Author Topic: Great Park Retail  (Read 1896 times)

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Offline Irvinecommuter

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Re: Great Park Retail
« Reply #30 on: January 09, 2019, 09:41:40 AM »
imo, greenwood (Crawford and Stafford specifically) will have a lot of problems as resales go. It needs a really big bull market to make money in those homes.

Are these homes really zoned to Tustin High School?  How is that school?  It's rated a 7 on greatschools and I feel like the only school I can trust in TUSD is Beckman.  Do other people think differently?

I think it is right now but they are building a new school.  It's going to be a magnet school.

https://www.tustin.k12.ca.us/departments/business-services/maintenance-operations-facilities/projects

Interestingly...the people who designed the layout for Beacon Park are the same ones designing the layout for Greenwood.

http://naturallygreatdesign.com/portfolio/greenwood-at-tustin-legacy/

Offline Mety

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Re: Great Park Retail
« Reply #31 on: January 09, 2019, 10:28:03 AM »
Tustin Legacy and Baker Ranch are doing a pretty good job with keeping up with Irvine trend. The homes are a lot more expensive than the rest of Tustin or Lake Forest. However, they are not Irvine. They will remain a different city, which is totally fine, but they will never have that Irvine premium to the fullest. The location wise though, TL is superior. One thing I would avoid is buying homes close to Jamboree, freeways, and the railroad.




#fepo

Offline Irvinecommuter

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Re: Great Park Retail
« Reply #32 on: January 09, 2019, 10:38:18 AM »
Tustin Legacy and Baker Ranch are doing a pretty good job with keeping up with Irvine trend. The homes are a lot more expensive than the rest of Tustin or Lake Forest. However, they are not Irvine. They will remain a different city, which is totally fine, but they will never have that Irvine premium to the fullest. The location wise though, TL is superior. One thing I would avoid is buying homes close to Jamboree, freeways, and the railroad.

And the gravel/cement factory!

Offline Since89

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Re: Great Park Retail
« Reply #33 on: January 09, 2019, 04:29:05 PM »
And a prison

Offline Kenkoko

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Re: Great Park Retail
« Reply #34 on: January 11, 2019, 01:12:12 PM »
imo, greenwood (Crawford and Stafford specifically) will have a lot of problems as resales go. It needs a really big bull market to make money in those homes.

I agree on Crawford. I think not having a driveway in the 1.5 mil price range will be a big turnoff for a lot of potential buyers.

I am more optimistic on Stafford however. I think Stafford have some of the best floor plans I've seen in the last few years. ( I've seen a lot too)

The biggest surprise in Greenwood to me has been Huntley. Most of these backs up to Jamboree and were sold for 900s. So far the few Huntley resale has been over 1.2 mil.

Offline Kenkoko

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Re: Great Park Retail
« Reply #35 on: January 11, 2019, 01:35:09 PM »
But Kenkoko's posts say that Greenwood is trading the same as Irvine... what problems do you feel are contrary to that (other than the Jamboree Super Highway :) )?

It's not just my opinion. Numbers don't lie.
Go ahead and compare Greenwood resale homes to 2/3 year old resale homes in GP or anywhere else in Irvine. They are shockingly similar.

Offline ThirtySomethingWEquity

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Re: Great Park Retail
« Reply #36 on: January 11, 2019, 01:59:47 PM »
imo, greenwood (Crawford and Stafford specifically) will have a lot of problems as resales go. It needs a really big bull market to make money in those homes.

I agree on Crawford. I think not having a driveway in the 1.5 mil price range will be a big turnoff for a lot of potential buyers.

I am more optimistic on Stafford however. I think Stafford have some of the best floor plans I've seen in the last few years. ( I've seen a lot too)

The biggest surprise in Greenwood to me has been Huntley. Most of these backs up to Jamboree and were sold for 900s. So far the few Huntley resale has been over 1.2 mil.

Sold for 900s or that was the starting price?  Because if you add in options + landscaping + transaction costs, that's not a great return at all.

Offline Kenkoko

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Re: Great Park Retail
« Reply #37 on: January 11, 2019, 02:49:19 PM »
Sold for 900s or that was the starting price?  Because if you add in options + landscaping + transaction costs, that's not a great return at all.

The starting price was high 800s to low 900s for Huntley. It was the final sold price. Options were already included. Only backyard landscaping was not. Judging from the pictures, it wouldn't be more than 50k. Even with a 6% commission cost, it's still not a bad return for 18 months.

Nov 7, 2016   
Bought for   $952,000
Apr 27, 2018   
Sold for $1,215,000   
https://www.redfin.com/CA/Tustin/305-Barnes-Rd-92782/home/108306879#property-history

Offline IHS3000

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Re: Great Park Retail
« Reply #38 on: January 12, 2019, 10:17:03 AM »
About three months ago, the OC Business Journal, published a interview of Emile Haddad, CEO of Fivepoint. The OC Business Journal asked Haddad about homes on top of business developments (Base Camp or The Village - European style).  Haddad stated they are still in talks with the city and he hoped to start (construction) in 2020.

http://www.ocbj.com/news/2018/sep/24/what-will-irvine-look-20-years/

Note: a paid subscription is required to read the entire OCBJ article.

https://fivepoint.com/elements/commercial.html

« Last Edit: January 12, 2019, 12:44:48 PM by IHS3000 »

 

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