Marigold at Cypress Village

[ZeroLot]

Here's the official Phase 4 Price Sheet.  All lots are sold.

Just noticed that only 3H has the highest square footage at 1993 vs 1979 and yet it's the same price at $754,600.  What a bargain!

 

[Irvine_Dreamer]

What a bargain!

You mean relatively speaking right?
Just a year ago, 2260 sq ft SFR w/ full driveway was selling at 780K, and I thought that was highway robbery.

 

[ZeroLot]

What a bargain!

You mean relatively speaking right?
Just a year ago, 2260 sq ft SFR w/ full driveway was selling at 780K, and I thought that was highway robbery.

Yes, definitely relatively speaking.  I'm still in awe how much housing prices have gone up just this year.

I've been shopping for a used home just for the past few months and it seems that the difference between a used home and a new one isn't that far apart recently. 

I was looking at new homes back when they were building Stonegate and Woodbury (looking at Mendocino, Saratoga, and San Marino) and thought those were highway robbery prices back in 2012.  Now I feel like an idiot not buying when I had a chance.

Just got a call from Mendocino the other day offering me a lot.  I said no.  Wouldn't be surprised if I look back in 2014 and wish I had said yes in 2013.

 

[ZeroLot]

Construction Update Photo on a beautiful day in Irvine.

 

[bwpunch]

Phase 6 price info:

Model#1: $734,800
Model#2: $747,200
Model#3/3x: $759,600

 

[iacrenter]

Here's Phase 1 Pricing for comparison:

The lucky new homeowners of Phase 1 already made ~$40,000 in equity and their homes are just a bunch of wooden beams at the moment.

This is true of any new construction development.  Typically the first ones in get the best deal, since the builder wants potential buyers to see the neighborhood as a thriving place where they could see their own family living.

Conversely, the last folks to stick their toe in the water are generating most of the profit for the builder, since they typically get the highest pricing in the neighborhood, least concessions (if any were offered) and have to deal with a much more robust HoA for sign off on their improvements.

That of course is assuming a booming RE economy. During the recent bust years the opposite has been true--early adopters getting shafted by the builder with later price concessions offered to late buyers.

 

[iacrenter]

Here's Phase 1 Pricing for comparison:

The lucky new homeowners of Phase 1 already made ~$40,000 in equity and their homes are just a bunch of wooden beams at the moment.

This is true of any new construction development.  Typically the first ones in get the best deal, since the builder wants potential buyers to see the neighborhood as a thriving place where they could see their own family living.

Conversely, the last folks to stick their toe in the water are generating most of the profit for the builder, since they typically get the highest pricing in the neighborhood, least concessions (if any were offered) and have to deal with a much more robust HoA for sign off on their improvements.

That of course is assuming a booming RE economy. During the recent bust years the opposite has been true--early adopters getting shafted by the builder with later price concessions offered to late buyers.

And which would you say we are in now?

No question RE is hot now. But it hasn't always been like that and even magic unicorns can have down years. Early adopters are taking a risk and prices are discounted accordingly. Caveat Emptor.

 

[usctrojancpa]

Here's Phase 1 Pricing for comparison:

The lucky new homeowners of Phase 1 already made ~$40,000 in equity and their homes are just a bunch of wooden beams at the moment.

This is true of any new construction development.  Typically the first ones in get the best deal, since the builder wants potential buyers to see the neighborhood as a thriving place where they could see their own family living.

Conversely, the last folks to stick their toe in the water are generating most of the profit for the builder, since they typically get the highest pricing in the neighborhood, least concessions (if any were offered) and have to deal with a much more robust HoA for sign off on their improvements.

That of course is assuming a booming RE economy. During the recent bust years the opposite has been true--early adopters getting shafted by the builder with later price concessions offered to late buyers.

And which would you say we are in now?

No question RE is hot now. But it hasn't always been like that and even magic unicorns can have down years. Early adopters are taking a risk and prices are discounted accordingly. Caveat Emptor.

The resale market is a good indicator of where new home prices will go in the near term.  Homebuilders are still playing some catch up with the resale market in terms of prices hence why you see price increases of .5-1% per phase release.  We are still in a seller's market and most builders have waiting listings for their homes. 

 

[iacrenter]

Here's Phase 1 Pricing for comparison:

The lucky new homeowners of Phase 1 already made ~$40,000 in equity and their homes are just a bunch of wooden beams at the moment.

This is true of any new construction development.  Typically the first ones in get the best deal, since the builder wants potential buyers to see the neighborhood as a thriving place where they could see their own family living.

