Laguna Altura homes

pixie122

New member
My husband I visited Siena at Laguna Altura today and was disappointed with what we saw.  I thought their houses were over priced for sq ft.  With bad economy and people worrying for potential double dip recession, TIC doesn't seem to want to give enough incentive for people who can afford to buy.  Back yard space is a joke and the houses are so close.  Its not like theres LACK OF LAND or a need for gate or a gate guard!  Its Irvine for crying out loud!! its bad enough with mellow roos as is, why $300 in HOA in a small residential community?  We have been to Woodbury, Portola Spring, Central Park West, Laguna Altura, and Ainsley Park in Columbus Grove.  The model homes are great but we haven't found that "This is it" house. 

- The one we like the most is model 3 in Ainsley Park but the train noise really gets me, I don't think i should have to pay that much to live next to train tracks.  From the people that live there, how bad is the train noise?
- Siena at Laguna Altura- $605,000 for 1600 sq ft / $ 300 HOA + 1.6 tax=$968.  No thank you! I would have to be stupid to pay additional $1000 beyond my mortgage payment.
- Woodbury - way too dense that we worry about resale value, too much competition.
- Portola Spring - Our friend bought a house there and they say that they can smell garbage from the landfill early morning and regret buying it there.
- Central Park West- Must I state the obvious? urban living in irvine for $700,000 townhomes??

As much as I hate it, I also love living in Irvine but we're looking into going out of Irvine and potentially looking at homes in Costa Mesa with Newport High school district as well.

Any advice, comments, or recommendations would be greatly appreciated!!

 
What is your budget range I guess is the first question? I'm assuming Northpark and Quail Hill are too high since you didn't mention those neighborhoods.
 
Obviously lower the better but 500~600.  I didn't like Quail Hills because their detached home are 550 for 1300~1400 sq ft.  My apartment is bigger than that.
 
We haven't gone outside of Irvine before because we both work Irvine and hate to spend time traffic.  So sad but we live the cultish Irvine city motto of "Live, Work, Play Irvine."

How is Stonegate community?  Does anyone know anything Orchard Hills? 
 
test said:
Have you looked at Mirabella?  It's close to Irvine without the cult.
http://www.talkirvine.com/index.php?topic=1170.0

Some of the floor plans are nice, namely Plan 3-  just be aware that the HOA/MR are MORE than Laguna Altura.  But on a $/sqft basis, the base prices are less...they have that going for them.  Something to think about.

I would definitely look into Aliso Viejo.  Newish homes, very low Mello Roos, and master planned feel.  Example:
http://www.redfin.com/CA/Aliso-Viejo/23-Edmonton-Pl-92656/home/5593976

 
I also find it distressing that PS residents can smell garbage from the dump.  I mean beyond the potential environmental issues, that's just gross.
 
I think all have determined, as that at close as it may be, Quail Hill is a better location than LA.  I'm not sure what it will be like 10-15 yrs from now, but that's what it is today.  I don't mind the location or the 133 or what not, but it should be on the lighter side of mid 300's per foot.  $300 for a guard gated community is a bit high, but many suspected it'd be about that.  Northpark is definitely more attractive, but the gates are subsidized by a much larger neighboorhood.  Some people like the fact that LA is a small enclave of less than 600 homes.  The neighboorhood is all detached condos and homes and no apartments.  That being said, yes the Mello is high, there are only 2 parks, and its off a freeway.  I'm not sure anyone would want the area to be exapanded.  Its already bordered by the 405/133/Lake Forest Dr extension and also flanked by the Verizon Amp/ Wild Rivers (soon to be apts). 

Plan 1 (currently $855 base or ~$360/ft)
@ 340:  809K
@ 325:  774K
@ 300:  714K

Plan 2 (currently $960 base or ~$353/ft)
@340:  925K
@325:  884K
@300:  816K

I don't control the markets so I can't say at what price I think these homes will clear at.  If you ask IndiDev, he'd probably tell you these homes are worth about $250/ft (or maybe less).  Fundamentals and $2 will get you a cup of coffee at Starbucks.  Let's hope that overall prices start gravitating towards the $300/ft mark.  There have been several sales in nearby Oak Creek that have closed under $300/ft. 

