Stale Irvine Pacific Designs

[soysen]

More of the same coming in PS III, Eastwood, and CV East. Irvine Pacific confuses people that desire new 700k homes with people that love their stale design. I would say people put up with the stale designs because choices are limited, not because everyone loves their Jasmine, Helena, Cambria, Los Altos, And the ten other uninspriring designs, all of which have exactly the same floor plans. It's embarrassing.

This post, a rant from a defeated, Cool aid drinking, drone.

 

[ps99472]

Big ass single room downstairs, laundry up..  That's pretty much what the general public wants:  see TV from kitchen, fit 20 people into great room, open up to CA room to crowd 30 people in, and quickly close it as flies and mosquitos fly into house. 

I see the appeal of the great room as well, walls suck, who needs privacy?

But I do need my ceiling space......

 

[AW]

Crampness makes it worse. What's next, 1 ft setbacks, 10 deep shared motorcourts.
Thank goodness for BP, BR and GW, yay!

 

[iacrenter]

Build it, price it right, and the sheeple will buy en masse.

TIC marketing geniuses have brainwashed buyers to accept uninspiring designs and postage stamp lots.

BP would be more of a threat if it wasn't for the kryptonite around their neck -- high MR.

 

[soysen]

Build it, price it right, and the sheeple will buy en masse.

TIC marketing geniuses have brainwashed buyers to accept uninspiring designs and postage stamp lots.

BP would be more of a threat if it wasn't for the kryptonite around their neck -- high MR.

High MR can easily be countered with lower home prices. I'm sure they would still make a nice profit regardless.

 

[iacrenter]

Build it, price it right, and the sheeple will buy en masse.

TIC marketing geniuses have brainwashed buyers to accept uninspiring designs and postage stamp lots.

BP would be more of a threat if it wasn't for the kryptonite around their neck -- high MR.

High MR can easily be countered with lower home prices. I'm sure they would still make a nice profit regardless.

As you probably already know, builders loathe price decreases. BP didn't create enough sales momentum from phase I. They misjudged the market and now they are playing catchup. They are placing homes on MLS, will then increase broker coops, then offer design credits/free upgrades, lower mortgage rates etc...only if all that fails will they consider price drops.

Future TIC developments will be smarter from day one and price at or slightly below BP levels while offering lower MR. The downside for TIC buyers will be boring designs and closet size backyards.

 

[Perspective]

Build it, price it right, and the sheeple will buy en masse.

TIC marketing geniuses have brainwashed buyers to accept uninspiring designs and postage stamp lots.

BP would be more of a threat if it wasn't for the kryptonite around their neck -- high MR.

High MR can easily be countered with lower home prices. I'm sure they would still make a nice profit regardless.

Ordinarily, this is the case. However, Beacon Park's double mello roos are special. They provide the unique feature of rising and compounding 2% annually for the next few decades. Therefore, pretty dramatic price decreases are necessary to offset this burden. They'd probably rather slog through sales for a few years.

 

[irvinehomeowner]

#DoubleMelloRoosFriday

#InBeforebones

 

[eyephone]

Build it, price it right, and the sheeple will buy en masse.

TIC marketing geniuses have brainwashed buyers to accept uninspiring designs and postage stamp lots.

BP would be more of a threat if it wasn't for the kryptonite around their neck -- high MR.

High MR can easily be countered with lower home prices. I'm sure they would still make a nice profit regardless.

Ordinarily, this is the case. However, Beacon Park's double mello roos are special. They provide the unique feature of rising and compounding 2% annually for the next few decades. Therefore, pretty dramatic price decreases are necessary to offset this burden. They'd probably rather slog through sales for a few years.

The outlook is dim for BP (possibly). The new village Eastwood and semi-new Portola Springs # (I lost count) is scheduled to come out. Also, the other existing villages will sg, cv, oh.

 

[AW]

Build it, price it right, and the sheeple will buy en masse.

TIC marketing geniuses have brainwashed buyers to accept uninspiring designs and postage stamp lots.

BP would be more of a threat if it wasn't for the kryptonite around their neck -- high MR.

High MR can easily be countered with lower home prices. I'm sure they would still make a nice profit regardless.

Ordinarily, this is the case. However, Beacon Park's double mello roos are special. They provide the unique feature of rising and compounding 2% annually for the next few decades. Therefore, pretty dramatic price decreases are necessary to offset this burden. They'd probably rather slog through sales for a few years.

