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For those who live or have lived in IAC apartments as renters which properties would you recommend for a single person renting a one bedroom to look into; conversely, which properties would you avoid? Budget would be around $1600-2100/mo.

If Orchard Hills East, that is the Northwood High side, offered its homes starting at $750K for the same prospective spec. design instead of $1.25M, I'd be a v. interested potential buyer.

Daedalus, for a time the market makers were the knife-catching flippers circa early 2007.

<p>As regular readers of this blog, you know that California, OC, and Irvine homes have seen a dramatic fall off in the number of transactions since the bubble peaked in mid-2006. Yet, median home prices have been relative stable (excluding seller incentives). Why is that? Shouldn't...

<p>IAD,</p> <p>We know that housing prices will fall, and fall hard. It's just a matter of time. As for the banks, if I were a banker I'd want to take my lumps now with minimal stress rather than drag it out for several years.</p>

...I would offer to buy up all the foreclosed properties held by the banks at a 50 percent discount to their current asking price. Sure, the banks would take it hard, but at least they could write down the value of their portfolio and get on with the business of banking instead of being landlords.

<p>Reason,</p> <p>Found on ZipRealty:</p> <p> 51 SCONSET LANE Irvine, 92620 $629,999 Beds: 3 | Baths: 3 | Sq. Ft.: 2,000 | Lot Size: N/A Year Built: 2000 | Listing Date: 07/16/07 22 BUTTERFLY Irvine, 92604 $639,000 Beds: 3 | Baths: 3 | Sq. Ft.: 2,141 | Lot...

<p>Irv Soul Bro,</p> <p>I know that Irvine and Detroit are in different leagues price-wise, but not percentage decline-wise. A 2000 sqft home home in Irvine might go for $700K, while the same property would go for $170K in Detroit. However, I expect in early 2010 you could see the price in...

<p>biuniu,</p> <p>What I am saying is that as the downturn comes into full force over the next few years, Irvine is positioned better than most impacted communities to recover quickly because of its strong culture, values, and infrastructure. Would you rather be living in Detroit or Irvine...

<p>Irvine is in a great position to rebound from the California home price collapse because of its foundation of good schools, low crime, and a neighborly culture remains intact despite the speculative asset bubble in housing. There are many saavy, well-off folk of both current residents and...

<p>CK and ocorbust,</p> <p>I think you are confused by my original point. I am not arguing that Irvine isn't upper-middle class, rather I am pointing out that TIC is the illogical party here in assuming that Irvine homeowners are rich enough to afford its homes priced at $600K and up. Now...

<p>IR,</p> <p>I'll ask you one point as a resident who may know such a thing: Would you say that TIC made out the most during this bubble period because Donald Bren could raise land prices several-fold as builders competed to get TIC's business? Whereas in 2000 home values were mostly in the...

<p>CK,</p> <p>I think having an opinion is what makes community message boards lively, and I'm glad you have one too. Anyway, I get all my data from official statistics and reporting, so it's not like I'm making it up to push an agenda. As i said earlier, I admire Irvine and the people who...

<p>Janet,</p> <p>That just goes to show you how much of a real estate bubble we have been enduring these past few years.</p>

<p>Janet,</p> <p>Greenwich, Beverly Hills, and Palm Beach have outsized price ratios because the townfolk can afford it. In each place there is a major divergence between the wealthy and ordinary folk and immigrant servants. Those trio of homeowners are truly rich because they have a base of...

<p>If you <a href="http://money.cnn.com/magazines/moneymag/bplive/2007/snapshots/PL0636770.html">check out</a> how Irvine compares to the average top 100 community in 2007 according to Money magazine you will see how similar the two compare except in the cost of housing. The median home price...

<p>A resident of Irvine should be called: a) Irviner; b) Irvinite</p> <p>I prefer "Irviner" because it is a strong, hardy sound, while "Irvinite" feels meek and too prole.</p>

<p>IR,</p> <p>Do you think TIC will ever get its $1.25+ million asking price for Orchard Hills during a period where the effects of the housing crash will be still be felt? Or will they have to reduce the prices drastically? Remember that a $2.25 million dollar 3800 sqft home requires an...

<p>gepetoh,</p> <p>If you look at my other post on Irvine census of 2000 family income and home prices, you'll see that not too long ago the median price of a house was in the upper $300K. Residents then could rationally budget mortgage costs as a reasonable percentage of their take-home pay...

<p>HS teacher,</p> <p> You must make a lot of extra income because someone who earns $85K a year, nets only $60K or $5K a month after taxes. To support a $400K home at 6.50 interest rate it would cost $2401/mo. with 5% down. That is just the loan payment, it does not include property taxes...