Laguna Altura, Irvine Co.?s success stories

I read that article in the paper... it started out as a success story for TIC as a whole to start selling new homes in 2010 and says that each year they have sold more (although I doubt 2011's numbers)... but then it ended up as an ad for Laguna Altura.

It tries to make you think LA has sold well... but if you compare LA's sell-through to the Woodbury New Home Collection, the pace isn't the same. It doesn't say it in the online article, but in the paper, it says one of the LA tracts "has already sold out and others are close", but when they detailed the numbers at the end of the article:
Total homes in the Village of Laguna Altura: 597
Neighborhoods within Laguna Altura and sales as of Nov. 26:
Siena (195 total homes) ? low $600,000s
Number of homes that have closed escrow: 37
San Remo (164 total homes) ? high $600,000s
Number of homes that have closed escrow: 32
Toscana (86 total homes) ? low $1 millions
Number of homes that have closed escrow: 41
Cortona (152 total homes) ? low $1 millions
Number of homes that have closed escrow: 44
Click to expand...
Only Toscana is close to 50% sold.

The more you read it, the more it looks like "Please buy in Laguna Altura... it doesn't sell as well as the other TIC hoods".
 
So Toscana has the other 40+ in escrow?

Another thing to consider, LA has been open since May 2011. I don't remember any New Home Collection tract with the same home count taking over a year and a half to sell through.

Hasn't Stonegate's cousin tracts sold faster than LA?
 
Obviously someone paid the OC Register for an ad that looks like an article...This happens more than you think.  That's why forums like this are more informative than newspapers.  Atleast here you can call someone out on it.
 
Stonegate sold WAY more quickly.  We bought in Maricopa which is completely sold out now.  Cousin Cortona is still selling.    Same with the other developments. 
 
My wife and I were looking at Sienna but the proposed of $290 HOA turned us away. I believe a similar model in Stonegate had a more modest HOA of approximately $120.
 
Also sucks that Siena and San Remos are basically motor court homes. They really do look like condos from the outside. When you go over to Cortona, they actually look like SFHs, but close to a mill (with options). The SFHs don't look THAT great either. If you saw them from the outside, they look like they're worth maybe 700k? I guess the plus side is that it feeds into Uni High.
 
irvinehomeowner said:
I read that article in the paper... it started out as a success story for TIC as a whole to start selling new homes in 2010 and says that each year they have sold more (although I doubt 2011's numbers)... but then it ended up as an ad for Laguna Altura.

It tries to make you think LA has sold well... but if you compare LA's sell-through to the Woodbury New Home Collection, the pace isn't the same. It doesn't say it in the online article, but in the paper, it says one of the LA tracts "has already sold out and others are close", but when they detailed the numbers at the end of the article:
Total homes in the Village of Laguna Altura: 597
Neighborhoods within Laguna Altura and sales as of Nov. 26:
Siena (195 total homes) ? low $600,000s
Number of homes that have closed escrow: 37
San Remo (164 total homes) ? high $600,000s
Number of homes that have closed escrow: 32
Toscana (86 total homes) ? low $1 millions
Number of homes that have closed escrow: 41
Cortona (152 total homes) ? low $1 millions
Number of homes that have closed escrow: 44
Click to expand...
Only Toscana is close to 50% sold.

The more you read it, the more it looks like "Please buy in Laguna Altura... it doesn't sell as well as the other TIC hoods".
Click to expand...

This article is misleading, for new home sale there is a big difference between "sold" and "close escrow". Toscana was sold out last Oct/Nov. while the people signed contract in August will close escrow in Feb.
 
This is technically correct, but is misleading. The popularity of New homes should be measured by amount available, not amount sold. Try if you can get any of Toscana now.
 
How is it misleading? The OC Register should have reported how many available, how many closed escrow and how many are in escrow.

And while Toscana may not be available, that probably says more about bigger new homes in Irvine... the rest of Laguna Altura is still selling slowly.
 
Toscana has the best location. The HOA park pretty much is only for Toscana residents to enjoy and Toscana is the furthermost away from 405. Plus Toscana only has 70 units or so.

irvinehomeowner said:
How is it misleading? The OC Register should have reported how many available, how many closed escrow and how many are in escrow.

And while Toscana may not be available, that probably says more about bigger new homes in Irvine... the rest of Laguna Altura is still selling slowly.
Click to expand...
 
Hello all,

I was just looking at Cortona at Laguna Altura,  looks like the prices at increased from "high 800's" to "low 1 million", is that an accurate price increase in just one year span?  ???

 
8%?!  that's incredible!  Do you own there?

I am interested in purchasing, but the price is steep.    Looks like the prices have nowhere to go but up.  Bubble waiting to burst?
 
irv81 said:
8%?!  that's incredible!  Do you own there?

I am interested in purchasing, but the price is steep.    Looks like the prices have nowhere to go but up.  Bubble waiting to burst?
Click to expand...

When real estate gains outpace the rate of inflation by over two to one the answer is quite clear that it is unsustainable growth and the prices have nowhere to go but down. Didn't people learn anything from the recent burst from 2007-2009?  Granted, irvine does seem to have a little special sauce though.
 
You must log in or register to reply here.
Back
Top