Cielo million dollar price drops

NEW -> Contingent Buyer Assistance Program
CalBears96 said:
Yes, they tried to bank in on the $1M view lot premium like Olivewood did. The problem for Cielo is that their view lots were released at the wrong time. Way too late.
Click to expand...
Same problem with the Sierra. All they have now are the $3M view lots that nobody wants.
 
CalBears96 said:
Mid $2M for non view lots. The mountain view lots were only about $100k more. Those sold out quickly while some non view were sitting there for a few months.
Click to expand...
I thought they all sold out instantly. They closed the interest list on like the first week. I would have bought there if I could...
 
Builders tend to leave the view lots in the last phase because they tend to increase price whenever possible prior to the last phase to maximize on the base market value + lot premium amount. It works well in a neutral and sellers market, but not when it's a buyers market.
 
vchoi said:
I thought they all sold out instantly. They closed the interest list on like the first week. I would have bought there if I could...
Click to expand...
I was referring to the original phase 1 by Irvine Pacific. But yes, the restart first few phases sold out immediately. We were lucky to be able to grab a home in the Shea phase 1. It turned out that Shea didn’t really raise prices in phase 2, only about $10-$20k, while New Home Company went crazy with Olivewood and raised prices by $200-$500k.

Azul reaped the benefits because it drove buyers to them since Olivewood prices went crazy and Cielo priority list was closed.
 
irvinehomeowner said:
Wow... TIC company with different floorplans?

I am so out of the new home landscape... what happened to Irvine Pacific?
Click to expand...
I think they are no longer building new homes and instead are selling the lots to builders. When each home closes, they take a commission off the final sale price
 
You must log in or register to reply here.
Back
Top