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1
No problem!  Now where's that air pollution thread eyephone was going to start. 

Read all of my previous posts. Undesirable factors for PS are well documented by me. Done with replying to you. There is not a single point to prolong this. You've been laughed at by multiple people. Because you simply seem to forget the highway hazards of 405 and 5 bordering so many other villages. It's simple. It's purposefully turning a blind eye, and then defending yourself by "sticking with facts" and asking unnecessarily dump questions about "do I want to be closer to toll road or farther away". Let me think! I'll get back to you on that.

I got the first person to ignore me on TI.   >:D

I'm still sticking by the fact that the Toll Road is probably the worse environmental concern that I know of. 

And I never disagreed with this guy/girl that living near the 5 or 405 was better, where did I say that.  In fact I think it's way worse and would never choose to live close to either. 

Living by the 5 and 405 ain’t no joke.
I don't think anyone can dispute that, but mountaineer went on a rant when I said living by the toll road is bad for you. 

I would say all freeways are an environmental concern, the noise that would come with it is bad enough for me to avoid any homes near any freeways or major streets.  This would be for all Irvine homes. 

As for living near a toll road/fwy/major street, I stand by that it's a health hazard, doesn't matter which Irvine village you live in, go back to my original post, I wrote it depends on how close your home is to the toll.  My quick google search gave me the below.  Is the 5 or 405 worse, yes, but the toll road isn't good for you either. 

https://www.nytimes.com/2019/04/11/well/family/living-near-a-major-highway-tied-to-developmental-delays-in-children.html
https://www.lung.org/our-initiatives/healthy-air/outdoor/air-pollution/highways.html
https://www.forbes.com/sites/quora/2018/05/29/how-the-air-quality-where-you-live-might-be-affecting-your-health/#1bc90d970175

great, got it! thanks for your clarifications.
2
An interesting point that I didn't mention was that the first buyer was going to buy the home for $595,000.  The second buyer didn't see the home and get their loan pre-approval until the day that I change the status to back-up offer on MLS so they thought that they lost the home.  Then when I changed the status to active on MLS when the first buyer cancelled escrow, the second buyer agent contacted me the same day letting me know that he was going to be submitting a full priced offer.  So other than closing later, it worked out for the best for the seller.
3
USCtrojan—best Irvine realtor—has been saying this for a while. All the other communities have already shown their potential, but PS has yet to show its potential.

I've always believed this because of the upcoming potential once the full build out of PS occurred hence why I would have bought a Las Ventanas Plan 2 back in 2012 but I got a great deal on a short sale in West Irvine.  It would have been great if they would have built a shopping center where Portola Elementary is but that won't be a huge issue as they'll build retail at the Great Park in the next few years. Irvine Company will flex their marketing muscle to change the conception of Portola Springs from a value village to a premium village now that they are selling homes in the prime location of Portola Springs (they did mistake thinking that they can get premium prices right off the bat without using momentum of sales like the builders did at Pavilion Park). 
4
Never ceases to amaze me how often people using current listing prices instead of actual closing prices for comparables.

Since homes usually sell around 95% of list price, if everyone used the closing price to list at, wouldn’t it create a downward spiral? 

Home 1: Lists at $100, closes for $95
Home 2: Lists at $95, closes for $90.25
Home 3: Lists at $90.25, closes at $85.74
And so on...


Market forces prevent that
5
General Real Estate and Mortgage Talk / Re: Housing Analysis
« Last post by USCTrojanCPA on December 07, 2019, 06:34:27 PM »
https://finance.yahoo.com/news/housing-market-2020-may-apos-111119494.html

Article above says entry level homes will go up in 2020 while expensive homes remain flat.

I can see that happening as the supply of lower end homes is a lot lower compares to higher end homes as a function of how many buyers there are in both markets.
6
General Real Estate and Mortgage Talk / Re: Owning.com
« Last post by Soylent Green Is People on December 07, 2019, 02:35:51 PM »
Since the cost is zero and you do not have a prepayment penalty to re-refinance through another company, what harm is there to proceed? Yes, your credit score will drop with new debt, but Owning's rates assume a 740 FICO. If you're in the 780s, new debt won't kneecap your score by 40-50 points for the next lender should rates come down further. Remember, if you're paying $2,000 per month, and $1,000 of that payment is interest, every month you wait is a $1,000 cost you could have reduced significantly with a no cost refi.

I get the question all the time "Why aren't banks giving me the same rate as Owning, Rocket Mortgage, AIM Loans etc?". They can - but it takes some strategic thinking, documentation, and some fact checking first.

