Belvedere at Eastwood

Q. Well if you knew about them, then why ask the ladies?
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A. My original post was a good estimate from the best available info. I wanted exact sizes and verification which required original plans the ladies may have. I'm 97% sure my lot size hypothesis is correct but 100% is better!
 
Did a little tour today, this place is WAYYY over priced for sure. However many FOB passing by and like the location to the asian restaurants and grocery stores.

Only plus side ( NORTH WOOD HS)
 
How would you compare Belvedere Plan 2 vs. Piedmont Plan 2?  Which one would you get personally, considering personal preference and resale value?   

Here are some of my observations, taking out obvious cons that both are overpriced, and location-dependent factors (house orientation, T-intersection, lot premium, etc.)

Piedmont Plan 2

Pros:
  • Lower base price ~ 1.09m (taking upgrades out for apple to apple comparison)
  • 4 full bathrooms, each with its own window
  • Laundry room also has its own window

Cons:
  • All bedrooms feel and may be actually smaller
  • Some side yards are not even 5' wide
  • Facing stairs from front entrance, lacking nice open view

Belvedere Plan 2

Pros:
  • 10' Ceiling
  • Slightly bigger lot than Piedmont on average, still pathetic
  • Bigger rooms and loft

Cons:
  • ~70K more expensive at ~1.16m base
  • Only 3 full bathrooms
  • One bathroom and laundry room has no window
 
It's hard to say. Need to pick two examples to compare.

Belvedere  model home is definitely much better since larger back yards is so good.
If they have similar lot size, then I would say your budget and their location will decide. You may find better location in site map, but waiting for another few phases means more and more expensive. People always complain about overprice of EW. IMO, buying right now may save you some or just never buy.

Cressa plan 2 is cheaper and have similar size. Contamination in soil is a little annoying.


wbresident said:
How would you compare Belvedere Plan 2 vs. Piedmont Plan 2?  Which one would you get personally, considering personal preference and resale value?   

Here are some of my observations, taking out obvious cons that both are overpriced, and location-dependent factors (house orientation, T-intersection, lot premium, etc.)

Piedmont Plan 2

Pros:
  • Lower base price ~ 1.09m (taking upgrades out for apple to apple comparison)
  • 4 full bathrooms, each with its own window
  • Laundry room also has its own window

Cons:
  • All bedrooms feel and may be actually smaller
  • Some side yards are not even 5' wide
  • Facing stairs from front entrance, lacking nice open view

Belvedere Plan 2

Pros:
  • 10' Ceiling
  • Slightly bigger lot than Piedmont on average, still pathetic
  • Bigger rooms and loft

Cons:
  • ~70K more expensive at ~1.16m base
  • Only 3 full bathrooms
  • One bathroom and laundry room has no window
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shadyoc said:
Neighborhood feels really crammed.  Price per sq feet is higher than OH.
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Bullsback said:
Saw this yesterday and these are way overpriced, but I did find the models nice.
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Seems logical to compare Belvedere to Strada - but we have to try to normalize the info to attempt an apples-to-apples comparison. First thing to note is that posted Strada prices include upgrades like lot premiums, elevation premiums, and designer installed upgrades. Had to work a little but was finally able to get the base prices from sales staff - which is what the Belvedere prices are. Also note that Belvedere comes with a California Room as standard - it is a $13K option at Strada so I just added that amount to Strada's base price. So here's what we have:

Strada Plan 1  2,195 SF  Base + California Room = $1,078,900 ($491/SF)
Strada Plan 2  2,480 SF  Base + California Room = $1,167,800 ($470/SF)
Strada Plan 3  2,693 SF  Base + California Room = $1,209,300 ($449/SF)

Belvedere Plan 1  2,402 SF  Base Price = $1,114,000 ($464/SF)
Belvedere Plan 2  2,605 SF  Base Price = $1,165,000 ($447/SF)
Belvedere Plan 3  2,873 SF  Base Price = $1,244,000 ($433/SF)

