New communities in Portola Springs

irviniteeee said:
Wow. I can't really see any easily identifiable upgrades either. Maybe the counter & backsplash? Also unsure if that rectangular tile is standard or not. Either way, it's not very upgraded for that price...but if someone grabs it then good for them for getting that crazy amount I guess.
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Looking at the pictures, my guess is they upgraded kitchen countertops (standard is Frost-N quartz), backsplashes, shower walls to the ceiling, and tiles. I don't know what standard tiles IP used, but the standard tiles from Shea are 13"x13". These look larger than that, and they're rectangular, so the tiles are probably upgrades.
 
CalBears96 said:
I have the price sheet for 119 Sunnyslope and it was $2.9M. They got into contract in April 2023. Don't know if they did any upgrades, but seems like they did some landscaping, but yeah, they paid less than $3M.
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Seems like the listing agent edited the photos so that it looks like they added artificial turf in the backyard in the listing photos but they didn't actually do any landscaping except for the few plants that are already included by IP at the front, @CalBears96 is Shea still including some plants at the front for Cielo like IP?
 
Yoda said:
Seems like the listing agent edited the photos so that it looks like they added artificial turf in the backyard in the listing photos but they didn't actually do any landscaping except for the few plants that are already included by IP at the front, @CalBears96 is Shea still including some plants at the front for Cielo like IP?
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I just expected that they would, but that's a good question to ask when I meet with sales lady this weekend.
 
CalBears96 said:
I have the price sheet for 119 Sunnyslope and it was $2.9M. They got into contract in April 2023. Don't know if they did any upgrades, but seems like they did some landscaping, but yeah, they paid less than $3M.
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I think the grass was virtual and there's no landscaping and there doesn't seem to be many upgrades in the home so I'm pretty sure they purchased it for less than $3m.
 
Liar Loan said:
You bought a multi-million dollar home at the worst possible moment. That's fine but it means you aren't seeing clearly on Irvine any longer. You need me to be wrong, but the facts say otherwise.
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The home that I was looking for was basically a needle in a haystack and I haven't seen a comparable home hit the market since then. It wasn't a matter of when the home came onto the market but if it checked all my "must-have" boxes. That being said, given the closed comps of homes that needed a full renovation in my tract in the past year I'd be able to sell my home today for more than I paid for it but I have no intent to sell the home anytime soon so it really doesn't matter who the value is today.
 
Liar Loan said:
This is moving the goal posts. @usctrojancpa claimed that Irvine outperformed "most all" cities. I then proceeded to show that Laguna, Newport, and even lowly Santa Ana must not be included in "most all" cities because they destroyed Irvine in terms of appreciation.
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Not moving the goal posts, Irvine has outperformed Orange County as a whole which means that it has outperformed most all of the cities in Orange County not all.
 
usctrojancpa said:
Not moving the goal posts, Irvine has outperformed Orange County as a whole which means that it has outperformed most all of the cities in Orange County not all.
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I agree, Irvine is a strong market in comparison to the other cities in OC probably because of the FCB demand and I haven't heard of any seller losing money on a Irvine home sale so far and the sellers in Irvine are continuing to be able to sell their homes for more than what they purchased them for which is a nice ROI.
 
Yoda said:
I agree, Irvine is a strong market in comparison to the other cities in OC probably because of the FCB demand and I haven't heard of any seller losing money on a Irvine home sale so far and the sellers in Irvine are continuing to be able to sell their homes for more than what they purchased them for which is a nice ROI.
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Irvine prices are artificially inflated for some time now. Recently the inventory side is artificially low. Everything will be fine until it’s not.

When an RE investment relies on non-native buyers to prop prices up, that’s not something I would invest in. Primary residence however can be different if you plan to stay for a LONG time. There are definitely better returns outside of Irvine. Tract homes pass 2.5m dollars with no view makes zero sense
 
Non-native buyers aren't the only group buying in Irvine. Orange County now supports a sizable base of highly compensated individuals working in industries from tech to real estate to financial services. Look to neighboring Los Angeles County for where housing prices can go. I pick Cheviot Hills as an example of an older neighborhood that is centrally located to high paying jobs in WLA. Most people would not consider Cheviot Hills high end but homes there sell for over $1,000/sf and rebuilds selling in the $3 million range are not unusual. Everything is relative.
 
