corner stone by S&S in laguna niguel

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waitin4ever

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Does anyone have any opinions about cornerstone development
by shappell homes.

Schools in that area, How does that area compare to irvine in general?

Is there a old thread on this somewhere that i can find.
 
[quote author="waitin4ever"]Does anyone have any opinions about cornerstone development
by shappell homes.

Schools in that area, How does that area compare to irvine in general?

Is there a old thread on this somewhere that i can find.[/quote]
One of my buyers is interested in the community. They are waiting until the lot that they want to buy becomes available. I've gone out there with them, it's the most centrally located part of Laguna Niguel. The lots along Moulton Parkway have some awesome sunset views. From my understanding, the schools are above average. They are only releases a few lots at a time. There's no Mello Roos and the HOA is less than $200/mo. Plan 1 is not BK approved....plans 2 and 3 are nicer. When I was there, Shappel was offering a $10k-$15k upgrade incentive and additional incentives if you use their approved lender. Let me know if you have anymore questions.
 
It's one of the few neighborhoods that tempt me away from Irvine but their prices are not low enough considering the distance from where I circulate.

Sure, no Mello Roos and fairly low HOAs... but you still need to get your prices down by about $50-100k if you want to compete with your local Laguna Niguel prices (not even comparing to Irvine).
 
I went and saw the place yesterday. My immediate honest reaction was exactly the same as yours. 50-100K higher than what they should be. It is definitely beautiful and apparently all the schools that serve the area are rated as high as (if not better) Irvine schools. Even at the current pricing I believe they are about 400 to 800 cheaper on a monthly outgo basis to an equivalently sized Irvine home.


[quote author="irvinehomeowner"]It's one of the few neighborhoods that tempt me away from Irvine but their prices are not low enough considering the distance from where I circulate.

Sure, no Mello Roos and fairly low HOAs... but you still need to get your prices down by about $50-100k if you want to compete with your local Laguna Niguel prices (not even comparing to Irvine).[/quote]
 
[quote author="waitin4ever"]I went and saw the place yesterday. My immediate honest reaction was exactly the same as yours. 50-100K higher than what they should be. It is definitely beautiful and apparently all the schools that serve the area are rated as high as (if not better) Irvine schools. Even at the current pricing I believe they are about 400 to 800 cheaper on a monthly outgo basis to an equivalently sized Irvine home.


[quote author="irvinehomeowner"]It's one of the few neighborhoods that tempt me away from Irvine but their prices are not low enough considering the distance from where I circulate.

Sure, no Mello Roos and fairly low HOAs... but you still need to get your prices down by about $50-100k if you want to compete with your local Laguna Niguel prices (not even comparing to Irvine).[/quote][/quote]
Just remembered, if you used the preferred lender they would give you a credit of $7k for closing costs. Did you ask if they are still offering the upgrade and lender credits? I was there back in Nov. 2009.
 
[quote author="mogul"]Why not move up to Mariposa or the Summit?[/quote]
Because those are SFRs and start in the high $700k to low $800k and up while the Cornerstone detached condos start at the high $500k to low $600k.
 
[quote author="USCTrojanCPA"]
[quote author="mogul"]Why not move up to Mariposa or the Summit?[/quote]
Because those are SFRs and start in the high $700k to low $800k and up while the Cornerstone detached condos start at the high $500k to low $600k.[/quote]

Try again...last price we were quoted for was $689,900 with 35k for upgrades and 5k toward closing costs (Residence 2X).
 
These were the prices.

615 K (approx 1900 sq ft, 3bd +2.5 bath) for an inside plan 1

675K for a plan 2 (2075 sq st, 3bd, 2.5 bath + loft). Already includes the extra cost (30K I believe) due to sunset views towards moulton pkwy.

720K for plan 3. (2440 sq ft, 4 bd 3.5 bath+big loft). no direct view of moulton direction (except through the opening between plan 1 and plan 2. (peekaboo view {whatever selling trick that is}).

All homes have a small courtyard. Nothing very big. Plan 3 has the smallest courtyard and plan 2 has the largest.

Apparently 25K for upgrades or possible price reduction(negotiable!!!). 5K for for their lender.

HOA is 205 or 225 not sure. No mello roos. There are some extras which are standard like some areas with tiles/ kitchen cabinets, master bath etc.

Since irvine is the only place I've lived in in orange county I don't know about the schools.
Although based on ratings all the schools are blue ribbon and california distinguished schools.

If you consider plan 3 to be on par with Los Arboles plan 3 / Montecito Plan 2. Then price is
about 70-80 K less to begin with factoring the 25K deal. (results in 300-350 a month less) and no mello roos. (500 less than portola or 400 less than woodbury per month). So that is about 700 to 800 less monthly outgo.




[quote author="cameray"]
[quote author="USCTrojanCPA"]
Because those are SFRs and start in the high $700k to low $800k and up while the Cornerstone detached condos start at the high $500k to low $600k.[/quote]

Try again...last price we were quoted for was $689,900 with 35k for upgrades and 5k toward closing costs (Residence 2X).[/quote]
 
[quote author="cameray"]
[quote author="USCTrojanCPA"]
Because those are SFRs and start in the high $700k to low $800k and up while the Cornerstone detached condos start at the high $500k to low $600k.[/quote]

Try again...last price we were quoted for was $689,900 with 35k for upgrades and 5k toward closing costs (Residence 2X).[/quote]
That sounds about right for Residence 2X...I remember that the interior lot of Residence 1X was around $600k and I forgot what the Residence 2X and Residence 3X were listed for.
 
Thanks for the summary.


[quote author="waitin4ever"]These were the prices.

615 K (approx 1900 sq ft, 3bd +2.5 bath) for an inside plan 1

675K for a plan 2 (2075 sq st, 3bd, 2.5 bath + loft). Already includes the extra cost (30K I believe) due to sunset views towards moulton pkwy.

720K for plan 3. (2440 sq ft, 4 bd 3.5 bath+big loft). no direct view of moulton direction (except through the opening between plan 1 and plan 2. (peekaboo view {whatever selling trick that is}).

All homes have a small courtyard. Nothing very big. Plan 3 has the smallest courtyard and plan 2 has the largest.

Apparently 25K for upgrades or possible price reduction(negotiable!!!). 5K for for their lender.

HOA is 205 or 225 not sure. No mello roos. There are some extras which are standard like some areas with tiles/ kitchen cabinets, master bath etc.

Since irvine is the only place I've lived in in orange county I don't know about the schools.
Although based on ratings all the schools are blue ribbon and california distinguished schools.

If you consider plan 3 to be on par with Los Arboles plan 3 / Montecito Plan 2. Then price is
about 70-80 K less to begin with factoring the 25K deal. (results in 300-350 a month less) and no mello roos. (500 less than portola or 400 less than woodbury per month). So that is about 700 to 800 less monthly outgo.




[quote author="cameray"]

Try again...last price we were quoted for was $689,900 with 35k for upgrades and 5k toward closing costs (Residence 2X).[/quote][/quote]
 
FYI...we stopped by the sales office yesterday and a couple of things have changed since our last visit...they now want you to pre-qualify for the home and they're talking about raising the prices in the next phase.
 
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