Parasol Park

[IHS3000]

A few days ago, I obtained these updated price sheets for Carlisle (models for sale now) and Obsidian.

 

[IHS3000]

Amethyst at Parasol Park is now selling their models. Looks like the Celadon, Obsidian and Windchime will be the last ones to go.

 

[Prototype]

Whoa! Thanks for the info IHS3000!!!!

 

[IHS3000]

Just found out a few days ago that Sterling?s non-models are all sold or reserved. Sterling models are possibly scheduled to go on sale on the last week of March.

Celadon at Parasol Park are sold out.

Carlisle reserved or sold a few models including a Residence 2 (sales office) and a Residence 4 (2 story).

Lastly, Obsidian is almost 2/3 sold or reserved and  Windchime residence 4 and 5 are temporarily sold out.

Update since Parasol Park?s grand opening in January 2017:

Detached

1. Somerset (sold out)
2. Julep (sold out)
3. Carlisle (models for sale)
4. Jade (models for sale)
5. Obsidian (still selling)


Attached

1. Lanterns (sold out)
2. Celadon (sold out)
3. Amethyst (models for sale)
4. Sterling (models for sale by 3/31/18)
5. Windchime (still selling - opened in 4/22/2017)

 

[IHS3000]

Nice photos of ?The Pools,? a new private water park at GPN were recently placed online.
https://www.instagram.com/p/Bft67QHlQB7/
https://www.instagram.com/p/BfcEw1IjQiw/

For reference, check out the previous TI page on the water park and see how the plans changed from the concept photos which initially had a community garden and amphitheater (amphitheater will be at Cadence Park).
http://www.talkirvine.com/index.php/topic,14467.0.html

The Pools is sandwiched between the Ellwood homes (Newington St.) and Somerset homes (Cadence St.) and the features reminded me of a resort with pools, fire pits and cabanas. A person will also need a GPN key fob to access all the pools and restrooms.

IHO, I also noticed less people traffic in Parasol Park since the private  water park?s opening in January.

The playground was nice like the obstacle course, little maze, Viking swing and water pump, but those rocks could be a hazard for kids, especially with those fun house mirrors.

The big circular lawn, seating areas and different landscaping like the cactus was a nice addition.

The fitness area of water park was impressive and it was packed with people of all ages over the weekend. I foresee a lot of aspiring American Ninja Warriors, commercial boot campers and personal trainers running around over there. People might have to wait their turn to be Rocky for those punching speed bags!

A couple of weekends ago, I also ran into the 5 Point survey people at Parasol Park. The survey people showed me artist concept photos of Jade (Parasol Park), Melody (Beacon Park - colonial elevation) and some attached model condo concepts that I never seen before. The survey people asked which elevation that I wanted to see in future Great Park developments. They also asked about future tandem garage developments and I said no thanks and brought up a desire for more personal driveways 

 

[IHS3000]

New Honors For FivePoint's Parasol Park at Great Park Neighborhoods In Irvine, California
http://www.nbc-2.com/story/37620206...great-park-neighborhoods-in-irvine-california
http://www.bestinamericanliving.com/showpage_details.aspx?showPageID=43314
http://www.bestinamericanliving.com/page.aspx/generic/sectionID=3054
http://www.bestinamericanliving.com/page.aspx/generic/sectionID=3060

http://www.24-7pressrelease.com/pre...neighborhoods-in-irvine-california-451158.php


March 01, 2018

?Parasol Park in Irvine, California has earned five new honors for community design and homebuyer outreach in two of homebuilding's most prestigious and competitive national competitions. Judges of the Best In American Living Awards (BALA) named FivePoint's third Great Park Neighborhood a Gold Award winner for design/planning of a single-family community of 100 homes or more. The Nationals bestowed a Gold on Parasol Park's radio campaign and Silver Awards for its welcome center, signage and landscape design...?

?Parasol Park has sold 590 of its 727 homes, with three of its 10 collections sold out.?

Note: four collections are now sold out - Celadon, Somerset, Julep and Lanterns

 

[freedomcm]

congrats!

 

[irvinebullhousing]

The parks and pools are just as innovative and clever in design as it get. Great for GP homeowners.

 

[IHS3000]

Last week, Five Point announced Parasol Park was ?more than 90% sold out? as of March 2018 (grand opening for Parasol Park was in January 2017).
https://www.businesswire.com/news/h...nt-Holdings-LLC-Announces-Fourth-Quarter-2017

Amethyst appears to be sold out (map attached). Last week, they only had one Amethyst home available. The Amethyst model parking lot was recently removed too.

A Tri Pointe rep told me that the Sterling models could possibly start selling in a couple weeks, or by the end of this month.

