New communities in Portola Springs

OC_relocation said:
mtvreddy said:
Azul is exactly same as Azul in Orchard hills
Cielo is same as Ravillo
All plans are with high curling and down stairs bedroom
Cielo plan 3 has guest suite
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Thank you. What would be the pricing for these? High 2m? If so, then OH 4 might be a better option.
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Azul should be low $2M. Over at OH, Azul 2 is $2.173M and Azul 3 is $2.73M, but these might be privacy or view lots.

Cielo could be mid $2M.
 
New home sales fell again in Feb, 2 months in a row. 
Anytime inflation rate jump over 5% in the last 60 years, recession followed.  Happened in 1974, 1990 & 2008.  This time will be even worst with balance sheet tightening.  Even with the highest household income in Silicon Valley, home prices dropped 5-10% beginning of 2019 after 7 rates hikes in 2017-2018. Don?t be surprised 30 yrs fixed mortgage rates jump to 6% by the end of 2022.
 
Davidlee199 said:
New home sales fell again in Feb, 2 months in a row. 
Anytime inflation rate jump over 5% in the last 60 years, recession followed.  Happened in 1974, 1990 & 2008.  This time will be even worst with balance sheet tightening.  Even with the highest household income in Silicon Valley, home prices dropped 5-10% beginning of 2019 after 7 rates hikes in 2017-2018. Don?t be surprised 30 yrs fixed mortgage rates jump to 6% by the end of 2022.
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Yeah, that's because builders are slowing down home releases. Result? Home sales falls, but home prices still climbs. By a LOT. Why? Lack of inventory.
 
Davidlee199 said:
Existing home sales fell in Feb even inventory up 2.4% from Jan. Go see some open houses on weekend if you don?t believe me. Don?t be shocked if you are the only person there.  Yes, there are NO more 20 families waiting in line to see open houses. Good luck to anyone who believe home prices will go up forever?. lol.
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You must be bitter that you missed out. No one, and I repeat, NO ONE, believes that housing prices will continue going up beyond this year. Most of us believe that housing will flatten out by the summer or end of the year, at the latest.
 
New development southwest of Big Dipper and Whispering Hills in Neighborhood 5B of Planning Area 6 (Across the street from Sierra; where the new park will be)

  • VTTM 19175 - 122 detached residential condominiums
  • VTTM 19176 - 100 single-family residences

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They'll have detached condos at 19175 and the homes at 19176 even though the best views will be at 19175?  That makes no sense.
 
USCTrojanCPA said:
They'll have detached condos at 19175 and the homes at 19176 even though the best views will be at 19175?  That makes no sense.
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Yeah, that's really odd.  SFRs on the hill would go for a lot.
 
so they can sell detached condos at inflated prices  >:D

I think it makes economical sense as they can increase the profit margin for the lower priced product if the view lot premium is fixed.

CalBears96 said:
USCTrojanCPA said:
They'll have detached condos at 19175 and the homes at 19176 even though the best views will be at 19175?  That makes no sense.
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Yeah, that's really odd.  SFRs on the hill would go for a lot.
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The California Court Company said:
so they can sell detached condos at inflated prices  >:D

I think it makes economical sense as they can increase the profit margin for the lower priced product if the view lot premium is fixed.

CalBears96 said:
USCTrojanCPA said:
They'll have detached condos at 19175 and the homes at 19176 even though the best views will be at 19175?  That makes no sense.
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Yeah, that's really odd.  SFRs on the hill would go for a lot.
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Maybe they are building homes like Highland. Keep in mind Highland homes are classified as condo even though IP calls them quasi-SFR
 
Danimal said:
The California Court Company said:
so they can sell detached condos at inflated prices  >:D

I think it makes economical sense as they can increase the profit margin for the lower priced product if the view lot premium is fixed.

CalBears96 said:
USCTrojanCPA said:
They'll have detached condos at 19175 and the homes at 19176 even though the best views will be at 19175?  That makes no sense.
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Yeah, that's really odd.  SFRs on the hill would go for a lot.
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Maybe they are building homes like Highland. Keep in mind Highland homes are classified as condo even though IP calls them quasi-SFR
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I heard those detached condos will be Hillside.
 
USCTrojanCPA said:
They'll have detached condos at 19175 and the homes at 19176 even though the best views will be at 19175?  That makes no sense.
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Not surprising. TIC has long f*ed up Portola Springs. The original master plan was better. What they actually built has been a hodgepodge but I guess more accessible to the masses.
 
bones said:
USCTrojanCPA said:
They'll have detached condos at 19175 and the homes at 19176 even though the best views will be at 19175?  That makes no sense.
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Not surprising. TIC has long f*ed up Portola Springs. The original master plan was better. What they actually built has been a hodgepodge but I guess more accessible to the masses.
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But TIC transformed it from Value Village to Village of the Year?
 
WTTCHMN said:
bones said:
USCTrojanCPA said:
They'll have detached condos at 19175 and the homes at 19176 even though the best views will be at 19175?  That makes no sense.
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Not surprising. TIC has long f*ed up Portola Springs. The original master plan was better. What they actually built has been a hodgepodge but I guess more accessible to the masses.
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But TIC transformed it from Value Village to Village of the Year?
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Portola Springs is now the poor man's Orchard Hills.  haha
 
Don?t be surprised mortgage rate will hit 6% by end of this year.  U.S. stocks are lower after Federal Reserve Governor Lael Brainerd said the central bank would "continue tightening monetary policy methodically through a series of interest rate increases" and start to reduce the balance sheet at a rapid pace as early as May. 
 
Sysko said:
CalBears96 said:
Sysko said:
Any updates on Fiore, Cielo and Azul?
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Aren't you usually the one who provides us with updates?  ;D
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Here's the websites for the 3 new IP community in PS.
https://www.irvinepacific.com/homes/portola-springs-village/azul
https://www.irvinepacific.com/homes/portola-springs-village/cielo
https://www.irvinepacific.com/homes/portola-springs-village/fiore

Pricing for all 3 communities is listed as "Coming Soon"
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Funny that Virtual Tour is just using Hillside.  ;D

Looks like Cielo is just Ravello and Fiore is upgraded Hillside.
 
First Bank is now offering new customer 3% savings rate on performance checking account.  Most cash buyers will disappear once all banks start offering 3-4% savings rate.  Why would cash buyers keep buying homes if home prices NOT going up anymore?  Besides, imagine less buyers can qualify for mortgages once mortgage rates hit 6-7% by end of this year.  Demand will be less than supply?..
Expect supply to go up in the near futurehttps://www.wsj.com/amp/articles/as...ar-time-is-running-out-to-cash-in-11649275058
 
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