Author Topic: New communities in Portola Springs  (Read 59251 times)

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Offline Danimal

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Re: New communities in Portola Springs
« Reply #330 on: June 14, 2022, 09:48:02 AM »
I heard from my wife that 117 Poppyseed, which is supposed to close escrow early July, is planning to rent out at $6,000 also. Pisses me off that so many investors are buying Bluffs.

From my observation so far, the 6 homes in Fresco including mine that just closed escrow are home owners. I guess investors are more focusing on condos vs sfh.

Offline USCTrojanCPA

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Re: New communities in Portola Springs
« Reply #331 on: June 14, 2022, 09:59:50 AM »
My dad closed on his home yesterday.  We'll be doing flooring, garage epoxy, and window coverings in the coming month.

Martin, did your dad move in to his new home?  How does he like the built quality?
Have you seen the 3 Hillside homes on Plum Lily nearest Highland Park.  Would these 3 homes be considered SFH?

Actually my dad ended up selling the home to one of my long-term clients as we have a lot of family members in Ukraine and eastern Polish and he wanted that money to help out the family members who have been displaced by the war and has been in Poland for several months.  We did a home inspection on the home and there were numerous fit/finish items that the builder has been addressing but nothing major.  Those Hillside homes are detached condos, not single family homes despite what Irvine Pacific may want to call them.

Allow me to Monday morning QB a bit here. I had my doubts your dad would ever move in - why would he want to live in Portola Springs? I thought he would rent it out but I guess good for cal bears he didn’t 😁

To be closer to me, duh.  ;)
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Offline USCTrojanCPA

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Re: New communities in Portola Springs
« Reply #332 on: June 14, 2022, 10:00:42 AM »
I heard from my wife that 117 Poppyseed, which is supposed to close escrow early July, is planning to rent out at $6,000 also. Pisses me off that so many investors are buying Bluffs.

From my observation so far, the 6 homes in Fresco including mine that just closed escrow are home owners. I guess investors are more focusing on condos vs sfh.

Well, larger $2m SFRs don't really make for good rentals. 
Martin Mania, CPA
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Offline irvinehomeowner

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Re: New communities in Portola Springs
« Reply #333 on: June 14, 2022, 10:21:04 AM »
Wait... so USCDad is going to stay in Vegas?

I'm losing track of the USC family tree. :)
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Offline Danimal

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Re: New communities in Portola Springs
« Reply #334 on: June 14, 2022, 10:46:05 AM »
We went over to our new home today because we had washer/dryer delivery. Also moved in some smaller things. We found out from the neighbor next to us that the buyer across from us is planning to rent out his Bluffs 2 for $6,000. And when we went out for lunch, we saw "Open House" sign at the neighbor diagonal from us.

When we got back from lunch, we talked to the realtor. She told us that the buyer just bought in OH, so they're selling their Bluffs 1. So they bought it for $1.438M, which came with about $6k pre-selected upgrades. Then, they only upgraded flooring in kitchen, great room, and hallway to what looks like LVP. They didn't even have the decency of upgrading flooring in bedroom 4 (downstairs), also. It was really ugly seeing LVP meet carpet.

Anyway, according to the realtor, listing price is $1.8M. That seems VERY ridiculous to me considering the Bluffs 1 (same lot size) that IP just released went for $1.747M. I mean, I would understand if the buyer did it 3-4 months ago before the interest rate jumped and buyer interest hasn't waned, but $1.8M for a condo right now?  ;D

I have 3 words for that realtor....NOT GONNA HAPPEN!  Having nice tasteful upgraded along with good staging go a long way in all kinds of markets, including one of that's cooling off. 

Is it this listing?

https://www.redfin.com/CA/Irvine/124-Poppyseed-92618/home/179805481

That staging is HORRIBLE, either do it right or don't do it at all.  And I love the written description, I would be fuming if I were the seller for this kind of effort on my realtor's part.  But yeah, this one will sit for a while until the price comes down.

