I'm not sure how they are loaded as I feel some of the comments on this forum are hard to interpret considering I have no idea if people posting here are actual homeowners, renters, speculators, real estate agents etc etc.
I am not looking for an easy answer... just some opinions/facts to explain statements like "I prefer Woodbury or Quailhill over Portola Springs", "Those homes are overpriced", "Portola Springs is a ghost town", "Those homes will be in foreclosure in 6 months".
I know the market is rough right now... but do we really think these homes are going to drop 30% to like $700-800k in the next 2 years? I've read that home prices are already 20%+ lower than at the peak and are actually down comparatively lower than the 90s burst.
And are these particular models really overpriced? Los Colinas is selling through their last phases at prices comparative or higher than the Prado ones and they are even looking into acquiring the lots that Pardee gave up. So there has to be some value to these units considerig that they are a little bigger, already upgraded (Los Colinas doesn't even have granite standard and uses white appliances last time I checked) and are already landscaped.
I'm very interested in purchasing one of these homes but am concerned about what they are worth and came here looking for more in-depth information. When I hear opinions like "If I had a family, this one would appeal to me" then of course you're not going to like it because you *don't* have a family so you have a much different point of reference. Everyone has an opinion, I'm just looking for more discussion about these opinons rather than just rote statements like "Eh... me no like... next."
So in order to be fair, I'll start:
Plan 3 (the one on the corner with the huge yard and pool):
This is the one everyone goes to. It's nice... but I agree that the outside is much better than the 1st floor. I'm not too keen on the spanish-type floor and the around the corner ovens but the kitchen to courtyard to sideyard transition is awesome. Not many new homes in Irvine can get you a huge corner, pre-landscaped (and nice landscape) lot. The huge walk-in pantry for the kitchen is great and builders really need to understand that pantries are higher desireable in higher-end homes.
The upstairs is much better than downstairs. A master with a retreat separated by the master bath and its own private exit/entry to the backyard is not common. I like it when the tub is not in the middle of the bathroom and off to the side in its own area so its really like a spa retreat... and this tub is the only one that is jetted of the three plans.
The other rooms seem a bit smallish (including the hall) but most of the upstairs is dominated by the master area. The jack-and-jill bathroom is interesting as one half really doesn't lead directly to the other bedroom but to the hall between the spaces. No bonus room makes it seem less family friendly... not sure what I would prefer... a master retreat or a bonus room for the kids.
Just not sure it's worth 1.3 to 1.5 even with the high-end landscaping.
Plan 1 (the one in the middle with the huge front yard):
This one is a bit weird. The front brick/concrete are is interesting but I think would be better served as a more private courtyard. I don't like how the front door doesn't have an real porch. Maybe I'm old-fashioned but I think every door needs some type of porch entry... if not for protection from rain at least from sun.
I didn't really like it at first because the upgrades aren't as nice as the other two but the layout is functional. The area where they put the ovens and micro are jacked up because in the original floorplan that was supposed to be a big pantry area. The wood flooring is nice as are the very big baseboards. The living room is rather large and having the two front french doors open out the front brick/concrete patio area makes that a much more usable space. The 4th BR off the kitchen/nook is strange and it would be nice if it had it's own door to the exterior.
The master is really long and the dual closets (one sliding, one walk-in) is useful. The shower has it's own separate drying area which is a nice touch but no seat. This master is the only one of the 3 that has a separate vanity area which I think should be in EVERY master bath. The bonus room is good (another must for any family house) but I think that there was an option to make the shower smaller and open into small retreat with the other area either staying a smaller bonus or bedroom or even making another bedroom + full bath.
Starting at 1mil probably makes this the most attractive of the 3 but I don't know why builders don't understand that 5 bedrooms should be the minimum for any $1mil house.
Plan 2 (the one next to the dirt lot):
Contrary to the other poster's opinions, separate casita/office space is a huge plus to me. Not only do you create a living space outside of your home for either help, guests or even a renter... I feel it adds great value. The option of the office is to turn the back area into a bathroom with shower (it's preplumbed for this option). The entry is the best of the 3 since it's a vaulted ceiling with a nice spiral staircase. It's a bit small... but that added height helps. The one problem I see with this plan is at this price range... most buyers are looking for all the living spaces... which means nook+dining room+living room+family room. This plan only has a Great Room, which is rather large but not much bigger than Plan 1's family room and roughly the same size (if not smaller) than other "luxury" homes' family rooms (which still has a separate living room). The kitchen layout is probably the best of the 3 but no pantry makes it less appealing.
The upstairs is unique as many of the rooms are step-up or down and the sleeping patio is very one-of-a-kind. The master bedroom is the smallest of the 3 plans but this is the only one with a fireplace. The upstairs laundry is a nice size but like Plan 3, no bonus room (and no master retreat to make up for that loss).
Starting at 1.1mil, you can see why the Plan 1 has more interest and since this is the one next to the unknown construction (I am fairly sure another home will be going there since there is already a stake in the dirt lot with a lot number... most likely Los Colinas)... I think it should have been priced in the same range (esp because it has less sq ft than the Plan 1).
In all 3 cases, the upgrades are great since most new homes will only give you kitchen and maybe master surfaces but everything else is standard square white tiles. And when you purchase flooring for any house 3000+ sft in size... that price becomes rather significant.
I think that there is a misconception that the furniture/decoration is included... it's not... but you can include it in your bid.
Considering the small time frame to where they opened the models to the public and the bidding system they are using, I'm wondering how many serious buyers they can really get.
And this is what I'm wondering most about... is the price range they set accurate? Do you bid enough to make the builder consider you or is that overpaying? Is the fact that they are pre-upgraded, floored and landscaped worth 50-100k? I feel a one-sided cul-de-sac is a great area but it doesn't seem any other posters see the value in that. Having lived in multiple homes on cul-de-sacs... I can't see how you would want to live elsewhere.
I do feel that the $300k difference between Plan 3 and Plan 1 is not a good move. It makes the Plan 3 seem way overpriced.
So those are my opinions? Any others?
What does the HOA provide... a water truck?
