New communities in Portola Springs

Danimal said:
It’s called educated guess. I would also say that you currently cant afford owning irvine ,let alone cielo 😎
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Maybe you should look into your definition of "educated guess" because it doesn't sound very educated. Maybe also learn to be a bit more humble. Buying in Irvine doesn't mean you are "above" non-Irvine residents and because one doesn't buy in Irvine, it doesn't mean they cannot afford it.

Anyway I'll stop there since this thread is about Portola Springs community :)
 
sleepy5136 said:
Maybe you should look into your definition of "educated guess" because it doesn't sound very educated. Maybe also learn to be a bit more humble. Buying in Irvine doesn't mean you are "above" non-Irvine residents and because one doesn't buy in Irvine, it doesn't mean they cannot afford it.

Anyway I'll stop there since this thread is about Portola Springs community :)
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Dont be so butt hurt mr fake forest. I was just messing with you. I’ll stop or you’ll start 😂.
 
We stopped by Azul and Cielo to get price sheet. It seems like IP has really slowed down or paused construction.

Azul homes are about $50k+ higher due to $50k+ additional pre-selected upgrades. There is one additional home compared to previous price sheet. All the homes listed in previous price sheet remained unsold.

For Cielo, prices for Plan 1 and Plan 3 remain unchanged. Prices for the two Plan 2 homes increased by $53k-$56k due to at least $53k additional pre-selected upgrades. IP really pushed additional upgrade costs to customers. 😂 I don't see why anyone would want to buy those homes. The fact that Plan 1 and Plan 3 prices remain unchanged points to the possibility that IP has probably paused construction on those two homes. They were Plan 2 release (homesites 31 and 32). All 4 homes from previous price sheet remained unsold as well.

Basically, none of the Azul and Cielo homes that were listed in previous price sheet was sold.
 
A little birdie told me that iPac had net cancellations in September. iPac basically acts like that foreign cash owner who rather let the home sit empty than sell it below their high price and will wait for as long as it takes to get that price.
 
usctrojancpa said:
A little birdie told me that iPac had net cancellations in September. iPac basically acts like that foreign cash owner who rather let the home sit empty than sell it below their high price and will wait for as long as it takes to get that price.
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Have they ever lowered their prices? Even during the housing fall of 2010 I only remember the other builders lowering their prices
 
usctrojancpa said:
A little birdie told me that iPac had net cancellations in September. iPac basically acts like that foreign cash owner who rather let the home sit empty than sell it below their high price and will wait for as long as it takes to get that price.
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Yep...anything that's under the guise of the Irvine Company will just sit. They don't care because they're not really losing money that way. If they want to charge 5M for a house, they will let it sit for 3 years if it has to.
 
Mawesome Sauce said:
Have they ever lowered their prices? Even during the housing fall of 2010 I only remember the other builders lowering their prices
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Sales lady at Bluffs told me IP would not lower their price, so it's likely that they did not lower their price during last crash. As Danimal pointed out, and according to my co-worker, they would just pause construction until prices start picking up again before releasing new homes. Basically, they would just sit on the land until they can get good prices for the homes.
 
They won’t lower prices for the current releases; they just offer lots of upgrades in order to move those homes. Then they’ll lower prices for subsequent release
 
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Mawesome Sauce said:
Have they ever lowered their prices? Even during the housing fall of 2010 I only remember the other builders lowering their prices
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In 2008-2009 they did lower their prices when builders threatened IP they will no longer continue working with them if they did not lower the prices. Ask Donald Bren about it, he knows.
 
teddybear said:
They won’t lower prices for the current releases; they just offer lots of upgrades in order to move those homes. Then they’ll lower prices for subsequent release
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Nope. Look at my post. Both Azul and Cielo INCREASED their price by $50k+ from a month ago because they added $50k+ worth of upgrades. Basically, they passed on the costs to buyers. And they WILL NOT lower prices for subsequent release. As people already mentioned, they will just sit on the current release and then pause construction.
 
sleepy5136 said:
In 2008-2009 they did lower their prices when builders threatened IP they will no longer continue working with them if they did not lower the prices. Ask Donald Bren about it, he knows.
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They won't lower this time because they won't have any more land in Irvine to sell to other builders. The only remaining lands are PS and OH4 and IP is building at both sites.

Well, PS will be completely built out after Azul/Cielo/Marea/Forza, all of which are IP homes. Don't know how big the OH4 land is, but Bluffs sales lady was telling me that IP is considering not selling any more land to other builders. Not sure if she meant OH4 or Orange.
 
CalBears96 said:
They won't lower this time because they won't have any more land in Irvine to sell to other builders. The only remaining lands are PS and OH4 and IP is building at both sites.

Well, PS will be completely built out after Azul/Cielo/Marea/Forza, all of which are IP homes. Don't know how big the OH4 land is, but Bluffs sales lady was telling me that IP is considering not selling any more land to other builders. Not sure if she meant OH4 or Orange.
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I would argue no builder wants to work with IP is the actual answer. There's been more stories of complaints than praises working with them for sure.
 
sleepy5136 said:
I would argue no builder wants to work with IP is the actual answer. There's been more stories of complaints than praises working with them for sure.
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The Irvine Company holds the land. If builders want to make money, they will NEED to work with TIC, whether or not they want to.
 
CalBears96 said:
The Irvine Company holds the land. If builders want to make money, they will NEED to work with TIC, whether or not they want to.
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Trust me, there are plenty of places to make money outside of Irvine. Please don't think Irvine is the only area where builders can make money.
 
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