Want that 3.50 30 fixed No Closing Cost refi Owning is offering? Well, are you at 60% LTV? Hmmm... Are you in a Single Family Home? No? How about your loan? Is it below $300,000? If not, then the terms will be different than what the ad says. The details are in the disclosure pages here:

https://www.owning.com/disclosure.html

or here:

https://www.owning.com/termsandconditions.html

I'm not picking on Owning, just pointing out that the Advertised Terms are not always the Final Terms you're going to get. Let's say you do fall into their pricing categories but you don't want your loan to get sold, and sold, and sold again. You have a certain comfort level with your Bank/Credit Union/Financial Institution and prefer to keep it with them. Their rate is not 3.5% but 3.875%. You've been a great customer over the years and keep $$$ with the bank, but just can't get the rate you want. Here's a couple reasons why you don't get that deal with the first call to your Bank:

If the Lending Officer gives Jenny Johnson a 3.5 rate because they want to land the deal, OK. If Sam Smith calls in 5 minutes later and wants the 3.5 rate that Jenny Johnson just got since their situation is the same (...it never is BTW) and the Bank does not give Sam Smith the deal, that's a Fair Lending issue. Bank's are sued often for discrimination, and plenty of barriers are put up so that the visible quoted rate data from a Bank is as generic and safe as possible, avoiding the chance for litigation to occur. Second, Banks have infrastructure - too much of it in some ways - bloating their cost of doing business. The rates quoted by some Banks reflect their legacy financial issues, brick and mortar branch costs, and the expense of keeping up with regulations. Smaller companies do not have these same costs and are able to push profit margins far below what a Big Bank can. Still, Big Banks need to make mortgages to survive and build customer relationships that extend beyond the loan itself. So what will allow a Bank to bring their pricing in line with others, while remaining on the good side of regulators?

Sam Smith should have in hand a written quote from another company when asking for a discount. Banks can offer deeply discounted terms to match the other sides written deal. Competitively Matching is allowable. In many cases a quote from Lender 1 might require impounds for that rate. Your Bank might match the rate and forgo the impound account. Once that "best deal" is in writing from a low cost provider, you could further sweeten the deal by bringing assets to the Bank, something that an Owning, Guaranteed Rate, or Quicken Loans cannot offer.

The path of least resistance is to take the easier deal. No question about that. Smaller firms with lower costs and nimble service can get the job done for you. If that easier deal however requires an impound account, is going to lead to your loan getting sold, has loan to value restrictions, or is unable to improve your loan terms based on a relationship, then getting a written offer first to set the baseline loan terms is the best way to get your local bank to price a loan competitively.

At present the most competitive fixed rate offers (PS - offers are not "locked rate or deliverable terms") are from Owning, Fremont Bank, Ally Bank, and many of the Zillow / BankRate online providers.  Competitive ARM quotes and the delivery thereof are a whole other post to come at a later time.

My .02c
7
Irvine Real Estate / Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Last post by OCLuvr on December 07, 2019, 11:02:57 AM »
USCtrojan—best Irvine realtor—has been saying this for a while. All the other communities have already shown their potential, but PS has yet to show its potential.
8
Never ceases to amaze me how often people using current listing prices instead of actual closing prices for comparables.

Since homes usually sell around 95% of list price, if everyone used the closing price to list at, wouldn’t it create a downward spiral? 

Home 1: Lists at $100, closes for $95
Home 2: Lists at $95, closes for $90.25
Home 3: Lists at $90.25, closes at $85.74
And so on...
9
I don’t think those pairings are accurate either. W irvine was not a tic project. Hi-Lo pairings are northpark-northpark square, Woodbury-Woodbury east, stonegate-stonegate east. Compared to the original villages, the add-on villages convey “value” in that they coattail off of the original vallage’s allure while providing lower quality amenities. When u look at the master planning of ps, there is no valueeningineering in terms of amenities or product attributes. Just look at the ambiance of enclave 1. Why cheaper? It’s a function of its proximity to amenities, including the 5/405. the pricipal demeriting factor for ps has been its distance and delays in executing on the promised amenities, which tic has finally been constructing lately, due to its ip projects.For the longest time, ps has been out in the boonies w no construction around it. Now w its own 2 elem schools, upcoming childcare, recently constructed sports park, tic doubling down its marketing on ps due to ip, gp amenities under construction in its vicinity, I believe ps may have a large long term upside potential, esp given gp homes’ high mr and once the new home smells are gone and ppl realize the downsides of living in 3 story homes.
10
I don’t think West Irvine was a TIC hood.
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