Author Topic: Ravello at OH Groves  (Read 9481 times)

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Offline Irvinehomeseeker

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Re: Ravello at OH Groves
« Reply #30 on: July 22, 2021, 04:05:31 PM »
so reserve is not much of a gated community, i guess if down the road it will be, then that's fine.

i think it's not just ravello jacking up the prices, even for como, right now the ask is plan 2 around 1.62-1.64.

i guess it is worth it if you want to be a more private, gated/not gated community, iusd.
Builders know that they will get buyers given the demand. So they will continue to increase prices. I read somewhere  on this forum that builders have a better pulse on state of market and will price accordingly. Irvine Pacific in particular will continue to hold the line with their priced since they own the land and know they can sell.
« Last Edit: July 25, 2021, 08:38:16 PM by Irvinehomeseeker »

Offline mythicquest

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Re: Ravello at OH Groves
« Reply #31 on: July 25, 2021, 08:24:22 PM »
They’re almost through phase 1. Phase 2 is releasing soon, next 6 homesites on Coal Mine.

Offline Irvinehomeseeker

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Re: Ravello at OH Groves
« Reply #32 on: July 25, 2021, 08:45:35 PM »
If you like it, best to buy in initial phases. IP prices for Fresco in EW for entry level plan 1 have increased from 1.425 M to 1.50 M between Jan of this year to now.  The folks who bought back in Jan and may not even gotten posession of their new house have earned over 100K in equity gain in 6 months. Market is crazy!!

Buying in initial phases is something I always aim for but I get deterred by the initial high price. I get on the priority list during opening but wait it out since i am unsure.  After 5-6 phases, the initial price looks like a bargain! Thats how it has been price wise since 2012 that I have been watching new builds in Irvine.
« Last Edit: July 25, 2021, 08:51:09 PM by Irvinehomeseeker »

Offline Slevinkelevra

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Re: Ravello at OH Groves
« Reply #33 on: July 26, 2021, 08:05:14 AM »
I completely agree early phases are best for value.  2 small items that lend itself towards later phases are sometimes there are better lots available and the builder has also replaced poor quality sub-vendors in the later phases if those items make any difference to a potential buyer.  In our development the builder instructed the framing company to fire the foreman and most of his crew.  There was a day and night difference in the framing quality with that change.  They also changed vendors for all of the hardware (door locks, hinges, etc.).

Offline mythicquest

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Re: Ravello at OH Groves
« Reply #34 on: July 26, 2021, 05:39:34 PM »
Definitely agree with you guys on early phases for the built in value. However, I think looking at phase price increases in the last year are not representative of a typical situation given the extreme rise in general housing prices over the past 6 months. We know that Cetara has had massive price increases in the recent phases, but how much is that is just from following the general market real estate trend?

We've also seen IPAC release several phases with nearly stagnant pricing. Early Lago and Verdi come to mind in recent history when pricing was nearly identical through several phases. Sure, they've been usually the detached condos or smaller SFRs, but my sense right now is that the priority list for Ravello is not long. If the buildout continues but the list isn't growing to match, and general real estate market pricing somewhat stabilizes/flattens, then I could also see these Ravello prices stay fairly stable through several phases too, at least early on in the release cycle.

« Last Edit: July 26, 2021, 07:38:26 PM by mythicquest »

Offline mythicquest

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Re: Ravello at OH Groves
« Reply #35 on: July 26, 2021, 05:44:15 PM »
.
« Last Edit: July 26, 2021, 05:57:54 PM by mythicquest »

Offline mythicquest

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Re: Ravello at OH Groves
« Reply #36 on: July 26, 2021, 05:57:42 PM »
Phase 2 homesites. No pricing yet.

Offline Slevinkelevra

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Re: Ravello at OH Groves
« Reply #37 on: July 26, 2021, 08:27:05 PM »
I got the sense that the Priority list is not that long with Ravello as well but I also feel that IP priority list is somewhat subjective to the people working there.  I stopped by last week and had a completely different reaction from the sales associate (whom I had not dealt with before) than the prior sales associates that I had dealings with.  I believe someone mentioned that previously about IP lists as well.  I did find out there was a $55,000 increase on one of the smaller plans from the last phase to the current phase in the Reserve.  We did not get called yet and I didn’t pay super close attention to the increase on the larger versions...

Offline trematix

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Re: Ravello at OH Groves
« Reply #38 on: July 27, 2021, 04:43:03 PM »
Definitely agree with you guys on early phases for the built in value. However, I think looking at phase price increases in the last year are not representative of a typical situation given the extreme rise in general housing prices over the past 6 months. We know that Cetara has had massive price increases in the recent phases, but how much is that is just from following the general market real estate trend?

We've also seen IPAC release several phases with nearly stagnant pricing. Early Lago and Verdi come to mind in recent history when pricing was nearly identical through several phases. Sure, they've been usually the detached condos or smaller SFRs, but my sense right now is that the priority list for Ravello is not long. If the buildout continues but the list isn't growing to match, and general real estate market pricing somewhat stabilizes/flattens, then I could also see these Ravello prices stay fairly stable through several phases too, at least early on in the release cycle.

Spoke to Ravello, phase 1 hasnt sold out yet.


Offline mythicquest

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Re: Ravello at OH Groves
« Reply #39 on: July 27, 2021, 04:58:43 PM »
It ain't easy selling new houses >$600/sf lol

Offline trematix

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Re: Ravello at OH Groves
« Reply #40 on: July 27, 2021, 10:31:42 PM »
It ain't easy selling new houses >$600/sf lol

LOL truth.

Offline mythicquest

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Re: Ravello at OH Groves
« Reply #41 on: July 27, 2021, 11:09:21 PM »
I wonder what iPac will do if it REALLY stagnates. Are they going to just sit tight, hold the line, and just wait it out?

I can only think of one time they lowered the price, and that was pre-release of the original Ravello going from 1.8 to 1.7.

Offline trematix

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Re: Ravello at OH Groves
« Reply #42 on: July 27, 2021, 11:27:10 PM »
I wonder what iPac will do if it REALLY stagnates. Are they going to just sit tight, hold the line, and just wait it out?

I can only think of one time they lowered the price, and that was pre-release of the original Ravello going from 1.8 to 1.7.

yea will be interesting to see and im assuming they took over those Genoa lots. I'm guessing more ravello or something else?

Offline Slevinkelevra

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Re: Ravello at OH Groves
« Reply #43 on: July 29, 2021, 08:46:27 AM »
If the market slows IP's extremely low cost of land will allow them to sit as long as they need to, or offer some builder incentives to move homes. They had a development in Newport Coast 2007 - 2008 and sat on the unsold properties for a lengthy period of time before prices came back.

Offline iacrenter

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Re: Ravello at OH Groves
« Reply #44 on: July 30, 2021, 02:51:31 PM »
TIC has deep pockets and long time lines. They sat on Orchard Hills development for years with no homes. The shopping center opened in June 2007. By 2012 all the major streets were complete, the land was graded, and the guard houses were in. Homes didn't start selling until 2014.

 

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