Author Topic: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)  (Read 14225 times)

0 Members and 1 Guest are viewing this topic.

Offline Happiness

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 406
  • -Received: 354
  • Posts: 1746
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #75 on: December 04, 2019, 05:43:59 PM »
It's not just pure cuts of data, anyone can do that as mentioned by mountaineer.  The true analysis comes in when you are overlaying qualitative factors on top of the raw data like the following factors...

Size of the home (smaller homes trade for a higher price per SF, think of this as the Costco buying in bulk factor)

Attached versus Detached (detached homes trade for a higher price per SF compared to attached homes so if a village has more attached closings and another village which has more detached closings that'll throw the data off)

High mello roos versus low mello roos and high HOA vesus low HOA (properties with lower HOA and mello roos will tend to trade at a higher price SF than ones with high HOA and mello roos)

Lot size and location premiums (homes with larger and/or more desirable lots will trade for higher prices so if one village has more desirable lots than it will trade above average...think if turtle rock and turtle ridge)

Turnkey versus non-turnkey (homes that are turnkey and/or fully remodeled will trade for higher prices)

Single story vs two story vs three story (the less stories the higher price per SF)

Floor plans (newer open floor plans are more desirable the older compartmentalized ones)

I've always found that residential real estate is a both a mix of art and science or qualitative and quantitative factors.

Another big factor is the availability of new construction in a certain neighborhood which sets a ceiling on resale prices. This is a problem that has plagued Portola Springs resales for years because  of TIC marketing/pricing strategies.

Online irvinehomeowner

  • The Unicorn Hunter
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2257
  • -Received: 3644
  • Posts: 21153
  • 3CWG
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #76 on: December 04, 2019, 09:27:48 PM »
It's not just pure cuts of data, anyone can do that as mentioned by mountaineer.  The true analysis comes in when you are overlaying qualitative factors on top of the raw data like the following factors...

Size of the home (smaller homes trade for a higher price per SF, think of this as the Costco buying in bulk factor)

Attached versus Detached (detached homes trade for a higher price per SF compared to attached homes so if a village has more attached closings and another village which has more detached closings that'll throw the data off)

High mello roos versus low mello roos and high HOA vesus low HOA (properties with lower HOA and mello roos will tend to trade at a higher price SF than ones with high HOA and mello roos)

Lot size and location premiums (homes with larger and/or more desirable lots will trade for higher prices so if one village has more desirable lots than it will trade above average...think if turtle rock and turtle ridge)

Turnkey versus non-turnkey (homes that are turnkey and/or fully remodeled will trade for higher prices)

Single story vs two story vs three story (the less stories the higher price per SF)

Floor plans (newer open floor plans are more desirable the older compartmentalized ones)

I've always found that residential real estate is a both a mix of art and science or qualitative and quantitative factors.

Some people only believe in data, even if the context, sample or time measurement has flaws.
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
FCB: Foreign Cash Buyer
I recommend:
www.irvinerealtorsite.com
member: Soylent Green Is People (loans/refis)

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2211
  • -Received: 1746
  • Posts: 8566
  • Gender: Male
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #77 on: December 04, 2019, 11:44:37 PM »
It's not just pure cuts of data, anyone can do that as mentioned by mountaineer.  The true analysis comes in when you are overlaying qualitative factors on top of the raw data like the following factors...

Size of the home (smaller homes trade for a higher price per SF, think of this as the Costco buying in bulk factor)

Attached versus Detached (detached homes trade for a higher price per SF compared to attached homes so if a village has more attached closings and another village which has more detached closings that'll throw the data off)

High mello roos versus low mello roos and high HOA vesus low HOA (properties with lower HOA and mello roos will tend to trade at a higher price SF than ones with high HOA and mello roos)

Lot size and location premiums (homes with larger and/or more desirable lots will trade for higher prices so if one village has more desirable lots than it will trade above average...think if turtle rock and turtle ridge)

Turnkey versus non-turnkey (homes that are turnkey and/or fully remodeled will trade for higher prices)

Single story vs two story vs three story (the less stories the higher price per SF)

Floor plans (newer open floor plans are more desirable the older compartmentalized ones)

I've always found that residential real estate is a both a mix of art and science or qualitative and quantitative factors.

Another big factor is the availability of new construction in a certain neighborhood which sets a ceiling on resale prices. This is a problem that has plagued Portola Springs resales for years because  of TIC marketing/pricing strategies.

Yes, new home construction can have a big factor on resale homes in a village especially if you have a lot of unsold inventory like you do in Altair and Cadence Park in the higher end market and since buyers know that builders willing to negotiate on standing inventory home they'll use to their advantage when bidding on resale homes.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2211
  • -Received: 1746
  • Posts: 8566
  • Gender: Male
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #78 on: December 04, 2019, 11:52:11 PM »
It's not just pure cuts of data, anyone can do that as mentioned by mountaineer.  The true analysis comes in when you are overlaying qualitative factors on top of the raw data like the following factors...

