Delano at Eastwood

[yoyo2012]

In your phase, what was pricing for all three Helena plans?

Overall, we felt residence 2 was very impressive.  The upstairs floor plan was VERY efficient, so much more so than IP's products in Helena/Petaluma. The master bathroom was bigger and not narrow like a corridor in Petaluma. Residence 2 also had a whopping high ceiling master bedroom which felt like a beach house on the second floor. The optional balcony elevation or juliet balcony is going to sell well. Residence 2's great room was impressive and felt spacious than the floor plan suggests. The outdoor courtyard in my opinion was better than Helena's residences. But Petaluma still wins with the courtyard.

Residence 3 features 4 bedrooms, 1downstairs. The downstairs bathroom is a FULL bath with shower! Again, I'm very pleased with brookfield's efficient use of space. I gotta say, they are a bit better than Helena on the upstairs. The downstairs great room is going to be smaller than residence 2 because of the protruding bedroom 4 that eats into the space of the great room.  It's not too noticeable initally but when you walk back to residence 2, you can definitely tell residence 2 is wider. I confirmed that on the interactive floor plan, residence 2 is definitely 2 feet wider in the great room overall and 1 foot longer in depth from kitchen to front door.  It makes a difference I guess.

Residence 1 does not get a backyard but they do have a crappy balcony that reminds me of Caserta. Residence 1 to me is more geared towards the bachelor pad or students who like to share the home.  This is because you have to climb the stairs up to the main floor all the time. Not going to sell too fast but who knows, the price certainly reflects the budget conscious buyer at mid to high 600s.

Overall, I think residence 1 and 2 prices are reasonable and reflect what you get. Residence 3 is pushing a bit expensive for attached, but I can see why they charge that much because it does indeed have 4 bedrooms and we know an extra bedroom is like +$40,000 in the appraisal value typically.

My wife loves residence 2 and would be willing to give up 1 bedroom just for the 'better feel' of residence 2 and the great room space. I personally prefer to have the extra downstairs 4th bedroom and sacrafice some space in the great room. Both residences gets you a decent comparable courtyard.

The California room is standard in residence 2 and 3 while residence 3 has the slightly bigger overhang/california room than residence 2. Overall, I am impressed and pleased with the efficient floor plans. I couldn't find much fault for the money you're paying.

For investment purposes, best to buy low and sell high while maintaining some 'desirability'. So to that regard, shoot for residence 2.
For budget conscious buyers who still want 3 bedrooms but want all the amenities EW has to offer and Northwood high, can't go too wrong with residence 1. But climbing stairs do suck and you'll have to live with that.

For the people who live with the in-laws like all the Indian families I saw, you'll probably want to spend the extra $40-50k premium and get the 4th bedroom to please the mother-in-law. 

Delano appears to be geared towards the younger families, just starting out, have 2 young kids, and is strategically well-placed in the community so that kids have quick access across the street to the parks and community center.

I agree that Helena is wasting space with hallways but I've never been a fan of models where you open the door and you're into the living room. Also, Delano plans are fully attached. A good number of Helena homes are only attached by the garage. I compared the great room size and they seem very similar for plans 2 (14x22 for Helena and 13x13 + 13x9 for Delano). I think you are a little limited with dining area options because of the hallway, basically the largest table you can have that looks good is a 72inch. How do backyard sizes compare?

What I like about the Delano floorplan is that master bedroom is little smaller and master bath is little smaller in Delano vs Helena but you're also gaining a California room. I would do that sacrifice for sure, although I do enjoy the backyard pergola area in Helena as well.

To be honest, I'm quite shocked by the price tag. I bought Helena plan 2 in early phases, I thought it was pretty similar to Petaluma and thought it had some room to appreciate since it was priced same as other townhomes without a yard and worse floor plans selling in Irvine at that time. Prices seem to have gone up drastically since we bought. However, has the whole market really good up that much. When I look for resale similar units, they seem cheaper than what Helena or Delano sell for and in a resale unit, you'd get a built yard. I'm guessing people are willing to pay a big premium to have a new home.

I think about 90k or so less for base price. However they were forcing about 20k of upgrades (I would have probably done most of them except 3k for paint and the upgraded isolation).

3K for paint? What did they do?

2800 for upgraded paint throughout. They did a pretty terrible job too. Had to have them redo bunch of spots. And that "upgraded" paint wasn't really high quality. Would never pay for that upgrade.

 

[OCLuvr]

So, $698k is $771k now?

In your phase, what was pricing for all three Helena plans?

