Yup, still way too high. I can’t believe anyone would buy at these prices. There are great bargains to be had in the used market, why buy an overpriced new one? Not to mention how much better the bargains are going to get.
That’s it—- since these homes are now only worth $500k, I’m definitely taking the $600k cash out option instead of the house when I win the Irvine Public School Foundation raffle! http://www.ipsf.net/index.asp?id=63
So I visited Cortile yesterday to purchase my raffle ticket. They had a bouncey-type obstacle course thing set up for the kids, and they were grilling burgers in the parking lot too. My son had fun playing all by himself on the bouncey thing, I bought my ticket, and we went on a quick tour. The sales people weren’t all that friendly inside the office but the gals selling IPSF tickets were very nice.
I pulled Zovall’s earlier pricing data from the top of this thread and put it here so you can see the amount that all the models, including Residence 4 (the house being raffled off) have been reduced. In 18 months, the list price has dropped from $714,495 to $570,000, a reduction of $144,495, or 20%.
The flyer attached to the official entry form indicates that the Grand Prize is a $639,000 home. That’s already off by $69,000! I just checked the raffle’s website and the official rules still state that you have the option of choosing a prize of $600,000 in cash instead of the house. The tickets will be sold all summer, with the drawing taking place on August 9th. That is more than four months away. In that time, I believe it is not out of bounds to suspect that the price of this condo will drop some more.
So that puts the Irvine Public Schools Foundation into quite a sticky-wicket. Who in her/his right mind would choose the house when the cash option is of significantly higher value?
Certainly not me. That 600k (okay, more like 350k after taxes) will supplement my 2009/2010 house purchase down payment quite nicely, thank you very much!
Okay, here are the LAST 5 houses in Cortile for Woodbury.
Today’s price list.
Lot 61 Model. Available in June. Plan 1FR $509,000 (Model)
Lot 66 Model. Available in June. Plan 2GR $548,000 (Model)
Lot 65 Model. Available in June. Plan 3FX $589,000 (Model)
Lot 71 New build. Finish in Sept. Plan 3EX $542,000 (with a few upgrades added)
Lot 64 Model. Available in June. Plan 4E $648,000 (Model)
Looks like they dropped prices in the last phase to close it out. Judging from the poster on the other page, the prices still didn’t get down to 2003’s $390k pricing for a Plan 1…over in Quail Hill.
With Decada selling the actual models, and stopped all building in Portola Springs, does this mean Cal Pacific is done with homes in Irvine?
Looks like they dropped prices in the last phase to close it out. Judging from the poster on the other page, the prices still didn’t get down to 2003’s $390k pricing for a Plan 1…over in Quail Hill.
With Decada selling the actual models, and stopped all building in Portola Springs, does this mean Cal Pacific is done with homes in Irvine?
Maybe Irvine company is putting the whole project on hold or delaying building for awhile. maybe to artificially hold up price, by limiting the number of units they produce within their city.
Okay, here are the LAST 5 houses in Cortile for Woodbury.
Today’s price list.
Lot 61 Model. Available in June. Plan 1FR $509,000 (Model)
Lot 66 Model. Available in June. Plan 2GR $548,000 (Model)
Lot 65 Model. Available in June. Plan 3FX $589,000 (Model)
Lot 71 New build. Finish in Sept. Plan 3EX $542,000 (with a few upgrades added)
Lot 64 Model. Available in June. Plan 4E $648,000 (Model)
Are these across from Magnolia park? I wonder if one of these are reserved for the annual raffle.
Looks like they dropped prices in the last phase to close it out. Judging from the poster on the other page, the prices still didn’t get down to 2003’s $390k pricing for a Plan 1…over in Quail Hill.
With Decada selling the actual models, and stopped all building in Portola Springs, does this mean Cal Pacific is done with homes in Irvine?
Maybe Irvine company is putting the whole project on hold or delaying building for awhile. maybe to artificially hold up price, by limiting the number of units they produce within their city.
Does anyone know for sure???
Well, there are 2 new communities across from Woodbury. And I am not referring to East Woodbury. One to the north and the other to the south. Both are on hold. So it seems like they are holding off.
Yes, there is some control in building out. Which is a good thing, right?
Okay, here are the LAST 5 houses in Cortile for Woodbury.
Today’s price list.
Lot 61 Model. Available in June. Plan 1FR $509,000 (Model)
Lot 66 Model. Available in June. Plan 2GR $548,000 (Model)
Lot 65 Model. Available in June. Plan 3FX $589,000 (Model)
Lot 71 New build. Finish in Sept. Plan 3EX $542,000 (with a few upgrades added)
Lot 64 Model. Available in June. Plan 4E $648,000 (Model)
Are these across from Magnolia park? I wonder if one of these are reserved for the annual raffle.
Yeah, these the the models right on the park. That’s why the prices went up for these units.
Also, there were 2 units in the 6 plex that were just lacking the floorings but wern’t for sale…so yeah one is most likely for the raffle winner.
Okay, here are the LAST 5 houses in Cortile for Woodbury.
