2010 Woodbury/WB East New Home Collection

[quote author="PANDA" date=1258356725][quote author="ABC123" date=1258353134][quote author="PANDA" date=1258346018]Most expensive to least expensive top 15. I was suprised to see that Irvine's median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?



</blockquote>


<a href="http://www.redfin.com/search#lat=33.58345076537893&long;=-117.6239575422898&market=socal&region_id=23777&region_type=6&v=5&zoomLevel=13">Las Flores</a> is around Mission viejo/Ladera Ranch



<a href="http://www.redfin.com/search#lat=33.78877264550055&long;=-118.08108177874696&market=socal&region_id=25398&region_type=6&v=5&zoomLevel=13">Rossmoor</a> is around Los Alimitos/ Leisure World</blockquote>


Is Las Flores the same city as Rancho Santa Margarita? I've heard some great things about RSM with a little younger demographics than Irvine. I think RSM also ranks high as one of the best places in live on Money magazine 2009.</blockquote>


Las Flores is next to RSM and shares the same zip code. I've looked around RSM, Ladera, and Coto. While the median price is high, the price per sqft is lower as far as I can tell, and there has been a much larger % drop in prices compared to Irvine. The homes are very nice and I would have no problem sending my kids to the schools there, if I had any. The population skews a little more white. If you're Asian, there are not many Asian restaurants or markets in the area, you'll probably have to drive to Irvine for that.
 
[quote author="USCTrojanCPA" date=1258347645][quote author="PANDA" date=1258346018]Most expensive to least expensive top 15. I was suprised to see that Irvine's median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?



1) Newport Coast

2) Laguna Beach

3) Newport Beach

4) Villa Park

5) Coto de Caza

6) Rossmoor

7) North Tustin

8) Seal Beach

9) San Clemente

10) Dana Point

11) Yorba Linda

12) Huntington Beach

13) Las Flores

14) Laguna Niguel

15) Irvine - median home price $561,200</blockquote>
That list is BS...forget about median home prices. The only reason is 15th is because it has so many damn condos. Keep your focus on price/sf...that is a great parameter to compare apples-to-apples. If you used that parameter, Irvine would be in 3 or 4.</blockquote>


You are spot on SCTrojan. You have to focus on price/sf. Median home price is crap data.
 
[quote author="Still Too High" date=1258362467][quote author="USCTrojanCPA" date=1258347645][quote author="PANDA" date=1258346018]Most expensive to least expensive top 15. I was suprised to see that Irvine's median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?



1) Newport Coast

2) Laguna Beach

3) Newport Beach

4) Villa Park

5) Coto de Caza

6) Rossmoor

7) North Tustin

8) Seal Beach

9) San Clemente

10) Dana Point

11) Yorba Linda

12) Huntington Beach

13) Las Flores

14) Laguna Niguel

15) Irvine - median home price $561,200</blockquote>
That list is BS...forget about median home prices. The only reason is 15th is because it has so many damn condos. Keep your focus on price/sf...that is a great parameter to compare apples-to-apples. If you used that parameter, Irvine would be in 3 or 4.</blockquote>


You are spot on SCTrojan. You have to focus on price/sf. Median home price is crap data.</blockquote>


Yup. I can agree with T-man. If you live in zip code 92603, you're living in the 5th most expensive zip code in all of Orange County. Too many cheap condos in Irvine would also skew this data.
 
[quote author="Still Too High" date=1258362467][quote author="USCTrojanCPA" date=1258347645][quote author="PANDA" date=1258346018]Most expensive to least expensive top 15. I was suprised to see that Irvine's median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?



1) Newport Coast

2) Laguna Beach

3) Newport Beach

4) