Author Topic: Better Location for Resale in Irvine  (Read 14043 times)

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Offline Irvinecommuter

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Re: Better Location for Resale in Irvine
« Reply #255 on: March 13, 2018, 12:27:08 PM »

That's what I thought. So you are already paying the "landscape and maintenance" premium. Is it really that much? That's probably why you didn't want to admit it because it would weaken your stance. It's okay... maybe your yard is like BTB's and just concrete pavers and zero maintenance. And the follow up question... do you use your small yard? Or is it "never" like another member here said?

I think we can conclude that if a little extra backyard space didn't cost you anything (and you still had access to a public park/pool) you wouldn't mind it.


Again...it seems like you are having a discussion with yourself

I literally wrote: 

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Sure but then I have to pay someone more money to take care of a bigger yard and then doe things like replanting or fix sprinklers etc.  The privacy thing is certainly a plus but most Irvine neighborhoods are pretty quiet.

I also talked about people spending like $150 to $250K on their yards in Ladera Ranch.  That is a significantly larger initial investment than I did with my yard.

I also wrote:

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I might be wrong, but between the same two houses that are the same prices, I think Irvinecommuter will choose the one with a smaller yard because he will think it will cost less for him to maintain. Am I right, IC?

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Not necessarily but the issue is that such a scenario does not exist.   A larger lot pretty much means higher costs.  Question is whether one wishes to the pay the lot premium. 

My point regarding maintenance costs is that the existence of such a cost reduces the value of a yard to me, not that a larger lot has no value.

Offline irvinehomeowner

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Re: Better Location for Resale in Irvine
« Reply #256 on: March 13, 2018, 12:34:50 PM »
I remember.  Fodder also denotes an individual without independent will and doing what others tell them to do despite obvious negative outcomes.

Actually, fodder is more passive. I don't think you do what TIC tells you to do, but you accept what they offer because they control the pricing and features.

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It's not possible that TIC made a product in a price range to include things high on my priority list? 
This is where I think we differ in thinking... it's not like they give you a choice.

TIC could certainly make homes with bigger lots, sideyards and driveways but that cuts into their profits... so they make homes with those features more expensive to make you think that you don't want those things because they cost more. Where in reality, we all want those things but because we don't walk with our wallets, TIC can continue to put them on us.

This is why PP was so popular because it bucked the TIC paradigm... and then 5 Points got greedy.

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You also like to dismiss my priority list as "excuses" or "rationalization".
That's where the above comes into play.

I can admit that I am fodder/shill/stooge for Irvine living as a whole. I rationalize paying such high prices for location, safety, education, streetball, weather, etc... and I'm okay with it.
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Offline Irvinecommuter

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Re: Better Location for Resale in Irvine
« Reply #257 on: March 13, 2018, 12:40:43 PM »
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It's not possible that TIC made a product in a price range to include things high on my priority list? 

This is where I think we differ in thinking... it's not like they give you a choice.

TIC could certainly make homes with bigger lots, sideyards and driveways but that cuts into their profits... so they make homes with those features more expensive to make you think that you don't want those things because they cost more. Where in reality, we all want those thing but because we don't walk with our wallets, TIC can continue to put them on us.

This is why PP was so popular because it bucked the TIC paradigm... and then 5 Points got greedy.


They could but that would likely increase the prices of the home.  BTW, TIC doesn't mandate the lot size, the builders are the ones who choose what size lot they want.  I mean Irvine Pac is TIC but other builders could elect to give out bigger lots per unit but then they would be adding to their own costs.

Not that different from Five Points.

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Construction of the model homes at the project is expected to begin in the next few months. Sales could begin as soon as March, according to Five Point chief executive Emile Haddad.

The nearly $472,000 average per-lot price that builders paid for the latest batch of land at Cadence Park isn’t the most expensive residential land deal seen at the former El Toro marine base.

Lot prices averaged about $460,000 for homes at the development’s first community, Pavilion Park; $495,000 for the second community, Beacon Park; and about $313,000 for the assortment of attached townhomes and condos now selling at its latest community, Parasol Park.

https://www.ocbj.com/news/2017/nov/08/five-point-sells-more-land-homes-plots-retail/

Doesn't the market bear what it bears?  Yes PP sold well but so did SG.  BP also has big lots but took a long time to sell while EW is selling like crazy.   If what you say is true, then one should buy in BP rather than EW.


Offline irvinehomeowner

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Re: Better Location for Resale in Irvine
« Reply #258 on: March 13, 2018, 01:06:38 PM »
Quote
It's not possible that TIC made a product in a price range to include things high on my priority list? 

This is where I think we differ in thinking... it's not like they give you a choice.

TIC could certainly make homes with bigger lots, sideyards and driveways but that cuts into their profits... so they make homes with those features more expensive to make you think that you don't want those things because they cost more. Where in reality, we all want those thing but because we don't walk with our wallets, TIC can continue to put them on us.

This is why PP was so popular because it bucked the TIC paradigm... and then 5 Points got greedy.


They could but that would likely increase the prices of the home.  BTW, TIC doesn't mandate the lot size, the builders are the ones who choose what size lot they want.  I mean Irvine Pac is TIC but other builders could elect to give out bigger lots per unit but then they would be adding to their own costs.

Not that different from Five Points.

Quote
Construction of the model homes at the project is expected to begin in the next few months. Sales could begin as soon as March, according to Five Point chief executive Emile Haddad.

The nearly $472,000 average per-lot price that builders paid for the latest batch of land at Cadence Park isn’t the most expensive residential land deal seen at the former El Toro marine base.

Lot prices averaged about $460,000 for homes at the development’s first community, Pavilion Park; $495,000 for the second community, Beacon Park; and about $313,000 for the assortment of attached townhomes and condos now selling at its latest community, Parasol Park.

https://www.ocbj.com/news/2017/nov/08/five-point-sells-more-land-homes-plots-retail/

Actually I'm not sure what TIC does now. They redid how they did new homes in 2010. Instead of selling plots of land to builders, they subcontracted them to just design and sell the homes. This is where we saw a shift in home layouts... introduction of the Cali rooms, removal of formal living and dining rooms and the move to alleyway homes.

Not sure if they went back to selling land to builders... I think that's the case for the larger homes and IPac does all the smaller home projects... where they "force" designs on buyers.

Quote
Doesn't the market bear what it bears?  Yes PP sold well but so did SG.  BP also has big lots but took a long time to sell while EW is selling like crazy.   If what you say is true, then one should buy in BP rather than EW.

I didn't really look at BP as much as PP, but from what I remember, they were higher priced and less desirable designs (unless you like Legos). This is what I meant by post-PP, 5 Points went the way of TIC.
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Offline paydawg

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Re: Better Location for Resale in Irvine
« Reply #259 on: March 13, 2018, 01:12:28 PM »
Quick question.  Generally, what's the difference in Mello Roos between SG and PP, assuming the same size house?

I'm sure that has been answered elsewhere, but if somebody knows that difference off the top of their head, that would be great. 
Thanks in advance for the 'thanks'!!

Offline Irvinecommuter

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Re: Better Location for Resale in Irvine
« Reply #260 on: March 13, 2018, 01:19:45 PM »
Quick question.  Generally, what's the difference in Mello Roos between SG and PP, assuming the same size house?

I'm sure that has been answered elsewhere, but if somebody knows that difference off the top of their head, that would be great.

Sagewood:

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Approximate Tax rate: 1.16%

Approximate Mello Roos (aka Community Facilities District tax): range from $5,902 – $6,934, subject to an increase by 2% per year

http://www.irvinehousingblog.com/2014/01/31/a-review-of-the-sagewood-tract-at-pavilion-park/

Arcadia: 1.45%

http://www.irvinehousingblog.com/2013/08/12/a-review-of-the-arcadia-tract-at-stonegate-residence-one/

Mendocino: 

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Base Property Tax: 1.05%

AD Tax: $2,246 per year

CFD Tax: $1,700 per year

Other Taxes: $160 per year

Overall Effective Tax Rate: Approximately 1.6% (amounts are estimates based on info currently available from the City of Irvine and Irvine Unified School District)

http://www.irvinehousingblog.com/2012/11/01/a-review-of-the-mendocino-tract-at-stonegate/

Anyone know if PP mello roos went up?  I assume not since it built up.

Offline paydawg

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Re: Better Location for Resale in Irvine
« Reply #261 on: March 13, 2018, 01:41:14 PM »
I looked at a couple properties that sold in Q4 of last year.  1 in SG and 1 in PP, with similar square footage, but PP had a bigger lot. 

https://www.redfin.com/CA/Irvine/76-Haviland-92620/home/58556994

https://www.redfin.com/CA/Irvine/135-Cardinal-92618/home/51683001

That PP home has higher MR and HOA dues each year that total to about $4,100 extra per year.  I'd need an extra $102K (earning 4%/year interest) just to payoff that extra $4,100 each year!  That drives the cost of that Cardinal home up to about $508/sq ft.  The SG home sold for $480/sq ft. 

The extra $28/sq ft so you can increase your lot size by a total of 1,600 sq ft. seems way too much for me.  If you have the extra disposable income to afford that, than more power to you.  I personally cannot.  I'd stick with SG. 
Thanks in advance for the 'thanks'!!

Offline bones

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Re: Better Location for Resale in Irvine
« Reply #262 on: March 13, 2018, 01:54:21 PM »
I looked at a couple properties that sold in Q4 of last year.  1 in SG and 1 in PP, with similar square footage, but PP had a bigger lot. 

https://www.redfin.com/CA/Irvine/76-Haviland-92620/home/58556994

https://www.redfin.com/CA/Irvine/135-Cardinal-92618/home/51683001

That PP home has higher MR and HOA dues each year that total to about $4,100 extra per year.  I'd need an extra $102K (earning 4%/year interest) just to payoff that extra $4,100 each year!  That drives the cost of that Cardinal home up to about $508/sq ft.  The SG home sold for $480/sq ft. 