When I was looking early May 2016, these were the prices

plan 1 - $666,447
plan 2 - $682,352-$717,377
plan 3 - $698,594-$728,345

The differences in the prices were some pre-included upgrades, like what yoyo2012 said, causing the differences in price.  Only 1 of the homes in each release was more "base"

 

[SoclosetoIrvine]

So, $698k is $771k now?

In your phase, what was pricing for all three Helena plans?

When I was looking early May 2016, these were the prices

plan 1 - $666,447
plan 2 - $682,352-$717,377
plan 3 - $698,594-$728,345

The differences in the prices were some pre-included upgrades, like what yoyo2012 said, causing the differences in price.  Only 1 of the homes in each release was more "base"

Yes, massive jump last few phases
Compared to the resale market nearby, it's massive overpay, but people are still willing to pay that premium for brand new

 

[OCLuvr]

Helena is already in resale?
How much are they going for?

So, $698k is $771k now?

In your phase, what was pricing for all three Helena plans?

When I was looking early May 2016, these were the prices

plan 1 - $666,447
plan 2 - $682,352-$717,377
plan 3 - $698,594-$728,345

The differences in the prices were some pre-included upgrades, like what yoyo2012 said, causing the differences in price.  Only 1 of the homes in each release was more "base"

Yes, massive jump last few phases
Compared to the resale market nearby, it's massive overpay, but people are still willing to pay that premium for brand new

 

[YellowFever]

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[yoyo2012]

Yes, massive jump last few phases
Compared to the resale market nearby, it's massive overpay, but people are still willing to pay that premium for brand new

To a middle class 1099/W-2 employee, the massive jump in price is a lot for them to swallow. Especially since they have to take out a mortgage.

To the Chinese Mainlander, Taiwanese investors, $5000 versus $50,000 is not much of a difference to them. These people look for the 'long-term' and buying new is WORTH the risk versus buying resale when you think about it. New home is less risk, little to no maintenance and usually higher desirability than older homes. 

I remember walking into a sales office at Piedmont or Marin (forgot) and the sales lady proclaimed to another customer "DO YOU KNOW HOW MANY CASH BUYERS I HAVE!?!"  ;D

Do you think I care when I spend $14.99 for a regular steak or $24.99 for the Filet Mignon?  It's significantly more expensive, but relatively speaking, I can swallow that cost. However, to the poor kids in Africa who live on less than a dollar a day, that is just  too much money.

The neighbors I've met in Helena don't seem to be cash buyers though. They all seem to have grew up here (although mostly asian) and be dual income young families or couples. I think that might change once you go to 900k range.

 

[YellowFever]

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[yoyo2012]

The neighbors I've met in Helena don't seem to be cash buyers though. They all seem to have grew up here (although mostly asian) and be dual income young families or couples. I think that might change once you go to 900k range.

agree. from what i saw during open house, delano was 50% cash buyers and 50% young middle class families (white, indian, asian). I did see some very young asian couples (mid to low 20s) in a Porsche Cayenne and I'm positive they are cash buyers. That's all daddy's money.  ;D

Piedmont for sure, is a ton of cash buyers. Those old Asian ladies... ;D

700-800 is basically kinda the top of the range that a couple with good/decent jobs can afford.

 

[SoclosetoIrvine]

Helena is already in resale?
How much are they going for?

I was referring to similar comps in the area.  Specifically Stonegate cambria/stonegate east which is almost exactly the same floorplan/sq ft and newer builds

Forgot who but someone posted a few in stonegate east that were below $750,000...flooring already done, backyard done with some kitchen upgrades out the door for that price, compared to $770k barebones without any upgrades

 

[yoyo2012]

Helena is already in resale?
How much are they going for?

I was referring to similar comps in the area.  Specifically Stonegate cambria/stonegate east which is almost exactly the same floorplan/sq ft and newer builds

Forgot who but someone posted a few in stonegate east that were below $750,000...flooring already done, backyard done with some kitchen upgrades out the door for that price, compared to $770k barebones without any upgrades

Stonegate east isn't the best comp though. When we were looking, I was noticing about a 40-50k delta between the Cambria models in SG east and SG. I remember same time last year, some Cambria models in SG east were going for 680-690 and I remember some in SG selling for 735.

Not sure if that delta still holds.

 

[yoyo2012]

Helena is already in resale?
How much are they going for?