Pretty sure that's not unique to BP, other MR can go up to 2% annually and compound. It's just that their amounts are so large to begin with. 
Unfortunately for GP, can't really start on the other communities until sales in BP are ending. I want to see what other designs are embedded beside the crane.

 

[Happiness]

5P blew it with the BP launch.  From this point forward, the best 5P can hope for with BP is to minimize the damage until the next iteration of the GP neighborhoods.  Higher end BP homes have not been selling well at all.  Compare this to Greenwood which came out about the same time and shares many of the same builders and similar sized homes.  Lower end BP homes are selling better but once Eastwood opens next year, even the BP low end homes will have a terrible time because Eastwood is in a much better location.

 

[irvinehomeowner]

5P blew it with the BP launch.  From this point forward, the best 5P can hope for with BP is to minimize the damage until the next phase of the GP neighborhoods.  Higher end BP homes have not been selling well at all.  Compare this to Greenwood which came out about the same time and shares many of the same builders.  Lower end BP homes are selling better but once Eastwood opens next year, even the BP low end homes will have a terrible time because Eastwood is in a much better location.

Wait... Tustin is not a better location than Irvine.



#IrvineIsAwesome

 

[Perspective]

Is Irvine Pacific the developer for Orchard Hills Villages III and IV? We're probably a couple years from even thinking about Village III, since there's so much space to be developed in Village I (gated side).

 

[lnc]

5P blew it with the BP launch.  From this point forward, the best 5P can hope for with BP is to minimize the damage until the next iteration of the GP neighborhoods.  Higher end BP homes have not been selling well at all.  Compare this to Greenwood which came out about the same time and shares many of the same builders and similar sized homes.  Lower end BP homes are selling better but once Eastwood opens next year, even the BP low end homes will have a terrible time because Eastwood is in a much better location.

The builders also need to share some of the blame regarding to lackluster sales too. 

If the builder lower the listing price by 10% or more, they will sell at a much faster pace even with the double MR.  Sure, their profit margin will be very tight but at least the inventory is moving and get some cash flow.

 

[zubs]

5P blew it with the BP launch.  From this point forward, the best 5P can hope for with BP is to minimize the damage until the next iteration of the GP neighborhoods.  Higher end BP homes have not been selling well at all.  Compare this to Greenwood which came out about the same time and shares many of the same builders and similar sized homes.  Lower end BP homes are selling better but once Eastwood opens next year, even the BP low end homes will have a terrible time because Eastwood is in a much better location.

The builders also need to share some of the blame regarding to lackluster sales too. 

If the builder lower the listing price by 10% or more, they will sell at a much faster pace even with the double MR.  Sure, their profit margin will be very tight but at least the inventory is moving and get some cash flow.

When a builder lowers their price, do the buyers who already bought a house get refunded?

 

[lnc]

Is Irvine Pacific the developer for Orchard Hills Villages III and IV? We're probably a couple years from even thinking about Village III, since there's so much space to be developed in Village I (gated side).

Yes, TIC is the developer. 

Hopefully we'll get some info regarding to that Neighborhood 3 soon but probably 2018 and beyond. 

Groves West (Groves II) - 2017
Groves East (Neighborhood 3)- TBD by Halloween this year
Neighborhood 4 - Unknown (Non-Gated, IUSD)

 

[bluesclues]

Maybe 5point should consider buying back some bond and lowing the MR? At lease to PP level? The main reason for people I know not buying in BP is due to the super high MR.

 

[lnc]

When a builder lowers their price, do the buyers who already bought a house get refunded?

If they sold a lot of home to FCB, they better be prepared. Rumor has it that in some incidents, riot police had to be call in.  >

Home buyers angry as project's prices lowered

Angry homeowners of several residential projects in Shanghai flocked to their developers' sales offices over the weekend, seeking refunds or purchase cancellations after big discounts have been offered by developers to trigger sales.

Hundreds of infuriated homeowners gathered at an office building in Lujiazui of the Pudong New Area on Saturday afternoon, demanding a face-to-face talk with China Overseas Property (Group) Co

Developers of the three projects, however, all declined to show up.

 

[AW]

lowering MR to PP levels + phase 1 PP prices should work wonders for sales

 

[gasman]

Don't forget Greenwood has double MR with compounding 2% YOY increases.

Difference is, by the time TUSD gets around to building a high school, Greenwood kids will already be attending IVC or Saddleback. (ouch)

#StillBitterAtTUSD