usctrojancpa
Well-known member
scubasteve said:
Tough to say what kind of premiums those larger non-view lots will be but my guess is it'll range from $50k to $150k (depending on the size of the lot and if you have no neighbors behind you).
Cetara Orchard Hills The Groves Shea Homes
- Thread starter leect
- Start date
Tough to say what kind of premiums those larger non-view lots will be but my guess is it'll range from $50k to $150k (depending on the size of the lot and if you have no neighbors behind you).
They are increasing the phase premiums for the nonview lots by $10-$15k per phase. When you get to the larger lots in the later phases, it?ll be closer to $100k increase over the earlier phases plus the lot premiums. Would be interesting to see the larger interior lots closer to $2m.
usctrojancpa
Well-known member
irvineboy said:
As long as they are selling every home that they release they'll keep bumping up the base along with the lot premiums.
usctrojancpa
Well-known member
irvineboy said:
From a new home perspective, their competition is Ravello and Capella & Crescendo at Cadence Park in Irvine but their competition is also resale homes in the $1.8m to $2.5m price segment. In terms of buying a Cetara view lot versus a Bella Vista non-view lot, that'll depend on what's more important to a buyer. Every buyer is different, some place more value on premium lots while others more value on the floor plan or location.
When I see resales, owners with view lots generally try to sell for more than 25% premium. Builders typically sell view lots for 25% premium but resales fetch for a lot more. I guess what?s driving the Cetara demand is that they are the last view lots in the groves. Plus they are the smallest homes with a true view.
usctrojancpa
Well-known member
irvineboy said:
From what I've seen in the past 14 years or so, premium lots (larger lots, view lots, and larger view lots) tend to get a higher premium in resales as compared to what the buyer paid for the home from the builder. For example, I had an Alta Vista buyer who was looking at a $400k view lot premium and was hesitating but I showed him a few comps. He ended up buying the home and when he found out that the last Alta Vista view lots had $700k-$800k premiums he was a happy camper.
With Alta Vista, the lots with the $400k lot premium are on lower elevation (Knob Creek) compared to the ones with $800k lot premium (Leafy Pass or Dry Creek). When it comes to resales, there?s no way a lower elevation can ask for the same as a higher elevation right? Assuming similar size lot and upgrades.
usctrojancpa
Well-known member
irvineboy said:
His lot was larger than those higher elevation lots. Regardless, his lot premium is worth a lot more than $400k today.
scubasteve
Active member
I stopped by the sales office and just some quick observations:
1.) Seems like sales/pre-sales are strong given the lack of motivation from the sales office to answer a lot of questions despite my being a non-contingent potential buyer. They mentioned to me that the pre-approval list is very long.
2.) Thought it was funny to see entitled potential buyers come in asking to cut the line if they gave cash today; these weren't the typical FCBs but seemed like people from LA trying to move here.
I sort of have mixed views on whether or not to pull the trigger since my oldest is in 4th grade and the houses don't really offer much more functionality over my current house. I'm also not too familiar with OH:
1.) CV has so many close by amenities: Elementary School and Middle School are all walking distance. Many parks by both the HOA and City is a plus. The K-8 school didn't seem like an easy walk for young kids from Cetara. As someone mentioned the closest park is at the Resort which also doesn't seem like an easy walk.
2.) CV is more central; not sure how much I would like driving the extra 10-15 mins a day if we ever have to go back to the office but this is by no means a deal breaker.
3.) Are there any nice trails like JOST in the Groves? We like to do family bike rides and OH would seem tougher for young kids given the hills and higher elevation.
4.) TUSD vs IUSD although all of the Grove schools seem good.
With that being said, it seems like a good time to realize gains from the incredible Bull run that we've had in the stock market and park it into a house that the family can enjoy. This is also my last opportunity to move up while the kids are still in elementary school.
It's view lot (unlikely given I just pre-qualified) or big lot (preferably some of the unannounced ones that have no backing neighbors) or bust for me like a lot of the other buyers on here.