I was referring to similar comps in the area.  Specifically Stonegate cambria/stonegate east which is almost exactly the same floorplan/sq ft and newer builds

Forgot who but someone posted a few in stonegate east that were below $750,000...flooring already done, backyard done with some kitchen upgrades out the door for that price, compared to $770k barebones without any upgrades

Stonegate east isn't the best comp though. When we were looking, I was noticing about a 40-50k delta between the Cambria models in SG east and SG. I remember same time last year, some Cambria models in SG east were going for 680-690 and I remember some in SG selling for 735.

Not sure if that delta still holds.

The recent model 2-3 that sold in SG seem to be around 740-750. I think Helena might have however drastically increased their prices recently too as there's few homes left to sell. I thought they were 710-730 at end of the year.

 

[OCLuvr]

Visited Delano today. My 2 cents: Helena is better product. I can totally understand why IP has those hallways.

 

[YellowFever]

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[OCLuvr]

How do you compare Petaluma plan 1 and Delano plan3?

 

[YellowFever]

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[lnc]

Visited Delano today. My 2 cents: Helena is better product. I can totally understand why IP has those hallways.

Delano will sell very, very well. There is nothing you can buy today brand NEW in the mid 600s that has 3 bedrooms, functional floor plans, a yard, a California room, 2 car NON-tandem garage, low MR, close to WTC/Zion market, direct connection to JOST and other trails, low risk of environmental hazards, new elementary, a neighborhood with no apartments, and to top it off, Northwood High. Absolutely nothing.

Delano will be the LAST subdivision in Eastwood in this low price range with 3 bedrooms. All the rest of the homes scheduled to be built out in EW appears to be high end products.

I will snatch up a Delano before I snatch up anything in PS1/PS3 for the same money. Every other young first time buyer should consider this tract as the top 3. Delano should be considered before The Vine, Indigo, and Willow.  For Silverleaf, it may be a tossup as you start getting a detached product for Silverleaf in a less desirable location. But as we all know, the first thing they teach in realestate is the 3L's. (Location Location Location!)

You got some very good analysis here.

Delano is not only the last new build at this price range in EW, its the last new build at this price range west of Sand Canyon.

The next new village coming out is the OH3 and the lowest price product at OH3 will be a Petaluma successor with approx 200 s.f. larger in interior size.  And even if price per s.f. is the same as in EW, that 200+ s.f. will make the next Petaluma successor's price tage well into the mid $900k. 

EW is the last village west of Sand Canyon with new build under $900k.  After EW, you will be looking at PS or GP for new build at this price range.

 

[YellowFever]

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[stevers]

Anyone know the trash situation at Delano?  I mentioned to the salesperson that I did not like storing the trash bins in the garage, and he said that it could be stored on the "side" and there's plenty of space for it.  I'm assuming he meant the yard/patio, but I didn't see any access doors from the street.  There is an access door from the garage to the yard, but it is awkward to drag the bins through the garage and over the threshold.  The office was closed by the time I finished walking the outside so I couldn't clarify.  Seems kind of small, but this might be a deal breaker for me.  I'm intending to park two fairly wide cars in the garage, it won't work to store the trash bins in the garage.  If I have to take up a garage space for the bins, a 2-car wide is functionally the same as a tandem. 

 

[WTTCHMN]

Anyone know the trash situation at Delano?  I mentioned to the salesperson that I did not like storing the trash bins in the garage, and he said that it could be stored on the "side" and there's plenty of space for it.  I'm assuming he meant the yard/patio, but I didn't see any access doors from the street.  There is an access door from the garage to the yard, but it is awkward to drag the bins through the garage and over the threshold.  The office was closed by the time I finished walking the outside so I couldn't clarify.  Seems kind of small, but this might be a deal breaker for me.  I'm intending to park two fairly wide cars in the garage, it won't work to store the trash bins in the garage.  If I have to take up a garage space for the bins, a 2-car wide is functionally the same as a tandem.

Don't worry, you can throw away your trash at the park like all the FCB's.

 

[eyephone]

Anyone know the trash situation at Delano?  I mentioned to the salesperson that I did not like storing the trash bins in the garage, and he said that it could be stored on the "side" and there's plenty of space for it.  I'm assuming he meant the yard/patio, but I didn't see any access doors from the street.  There is an access door from the garage to the yard, but it is awkward to drag the bins through the garage and over the threshold.  The office was closed by the time I finished walking the outside so I couldn't clarify.  Seems kind of small, but this might be a deal breaker for me.  I'm intending to park two fairly wide cars in the garage, it won't work to store the trash bins in the garage.  If I have to take up a garage space for the bins, a 2-car wide is functionally the same as a tandem.

Don't worry, you can throw away your trash at the park like all the FCB's.

That's funny (can't stop laughing)