Yup, that's the one, Martin. My house is the one on the right side, in the back.  ;D

You're right about the staging. I was extremely unimpressed with it. Also, in the listing, it says lot size is 3000 sq ft, but that's FAR from the truth. The lot size for this house is 2633 sq ft. My wife was joking just now that she rounded it up to 3000 sq ft since it's larger than 2500.  ;D


Your house is on youtube…sort of 😀


Offline CalBears96

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Re: New communities in Portola Springs
« Reply #335 on: June 14, 2022, 10:54:14 AM »
We went over to our new home today because we had washer/dryer delivery. Also moved in some smaller things. We found out from the neighbor next to us that the buyer across from us is planning to rent out his Bluffs 2 for $6,000. And when we went out for lunch, we saw "Open House" sign at the neighbor diagonal from us.

When we got back from lunch, we talked to the realtor. She told us that the buyer just bought in OH, so they're selling their Bluffs 1. So they bought it for $1.438M, which came with about $6k pre-selected upgrades. Then, they only upgraded flooring in kitchen, great room, and hallway to what looks like LVP. They didn't even have the decency of upgrading flooring in bedroom 4 (downstairs), also. It was really ugly seeing LVP meet carpet.

Anyway, according to the realtor, listing price is $1.8M. That seems VERY ridiculous to me considering the Bluffs 1 (same lot size) that IP just released went for $1.747M. I mean, I would understand if the buyer did it 3-4 months ago before the interest rate jumped and buyer interest hasn't waned, but $1.8M for a condo right now?  ;D

I have 3 words for that realtor....NOT GONNA HAPPEN!  Having nice tasteful upgraded along with good staging go a long way in all kinds of markets, including one of that's cooling off. 

Is it this listing?

https://www.redfin.com/CA/Irvine/124-Poppyseed-92618/home/179805481

That staging is HORRIBLE, either do it right or don't do it at all.  And I love the written description, I would be fuming if I were the seller for this kind of effort on my realtor's part.  But yeah, this one will sit for a while until the price comes down.

Yup, that's the one, Martin. My house is the one on the right side, in the back.  ;D

You're right about the staging. I was extremely unimpressed with it. Also, in the listing, it says lot size is 3000 sq ft, but that's FAR from the truth. The lot size for this house is 2633 sq ft. My wife was joking just now that she rounded it up to 3000 sq ft since it's larger than 2500.  ;D


Your house is on youtube…sort of 😀


Yeah, you can kind of see it.  ;D

Offline CalBears96

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Re: New communities in Portola Springs
« Reply #336 on: June 14, 2022, 11:03:21 AM »
My dad closed on his home yesterday.  We'll be doing flooring, garage epoxy, and window coverings in the coming month.

Martin, did your dad move in to his new home?  How does he like the built quality?
Have you seen the 3 Hillside homes on Plum Lily nearest Highland Park.  Would these 3 homes be considered SFH?

Actually my dad ended up selling the home to one of my long-term clients as we have a lot of family members in Ukraine and eastern Polish and he wanted that money to help out the family members who have been displaced by the war and has been in Poland for several months.  We did a home inspection on the home and there were numerous fit/finish items that the builder has been addressing but nothing major.  Those Hillside homes are detached condos, not single family homes despite what Irvine Pacific may want to call them.

Allow me to Monday morning QB a bit here. I had my doubts your dad would ever move in - why would he want to live in Portola Springs? I thought he would rent it out but I guess good for cal bears he didn’t 😁

Nah, Sierra is pretty far away. I only care about renters at Bluffs, especially around my house.

From my experience as landlord, tenants tend to not give a shit about the condition of the house. Each time the tenants moved out I had to spend more than $10k on repairs and renovations. The last tenants only lived there 4 years and really messed up my carpet, so I have to replace it again.

But I guess with HoA taking care of exterior maintenance, it may not look bad. Mainly, I just care about how the neighborhood looks.

Offline Davidlee199

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Re: New communities in Portola Springs
« Reply #337 on: June 21, 2022, 09:19:22 AM »
More Highland & Bluffs buyers backed out from their contracts recently on July move in homes.  Inventory will skyrocket on both new homes and resales once 3 new communities open in Portola springs.