Carlisle has a couple of models that are still available  (Residence 3 with a third floor deck and a Residence 4 with no deck). I attached the Carlisle Phase 2 price sheet from last year and the current Carlisle model price sheet for comparison.

Last week, at the Cadence Park opening, a  K Hov rep estimated Bambino, their smallest Deco (like Carlisle - Residence 1) at Cadence Park could be mid $700k and their Pontiac (like Carlisle - Residence 3 with a third floor deck) could be mid $900k.

Jade looks sold out (map attached), but there is construction for a few new homes on the former Jade model parking lot. I wonder if those Jade homes are sold.

Lennar?s Obsidian and Windchime are still selling non-model homes at Parasol Park.

Here is some information of ?The Pools? park near Parasol Park and Beacon Park and a aerial photo of Parasol Park, Beacon Park and the Great Park?s Upper Bee and Bosque trails.

 

[Kings]

Are those price sheets for real? No wonder there are so many GP homes coming up for sale so quickly.  That's almost $200k appreciation (30%) in 1 year for Residence 1 and $400k (50%) for Residence 4.  Granted, they're models selling now, but still.

 

[IHS3000]

Are those price sheets for real? No wonder there are so many GP homes coming up for sale so quickly.  That's almost $200k appreciation (30%) in 1 year for Residence 1 and $400k (50%) for Residence 4.  Granted, they're models selling now, but still.

I was wondering the same thing about the significant price differences when comparing the Carlisle?s initial phases and the model prices. The builders do seem to aim for the moon when they price these models and then let the market sort it out.

In earlier posts of this thread and other threads, Irvinehomeshopper stated Carlisle was ?priced below comp? and ?choice bet for it's best value?  and  ?right horse to bet on? like Trellis Court and Ellwood.

Hopefully, we see more future products initially priced below comp!

IHB posted Carlisle?s initial prices in their review back in February 2017:
http://www.irvinehousingblog.com/2017/02/16/parasol-park-carlisle-collection-review/

?Prices start from $684,900 for Residence 1; $735,900 for Residence 3 ($801,900 with optional third floor); $749,900 for Residence 4 ($818,900 with optional third floor)?

Compare it to the present Carlisle?s model prices on the builder site:
https://www.tripointehomes.com/southern-california/carlisle-at-parasol-park/

For more comparison, I also attached Lennar?s Lanterns -initial price sheet from December 2016 and one of their final model sheets from October 2017 (Lanterns was the second Parasol Park community to sell out after Somerset).

 

[newPParker]

Are those price sheets for real? No wonder there are so many GP homes coming up for sale so quickly.  That's almost $200k appreciation (30%) in 1 year for Residence 1 and $400k (50%) for Residence 4.  Granted, they're models selling now, but still.

I was wondering the same thing about the significant price differences when comparing the Carlisle?s initial phases and the model prices. The builders do seem to aim for the moon when they price these models and then let the market sort it out.

In earlier posts of this thread and other threads, Irvinehomeshopper (architect of Carlisle) stated Carlisle was ?priced below comp? and ?choice bet for it's best value?  and  ?right horse to bet on? like Trellis Court and Ellwood.

Hopefully, we see more future products initially priced below comp!

IHB posted Carlisle?s initial prices in their review back in February 2017:
http://www.irvinehousingblog.com/2017/02/16/parasol-park-carlisle-collection-review/

?Prices start from $684,900 for Residence 1; $735,900 for Residence 3 ($801,900 with optional third floor); $749,900 for Residence 4 ($818,900 with optional third floor)?

Compare it to the present Carlisle?s model prices on the builder site:
https://www.tripointehomes.com/southern-california/carlisle-at-parasol-park/

For more comparison, I also attached Lennar?s Lanterns -initial price sheet from December 2016 and one of their final model sheets from October 2017 (Lanterns was the second Parasol Park community to sell out after Somerset).

having to pay property tax on all  those upgrades built into home price - year after year - doesn't make sense to me but I am a person on budget, and I am sure there are people with throw away hail mary money that is not constrained by these thoughts.

 

[IHS3000]

Are those price sheets for real? No wonder there are so many GP homes coming up for sale so quickly.  That's almost $200k appreciation (30%) in 1 year for Residence 1 and $400k (50%) for Residence 4.  Granted, they're models selling now, but still.

I was wondering the same thing about the significant price differences when comparing the Carlisle?s initial phases and the model prices. The builders do seem to aim for the moon when they price these models and then let the market sort it out.