Conversely, the last folks to stick their toe in the water are generating most of the profit for the builder, since they typically get the highest pricing in the neighborhood, least concessions (if any were offered) and have to deal with a much more robust HoA for sign off on their improvements.

That of course is assuming a booming RE economy. During the recent bust years the opposite has been true--early adopters getting shafted by the builder with later price concessions offered to late buyers.

And which would you say we are in now?

No question RE is hot now. But it hasn't always been like that and even magic unicorns can have down years. Early adopters are taking a risk and prices are discounted accordingly. Caveat Emptor.

RE is an investment.  Like any investment, past performance is not indicative of future returns. Anyone who has lost money on it has received a very expensive lesson on how markets work.  There are two emotions at play: fear and greed. 

If someone is overly fearful, they will potentially lose on the returns the market will offer from their reluctance to join.  They can sit by and watch others profit and shape the market.

If someone is overly greedy, they may be in a long position when others are liquidating ahead of the inflection point in the business cycle.  Similarly, putting all of your household investments into one type of financial instrument (e.g. real estate) is not a smart strategy.  There is a reason that finance classes teach the topic of diversification.

The risk is beyond market fluctuations in pricing and ROI. Many people buy a house as a home and a place to raise their family. Additional risks include but are not limited to:

1) First phase buyers do not know if or when their community and amenities will be built out
2) Dealing with construction noise, pollution, visual eye sore for an extended and unknown period of time
3) Unknown quality of construction that has not stood the test of time
4) Unknown environmental factors not initially detected/disclosed by the developer
5) You will not know who your neighbors will be or the life-style/vibe of the community
6) Unknown if or when surrounding master planned developments will be built out, including schools, trails, public parks, nearby retail centers etc...

 

[test]

This Siena Plan 3 is comparable to Marigold Plan 1
http://www.redfin.com/CA/Irvine/54-Bianco-92618/home/40099657

Siena Plan 3:
3 Bed, 2.5 Bath, 1,788 sqft
HOA: $295
AD Tax: $3,063
CFD Tax: $1,700
Price: $849,000

Marigold Plan 1:
3 Bed, 2.5 Bath, 1,840 sqft
HOA: $129
AD Tax: $1,670
CFD Tax: $1,700
Price: $734,800

 

[bwpunch]

Phase 7 Pricing:

Residence 1: 737,800
Residence 2: 750,200
Residence 3/3x: 762,600

 

[bwpunch]

Phase 8
Model#1 738,800 - 753,800
Model#2 753,200 - 768,200
Model#3/3x 765,600 - 780,600

Phase 9
Model#1 739,800 - 759,800
Model#2 756,200 - 776,200
Model#3/3x 768,600 - 788,600

Phase 10
Model#1 740,800
Model#2 759,200
Model#3/3x 771,600

 

[YellowFever]

.

 

[homer_simpson]

I visited these units and for the price, I'm not too impressed.  Bedrooms are too small a bit for the high prices.  I hope Jade Court or Caserta will offer better value.

Little hard comparing an attached product to a detached product.

 

[test]

Marigold has the California Court premium (only 1 HOA fee)

 

[eyephone]

This Siena Plan 3 is comparable to Marigold Plan 1
http://www.redfin.com/CA/Irvine/54-Bianco-92618/home/40099657

Siena Plan 3:
3 Bed, 2.5 Bath, 1,788 sqft
HOA: $295
AD Tax: $3,063
CFD Tax: $1,700
Price: $849,000

Marigold Plan 1:
3 Bed, 2.5 Bath, 1,840 sqft
HOA: $129
AD Tax: $1,670
CFD Tax: $1,700
Price: $734,800

Low HOA is a plus. That's one of the first questions a buyer asks when looking at a property.

 

[YellowFever]

.

 

[Chairman]

Pricing is getting soft. Notice the increase for each phase is less and less.

 

[YellowFever]

.

 

[ZeroLot]

Assuming Caserta is mid-550's for the plan 2 or 3, 1600 sq. ft., is Marigold worth the extra $180k price tag for having the detachment? 

I guess it all depends how attached Caserta is and whether or not one can hear your neighbor's bedroom at night?  I have to check how badly I want a detached unit as for the same $550-600k, I could just go to oak creek for the low hoa as well.  But I like to buy things new  ;D

It's a shame, Caserta has nice floor plans but not for low-600's.  I like the Plan 2 but at the end of the day it's still two association fees + attached.  The price is before options too.

I think that makes Caserta one of the most expensive townhomes in Irvine.