Azalea: New Low Cost or Investment Homes for Cypress Village

[crownedking]

any word on pricing? Im hoping this can be my first home

 

[Cares]

No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

 

[irviniteeee]

No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

I honestly see these starting in the 5's somewhere. Usually California Pacific prices their projects at an "affordable" rate (in the first phases at least). I wouldn't be shocked by 675-700, but I feel like they will be less.

 

[usctrojancpa]

No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

I honestly see these starting in the 5's somewhere. Usually California Pacific prices their projects at an "affordable" rate (in the first phases at least). I wouldn't be shocked by 675-700, but I feel like they will be less.

No way, the single level 2 bedroom condo pricing will be in mid $600s to start given where comps are at for similar units in Stonegate, Woodbury and Cypress Village.

 

[irviniteeee]

No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

I honestly see these starting in the 5's somewhere. Usually California Pacific prices their projects at an "affordable" rate (in the first phases at least). I wouldn't be shocked by 675-700, but I feel like they will be less.

No way, the single level 2 bedroom condo pricing will be in mid $600s to start given where comps are at for similar units in Stonegate, Woodbury and Cypress Village.

That's true. I think I would prefer one of the single level floorplans in the other villages. The supposed dining room in the plan 1 and 2 looks completely unusable.

 

[Cares]

No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

I honestly see these starting in the 5's somewhere. Usually California Pacific prices their projects at an "affordable" rate (in the first phases at least). I wouldn't be shocked by 675-700, but I feel like they will be less.

No way, the single level 2 bedroom condo pricing will be in mid $600s to start given where comps are at for similar units in Stonegate, Woodbury and Cypress Village.

Yep if resale comps are selling mid $600s there's no way that a builder will price at or below the comps on new construction. It'll be above and keep in mind lumber is over double a year ago.

 

[usctrojancpa]

No word on pricing yet. My best guess is starting between $675-700k for the smaller 1000 sqft units. Low inventory overall and cost of lumber is up significantly. They will pass the cost onto the buyers.

I honestly see these starting in the 5's somewhere. Usually California Pacific prices their projects at an "affordable" rate (in the first phases at least). I wouldn't be shocked by 675-700, but I feel like they will be less.

No way, the single level 2 bedroom condo pricing will be in mid $600s to start given where comps are at for similar units in Stonegate, Woodbury and Cypress Village.

Yep if resale comps are selling mid $600s there's no way that a builder will price at or below the comps on new construction. It'll be above and keep in mind lumber is over double a year ago.

They may price a bit lower right off the bat to get momentum and then keep bumping prices up, we shall see.

 

[Dr. CA Real Estate]

If you're interested in buying here dm me Ill email you the price sheet

 

[GoatGeneral]

Can you copy/paste here or is it not public info?

 

[usctrojancpa]

One of my client's got an email from CalPac that the pre-quals for Azalea begins on April 15th.  They also found out the CalPac will not be paying a broker co-op to agents. 

 

[Dr. CA Real Estate]

When/where did they hear that? Was going to be 10k last I knew

 

[irviniteeee]

When/where did they hear that? Was going to be 10k last I knew

I got the email today too. Here's a screenshot:

 

[usctrojancpa]

When/where did they hear that? Was going to be 10k last I knew

I got the email today too. Here's a screenshot:

Yup, that's the flyer my client forward to me and they circled the no broker co-op part at the bottom.  haha  CalPac being a little greedy...brings back the 2012 days when Irvine Pac didn't want to pay broker co-ops at Laguna Altura until the market turned and the changed their minds.  haha

 

[crownedking]

Does anyone have info on pricing?

 

[usctrojancpa]

Does anyone have info on pricing?

Expect $650k+

 

[sleepy5136]

Does anyone have info on pricing?

Expect $650k+

That would mean it would start at $609 per sqft. That seems way too high for an entry level condo in Irvine.

 

[brergnat]

Does anyone have info on pricing?

Expect $650k+

This is a joke, right? They are advertising them as being "attainably priced to make home ownership a possibility."

Anything over $500/sq foot is too high for these floorplans.

 

[usctrojancpa]

Does anyone have info on pricing?

Expect $650k+

This is a joke, right? They are advertising them as being "attainably priced to make home ownership a possibility."

Anything over $500/sq foot is too high for these floorplans.

It's not a joke, the market is on fire in the low end of the market plus this development has low mello roos of $1,700/yr so the builder will ask for high prices.  Look, they aren't even offering a $10k-$12k broker co-op for the condos. 

 

[Cares]

Does anyone have info on pricing?

Expect $650k+

This is a joke, right? They are advertising them as being "attainably priced to make home ownership a possibility."

Anything over $500/sq foot is too high for these floorplans.

You may think it's too high but I guarantee you these are going to fly out the door in the early phases.

 

[anteaterscientist]

Any comments about the safety of the land from the environment standpoint?