Alsio Viejo Shea Vantis Lattitude North/South

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Anyone have any updates on this property for the month of March?

I see they are still at 400K, Shea seems determined to hold that price.
 
Aren't Irvinites on the terrorist watch list?

Anything over $400K for that sized property in OC outside of NB and Irvine seems way overpriced IMO. But hey, I thought oil at $140 was high too, so what do I know.
 
icey said:
Anyone have any updates on this property for the month of March?

I see they are still at 400K, Shea seems determined to hold that price.
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I came back to ask the same question! So I haven't checked recently but I've been looking at these over a year and they price seem not to drop even a penny based on what they are asking? or do I somehow need to find the actual sales prices trend on these properties?

Thanks
 
actually the prices have dropped. i remember the plan 2 for latitudes north was $517K in 12/07, dropped to $460 in 3/08 and the last phase sold for $419 back in november. I don't know what the price of the next phase will be.
 
I visited the Latitudes sales office again this weekend to walk the largest unit one more time and thought I'd share my experience.

I had emailed one of their sales agents with a question about two weeks ago. I received no response whatsoever. Interestingly enough, that same sales agent was working when I arrived this weekend. Within a minute of us talking, he asked if we had any questions and it came up that I had emailed him with no response. He did not try to offer an apology of any sort, but simply said "oh yeah... we're pretty busy". Ok... I'm in sales and I would never say that to someone. Basically telling them that I could care less.

Secondly, in the middle of talking about their newest units, I asked what the prices were for these units. He was visibly confused by my question and retorted with "yeah... and the price is not negotiable". Apparently, I'm the idiot and didn't realize how amazing their home sales have been.

Anyway, I had to share this with the IHB. I'm younger, so maybe he didn't take me seriously or thought I was another unqualified or barely FHA type buyer. However, as a salesman myself, I was amazed by his lack of qualifying me as a lead or even displaying a rats a$$ worth of interest. Little does he know that we have a large downpayment and 700+ credit, but I guess that's his problem and not mine. Ok, rant over.
 
CougBear said:
I visited the Latitudes sales office again this weekend to walk the largest unit one more time and thought I'd share my experience.

I had emailed one of their sales agents with a question about two weeks ago. I received no response whatsoever. Interestingly enough, that same sales agent was working when I arrived this weekend. Within a minute of us talking, he asked if we had any questions and it came up that I had emailed him with no response. He did not try to offer an apology of any sort, but simply said "oh yeah... we're pretty busy". Ok... I'm in sales and I would never say that to someone. Basically telling them that I could care less.

Secondly, in the middle of talking about their newest units, I asked what the prices were for these units. He was visibly confused by my question and retorted with "yeah... and the price is not negotiable". Apparently, I'm the idiot and didn't realize how amazing their home sales have been.

Anyway, I had to share this with the IHB. I'm younger, so maybe he didn't take me seriously or thought I was another unqualified or barely FHA type buyer. However, as a salesman myself, I was amazed by his lack of qualifying me as a lead or even displaying a rats a$$ worth of interest. Little does he know that we have a large downpayment and 700+ credit, but I guess that's his problem and not mine. Ok, rant over.
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Wow, way to go salesman

This reminds me the time I bought my last car. I wanted to test drive but they tried pushing the convertible version on me. I was like I want to test drive the hardtop.

Then they say, "come back when you're serious."

So I bought my car somewhere else where I just gave them my fair market value price, they agreed, and that was a done deal.

I swear, insulting sales tactics are so pervasive to this day, they seem to be counterproductive, leaving buyers both suspicious and even more unwilling to compromise.
 
I'd hold off buying any property here for now. Apparently, there are some homeowners at the city walk portion of vantis who are trying to change the rules and ruin it for everyone else. Some of these proposed changes include confiscation of property from homeowners balconies without any notice if the committee dislikes it, regulating when people can put their blinds up or down, and levying fines as high as $500 for simple infractions (such as being caught with a glass container at the pool). The majority of the HOA board is made up by Shea Homes and they refuse to put a stop to this. This board will be making a decision in october (the homeowners apparently do not get to vote). I'd wait to hear about the results of that decision before buying into this project. I feel sorry for the people who live there because they will have a hard time selling their home in the future if these rules pass.
 
waiting2buy said:
I'd hold off buying any property here for now. Apparently, there are some homeowners at the city walk portion of vantis who are trying to change the rules and ruin it for everyone else. Some of these proposed changes include confiscation of property from homeowners balconies without any notice if the committee dislikes it, regulating when people can put their blinds up or down, and levying fines as high as $500 for simple infractions (such as being caught with a glass container at the pool). The majority of the HOA board is made up by Shea Homes and they refuse to put a stop to this. This board will be making a decision in october (the homeowners apparently do not get to vote). I'd wait to hear about the results of that decision before buying into this project. I feel sorry for the people who live there because they will have a hard time selling their home in the future if these rules pass.
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I see that quite a few of those City Walk units are up for sale. Do you (or anyone) know if you're allowed to sublet the retail part of the unit? It would seem odd if not, but you never know.

Also, shouldn't there be a pretty high percentage of tenants that are underwater already? Since 2007, I believe they've dropped prices around 75-100k.
 
yes, you are able to rent out the commercial space. but the new rules changes may make it very difficult in the future. the hoa wants to put a clause in every tenants contract that nulls the contract if the renter breaks any of the rules at vantis. they also want to enforce mandatory office hours, regulate the blinds, etc...
 
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