The extra $28/sq ft so you can increase your lot size by a total of 1,600 sq ft. seems way too much for me.  If you have the extra disposable income to afford that, than more power to you.  I personally cannot.  I'd stick with SG. 


Wow - that Haviland house was asking $1.98M when it was listed?

Offline Kings

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Re: Better Location for Resale in Irvine
« Reply #263 on: March 13, 2018, 03:18:26 PM »
I looked at a couple properties that sold in Q4 of last year.  1 in SG and 1 in PP, with similar square footage, but PP had a bigger lot. 

https://www.redfin.com/CA/Irvine/76-Haviland-92620/home/58556994

https://www.redfin.com/CA/Irvine/135-Cardinal-92618/home/51683001

That PP home has higher MR and HOA dues each year that total to about $4,100 extra per year.  I'd need an extra $102K (earning 4%/year interest) just to payoff that extra $4,100 each year!  That drives the cost of that Cardinal home up to about $508/sq ft.  The SG home sold for $480/sq ft. 

The extra $28/sq ft so you can increase your lot size by a total of 1,600 sq ft. seems way too much for me.  If you have the extra disposable income to afford that, than more power to you.  I personally cannot.  I'd stick with SG.

The curb appeal on that PP home wins out all day against that SG stucco box.

Offline Zion

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Re: Better Location for Resale in Irvine
« Reply #264 on: March 13, 2018, 03:26:24 PM »
i like bigger yard better than no yard. i prefer traditional home styles than modern...
however...
based on what i've read from talkirvine and seen from redfin and zillow sales history, the resale might be the easiest at eastwood, then following stonegate, cypress village, and pavilion park. it might really depend how it's priced though. i don't live in any of those villages so i'm not biased.
if i had enough money to full cash buy, then i might choose parasol park from these.
if not from these, then hidden canyon or turtle rock.

Offline Burn That Belly

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Re: Better Location for Resale in Irvine
« Reply #265 on: March 13, 2018, 03:40:16 PM »
mello roos sucks. period. there is nobody on here that loves throwing away money that is hardly  accounted for, poorly managed, and thrown into the hands of corrupt politicians. the less MR to pay, the better. this is why I prefer to not pay subHOAs. I'll do my own landscaping, gardening, roofing, painting, and maintenance. I'll subcontract and hire my own guys, and do it to MY standards on my own dime. I can read directions and the law.

I found a guy outside of the paint store who painted my whole house for under $2000, when everybody wanted $4000. He did a great job and it was cash only baby.

When it comes time to do roofing one day, I'm going to find guys way out in the boonies.
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Offline Kings

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Re: Better Location for Resale in Irvine
« Reply #266 on: March 13, 2018, 03:58:23 PM »
When it comes time to do roofing one day, I'm going to find guys way out in the boonies.
careful you don't go too far out in the boonies


Offline Burn That Belly

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Re: Better Location for Resale in Irvine
« Reply #267 on: March 13, 2018, 04:07:04 PM »
When it comes time to do roofing one day, I'm going to find guys way out in the boonies.
careful you don't go too far out in the boonies

My roof ain't like that. It's clay roof. More idiot proof. I would go way out in the boonies but make sure that they have 5-star yelp reviews and 500 instagram followers ;D
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Offline nosuchreality

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Re: Better Location for Resale in Irvine
« Reply #268 on: March 13, 2018, 06:07:06 PM »
When it comes time to do roofing one day, I'm going to find guys way out in the boonies.
careful you don't go too far out in the boonies

My roof ain't like that. It's clay roof. More idiot proof. I would go way out in the boonies but make sure that they have 5-star yelp reviews and 500 instagram followers ;D

Thats the $49.99 promote your business package out of Mumbai


Yiu could go with that Irvine firm but they cost more.
« Last Edit: March 13, 2018, 06:12:07 PM by nosuchreality »

Offline Happiness

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Re: Better Location for Resale in Irvine
« Reply #269 on: March 13, 2018, 06:51:47 PM »

No, everything has a price and some things I am not willing to pay for.

#whoami

Seriously...is there a reason why you feel the need to continue with this discussion?  I could share about the fun that I had with my kids by walking to the park, having dinner next to the pool, and watching them play in the pool without lifting a finger to clean the grill or patio furniture.

Park is fine if you don't mind grilling in someone else's filth and lugging all of your food, drinks, and supplies to the park since there is no prep area at the park, no storage, no warming drawer, no bbq island, no sink, no fridge, no pot burners etc. Not to mention that every 15 minutes you have to remember to reactivate and relight the grill with your key fob. Also, how can you grill without enjoying a fine brew (no glass containers at the park).


 

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