Author Topic: New communities in Portola Springs  (Read 7371 times)

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Offline CalBears96

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Re: New communities in Portola Springs
« Reply #30 on: November 06, 2021, 09:33:37 PM »
Lol, SFR doesn’t allow you to park your car in front of your house in Highland. You also pay $250HOA, $100 more than SFRs were built at Ceremony….

That's why some TI'er calls it "quasi" SFR. Doesn't change the fact that it's SFR.

Personally, I like it because it means my neighbors won't park their cars in front of my house during garbage days. We park both of our cars in the garage, so guests can park their cars in the driveway when they visit.

Offline Irvinehomeseeker

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Re: New communities in Portola Springs
« Reply #31 on: November 07, 2021, 01:56:35 PM »
Except for the fact that you cannot park in street front of your home, the are nice SFRs. These will be on narrow lots and so go deeper. Piedmont in EW, Como in OH look great after buildout.

Offline CalBears96

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Re: New communities in Portola Springs
« Reply #32 on: November 07, 2021, 02:09:09 PM »
Except for the fact that you cannot park in street front of your home, the are nice SFRs. These will be on narrow lots and so go deeper. Piedmont in EW, Como in OH look great after buildout.

One of the reasons we like Bluffs floorplans more than Highland floorplans is because Bluffs floorplans are more squarish. Highland homes go deeper and when you look at the home from the front, you only see one window. You see several windows on the Bluffs homes.

Offline Irvinehomeseeker

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Re: New communities in Portola Springs
« Reply #33 on: November 07, 2021, 03:19:58 PM »
Except for the fact that you cannot park in street front of your home, the are nice SFRs. These will be on narrow lots and so go deeper. Piedmont in EW, Como in OH look great after buildout.

One of the reasons we like Bluffs floorplans more than Highland floorplans is because Bluffs floorplans are more squarish. Highland homes go deeper and when you look at the home from the front, you only see one window. You see several windows on the Bluffs homes.
build out.
Back in 2016 when Piedmonts came out in EW, this was my exact observation about the front of the home. You don't get to see the full extend of the house and the front windows. The builder optimized available land through the narrow lots and streets. The good thing about Highlands over Piedmonts is high ceiling and walk in pantry  The walk in pantry is becoming rare in New IP builds...something we highly value.

Offline Davidlee199

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Re: New communities in Portola Springs
« Reply #34 on: November 07, 2021, 07:06:49 PM »
Detached Condos or Highland won’t work for families with teenagers 16 years or older and have their own cars. I don’t want to wake up my kids Saturday or Sunday early morning and tell them to move their cars parked on the driveway.  Besides, I don’t want my kids complain to me their friends stop coming to hand out with him/her at home as they can’t find a parking. 
As more true SFRs will be built at dreamcatcher,  I would rather wait. 

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Offline CalBears96

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Re: New communities in Portola Springs
« Reply #35 on: November 07, 2021, 08:38:54 PM »
Detached Condos or Highland won’t work for families with teenagers 16 years or older and have their own cars. I don’t want to wake up my kids Saturday or Sunday early morning and tell them to move their cars parked on the driveway.  Besides, I don’t want my kids complain to me their friends stop coming to hand out with him/her at home as they can’t find a parking. 
As more true SFRs will be built at dreamcatcher,  I would rather wait.

I'm pretty sure that the community at Dreamcatcher won't be true SFRs since they're IP. They'll just be Highland extension. If you want true SFRs, then you should consider CalPac's Sierra.

Offline Davidlee199

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Re: New communities in Portola Springs
« Reply #36 on: November 07, 2021, 08:44:47 PM »
Again, those true SFRs at dreamcatcher are 3000+ SF, bigger than Highland’s floor plan. wait until end of 2022 if you don’t believe me.

Offline USCTrojanCPA

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Re: New communities in Portola Springs
« Reply #37 on: November 07, 2021, 08:45:10 PM »
Detached Condos or Highland won’t work for families with teenagers 16 years or older and have their own cars. I don’t want to wake up my kids Saturday or Sunday early morning and tell them to move their cars parked on the driveway.  Besides, I don’t want my kids complain to me their friends stop coming to hand out with him/her at home as they can’t find a parking. 
As more true SFRs will be built at dreamcatcher,  I would rather wait.

I'm pretty sure that the community at Dreamcatcher won't be true SFRs since they're IP. They'll just be Highland extension. If you want true SFRs, then you should consider CalPac's Sierra.

You'll be able to tell if it's Highland by the shape of the lots...if they are rectangular then they'll be Highland or Bluffs and if they are more square then they'll be true SFR.  I can see IP building either Fresco or Ravello homes on one of the sites.
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Offline CalBears96

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Re: New communities in Portola Springs
« Reply #38 on: November 07, 2021, 09:35:43 PM »
Either way, we don't need a true SFR. Our son is going off to college next year. We're fine with either Bluffs 2 or Highland 1.