Size of the home (smaller homes trade for a higher price per SF, think of this as the Costco buying in bulk factor)

Attached versus Detached (detached homes trade for a higher price per SF compared to attached homes so if a village has more attached closings and another village which has more detached closings that'll throw the data off)

High mello roos versus low mello roos and high HOA vesus low HOA (properties with lower HOA and mello roos will tend to trade at a higher price SF than ones with high HOA and mello roos)

Lot size and location premiums (homes with larger and/or more desirable lots will trade for higher prices so if one village has more desirable lots than it will trade above average...think if turtle rock and turtle ridge)

Turnkey versus non-turnkey (homes that are turnkey and/or fully remodeled will trade for higher prices)

Single story vs two story vs three story (the less stories the higher price per SF)

Floor plans (newer open floor plans are more desirable the older compartmentalized ones)

I've always found that residential real estate is a both a mix of art and science or qualitative and quantitative factors.

Some people only believe in data, even if the context, sample or time measurement has flaws.

Well, the data is the easy part so I'm not surprised.  Understand qualitative factors can be difficult and take a lot more time for people that are only closely tracking real estate on a regular basis.  Irvine is a tract home market where comp analysis is much easier than other cities where you have more unique homes but even if you have homes that are the same floor plans in Irvine you have to consider the factors that I mentioned earlier to approximate values.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Online OCLuvr

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 19
  • -Received: 32
  • Posts: 446

The following member(s) thanked this post:


Offline mountaineer

  • Tourist
  • *
  • Thanks
  • -Given: 9
  • -Received: 7
  • Posts: 26
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #80 on: December 05, 2019, 08:06:37 PM »
Thank you for sharing this. I'm sure everyone is tired of me, but PS is not what these forums make you believe it is. It's a nice neighborhood, among the other very nice villages in Irvine. It just deserves a little bit less criticism than what's said in these forums.

The few SFRs that Portola Springs has have some breathtaking views. Ours is similar in views and we only have neighbors to our left and right. Our row is elevated above the next row significantly (by 1 to 1.5 stories) and separated by a continuous row of 80-90 ft wide gardens, manicured and lighted meticulously by HOA. This, built after 2010 (which is what we wanted), didn't exist in any other village, except for OH, and for this, OH wanted at least 1.4 to 1.6 times the price.

I honestly can count, per minute, the number of cars on 241 in one hand, from 10 pm to 6 am. At rush hours, maybe it has 15-20 cars per minute passing by. This is what got me riled up, when 241 became the biggest source of hazard for PS in these forums, where arguably CV belongs to another galaxy when it comes to highway volume and proximity. The whole landfill / trash trucks / asphalt company / pesticide use / toxic plume / El Toro base affects the entire area one way or another, from OH to EW to SG to Woodbury to CV to GP to PP to Altair to PS. It's never ideal to be on the borders of the city, but that's life if you want newer construction within IUSD.
« Last Edit: December 05, 2019, 08:44:29 PM by mountaineer »

Offline WTTCHMN

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 15
  • -Received: 302
  • Posts: 1885
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #81 on: December 05, 2019, 08:59:00 PM »

Offline paydawg

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 42
  • -Received: 92
  • Posts: 762
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #82 on: December 06, 2019, 09:09:11 AM »
PS pricing for all the haters; fresh from the boilers plate...$516/sq ft
https://www.redfin.com/CA/Irvine/37-Small-Grv-92618/home/7203551?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

Not sure who the haters are.  Just facts.  This CV home was sold also at $516/sq ft.  No large lot, no spectacular views.  There must be something else that people value that put this CV home at the same $/sqft as that premium-lot PS home. 

https://www.redfin.com/CA/Irvine/107-Island-Coral-92620/home/112723755

Thanks in advance for the 'thanks'!!

Offline zubs

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 69
  • -Received: 392
  • Posts: 1977
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #83 on: December 06, 2019, 09:13:24 AM »
It's because PS is shoved into the extremities of Irvine & CV is closer to stuff.

Offline paydawg

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 42
  • -Received: 92
  • Posts: 762
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #84 on: December 06, 2019, 09:21:34 AM »
It's because PS is shoved into the extremities of Irvine & CV is closer to stuff.

That's exactly my point.  People value things differently and it appears more people DO value proximity/central location over a bigger home.  For those that value a large home at a value price, PS works. 

But part of the cost of living in PS is hidden in higher MR & slightly higher HOAs (except for Mountaineer's subdivision).  Your average $400/sq ft PS home should really be valued between $380-390 after factoring all the added expenses that don't get added to your house price. 