Question: For some of the big lots like lot 60/61 in Phase 5 where you do have a backing neighbor, is 20+ feet good enough for privacy? I haven't had the luxury of owning a house with big lots so genuinely curious.
Thanks!
1.) Seems like sales/pre-sales are strong given the lack of motivation from the sales office to answer a lot of questions despite my being a non-contingent potential buyer. They mentioned to me that the pre-approval list is very long.
2.) Thought it was funny to see entitled potential buyers come in asking to cut the line if they gave cash today; these weren't the typical FCBs but seemed like people from LA trying to move here.
I sort of have mixed views on whether or not to pull the trigger since my oldest is in 4th grade and the houses don't really offer much more functionality over my current house. I'm also not too familiar with OH:
1.) CV has so many close by amenities: Elementary School and Middle School are all walking distance. Many parks by both the HOA and City is a plus. The K-8 school didn't seem like an easy walk for young kids from Cetara. As someone mentioned the closest park is at the Resort which also doesn't seem like an easy walk.
2.) CV is more central; not sure how much I would like driving the extra 10-15 mins a day if we ever have to go back to the office but this is by no means a deal breaker.
3.) Are there any nice trails like JOST in the Groves? We like to do family bike rides and OH would seem tougher for young kids given the hills and higher elevation.
4.) TUSD vs IUSD although all of the Grove schools seem good.
With that being said, it seems like a good time to realize gains from the incredible Bull run that we've had in the stock market and park it into a house that the family can enjoy. This is also my last opportunity to move up while the kids are still in elementary school.
It's view lot (unlikely given I just pre-qualified) or big lot (preferably some of the unannounced ones that have no backing neighbors) or bust for me like a lot of the other buyers on here.
Question: For some of the big lots like lot 60/61 in Phase 5 where you do have a backing neighbor, is 20+ feet good enough for privacy? I haven't had the luxury of owning a house with big lots so genuinely curious.
Thanks!
aquabliss
Well-known member
I wonder if the agents accept cash bribes? I?m sure some have tried.
Steve regarding your question, I?d much rather have a 10 foot yard with no neighbor behind (or view) vs. a 20 foot yard with a neighbor directly behind. I?ve experienced both and it?s not just the privacy but the amount of natural light is very different.
Privacy beats a bigger yard where neighbors can look into your space.
Steve regarding your question, I?d much rather have a 10 foot yard with no neighbor behind (or view) vs. a 20 foot yard with a neighbor directly behind. I?ve experienced both and it?s not just the privacy but the amount of natural light is very different.
Privacy beats a bigger yard where neighbors can look into your space.
usctrojancpa
Well-known member
Shea definitely goes why when buyers get pre-qualified by their lender in terms of where they are on the waitlist. They don't allow cash buyers to "skip" the waitlist and I'm sure that their agents don't take bribes even though I'm sure some buyers/agents may have tried.
scubasteve
Active member
Thanks everyone for the inputs on the lot...
Dr. CA Real Estate
New member
Phase 4 release on Sat the 16th
scubasteve
Active member
irvineboy said:
$500k is pretty steep but if they get to the bottom of the list for Phase 4 then I'll think about =)
Our preferred floor plan is Plan 1 due to the functionality (conservatory w/ stack doors @ courtyard & office makes this 7 rooms) and there is only 1 left for view lots so I doubt it; Will gladly take a Plan2 but there's no way that's making it to the bottom of the list. Not really interested in Plan3.
Kris, any idea how much the stacking doors go for? It wasn't on the detailed options list that I got. I'm guessing $20k a piece?
scubasteve
Active member
Got an email saying Phase 3 release is this Saturday. Should it be phase 4?
Dr. CA Real Estate
New member
irvineboy said:
A lot of people will still drive over you for those lots with the 500k premium. If you're unfamiliar with in demand lot premiums with other developments 500 is barely middle tier.