$150 to participate in TIC "Discussion Group"

ps99472

New member
So I get a call today to participate in TIC's discussion group for people planning to buy in the next 2 years.  Don't know how they got my number, probably from iPac and all those interest lists I signed up for..  So they're offering $150, I figure it wouldn't take up too much of my time.  So what are some of the grievances potential buyers have?  I'll compile a "Talk Irvine" list and present it to the focus group.

Here's what I think:

1.  Lot size shrinking vs sq. ft. increasing, proximity to neighbor is within arms reach
2.  Single family residence in motorcourts (Montecito)
3.  Lack of 3 car garages plus 3 car driveway in new developments (even in million dollar range)
4.  Great room becoming too "Great", lack of boundary in house
5.  Vaulted ceilings! At least in the entry way.
6.  Any SFR over 2500 sq ft should have additional living space (i.e. den downstairs plus loft upstairs)

 
How about you're building too many homes? Is there really that much demand and job openings in companies in Irvine?

Even rentals..go look at "The Park" apartments. They will depress prices if they keep building at this rate.
 
USCTrojanCPA said:
Higher and higher prices and Mello Roos along with the lack of buyer incentives.  :-X

Exactly.

Selling 2011 product at 2006 prices (e.g Laguna Altura).
 
crowded developments, lack of open space, few amenities in some developments, high costs
 
USCTrojanCPA said:
Higher and higher prices and Mello Roos along with the lack of buyer incentives.  :-X
Are Stonegate homes higher or lower than previous new developments? How about comparatively to resale homes?

From what I remember, the Maricopa homes are actually better priced than Sonoma with more bedrooms.

As for buyer incentives... why? It's a new home... that's the incentive. Other than negotiating on price... what type of buyer incentives do resale homes sellers normally give? A well-priced new home doesn't need incentives, IMO. Now if you are talking broker co-op, that's different and something I can agree with.
 
More variety in the floor plans (deck, separate living and dining room, courtyard, etc)...
From San Mateo to San Marcos to Maricopa, they have the same floor-plans but enlarged versions.
Same from Vienna to San Remo to Cortana...
 
ps99472 said:
So I get a call today to participate in TIC's discussion group for people planning to buy in the next 2 years.  Don't know how they got my number, probably from iPac and all those interest lists I signed up for..  So they're offering $150, I figure it wouldn't take up too much of my time.  So what are some of the grievances potential buyers have?  I'll compile a "Talk Irvine" list and present it to the focus group.

Here's what I think:

1.  Lot size shrinking vs sq. ft. increasing, proximity to neighbor is within arms reach
2.  Single family residence in motorcourts (Montecito)
3.  Lack of 3 car garages plus 3 car driveway in new developments (even in million dollar range)
4.  Great room becoming too "Great", lack of boundary in house
5.  Vaulted ceilings! At least in the entry way.
6.  Any SFR over 2500 sq ft should have additional living space (i.e. den downstairs plus loft upstairs)

I agree - motorcourts - big negative (but I get that they think its the only way to make these pseudo SFRs reasonably affordable, plus they can charge a premium over the traditional townhome layout since these are separate and have backyards).    Interestingly, do you think they should go back to building more traditional attached townomes?

However, I disagree with the idea of adding a  formal dining/ living room in lieu of shrinking the family room/casual dining area.  Ever since CalPac introduced the great  room only concept (circa 2003-2004?) I've been a huge fan.  Even with children, I don't really see the need for these largely unused rooms.  I have changed a bit and decided that a formal dining room wouldn't be all that bad of an idea, but think that its better executed in a floor plan that has at least 2500-2700 sq ft so that you don't detract from other living spaces.  I've seen several older 2000-2100 sq ft floor plans that have 4 bedrooms, plus a formal living/dining area - the family rooms and kitchens seem "tiny" by today's standards.  Personally, I love the big kitchen feel, and would prefer to sacrifice a living room for it.    i think Plan 6 at Corte Bella in Almalfi Hills (Yorba Linda) did a decent job at executing this. 

http://www.shapellhomes.com/communities/smartplan.cfm?plan=south-corte_bella-6.swf&community_id=335

Lastly, nice pricing in the low $300's for an SFR w/ driveway not under a toll road would be nice... 



 
irvinehomeowner said:
USCTrojanCPA said:
Higher and higher prices and Mello Roos along with the lack of buyer incentives.  :-X
Are Stonegate homes higher or lower than previous new developments? How about comparatively to resale homes?

From what I remember, the Maricopa homes are actually better priced than Sonoma with more bedrooms.

As for buyer incentives... why? It's a new home... that's the incentive. Other than negotiating on price... what type of buyer incentives do resale homes sellers normally give? A well-priced new home doesn't need incentives, IMO. Now if you are talking broker co-op, that's different and something I can agree with.