And just to be clear...I like PS a lot.  We considered buying a home in PS, but decided some of the other villages are a better fit for us. 
Thanks in advance for the 'thanks'!!

Offline mountaineer

  • Tourist
  • *
  • Thanks
  • -Given: 9
  • -Received: 7
  • Posts: 26
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #85 on: December 06, 2019, 09:23:04 AM »
PS pricing for all the haters; fresh from the boilers plate...$516/sq ft
https://www.redfin.com/CA/Irvine/37-Small-Grv-92618/home/7203551?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

Not sure who the haters are.  Just facts.  This CV home was sold also at $516/sq ft.  No large lot, no spectacular views.  There must be something else that people value that put this CV home at the same $/sqft as that premium-lot PS home. 

https://www.redfin.com/CA/Irvine/107-Island-Coral-92620/home/112723755

Here we go again.
OH home, at $462.
Wonder if OH is worse than CV? Not sure. Let me check the data or "facts".
https://www.redfin.com/CA/Irvine/73-Derby-92602/home/147965665

Or wait, PS Condo, at $547/sqft
https://www.redfin.com/CA/Irvine/64-Latitude-92618/home/21933240

Or wait, similar sized PS condo, at $522/sqft
https://www.redfin.com/CA/Irvine/155-Falcon-Rdg-92679/home/148425298

Wait, there must a be a reason people pay these prices for PS. Let me ponder. Oh, because PS is shoved in the extremities of Irvine.
The smaller the home, the higher than $/sqft.
Similar sized condo in PS is being sold at higher than your CV condo, as per above.

Online eyephone

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 357
  • -Received: 639
  • Posts: 11655
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #86 on: December 06, 2019, 09:26:53 AM »
But CV is by the 5 fwy..

Online akkord

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 0
  • -Received: 78
  • Posts: 484
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #87 on: December 06, 2019, 09:27:07 AM »
Are there cons for PS in your opinion?  ND, TI talking negatively is definitely one in your eyes, you talked about the pros, what are the cons?  There's always a compromise. 

**I want to remind you that the op asked specifically about this area and not other parts of Irvine. I answered appropriately to his question and will not write a book stating its worse or better elsewhere, you could go on forever doing that. I could have gone on to say Altair has absurdly high MR, yet that's not what the op asked.  A broad environmental concern is living near a toll road, is that a incorrect statement?  I'll say it another way, living further from the toll road is probably better than living closer to it. Better?

Thank you for sharing this. I'm sure everyone is tired of me, but PS is not what these forums make you believe it is. It's a nice neighborhood, among the other very nice villages in Irvine. It just deserves a little bit less criticism than what's said in these forums.

The few SFRs that Portola Springs has have some breathtaking views. Ours is similar in views and we only have neighbors to our left and right. Our row is elevated above the next row significantly (by 1 to 1.5 stories) and separated by a continuous row of 80-90 ft wide gardens, manicured and lighted meticulously by HOA. This, built after 2010 (which is what we wanted), didn't exist in any other village, except for OH, and for this, OH wanted at least 1.4 to 1.6 times the price.

I honestly can count, per minute, the number of cars on 241 in one hand, from 10 pm to 6 am. At rush hours, maybe it has 15-20 cars per minute passing by. This is what got me riled up, when 241 became the biggest source of hazard for PS in these forums, where arguably CV belongs to another galaxy when it comes to highway volume and proximity. The whole landfill / trash trucks / asphalt company / pesticide use / toxic plume / El Toro base affects the entire area one way or another, from OH to EW to SG to Woodbury to CV to GP to PP to Altair to PS. It's never ideal to be on the borders of the city, but that's life if you want newer construction within IUSD.

Online eyephone

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 357
  • -Received: 639
  • Posts: 11655
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #88 on: December 06, 2019, 09:30:27 AM »
But how about the noise and air pollution at cv. Is there a cell tower there?

Are there cons for PS in your opinion?  ND, TI talking negatively is definitely one in your eyes, you talked about the pros, what are the cons?  There's always a compromise. 

**I want to remind you that the op asked specifically about this area and not other parts of Irvine. I answered appropriately to his question and will not write a book stating its worse or better elsewhere, you could go on forever doing that. I could have gone on to say Altair has absurdly high MR, yet that's not what the op asked.  A broad environmental concern is living near a toll road, is that a incorrect statement?  I'll say it another way, living further from the toll road is probably better than living closer to it. Better?

Thank you for sharing this. I'm sure everyone is tired of me, but PS is not what these forums make you believe it is. It's a nice neighborhood, among the other very nice villages in Irvine. It just deserves a little bit less criticism than what's said in these forums.

The few SFRs that Portola Springs has have some breathtaking views. Ours is similar in views and we only have neighbors to our left and right. Our row is elevated above the next row significantly (by 1 to 1.5 stories) and separated by a continuous row of 80-90 ft wide gardens, manicured and lighted meticulously by HOA. This, built after 2010 (which is what we wanted), didn't exist in any other village, except for OH, and for this, OH wanted at least 1.4 to 1.6 times the price.