If you want a NEW house, and a nice yard, and low Mello and HOA with a budget of $500-600K than you may be barking up the wrong tree...    If you want to go older, then you can check out the El Camino and Greentree areas of Irvine.  Otherwise, I'd steer you to Yorba Linda (I'm not sure if the Preserves are still selling).  You can get a new 2000+sq ft home in the 600's.  Schools are decent.  If you want your kids to (ultimately) go to the new Yorba Linda high, then check out Amalfi Hills.  Almafi has HOAs but I don't think there is any Mellos.  When it comes to RE, you can't have your cake and eat it to.  There are ALOT of people out there who want to buy, but are holding out for lower prices in desired areas.  Many people in my age bracket (30-39) are looking at purchasing SFRs today.  I just ran into an old classmate who is moving back to Irvine from downtown LA many moons later because of the schools and his children.  In general, Irvine will maintain higher prices than other areas to the north, east and south. 
 
I heard from the sales reps at San Mateo that Laguna Altura (Toscana) sold 4 homes this past week after price adjustment. Does anyone know if this is true and if so, what was the price adjustment?  Thanks!!
 
kalbi,
I actually compared the price of quick-move-in homes and their original listing price from opening day(matching the exact home sites) last night; based on my memory:
Toscona - about $100k drop in price
Cortona - about $90k less
San Remo - about $30k less
Sienna - about $50k less
 
I didn't hear of any recent price adjustment.  I thought it was a bit before that.  But I think it has been moving better than before. 

I do know that Cortona still isn't moving very fast, except their plan 1 which is all sold right now.  They have plan 2's and 3's in the current phase still available (2 2's and 3 3's...)  Plan 1 starts at $855 for 2380 sq ft, plan 2 is $960K at 2719 sq ft, plan 3 is over $1M for 2951 sq ft...  I'd be interested if prices were closer to $325/ft.

The way it sounds, is that iPac is going to be patient.  The phases won't be coming out very quickly.  Current phase is scheduled for 3/2012 move in.  They haven't even released phase 3, which would scheduled for mid 2012 completion.  In comparison to other new developments, this seems considerably slower - take Las Ventanas for instance. 
 
i got an email from laguna altura. they are going to start a contingent sale program.  sounds like sales are great!
 
akim997 said:
i got an email from laguna altura. they are going to start a contingent sale program.  sounds like sales are great!

what's the contingent sale program? for people who have to sell their homes in order to buy another one?
 
akim997 said:
i got an email from laguna altura. they are going to start a contingent sale program.  sounds like sales are great!
So does that mean that one of those TIC sales agents will sell your home for no commission if you buy one of the Laguna Altura homes?
 
LA pricings fall into a move up buyer catagory. Buyers likely have outgrown their detached condo or townhouse. Since these buyers have their money tied up in equity TIC might have a method to allow the sellers to save 6% like buying a car by using a trade-in old car program as a form of down payment.
 
Just got a spam email from our friends at TIC for a Siena home.  Looks like they are offer FREE BACKYARD landscaping for 43 Bianco which is completed and ready for move-in.  I'm sensing a bit of desperation. 

Hey TIC, how about you guys drop the price again???  That might help out sales more than some free landscaping in the backyard.
 
It is the cosmetic strategy. Keep prices up at $200 per 1/2 once but give away free bag, lip stick, perfume, mascara, and lotion. Once price go down it will take a long time to recover. Giving away free gift is just another trick that benefit the seller.
 
Hey now that FHA limits are back up to $729 and change, you can pick up a LA home for 3.5% down again.

 
One pot, one sprinkler head and one shrub and we are about to run out of room.
USCTrojanCPA said:
Just got a spam email from our friends at TIC for a Siena home.  Looks like they are offer FREE BACKYARD landscaping for 43 Bianco which is completed and ready for move-in.  I'm sensing a bit of desperation. 

Hey TIC, how about you guys drop the price again???  That might help out sales more than some free landscaping in the backyard.
 
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