More buildable land in Irvine after the current villages are built out?

Mr Irvine

New member
I had a conversation with a realtor the other day that was basically saying that new houses are always going to reduce the rate of appreciation for resale houses as everyone wants to buy new. I was under the impression that there is a limit to the buildable land and once the current villages (Orchard Hills, Portola, GP, etc.) are built out, the available land will start to be limited but this realtor was indicating that there will always be more buildable land in Irvine. Any thoughts from the forum?
 
I like resales because I like living in the middle of it rather than out in the extremes.  New homes are always being built away from everything else.
 
Sure there are a few small pocket of land like the UC research station off Irvine Blvd, the public storage across from Woodbury that are potential for future housing, but no big development like the one today.



 
Isn't GP still years away from being built out?

Also, what about that land north of the Irvine Auto Center? Heritage Fields?
 
zubs said:
I like resales because I like living in the middle of it rather than out in the extremes.  New homes are always being built away from everything else.

This is very true. I like the location of Woodbridge and University Park. Any way TIC would rebuild the entire old villages? Keeping the same houses and the same address numbers and all but just rebuilding with today's technology and materials. That would make those areas resales go crazy for sure.
 
Mr Irvine said:
I had a conversation with a realtor the other day that was basically saying that new houses are always going to reduce the rate of appreciation for resale houses as everyone wants to buy new. I was under the impression that there is a limit to the buildable land and once the current villages (Orchard Hills, Portola, GP, etc.) are built out, the available land will start to be limited but this realtor was indicating that there will always be more buildable land in Irvine. Any thoughts from the forum?

new homes will almost always hamstring resale appreciation due to the nature of new home "fixed" pricing (limited/no negotiation) and the additional inventory supply that new homes provide.  new homes are almost always priced above resale and thus providing a soft cap for resale prices.
 
Mr Irvine said:
I had a conversation with a realtor the other day that was basically saying that new houses are always going to reduce the rate of appreciation for resale houses as everyone wants to buy new. I was under the impression that there is a limit to the buildable land and once the current villages (Orchard Hills, Portola, GP, etc.) are built out, the available land will start to be limited but this realtor was indicating that there will always be more buildable land in Irvine. Any thoughts from the forum?

Certain types of housing product you can't find new, or are rare for new construction. For example, 3CWG, single story homes with no one above you, large lots. I think that will maintain the demand for certain types of older product. I don't think its true that everyone wants to buy new.  I would prefer an older house in Turtle Rock over new construction in the Great Park, for example. Clearly, a lot of other people feel the same way when you look at sold prices in Turtle Rock.




 
Kings said:
Mr Irvine said:
I had a conversation with a realtor the other day that was basically saying that new houses are always going to reduce the rate of appreciation for resale houses as everyone wants to buy new. I was under the impression that there is a limit to the buildable land and once the current villages (Orchard Hills, Portola, GP, etc.) are built out, the available land will start to be limited but this realtor was indicating that there will always be more buildable land in Irvine. Any thoughts from the forum?

new homes will almost always hamstring resale appreciation due to the nature of new home "fixed" pricing (limited/no negotiation) and the additional inventory supply that new homes provide.  new homes are almost always priced above resale and thus providing a soft cap for resale prices.

This is why Portola Springs resales can never achieve parity with its neighbors (PP, LR, etc.) because TIC prices new homes in Portola Springs below market because it is a value village.
 
As someone who lives in Portola Springs my first guess would be no retail in the neighborhood. Woodbury is not far and very nice, and I have no issue going there. But it does feel like there should be some retail in PS.
 
moc said:
As someone who lives in Portola Springs my first guess would be no retail in the neighborhood. Woodbury is not far and very nice, and I have no issue going there. But it does feel like there should be some retail in PS.

Yes, some kind of retail would be nice. Although I don't live in PS, I can visit if they had Target or even gas stations. Please don't put Arco though..
 
If you live in PS it's quick to get to Foothill Ranch for Target, WalMart, In-N-Out, Hobby Lobby, Ralphs, gas, etc. 

This is literally like a 9 minute drive you whiney babies.  If that's too long take the toll road to Alton ($1.75) and you can make it in about 5 minutes.
 
aquabliss said:
If you live in PS it's quick to get to Foothill Ranch for Target, WalMart, In-N-Out, Hobby Lobby, Ralphs, gas, etc. 

This is literally like a 9 minute drive you whiney babies.  If that's too long take the toll road to Alton ($1.75) and you can make it in about 5 minutes.

C'mon... if it takes "15 minutes" to get to Woodbury, getting to Foothill Ranch is like half an hour. :)
 
aquabliss said:
If you live in PS it's quick to get to Foothill Ranch for Target, WalMart, In-N-Out, Hobby Lobby, Ralphs, gas, etc. 

This is literally like a 9 minute drive you whiney babies.  If that's too long take the toll road to Alton ($1.75) and you can make it in about 5 minutes.

That's why we didn't buy in PS so that we can get to retails/plazas in less than 5 min with no toll road fees. But sure, 9-10 min is not too bad either.
 
aquabliss said:
If you live in PS it's quick to get to Foothill Ranch for Target, WalMart, In-N-Out, Hobby Lobby, Ralphs, gas, etc. 

This is literally like a 9 minute drive you whiney babies.  If that's too long take the toll road to Alton ($1.75) and you can make it in about 5 minutes.

Dude I literally said "Woodbury is not far and very nice, and I have no issue going there."

Whiney baby???
 
Retail would be nice instead of more homes honestly. Woodbury is really close to PS and that has a good mix of stuff. If there?s traffic maybe 8 min, Foothill Ranch 10min and Costco 15 min. You got Orchard Hills if you want Pavillions at like 12 min.

My issue is because of the density in the area and so many more homes/apartments coming these retail centers are getting crowded. That?s why I?d take retail over more homes every time.
 
I am going to agree that PS needs a retail center.

I found it weird they built the OH retail center and there were no OH homes yet... they even delayed them.
 
Back
Top