Now because prices per square foot decrease as area increases we just need to compare Strada Plan 2 to Belvedere Plan 1 (470 vs. 464) and Strada Plan 3 to Belvedere Plan 2 (449 vs. 447). Strada is more expensive - although the prices don't seem that different, the differential would increase if you guestimate the prices for an increased area home at Belvedere to match Strada's slightly larger home - maybe an additional 3-4% in price per SF difference. In addition the minimum lot size in Strada is 47' X 72' = 3,384 SF and for Belvedere it's 48' X 74' = 3,552 SF which means that Belvedere Plan 1 would have a little smaller same size house as Strada Plan 2 but would have about 168 SF (about 5%) more of side and rear yards. Doesn't sound like much but 2' extra depth in your 10' deep back yard is worth something - I know you have to take into consideration that these are two story homes but also keep in mind that the total footprint is smaller - that's why it is "about" 168 SF. Plus we all know that Irvine dirt contains gold! So Belvedere is actually a cheaper than Strada albeit not a huge amount. Conversely this is also illustrates that IP priced OH and EW within 5% - so much for OH being premium.

Strada has a $196 HOA and $4,512 MR
Belvedere has a $125 HOA and $3,214 MR - much better deal
 
Hello Belvedere Priority Buyer -

Due to the heightened demand for the elegant homes at Belvedere, we are happy to announce the pre-release of Phase 3 @ Belvedere.

Please review the prices below and attached location map for the 3rd release of our ultimate new home collection. 

Residence One
Homesite 18 134 Pewter - Santa Barbara (A) $1,143,000 - lot size approx 3,777 sq ft

Residence Two
Homesite 16 130 Pewter - Formal Spanish (CR) $1,194,000 - lot size approx 3,777 sq ft
Homesite 19 136 Pewter - Spanish Monterey (J) $1,204,000 - lot size approx 3,777 sq ft

Residence Three
Homesite 17 132 Pewter - French (H) $1,281,000 -  lot size approx 3,777 sq ft

Residence Three X
Homesite 20 138 Pewter - Formal Spanish (C) $1,344,000  - lot size approx 4,635 sq ft
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Note as I predicted these lots are larger than Phases 1 & 2 (48' X 74' = 3,552 SF)
Phase 3 is "approx." 48' X 78'-8" = 3,777 SF - I estimated 48' X 79'....

Looks like maybe a $10K price hike and a $19K lot premium.
 

Attachments

  • Belvedere Phase 3 Sales Map.pdf
    292.8 KB · Views: 241
Yeah, agree with you.

I found IP homes in EW increase 4K every phase.

Piedmont phase 3 base price is $999K, phase 1 base price is $991K.
Marin phase 4 base price is $937K, phase 3 base price is $933K.



wbresident said:
It's actually same 4K phase hike, but 25k lot(+~200sq ft) and location(single loaded st) premium.
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I was at Belvedere registering a client this weekend and found out the details on the single-story Plan 4 home. Oh man, 600/sf ($1.2m for about 2,000sf) without 10+ foot ceilings and the WORST part of it all....an 8 foot driveway where you CAN'T park your cars on.  What a FAIL! 
 
Belvedere is going to move slowly. The fact that you had phase 1 and 2 go as slow as it did, is all you need to know, imo.  Maybe the market will catch those prices but IPAC is going to move slower on that, but they might be okay with that. As long as they can eventually get it, they'll do fine.  I also suppose it doesn't hurt them to take a "slower" approach given the eventual scarcity of land (might not seem like it now with all these projects, but pretty soon (5+ years), new home builds in Irvine are going to be a lot fewer.  Of course market factors could push that back as I view basically the great park, PS and OH (along with remainder of Eastwood) being the final frontier of Irvine home building. 

Maybe I'm wrong though. 
 
I also believe Belevedere will move slowly and lot slower than other under $1M products in Eastwood.

But Belevedere still going to sell well but just not flying off the shelves pace like Petaluma and probably will be slower pace than Strada.

 
I wish Belvedere would make another "mistake" as well, but it seems like their sales is not as slow as I wished... or else they wouldn't release phase 3 pricing within a week of phase 2 releases.  Seems like most of the homes in first 2 phases are sold as well, other than a T-intersection plan 3. 

They also need not to sell on an aggressive schedule, as they haven't broken ground yet (scheduled in May) and first phase won't be moving in till Oct.  All the others in EW(Piedmont, Petaluma, Helena, etc.) all have phase 1 move-in's end of May or early Jun...
 
Phase 4 release and gone - Except one lot. It just took 2 days - sounds crazy.
Except 124 Pewter/Lot 13. Looks like the #4 and #13 issue with that lot.
 
Just curious what people think of Belvedere here in terms of location within eastwood village.  Is it worth it or just wait for Calistoga to open and see what they are offering? 
 
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