Today’s price list.
Lot 61 Model. Available in June. Plan 1FR $509,000 (Model)
Lot 66 Model. Available in June. Plan 2GR $548,000 (Model)
Lot 65 Model. Available in June. Plan 3FX $589,000 (Model)
Lot 71 New build. Finish in Sept. Plan 3EX $542,000 (with a few upgrades added)
Lot 64 Model. Available in June. Plan 4E $648,000 (Model)
Are these across from Magnolia park? I wonder if one of these are reserved for the annual raffle.
Yeah, these the the models right on the park. That’s why the prices went up for these units.
Also, there were 2 units in the 6 plex that were just lacking the floorings but wern’t for sale…so yeah one is most likely for the raffle winner.
Back in 2005, to be adjacent to the park would have cost you a bundle.
Okay, here are the LAST 5 houses in Cortile for Woodbury.
Today’s price list.
Lot 61 Model. Available in June. Plan 1FR $509,000 (Model)
Lot 66 Model. Available in June. Plan 2GR $548,000 (Model)
Lot 65 Model. Available in June. Plan 3FX $589,000 (Model)
Lot 71 New build. Finish in Sept. Plan 3EX $542,000 (with a few upgrades added)
Lot 64 Model. Available in June. Plan 4E $648,000 (Model)
Looks like they dropped prices in the last phase to close it out. Judging from the poster on the other page, the prices still didn’t get down to 2003’s $390k pricing for a Plan 1…over in Quail Hill.
With Decada selling the actual models, and stopped all building in Portola Springs, does this mean Cal Pacific is done with homes in Irvine?
Maybe Irvine company is putting the whole project on hold or delaying building for awhile. maybe to artificially hold up price, by limiting the number of units they produce within their city.
Does anyone know for sure???
If they Cal Pacific was just holding they wouldn’t be sell the models in Portola Springs. They want out until the air clears…OR Irvine Ranch drops the land prices…then they will probaly come back in.
I bet my last dollar, the reason they are selling the Decada Models is they have once again changed the architecture design to these starter home units…and I bet they will be more of an Asain influence…lol superstitions, as noted by everyone here the existing designs lack. hehehe.
Looks like they dropped prices in the last phase to close it out. Judging from the poster on the other page, the prices still didn’t get down to 2003’s $390k pricing for a Plan 1…over in Quail Hill.
With Decada selling the actual models, and stopped all building in Portola Springs, does this mean Cal Pacific is done with homes in Irvine?
Maybe Irvine company is putting the whole project on hold or delaying building for awhile. maybe to artificially hold up price, by limiting the number of units they produce within their city.
Does anyone know for sure???
If they Cal Pacific was just holding they wouldn’t be sell the models in Portola Springs. They want out until the air clears…OR Irvine Ranch drops the land prices…then they will probaly come back in.
I bet my last dollar, the reason they are selling the Decada Models is they have once again changed the architecture design to these starter home units…and I bet they will be more of an Asain influence…lol superstitions, as noted by everyone here the existing designs lack. hehehe.
Someone mentioned that Cal Pacific is own or run by Mr. Bren’s son. So I doubt the co. will go bye bye.
But you’re right about the decada design. It’s the same layout as either Cortile or Bowen Court @ Woodbury. I forgot.
Okay, here are the LAST 5 houses in Cortile for Woodbury.
Today’s price list.
Lot 61 Model. Available in June. Plan 1FR $509,000 (Model)
Lot 66 Model. Available in June. Plan 2GR $548,000 (Model)
Lot 65 Model. Available in June. Plan 3FX $589,000 (Model)
Lot 71 New build. Finish in Sept. Plan 3EX $542,000 (with a few upgrades added)
Lot 64 Model. Available in June. Plan 4E $648,000 (Model)
how many rooms are there in each plan you know?
why plan 3fx is so much more expensive than 3ex?
Both had the 3 bedroom layout. The 3FX was a model and was all decked out with model extras. The other a 3EX is a new build with just a tad of extras. SS kit, granite, ceramic shower, solatube, ceiling fan drops. Same sqf. Both are right at the park.
Truth be told, I bet if you go in pre-approved you could easily whop off 50k on any of these units…AND get 100% of their normal incentives. (lol, *wave* scottish)
If they are corporations they have to be ran as corporations. You don’t think Bren is just giving the land away, he can’t…he has to sell it to the developers for around the same price depending on the amount of land and where it’s at on the current development.
But yeah, sure there’s some family cahoots, but overall it’s about the corporations bidding on parcels. Yeah, Cal Pac will keep building in PS, but not now and not as Decada.
If they are corporations they have to be ran as corporations. You don’t think Bren is just giving the land away, he can’t…he has to sell it to the developers for around the same price depending on the amount of land and where it’s at on the current development.
But yeah, sure there’s some family cahoots, but overall it’s about the corporations bidding on parcels. Yeah, Cal Pac will keep building in PS, but not now and not as Decada.
Of course, he’ll sell some to developers. But reserves a few parcels for his son to play on?