The Motor Court Company said:
That looks like a plan 2 and I really like the idea that upstairs LOFT is overlooking the open to above greatroom; makes everything looks more open and spacious.

But I still prefer unicorns like USC’s current house…
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Yes, it's Plan 2. I remember I liked Ravello Plan 2 the most because the more open and spacious loft. However, after seeing how the glass stair rail not looking good at our Bluffs home, we didn't like Cielo Plan 2 as much as Plans 1 and 3.

When IP was selling Cielo, Plan 1 was the least popular. However, after Shea changed to glass stair rail, Plan 1 is becoming really popular now. You can see the difference when you enter the house, when you look through the glass stair case to the high ceiling in the great room. It makes it look really spacious. The volume high ceiling really helps, as opposed to the vaulted high ceiling at Ravello.
 
usctrojancpa said:
The home that I was looking for was basically a needle in a haystack and I haven't seen a comparable home hit the market since then. It wasn't a matter of when the home came onto the market but if it checked all my "must-have" boxes. That being said, given the closed comps of homes that needed a full renovation in my tract in the past year I'd be able to sell my home today for more than I paid for it but I have no intent to sell the home anytime soon so it really doesn't matter who the value is today.
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Reminder: It was you who said that Irvine would outperform inflation.

Sure you could sell it for more than you paid, but the value of the dollar has eroded 15% since April 2021. You are still losing money.

If a principal residence is nothing but a consumer item, it doesn't matter. Most people (if they are being honest) view it at least partially as an investment, and from a MaxROI perspective Irvine has not done well. (Neither has Tustin for that matter, and your decision to keep that as an investment at the peak of history's largest bubble was insanity.)
 
usctrojancpa said:
The home that I was looking for was basically a needle in a haystack and I haven't seen a comparable home hit the market since then. It wasn't a matter of when the home came onto the market but if it checked all my "must-have" boxes. That being said, given the closed comps of homes that needed a full renovation in my tract in the past year I'd be able to sell my home today for more than I paid for it but I have no intent to sell the home anytime soon so it really doesn't matter who the value is today.
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People who are familiar with Irvine, especially Turtle Rock, will completely understand what you're saying. The house you snagged is not the norm.
 
Liar Loan said:
Reminder: It was you who said that Irvine would outperform inflation.

Sure you could sell it for more than you paid, but the value of the dollar has eroded 15% since April 2021. You are still losing money.

If a principal residence is nothing but a consumer item, it doesn't matter. Most people (if they are being honest) view it at least partially as an investment, and from a MaxROI perspective Irvine has not done well. (Neither has Tustin for that matter, and your decision to keep that as an investment at the peak of history's largest bubble was insanity.)
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LL: now you’re backtracking again.
You were criticizing people buying primary homes and USC always said nobody cares about the investment side of their primary home (to paraphrase).

Now “principle residence…doesn’t matter”????? HA! Did your just rug pull everyone? I’m going to save this new screenshot!
 

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irvine buyer said:
Non-native buyers aren't the only group buying in Irvine. Orange County now supports a sizable base of highly compensated individuals working in industries from tech to real estate to financial services. Look to neighboring Los Angeles County for where housing prices can go. I pick Cheviot Hills as an example of an older neighborhood that is centrally located to high paying jobs in WLA. Most people would not consider Cheviot Hills high end but homes there sell for over $1,000/sf and rebuilds selling in the $3 million range are not unusual. Everything is relative.
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Tell me 3 homes in the last year that were not purchased by FCB in the 3M+ price range

What is the average lot size in LA vs Irvine tract homes? RE is about how much land you own. If it’s 3m for 6k+ sqft versus olive wood 3.5k-4K that’s a big difference.
 
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