We almost purchased in Sonoma.  Plan 1 started in the high 7's, went into the 8's and dropped back down into the 7's.  We almost purchased in the last phase which had plan 1's at 62 or 66 Rolling Green for either $769.5 or 784.5 (slightly larger lot @ 3800sq ft).  In the end, we didnt since it was just 3 BRs and nothing else (wanted either a den or loft or something extra).    @ 2345 sq ft that price is comparable to Maricopa where plan 1 starts at about $786K for 2,262 sq ft.  Plan 2 Maricopa starts at $850K for 2577 sq ft.  Sonoma 3 was 2635 sq ft and was selling between high 8's to low 900's (last phase had $908K for 46 Honeyrose).  Plan 2 Sonoma was smaller than Maricopa 2 and ranged from low-high 8's.  All in all, the two communities are in the same ball park.  The Mellos at Sonoma is $4465 per year, also in the same ball park.

I agree in that I don't need any buyer incentives for BS options from the overpriced design center, or closing costs on an overpriced mortgage.  Those are fake incentives.  Also, design incentives jack up your closing price which means you pay property tax for the rest of your life on the built in desk/cabinet that you HAD to have.  If I could have 2,400 sq ft for 320/ft on a 4,000sq ft lot ($768K), we're in business.  $768K, with 20% down would also mean a $614K mortgage meeting conforming limits which would meet the needs of many buyers.     
 
akim997 said:
If I could have 2,400 sq ft for 320/ft on a 4,000sq ft lot ($768K), we're in business.
Now that's Fantasyland for Irvine Pacific.

Although... doesn't Las Ventanas come close to that?
 
$8,000 Donald Bren Credit for all 2011 purchases. Seriously not a joke, TIC houses will fly off the shelves.
 
@akim:

Actually, I don't think anyone wants the great room to go away, but they want more downstairs living space than just foyer to family room/dining/kitchen. For a 2400sft house, that's a huge waste of space.

In addition to the open great room area, a flex space that could serve as either a formal living, den, library, parlor, music room or formal dining would be great... and this is in addition to the required downstairs in-law bedroom.
 
irvinehomeowner said:
In addition to the open great room area, a flex space that could serve as either a formal living, den, library, parlor, music room or formal dining would be great... and this is in addition to the required downstairs in-law bedroom.
Here's a quick sketch of what I'm talking about:

1z50w38.jpg


It uses TIC's standard box format, minimized front yard but allows for a driveway and a porch area (I dislike that most new homes today don't have these outdoor front areas so you can sit and watch the kids play).

The fireplace is cornered to allow a TV wall that is viewable even from the kitchen.
 
irvinehomeowner said:
akim997 said:
If I could have 2,400 sq ft for 320/ft on a 4,000sq ft lot ($768K), we're in business.
Now that's Fantasyland for Irvine Pacific.

Although... doesn't Las Ventanas come close to that?

Close.  I hated plan 3 for TV location, and thought that plan 2 felt a bit small...  But close, though.  Only other issue with LV is they should the streets to Billy, Goats and Gruff to represent the fact you live under a bridge (or toll road)... 
 
irvinehomeowner said:
@akim:

Actually, I don't think anyone wants the great room to go away, but they want more downstairs living space than just foyer to family room/dining/kitchen. For a 2400sft house, that's a huge waste of space.

In addition to the open great room area, a flex space that could serve as either a formal living, den, library, parlor, music room or formal dining would be great... and this is in addition to the required downstairs in-law bedroom.

I'm with you on this one.    A lil something extra would be nice.    I'm not sure if I'm too used to the new floor plans or not.  I've seen the tustin ranch homes that are about 2400 sq ft, like this tract is San Miguel and have always felt like they were squishing too much in a small space. 
http://www.redfin.com/CA/Tustin/2320-Coffman-Dr-92782/home/4759878http://www.redfin.com/CA/Tustin/12091-Hermon-Dr-92782/home/4759544

Then again, it could be possible if you think about Ivywood in West Irvine.  It's a decent layout, has 4BR AND the a formal dining/living/parlor in 2100 sq ft...  just missing the downstairs inlaw suite. 
http://www.redfin.com/CA/Irvine/10-Sagewood-92602/home/5815043




 
Be sure to ask why Mello Roos is higher and higher when bond yield rates are at their all-time lows and the cost of infrastructure has probably come down since the bubble days (at worst remained flat). 
 
USCTrojanCPA said:
Be sure to ask why Mello Roos is higher and higher when bond yield rates are at their all-time lows and the cost of infrastructure has probably come down since the bubble days (at worst remained flat).

higher in $ and longer in terms...are the Mello Roos audited? how do we know it is not a scam?
 
And a quick break for kpop (46 seconds in for sweet solo)

[youtube]http://www.youtube.com/watch?feature=player_embedded&v=vOEH1M6wDU4[/youtube]

from across the DMZ.

And now back to Irvine RE...

I agree with alot of the posts..  MR does seem to go higher and higher...  wish there are more transparencies with what they do with the money.  Like I wouldn't mind if they name a tree after me or a portion of a sidewalk...As for pricing, we'll let the local market worry about that...  I'm more interested in what the houses offer on the inside, namely more living/functional space.  I think if Maricopa plan 2 has a loft upstairs and a smaller kitchen or Great Room to allow for a decent dining room, then it would be perfect for me.  Cortona plan 2 comes close, but price negates any possibility of us buying it. 
 
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