Offline foodisgood

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Re: New communities in Portola Springs
« Reply #338 on: June 21, 2022, 10:43:04 AM »
More Highland & Bluffs buyers backed out from their contracts recently on July move in homes.  Inventory will skyrocket on both new homes and resales once 3 new communities open in Portola springs.

How do you know? Are the houses being relisted on price sheets? Can you share?

Offline CalBears96

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Re: New communities in Portola Springs
« Reply #339 on: June 21, 2022, 11:26:04 AM »
More Highland & Bluffs buyers backed out from their contracts recently on July move in homes.  Inventory will skyrocket on both new homes and resales once 3 new communities open in Portola springs.

How do you know? Are the houses being relisted on price sheets? Can you share?

He's lying. If you back out of your contract for any reason, you lose the $40k deposit for Bluffs and $45k deposit for Highland. Buyers would be better off just flipping the homes as the price went up $150k to $200k since the purchased it.

And he's talking about of his ass about inventory skyrocketing on new homes. IP is releasing 4 homes per month. Even considering 3 communities, that's 12 homes per month.

Is Davidlee another LL alt?

I just got the price sheet for Bluffs phase 30B on Sunday. Sales lady didn't mention anything about July move-in being back in the market.

I know that one of the July move-in is going to be rented out.

Offline foodisgood

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Re: New communities in Portola Springs
« Reply #340 on: June 21, 2022, 01:49:39 PM »
Yeah it seems unlikely because if one was going to close in July, probably would have locked a decent rate 3-6 months ago. I wanted to give him a chance to provide some evidence though.
David’s posts have all the same theme…LOL

Offline Davidlee199

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Re: New communities in Portola Springs
« Reply #341 on: June 21, 2022, 02:23:52 PM »
Lol! Calbear is upset as he bought at the peak and don’t want to cancel and lose his $40k deposit.  We will find out how many move in ready homes are available in August as end of July is builder’s semi annual sales cutoff. Builder doesn’t want  to release those move in ready homes until all other homes are closed by 7/30.

Offline CalBears96

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Re: New communities in Portola Springs
« Reply #342 on: June 21, 2022, 03:19:25 PM »
Lol! Calbear is upset as he bought at the peak and don’t want to cancel and lose his $40k deposit.  We will find out how many move in ready homes are available in August as end of July is builder’s semi annual sales cutoff. Builder doesn’t want  to release those move in ready homes until all other homes are closed by 7/30.

Davidlee, you're REALLY REALLY dumb. I bought at $1.48M base price and the base price is now $1.805M, moron.

You're the dumbass who missed out and now you're desperately trying to spread lies.

Offline CalBears96

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Re: New communities in Portola Springs
« Reply #343 on: June 21, 2022, 03:25:29 PM »
Yeah it seems unlikely because if one was going to close in July, probably would have locked a decent rate 3-6 months ago. I wanted to give him a chance to provide some evidence though.
David’s posts have all the same theme…LOL

I put down deposit on 12/18, locked rate at 2.875% early March, and closed escrow on 5/27. The base price of my Bluffs was $1.48M and the base price on latest Bluffs 2 release was $1.805M.

But that butthurt Davidlee claims that I bought at peak. What a moron. Lmao

Offline Yousr

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Re: New communities in Portola Springs
« Reply #344 on: June 21, 2022, 10:01:21 PM »
Lol! Calbear is upset as he bought at the peak and don’t want to cancel and lose his $40k deposit.  We will find out how many move in ready homes are available in August as end of July is builder’s semi annual sales cutoff. Builder doesn’t want  to release those move in ready homes until all other homes are closed by 7/30.

It’s not just the 40k. They lose any deposits made towards structural or design center upgrades, which can easily be another 20-40k. The only reason for a buyer who bought 6-7 months to fall out of escrow is if they couldn’t get approved for a loan, and even then IP would much rather work something out with the buyer ( buy down the rate or provide closing credits) rather than relist a home back on the market with someone else’s upgrade and the associated bad publicity

 

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