Delano at Eastwood

[usctrojancpa]

I am curious to see how the values of these properties will fare in the long term. If there is a correction in the real estate market, even a slight one, these will be interesting to watch. It would probably be helpful to see a price sheet which lists base price plus any premiums/upgrades included.

While we were looking at Celeste, CalPacific had a price sheet on hand that broke down the base price plus the premium for more desirable lots, as well as upgrades. I took some of those costs to the general contractor I work with to see if we were being completely gouged. I was pleasantly surprised to learn that it was only slightly more than what he would charge for a custom job with materials and high quality labor. That gave us more reassurance.

No big premiums on lots at Delano....maybe $10k-$30k for a larger yard here and there. 

 

[ThirtySomethingWEquity]

I am curious to see how the values of these properties will fare in the long term.

They will fall. What BTB and his alt accounts don't realize is that the Irvine marketing machine is going in full force to keep prices/sales high at these places.  Seeing phase releases go higher and higher are no indication of how prices will fare once the builder (and developer) stop spending tens of millions of dollars marketing to Americans and mainlanders in China. 

 

[OCLuvr]

Delano is not from Irvine company

 

[TestingIrvine]

I live in Delano model #3 and think even at the current price it is worth it.  Obviously I'm biased but it is really hard to get a new 4 bed home in Irvine at this price range and that was the selling point.  For a family with young kids this is perfect since there are so many parks within walking distance not to mention the field and playground at Eastwood Elementary which is open to the public during non-school hours. You have (1) Eucalyptus (2) Mosaic (3) Eastwood Neighborhood and (4) Eastwood Elementary within a 2-5 minute walk all being legit parks with playgrounds, two of which have pools.  Nobody cares about yards if you have this many choices in playgrounds.

If I wanted a large yard at this price point, I would have bought in Tustin Ranch.  When you have tour buses loaded with mainland Chinese people buying homes at Delano (at least in early phase) the price will be definitely inflated.  But again, it is really hard to find a four bedroom at the current price model #3 is anywhere in Irvine. 

 

[TestingIrvine]

And for clarification, I am saying it is hard to find a 4 bed TIC home which is what we were looking for specifically. 

 

[TestingIrvine]

Delano is not from Irvine company

Delano is regulated by the Irvine Company.  Every builder in Eastwood Village is.  Brookfield (Delano) gets approval from TIC for every home they sell when it comes to the price. 

 

[Burn That Belly]

x

 

[eyephone]

Delano is not from Irvine company

Delano is regulated by the Irvine Company.  Every builder in Eastwood Village is.  Brookfield (Delano) gets approval from TIC for every home they sell when it comes to the price.

Just curious. How do you know? Please explain.

 

[WTTCHMN]

Delano is not from Irvine company

Delano is regulated by the Irvine Company.  Every builder in Eastwood Village is.  Brookfield (Delano) gets approval from TIC for every home they sell when it comes to the price.

Just curious. How do you know? Please explain.

It's true - TIC rubber stamps the pricing for every phase release in their "Villages" regardless of the builder.  As always, everything is "Masterfully Planned".

 

[eyephone]

Delano is not from Irvine company

Delano is regulated by the Irvine Company.  Every builder in Eastwood Village is.  Brookfield (Delano) gets approval from TIC for every home they sell when it comes to the price.

Just curious. How do you know? Please explain.

It's true - TIC rubber stamps the pricing for every phase release in their "Villages" regardless of the builder.  As always, everything is "Masterfully Planned".

In other words. They can?t go below MSRP? Jk

 

[Kings]

not only does papa bren directly set the price of all new homes in irvine, he also indirectly sets the price of all resale homes in irvine

 

[TestingIrvine]

And for clarification, I am saying it is hard to find a 4 bed TIC home which is what we were looking for specifically.

Talise is 4 bedroom under a mil. But there's other drawbacks and then some.

Yes that is true. Didn't say it didn't exist, just that it was hard to find one...as in slim pickings.  The logic of not having a large yard doesn't make sense with Delano.  You are not buying into the home (Delano) but also into the village.  For example there is also an underpass in Jeffrey Open Space Trail from Eastwood that I use almost every day to exercise. Compared to other villages I don't think you get as more amenities than anywhere else.

I obviously am biased, but that is why $1M+ for Delano #3 is worth it and will retain it's value / appreciate in the future.

 

[eyephone]

If RE prices continues to stumble. You might be able to buy more for $1 mil.

 

[TestingIrvine]

If RE prices continues to stumble. You might be able to buy more for $1 mil.

Yes of course and nobody is disputing that.  In fact you will be able to buy more for $1M if RE prices stumble .  But the questions is if / when? 

 

[eyephone]

If RE prices continues to stumble. You might be able to buy more for $1 mil.

Yes of course and nobody is disputing that.  In fact you will be able to buy more for $1M if RE prices stumble .  But the questions is if / when?

You don?t see it?

 

[Kenkoko]

I live in Delano model #3 and think even at the current price it is worth it.  Obviously I'm biased but it is really hard to get a new 4 bed home in Irvine at this price range and that was the selling point.  For a family with young kids this is perfect since there are so many parks within walking distance not to mention the field and playground at Eastwood Elementary which is open to the public during non-school hours. You have (1) Eucalyptus (2) Mosaic (3) Eastwood Neighborhood and (4) Eastwood Elementary within a 2-5 minute walk all being legit parks with playgrounds, two of which have pools.  Nobody cares about yards if you have this many choices in playgrounds.

If I wanted a large yard at this price point, I would have bought in Tustin Ranch.  When you have tour buses loaded with mainland Chinese people buying homes at Delano (at least in early phase) the price will be definitely inflated.  But again, it is really hard to find a four bedroom at the current price model #3 is anywhere in Irvine.

I like Delano plan 3. My only hang-up is that it's attached and is at/near the top of the market for attached homes in Irvine. Large sqft attached homes in Irvine do not seem to appreciate as much as smaller attached homes or detached homes.

Also, it is just so much cheaper to rent in Eastwood. A new 1 mil+ Delano plan 3 rents for $3700/month...https://www.zillow.com/homedetails/138-Parkwood-Irvine-CA-92620/2088633697_zpid/

 

[TestingIrvine]

Delano is not from Irvine company

Delano is regulated by the Irvine Company.  Every builder in Eastwood Village is.  Brookfield (Delano) gets approval from TIC for every home they sell when it comes to the price.

Just curious. How do you know? Please explain.

It's true - TIC rubber stamps the pricing for every phase release in their "Villages" regardless of the builder.  As always, everything is "Masterfully Planned".

In other words. They can?t go below MSRP? Jk

Yes, I honestly think TIC won't let them go below MSRP.  If you think about Delano it is not a large development.  It's been about 1.5 years since they released phases and they're still developing. They slowing release them until there is a big enough waiting list and sell,

 

[TestingIrvine]

If RE prices continues to stumble. You might be able to buy more for $1 mil.

Yes of course and nobody is disputing that.  In fact you will be able to buy more for $1M if RE prices stumble .  But the questions is if / when?

You don?t see it?

For new homes?  Not yet. Maybe resale, but again I'm not speaking for the entire Irvine market as a whole.  Just Delano.

 

[Burn That Belly]

x

 

[eyephone]

If RE prices continues to stumble. You might be able to buy more for $1 mil.

Yes of course and nobody is disputing that.  In fact you will be able to buy more for $1M if RE prices stumble .  But the questions is if / when?

You don?t see it?

For new homes?  Not yet. Maybe resale, but again I'm not speaking for the entire Irvine market as a whole.  Just Delano.

How do we know you live in Delano?  You got a picture somewhere?

Good point.