Contact Us

info@ranchoortega.com
@Rancho_Ortega

Announcements

Rancho Ortega Blog discusses matters of public interest in South Orange County, including the communities of San Juan Capistrano, Ladera Ranch and Rancho Mission Viejo.

The writings of Don Juan Ortega on the Rancho Ortega Blog are the personal views of the author. This blog is not authored by nor does it have any affiliation whatsoever with any other person, place or entity using the name "Rancho Ortega" (or any similar name).

We have installed some new anti-spam software, and we are going to try again with open registration. Registration and sign-in information are available at the bottom of the far right column. As always, if you have any questions or concerns, you may email us at info@ranchoortega.com.

Categories

Archives

http://www.ranchoortega.com/blog/archives/491

The Legacy Collection at Covenant Hills – Expected Location of the Models and Phase One

Warmington Homes appears poised to break ground this week on the model homes for its two Legacy Collection offerings.  The site plan is show below and we’ve made an educated guess on where the models will be located, as well as where we expect the Phase One buildout to occur.   While the model homes will be located on the lots closest to Covenant Hills Drive, we find it interesting that Phase One of the project is going to be built on perhaps Warmington’s most valuable street — and just below Catalina Vista (which is arguably the most valuable street in Covenant Hills based on location, views and lot sizes).  Interested buyers might consider jumping on board the first phase to take advantage of the location.  Warmington is probably anticipating that many buyers will have the same reaction as we had, leading to strong initial sales for the Legacy Collection.

Legacy Collection at Covenant Hills - Expected Location of Models and Phase One

As we pointed out in our discussion of the Warmington floor plans, the homes are not ideally suited for traditional families, which might be a sticking point in family-friendly Ladera. On the other hand, perhaps this is an attempt to distinguish itself with a different product offering. With announced pricing in the low $1 millions (before upgrades and landscaping, mind you), these homes are competing squarely with resale homes that are substantially larger. That is a daunting task, but Warmington is acting confident that it has found a niche that will sell in today’s real estate market. Thus far, we have not heard any complaints from the custom owners about the encroachment of more production homes into “their” custom enclave. Perhaps they are just happy to be getting some neighbors? We remain very interested in how this project will play out.

 

Comments are closed.