Author Topic: 3 New California Pacific Communities in Portola Springs Late 2021  (Read 38667 times)

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Offline sleepy5136

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #180 on: November 29, 2021, 10:49:15 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.
Someone can correct me if I'm wrong but the state of CA is requiring solar panels on all new homes. So it's not a builder or greed thing. I think this was in effect starting this year or last year.

I feel like all builders are greedy besides Shea homes TBH. Lennar Amara (SFH) pricing went from 1m in January 2021 to now 1.4-1.6m.

Offline bwpunch

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #181 on: November 29, 2021, 11:02:33 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.
Someone can correct me if I'm wrong but the state of CA is requiring solar panels on all new homes. So it's not a builder or greed thing. I think this was in effect starting this year or last year.

I feel like all builders are greedy besides Shea homes TBH. Lennar Amara (SFH) pricing went from 1m in January 2021 to now 1.4-1.6m.

Yes, Solar panel is required on new construction started in 2020 as stated in Assembly Bill 178.  http://www.calsolarinc.com/solar-requirements-for-commercial-and-residential-development-in-california/.
The biggest downside about this is that the builders will choose the solar company and the amount of the panel that they suggest.  House buyers cannot shop around for better solar installation deal elsewhere, and they probably can't even go with different systems with the same solar company.  Builders definitely would like to stay with their solar installer vendor, so the escrow would not be delayed.

Offline CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #182 on: November 29, 2021, 11:39:10 AM »
Someone can correct me if I'm wrong but the state of CA is requiring solar panels on all new homes. So it's not a builder or greed thing. I think this was in effect starting this year or last year.

I feel like all builders are greedy besides Shea homes TBH. Lennar Amara (SFH) pricing went from 1m in January 2021 to now 1.4-1.6m.

Yes, Solar panel is required on new construction started in 2020 as stated in Assembly Bill 178.  http://www.calsolarinc.com/solar-requirements-for-commercial-and-residential-development-in-california/.
The biggest downside about this is that the builders will choose the solar company and the amount of the panel that they suggest.  House buyers cannot shop around for better solar installation deal elsewhere, and they probably can't even go with different systems with the same solar company.  Builders definitely would like to stay with their solar installer vendor, so the escrow would not be delayed.

It's really strange. Bluffs sales lady told me that solar panels is not an option for the phase releases since September (or even before that since it was in September when I asked about solar panels). They were an option before then.

As for Highland, it is an option, but they only do 10 panels. If you need more, then you have to add them after construction.

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #183 on: November 29, 2021, 11:39:54 AM »
I'm not following this thread but from a quick skim... is USC's dad moving from Las Vegas to Irvine/Portola Springs?

And remember when people were saying on TI not to buy in ~2018? And now prices are markedly higher and everyone is okay with buying now?

Crazy.

Is this a "stable bubble"? Is it because people saw prices go up during a pandemic that real estate is even more entrenched as a safe haven (that or Telsa stock or Bitcoin :) ).?
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Offline zubs

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #184 on: November 29, 2021, 12:48:18 PM »
In 2018, a friend bought a $480,000 3 bedroom townhouse in eastvale.
In 2019, it went down to $460,000
Today it is $600,000.


And that 600,000 is an easy sell.

Offline Yousr

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #185 on: November 29, 2021, 08:24:20 PM »
Regarding the solar panels, they have no choice. CA passed a solar mandate in 2020. Solar panels are part of the code now for all new builds, they must comply to pass inspection.

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 CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #186 on: November 29, 2021, 09:17:09 PM »
Regarding the solar panels, they have no choice. CA passed a solar mandate in 2020. Solar panels are part of the code now for all new builds, they must comply to pass inspection.

I wonder how Bluffs homes are exempted from this mandate then. I guess I'll need to ask the sales lady next time I talk to her.

Offline USCTrojanCPA

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #187 on: November 30, 2021, 12:18:32 AM »
I'm not following this thread but from a quick skim... is USC's dad moving from Las Vegas to Irvine/Portola Springs?

And remember when people were saying on TI not to buy in ~2018? And now prices are markedly higher and everyone is okay with buying now?

Crazy.

Is this a "stable bubble"? Is it because people saw prices go up during a pandemic that real estate is even more entrenched as a safe haven (that or Telsa stock or Bitcoin :) ).?

Yup, he's buying in Portola Springs....a foreign cash buyer no less.  haha
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Offline USCTrojanCPA

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #188 on: November 30, 2021, 12:19:20 AM »
Regarding the solar panels, they have no choice. CA passed a solar mandate in 2020. Solar panels are part of the code now for all new builds, they must comply to pass inspection.

I wonder how Bluffs homes are exempted from this mandate then. I guess I'll need to ask the sales lady next time I talk to her.

The law only applies to homes where construction has started after 2020 in the entire development. 
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Offline CalBears96

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #189 on: November 30, 2021, 12:52:17 AM »
Regarding the solar panels, they have no choice. CA passed a solar mandate in 2020. Solar panels are part of the code now for all new builds, they must comply to pass inspection.

I wonder how Bluffs homes are exempted from this mandate then. I guess I'll need to ask the sales lady next time I talk to her.

The law only applies to homes where construction has started after 2020 in the entire development.

I was thinking that might be the case, not the home itself, but the entire development. I still would like to have the solar panels, so I hope Highland calls first.  ;D I do prefer Highland 1 over Bluffs 2 anyway, although we'll take whichever makes the offer first.

Offline NotAnEarlyBird

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #190 on: November 30, 2021, 10:01:59 AM »
Will they ever build a non-toll road to connect Sierra to Foothill Ranch (In-and_Out area) without going through Irvine Blvd?

Offline irviniteeee

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #191 on: November 30, 2021, 10:50:59 AM »
Will they ever build a non-toll road to connect Sierra to Foothill Ranch (In-and_Out area) without going through Irvine Blvd?

Probably not. Last I saw, neither city was committed to extending Portola all the way through. They don't want to infringe on the Toll Roads and their fees. Maybe now that there's so much development up there they will rethink the decision. I wouldn't hold my breath though.

Offline irviniteeee

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #192 on: November 30, 2021, 10:52:14 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.

Yeah I'm shocked as well. California Pacific was always one of the fairer homebuilders in Irvine. Their HOAs and prices have tended to be relatively reasonable compared to the competition. I guess that's changed.

Offline USCTrojanCPA

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #193 on: November 30, 2021, 11:15:39 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.

Yeah I'm shocked as well. California Pacific was always one of the fairer homebuilders in Irvine. Their HOAs and prices have tended to be relatively reasonable compared to the competition. I guess that's changed.

The builder has no impact on the HOA monthly fees. CalPac is trying to maximize their profits because they see how low inventory levels are. If their homes aren't selling, they'll adjust prices accordingly.
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Offline Danimal

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Re: 3 New California Pacific Communities in Portola Springs Late 2021
« Reply #194 on: November 30, 2021, 11:25:11 AM »
Will they ever build a non-toll road to connect Sierra to Foothill Ranch (In-and_Out area) without going through Irvine Blvd?

Trust me you dont want them building the road connecting Portola to Lake Forest if you plan to buy a home in PS.  Traffic will be a lot more thus more dusts and road noises.

 

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