And since the price keeps going up, I'd rather buy now than wait. We've looked at Fresco floorplans and we didn't like them. Ravello homes are really great, especially plan 2, but they're probably going to be around $2M, which is out of our range. Even if they have Ravello plans 4 and 5, those are probably going to be $1.8-1.9M.

Offline Davidlee199

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Re: New communities in Portola Springs
« Reply #39 on: November 08, 2021, 08:17:01 PM »
I don’t understand why people kept saying home prices keep going up and never discussed the cause to the 2021 housing boom. It was the Federal Reserve $120 billion bond buying each month since March 2020.  It announced 11/3 last week it would slow bond purchases and stop buying bond around June 2022.  According to a Forbes article, “ Recently long-term treasury bond yields increased, and mortgage rates will gradually adjust in line with treasuries. If the Federal Reserve stops buying securities every month—which they are likely to do next year—then homes purchased today could be worth 30% less in two years’ time.”

Offline CalBears96

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Re: New communities in Portola Springs
« Reply #40 on: November 08, 2021, 09:11:20 PM »
Yeah, but there is the inventory issue here. And it will be a while until the mortgage rate actually goes up. Everyone is predicting that the price won't even start to flatten out until mid or late next year. A Goldman Sachs analyst predicted a 16% increase by the end of next year. And Toll Brothers intend to increase 1-1.5% per release phase.

So yeah, price keeps going up until at least mid next year is pretty much a fact.

Offline Compressed-Village

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Re: New communities in Portola Springs
« Reply #41 on: November 08, 2021, 09:38:25 PM »
I don’t understand why people kept saying home prices keep going up and never discussed the cause to the 2021 housing boom. It was the Federal Reserve $120 billion bond buying each month since March 2020.  It announced 11/3 last week it would slow bond purchases and stop buying bond around June 2022.  According to a Forbes article, “ Recently long-term treasury bond yields increased, and mortgage rates will gradually adjust in line with treasuries. If the Federal Reserve stops buying securities every month—which they are likely to do next year—then homes purchased today could be worth 30% less in two years’ time.”

I wish that would be the case.

Why do you think the inventory is so low?

For the past year and a half, homeowners have refied and locked into an all time low 2 % ish rate long term, like 20 years or 30. New buyers also enjoying those low rate, abeit higher prices. The demographic shift is now retire in place and die in place. Two or more generation under one roof. The lack of inventory going forward would likely keep prices elevated throughout majority of the metro area of the U.S. It could adjust dramatically if rate hit 7 or 8%. But where the direction of the FED going, they can't even raise 50 basis point before FED Chair take a big dump and pulling out any stop and raise the white flag again.

Offline Davidlee199

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Re: New communities in Portola Springs
« Reply #42 on: November 08, 2021, 09:46:37 PM »
Never trust Goldman Sachs.
“Goldman has been harshly criticized, particularly in the aftermath of the financial crisis of 2007–2008, where some alleged that it misled its investors and profited from the collapse of the mortgage market. That time — "one of the darkest chapters" in Goldman's history according to The New York Times[2] — brought investigations from the United States Congress, the United States Department of Justice, and a lawsuit from the U.S. Securities and Exchange Commission[3] that resulted in Goldman paying a $550 million settlement.[4]”

Offline USCTrojanCPA

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Re: New communities in Portola Springs
« Reply #43 on: November 08, 2021, 11:02:15 PM »
I don’t understand why people kept saying home prices keep going up and never discussed the cause to the 2021 housing boom. It was the Federal Reserve $120 billion bond buying each month since March 2020.  It announced 11/3 last week it would slow bond purchases and stop buying bond around June 2022.  According to a Forbes article, “ Recently long-term treasury bond yields increased, and mortgage rates will gradually adjust in line with treasuries. If the Federal Reserve stops buying securities every month—which they are likely to do next year—then homes purchased today could be worth 30% less in two years’ time.”

I wish that would be the case.

Why do you think the inventory is so low?

For the past year and a half, homeowners have refied and locked into an all time low 2 % ish rate long term, like 20 years or 30. New buyers also enjoying those low rate, abeit higher prices. The demographic shift is now retire in place and die in place. Two or more generation under one roof. The lack of inventory going forward would likely keep prices elevated throughout majority of the metro area of the U.S. It could adjust dramatically if rate hit 7 or 8%. But where the direction of the FED going, they can't even raise 50 basis point before FED Chair take a big dump and pulling out any stop and raise the white flag again.

The low inventory is a direct result of the huge buyer demand, not a lack of listings.  We've had more listing than every this year but because properties fly into escrow within a week there's no time for inventory levels to build up.  By the time the holidays roll around we'll have about 100 homes on the market for sale while we are selling around 300 homes a month on average this year....think about that for a second...we have 10 days of inventory of homes (and this does not include new homes which have long wait lists).  Low interest rates definitely help but I'd argue that even if interest rates went to 4% demand would still outstrip demand.  I know I'm a broken record but watch inventory levels to help determine where prices are heading.
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Offline Sysko

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Re: New communities in Portola Springs
« Reply #44 on: November 18, 2021, 05:38:04 AM »
Sales sheet from Bluffs as of 11/11/2021

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