In earlier posts of this thread and other threads, Irvinehomeshopper (architect of Carlisle) stated Carlisle was ?priced below comp? and ?choice bet for it's best value?  and  ?right horse to bet on? like Trellis Court and Ellwood.

Hopefully, we see more future products initially priced below comp!

IHB posted Carlisle?s initial prices in their review back in February 2017:
http://www.irvinehousingblog.com/2017/02/16/parasol-park-carlisle-collection-review/

?Prices start from $684,900 for Residence 1; $735,900 for Residence 3 ($801,900 with optional third floor); $749,900 for Residence 4 ($818,900 with optional third floor)?

Compare it to the present Carlisle?s model prices on the builder site:
https://www.tripointehomes.com/southern-california/carlisle-at-parasol-park/

For more comparison, I also attached Lennar?s Lanterns -initial price sheet from December 2016 and one of their final model sheets from October 2017 (Lanterns was the second Parasol Park community to sell out after Somerset).

having to pay property tax on all  those upgrades built into home price - year after year - doesn't make sense to me but I am a person on budget, and I am sure there are people with throw away hail mary money that is not constrained by these thoughts.

Me too! I?d like to choose my own upgrades (not gray) and not pay taxes on them for decades. This stuff adds up. I think the furniture is included in the Carlisle models, too.

 

[Jantoven]

Me too! I?d like to choose my own upgrades (not gray) and not pay taxes on them for decades. This stuff adds up. I think the furniture is included in the Carlisle models, too.

Having to pay mortgage interest and property taxes on furniture doesn't sound particularly ideal.. haha.

 

[IHS3000]

Updated information and price sheets/maps from Sterling and Windchime. A lot of homes are sold out.

Can you believe those prices went up in a short time!

Here are the intitial prices from IHB last year for comparison:

Sterling
http://www.irvinehousingblog.com/2017/05/23/parasol-park-sterling-collection-review/

Residence 1:  $574,900
Residence 1X: $586,900
Residence 2: $655,900
Residence 2X: $657,900
Residence 3: $689,900
Residence 3X: $750,900
Residence 4: $713,900
Residence 4X: $773,900

Windchime
http://www.irvinehousingblog.com/2017/06/01/parasol-park-windchime-collection-review/

Residence 1:  $639,990
Residence 2: $714,990
Residence 3: $689,990
Residence 4: $754,990
Residence 5: $874,990

Sterling is down to a couple of homes before the models go for sale and Windchime has a couple of phases to go.

I like the Sterling?s initial prices and floor plans more like the models with two decks, but the Windchimes are closer to the new pools.

 

[Cares]

Windchime Model 5 just had one sell in Phase 9 for $999k. Sales rep told me to expect Phase 10 (last one) to sell for $1.04M because it has a front patio whereas Phase 9 did not.

Crazy insane prices for ATTACHED condos. I must admit though, walking into those models it's easy to fall in love with the interior. It's large and feels like a SFH.

 

[Burn That Belly]

x

 

[Cares]

$1M bucks for 4bedroom 2744 sqft attached is a damn good deal still. No complaining is warranted. Because over at Eastwood, $1M attached 4bed only gets you 1918sqft.

While I'm new to Irvine real estate, it's just crazy to me that an attached is so high when compared to a detached. What do you estimate 2744 sqft on a detached in Irvine would be? $2M? In other areas, Santa Monica, beach cities, etc., a detached fetches upwards of 3-5x the attached price.

So to me, it seems quite overpriced but like I said I'm new to the market.

 

[Burn That Belly]

x

 

[Cares]

$1M bucks for 4bedroom 2744 sqft attached is a damn good deal still. No complaining is warranted. Because over at Eastwood, $1M attached 4bed only gets you 1918sqft.

While I'm new to Irvine real estate, it's just crazy to me that an attached is so high when compared to a detached. What do you estimate 2744 sqft on a detached in Irvine would be? $2M? In other areas, Santa Monica, beach cities, etc., a detached fetches upwards of 3-5x the attached price.

So to me, it seems quite overpriced but like I said I'm new to the market.

What city are you originally from?

Irvine is expensive known for its:

-Masterfully planned communities
-Overachieving high-scoring Asian children making high schools ranked top-tier in the nation
-Huge influx of foreign cash buyers pouring money into homes for vacation home, empty investment home, or for their parachute kids, which results in further driving up prices
-#2 safest city in California
-median household income of $90k compared to Los Angeles' $55k
-UCI

So when you put that formula all together, it's easy to see why prices are high as it is.

Cerritos currently. Evaluating a move to Irvine while renting out my current primary.

And I'm not talking LA county as a whole. Look at all LA county beach cities or high rent markets like Brentwood/Westwood and median income is easily triple that of LA county.