And unlike Woodbury, the builders are offering a broker co-op (from what one of my buyers told me).Irvine2Irvine said:And much larger lots. They were also offering $45K design center credit, which I am sure will not be offered any more if they do build more houses.
Are you sure about that? I've seen several Quail Hill and Northwood II homes sell above $1m in the past 6 months. I think the problem is the location of Portola Springs (it's IAC's ugly step-child), not the homes being $1m.iacrenter said:From what I've read lately--there doesn't seem to be much of a market for $1M+ McMansions anymore. Do you think they will sell? They better find some better FCBs or offer their own jumbo financing.
You said the re-sale buyer market above $1m in Irvine is dead and I'm telling you that is it not dead. About 1/4 home purchases of $1m+ in Irvine in the past 6 months are all cash. It's the Shady Canyon homes that keep sitting on the market (because they are overpriced) but that's a whole other market.jumpcut said:Not sure I understand this comment. I think not having renters around would be a plus. Once TIC builds this thing out, including the retail center, it should hold it's own.USCTrojanCPA said:Are you sure about that? I've seen several Quail Hill and Northwood II homes sell above $1m in the past 6 months. I think the problem is the location of Portola Springs (it's IAC's ugly step-child), not the homes being $1m.iacrenter said:From what I've read lately--there doesn't seem to be much of a market for $1M+ McMansions anymore. Do you think they will sell? They better find some better FCBs or offer their own jumbo financing.
I won't take that bet because I totally agree with you. Portola Springs will price at a premium to Woodbury, even with the higher Mello Roos, once it is fully built out and TIC gives it the marketing that it needs. It's just gonna take some time. People buying into Portola Springs will be rewarded more than people buying into Woodbury and Stonegate.Patrick Star said:USCTrojanCPA said:I think the problem is the location of Portola Springs (it's IAC's ugly step-child), not the homes being $1m.
I'll bet you $1 that in 10 years Portola Springs holds a HUGE premium to the WB/WBE high density flatlands. The hillside location, the sure to be beautiful private HS being built on the corner of Sand Canyon/Portola --- and the assignment to Northwood HS? No doubt in my mind that PS will be the long term winner. Kind of like if you were shopping for a new home in 1997-99....you might have had a choice between Northwood Pointe or Oak Creek. I bet lots of folks thought Northwood Pointe was out in the boonies at the time. Who's got the premium of those two locations now?
Patrick Star said:USCTrojanCPA said:I think the problem is the location of Portola Springs (it's IAC's ugly step-child), not the homes being $1m.
I'll bet you $1 that in 10 years Portola Springs holds a HUGE premium to the WB/WBE high density flatlands. The hillside location, the sure to be beautiful private HS being built on the corner of Sand Canyon/Portola --- and the assignment to Northwood HS? No doubt in my mind that PS will be the long term winner. Kind of like if you were shopping for a new home in 1997-99....you might have had a choice between Northwood Pointe or Oak Creek. I bet lots of folks thought Northwood Pointe was out in the boonies at the time. Who's got the premium of those two locations now?
USCTrojanCPA said:I won't take that bet because I totally agree with you. Portola Springs will price at a premium to Woodbury, even with the higher Mello Roos, once it is fully built out and TIC gives it the marketing that it needs. It's just gonna take some time. People buying into Portola Springs will be rewarded more than people buying into Woodbury and Stonegate.Patrick Star said:USCTrojanCPA said:I think the problem is the location of Portola Springs (it's IAC's ugly step-child), not the homes being $1m.
I'll bet you $1 that in 10 years Portola Springs holds a HUGE premium to the WB/WBE high density flatlands. The hillside location, the sure to be beautiful private HS being built on the corner of Sand Canyon/Portola --- and the assignment to Northwood HS? No doubt in my mind that PS will be the long term winner. Kind of like if you were shopping for a new home in 1997-99....you might have had a choice between Northwood Pointe or Oak Creek. I bet lots of folks thought Northwood Pointe was out in the boonies at the time. Who's got the premium of those two locations now?
irvinehomeowner said:Do you know if they built a model for the new Plan 1?
ak said:Does anyone know if Taylor Morrison is providing the same incentives as they did in their previous phase? They were
offering $40K in upgrade credit, 3% broker co-op and $10K in closing cost credit if buyer used there in house lender.
Thank you all for your help on this.
ps99472 said:We visited this weekend, no mention of any incentives... plan 1 now has a downstairs bedroom that is not displayed in their model... i think they pushed the family room out more into the yard and was able to squeeze a bedroom between the garage and family room.. i'll try to scan a pic later... Didn't like the separated living room.. that is a wasted space... otherwise not too bad for a million dollar home.. too bad it's in Portola.. HOA is $150... first phase release backs onto the main street leading into the upper enclave... lot sizes seems adequate for Irvine...