I honestly can count, per minute, the number of cars on 241 in one hand, from 10 pm to 6 am. At rush hours, maybe it has 15-20 cars per minute passing by. This is what got me riled up, when 241 became the biggest source of hazard for PS in these forums, where arguably CV belongs to another galaxy when it comes to highway volume and proximity. The whole landfill / trash trucks / asphalt company / pesticide use / toxic plume / El Toro base affects the entire area one way or another, from OH to EW to SG to Woodbury to CV to GP to PP to Altair to PS. It's never ideal to be on the borders of the city, but that's life if you want newer construction within IUSD.

Offline mountaineer

  • Tourist
  • *
  • Thanks
  • -Given: 9
  • -Received: 7
  • Posts: 26
Re: Land SE of PS/Altair (Modified: Environmental Concerns Broadly)
« Reply #89 on: December 06, 2019, 09:43:18 AM »
Are there cons for PS in your opinion?  ND, TI talking negatively is definitely one in your eyes, you talked about the pros, what are the cons?  There's always a compromise. 

**I want to remind you that the op asked specifically about this area and not other parts of Irvine. I answered appropriately to his question and will not write a book stating its worse or better elsewhere, you could go on forever doing that. I could have gone on to say Altair has absurdly high MR, yet that's not what the op asked.  A broad environmental concern is living near a toll road, is that a incorrect statement?  I'll say it another way, living further from the toll road is probably better than living closer to it. Better?

Thank you for sharing this. I'm sure everyone is tired of me, but PS is not what these forums make you believe it is. It's a nice neighborhood, among the other very nice villages in Irvine. It just deserves a little bit less criticism than what's said in these forums.

The few SFRs that Portola Springs has have some breathtaking views. Ours is similar in views and we only have neighbors to our left and right. Our row is elevated above the next row significantly (by 1 to 1.5 stories) and separated by a continuous row of 80-90 ft wide gardens, manicured and lighted meticulously by HOA. This, built after 2010 (which is what we wanted), didn't exist in any other village, except for OH, and for this, OH wanted at least 1.4 to 1.6 times the price.

I honestly can count, per minute, the number of cars on 241 in one hand, from 10 pm to 6 am. At rush hours, maybe it has 15-20 cars per minute passing by. This is what got me riled up, when 241 became the biggest source of hazard for PS in these forums, where arguably CV belongs to another galaxy when it comes to highway volume and proximity. The whole landfill / trash trucks / asphalt company / pesticide use / toxic plume / El Toro base affects the entire area one way or another, from OH to EW to SG to Woodbury to CV to GP to PP to Altair to PS. It's never ideal to be on the borders of the city, but that's life if you want newer construction within IUSD.

akkord: you're correct and factual. However, the bias in these forums, including how you manage to completely stay factual in order to not reveal your own bias against PS, is what's bothersome. You keep repeating you stand corrected, yet, the bias is unmistakably present in your statements. Bias, is a perceived phenomenon, and it's well perceived in these forums to be against PS, as repeated over and over again, when even limiting to this thread alone.

we all get it. I sifted through the data that SHOWED CLEARLY CV is selling higher than median price for any search criteria I did. CV is selling better than OH in the size of homes CV has. CV is selling better than QH. However, as USCTrojanCPA very brilliantly has pointed out, you CANNOT just keep simplifying the trends based on "PS is crap" "241 is near" "landfill this" to justify the trends in Irvine. CV is selling more because of other data points and other qualitative measures. Part of that may be the reputation, part of that may be the Asian community that simply prefers to be close together, part of that may be the proximity to certain Asian shops, etc. For example, my in-laws simply do not want to be in ANY VILLAGE including OH if the one and only criteria is not met: WALKING DISTANCE to a shopping mall.

All that gets me riled up is that you and others in these forums SIMPLIFY in the most dumb way the reasoning behind trends to "health hazards" and "extremes of Irvine". NorthPark used to extremes of Irvine, and look how central it is now.

 

Talk Irvine Links

[Recent Posts]
[FAQ / Rules]

Site Supporters



Related Links

Recent Posts

Re: Masks? by USCTrojanCPA
[Yesterday at 09:04:02 PM]


Re: Masks? by Innosint
[Yesterday at 08:50:42 PM]


Re: When/where/how did I receive a grant deed? by daedalus
[Yesterday at 08:39:30 PM]


Re: Masks? by irvinehomeowner
[Yesterday at 03:54:22 PM]


Re: How low can we go? 30 yr fixed at 3.75% with no fees... by mads
[Yesterday at 01:40:11 PM]

SimplePortal 2.3.5 © 2008-2012, SimplePortal