Eastwood is way over priced

NewtoIrvine1 said:
OC-Broker said:
Given that the overal oc real estate market has appreciated by at least 35% since 2011, Eastwood may be priced right. Eventually, though I think all irvine builders are going to hit a rough patch in 2016 with the glut of new homes being built and the lack of foreign money trickling in.
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http://www.zillow.com/irvine-ca/home-values/

580k average sold price in irvine When San Mateo Launched in Early 2011

724k average sold price today

Up roughly ~25% by my count not quite the 39% appreciation in this type of house. With even cheaper construction material and cheap look i don't see how it command the 780k+ prices for phase 1
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The last two San Mateo Plan 1's actually sold for $785k and $789k.
 
fishfinder333 said:
Anyone notice they removed cell tower on encore? I didn't see it when driving by the other day. I'm sure it will be back up once all the homes are sold. Pretty shady if you ask me.
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They did not remove the cell tower, it is still there but it just disguise as a eucalyptus tree.  It took them several weeks to put it up and it can not be remove on a whim.

Can you spot the cell tower in the pic below? :)

 

 

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DrTravel said:
NewtoIrvine1 said:
OC-Broker said:
Given that the overal oc real estate market has appreciated by at least 35% since 2011, Eastwood may be priced right. Eventually, though I think all irvine builders are going to hit a rough patch in 2016 with the glut of new homes being built and the lack of foreign money trickling in.
Click to expand...
http://www.zillow.com/irvine-ca/home-values/

580k average sold price in irvine When San Mateo Launched in Early 2011

724k average sold price today

Up roughly ~25% by my count not quite the 39% appreciation in this type of house. With even cheaper construction material and cheap look i don't see how it command the 780k+ prices for phase 1
Click to expand...

The last two San Mateo Plan 1's actually sold for $785k and $789k.
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Jasmine Final Phases 17-18 pricing from 9/25/2015 (from SubSolar's post).

Plan 1 $774,300
Plan 2 Sold out
Plan 3 $816,300

Above pricing did not include upgrades.

Side note: I believe the California room is included in Petaluma pricing. There is a choice to extend the dining room for $$ instead of having a CA room.
 
lnc said:
fishfinder333 said:
Anyone notice they removed cell tower on encore? I didn't see it when driving by the other day. I'm sure it will be back up once all the homes are sold. Pretty shady if you ask me.
Click to expand...

They did not remove the cell tower, it is still there but it just disguise as a eucalyptus tree.  It took them several weeks to put it up and it can not be remove on a whim.

Can you spot the cell tower in the pic below? :)
Click to expand...

Not bad.. not an eye sore but some would be picky. 
 
ChasingRainbows said:
@ Inc

Did you see the models?
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No, I just drove by and take a quick peak of the new community and snap a picture of a tree, I mean a cell tower.  Also I don't think the model is open to the public until the grand opening.



 
just because you cannot afford it does not mean it is over priced. in other words if there are other people who can afford and are willing to buy, the price will be sustained.
 
This is true, so let's see how well these sell.


The California Court Company said:
just because you cannot afford it does not mean it is over priced. in other words if there are other people who can afford and are willing to buy, the price will be sustained.
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I remember when Northwood II first opened and I was flabbergasted by the prices for homes on flat land in a crowded tract.

They sold quickly.
 
irvinehomeowner said:
I remember when Northwood II first opened and I was flabbergasted by the prices for homes on flat land in a crowded tract.

They sold quickly.
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How dare you compare Northwood II to Eastwood.  How dare you.
 
aquabliss said:
irvinehomeowner said:
I remember when Northwood II first opened and I was flabbergasted by the prices for homes on flat land in a crowded tract.

They sold quickly.
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How dare you compare Northwood II to Eastwood.  How dare you.
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Actually how dare you still  call "Northwood Estates"  as "Northwood II"  ::)
 
aquabliss said:
irvinehomeowner said:
I remember when Northwood II first opened and I was flabbergasted by the prices for homes on flat land in a crowded tract.

They sold quickly.
Click to expand...

How dare you compare Northwood II to Eastwood.  How dare you.
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Isn't Northwood II across the street from Eastwood? I think it's a good comparison.
 
irvinehomeowner said:
aquabliss said:
irvinehomeowner said:
I remember when Northwood II first opened and I was flabbergasted by the prices for homes on flat land in a crowded tract.

They sold quickly.
Click to expand...

No, what's across the street from Eastwood is Trailer Park Estates.

How dare you compare Northwood II to Eastwood.  How dare you.
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Isn't Northwood II across the street from Eastwood? I think it's a good comparison.
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The realtor "guy" always say the price is right, so they can keep the job, but if you comparing to other the Eastwood is over priced.
 
That has to come with some nice upgrades... Because walk across the street to Palo Alto, price per sq ft difference is big
 
DrTravel said:
Here's Piedmont's pricing
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Jesus, I blink for a second and a tiny 2000 SF house is now over $1M?  $480/psf and I still gotta do flooring, bath upgrades, landscaping, windows, etc...
 
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