 baths + loft, but you save almost $200k. How are the kitchen and bathroom upgrades?

We went in thinking plan 2 all the way hopefully that 58 lot.  So when we got the call and said there was only plan 3 left we said ok.  However, today they said a person passed on the plan 1.  After walking through the 2 homes, we actually liked the plan 1 better.  The way the house faces you get more sunlight.  The backyard is bigger because it doesn’t have a bump out.  And to be honest, I couldn’t see paying 200k more for an extra room I’ll never use. 

The plan 3 was a lot smaller than what I thought.  That extra room on the first floor takes away a lot of living space.  The living space downstairs on plan 1 looks much bigger., and the loft vs the super bonus room wasn’t that much different in size either. 

But the model homes were not finished all the way and they weren’t staged so it was a little difficult.

At this point it’s only my me, my wife, and my 4yr old twins.  No other family here in California.  And I’m pretty sure this won’t be the last house we buy. 

I feel good about the decision.  My wife is happy with the options they picked out.  Quarts countertops in kitchen and master bath.  Back splash looks good.  Bathroom tiles look good.  Pocket door for bathroom.  Frameless shower.  Etc. 

All the basics covered

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Offline CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #173 on: November 28, 2021, 08:24:55 PM »
It's great that you got a house you like. I agree that if you have plans to move later, then it's not worth paying $200k for an extra room that you won't use.

Offline bkimxmd

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #174 on: November 28, 2021, 09:10:50 PM »
It's great that you got a house you like. I agree that if you have plans to move later, then it's not worth paying $200k for an extra room that you won't use.

Agreed!  Thanks.  Question though.  Anyone have any thoughts on how to title?  Community with rights of survival ship?  Not sure what’s the best way.  It’s only me and my wife plus 2 kids. 

Thanks?

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Offline USCTrojanCPA

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #175 on: November 28, 2021, 09:32:38 PM »
It's great that you got a house you like. I agree that if you have plans to move later, then it's not worth paying $200k for an extra room that you won't use.

Agreed!  Thanks.  Question though.  Anyone have any thoughts on how to title?  Community with rights of survival ship?  Not sure what’s the best way.  It’s only me and my wife plus 2 kids. 

Thanks?

Most of my married couples with kids clients take title community property with right of survivorship.  Then you may want to do a family trust (living trust) after you close because lenders won't let you take title under a trust.
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!

Offline CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #176 on: November 28, 2021, 11:01:02 PM »
It's great that you got a house you like. I agree that if you have plans to move later, then it's not worth paying $200k for an extra room that you won't use.

Agreed!  Thanks.  Question though.  Anyone have any thoughts on how to title?  Community with rights of survival ship?  Not sure what’s the best way.  It’s only me and my wife plus 2 kids. 

Thanks?

Most of my married couples with kids clients take title community property with right of survivorship.  Then you may want to do a family trust (living trust) after you close because lenders won't let you take title under a trust.

Yeah, that's how we set up our title too. My company lets us pay a small premium for legal service. One year I decided to sign up for the legal service and set up a revocable living trust. And we put the title under the trust.

Offline Prototype

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #177 on: November 29, 2021, 08:32:33 AM »
Pricing is basically what Delano prices are but the HOA is over $500/mo on both Plan 2 & 3.

Oh wow! These prices are really surprising for an attached product when you could get Hillside, Highland and Bluffs for around the same price. Shocked CalPac is getting a little greedy with the pricing, bids, crazy HOA and no broker co-op. I always considered them a good builder for Irvine and had a great experience with them buying my first home, but that was 5 years ago.

CalBears Highland and Bluffs decision seems like a great choice, IMO.

Offline bluebig

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #178 on: November 29, 2021, 09:17:17 AM »
I concur with Prototype and CalBear.  :D

CalPac seems a bit greedy relative to its peers in how they are going about selling these homes, in my humble opinion. Plus they don't offer co-ops, require home owners to lease or buy solar panel for the roof (not against this as we need more GREEN) but still they are doing this as they are getting a nice tax credit for their development, appear to be selling products that are not even complete (model homes; ie. think about buying a new car with the showcase room car being incomplete). It seems they are trying to jam it in and I'm concerned about their product quality especially as they seem to be using whatever inventory of supplies they have to fit into the homes v allowing homeowners to pick. Just seems odd, I get it we are in the environ we are in but still. Bluff and Highland in that area actually seem more appealing to me as I digest the situation at hand. IP seems to do things in a more elegant fair business like way.

Also as others pointed out seems like there are investment property purchases going on with Lapis. My experience with that has been a high churn of tenants every one to two years, especially in a city like Irvine where there are an abundant number of option albeit current dislocation.

Offline Mety

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #179 on: November 29, 2021, 10:07:58 AM »
What's up with Lapis' HOA fees? $400-$500+? They probably learned from GP. Robbing investor's money since they don't care. The only victims are the real owners who live there. Bad move. But what do I know? I'm just a guy from internet.

 

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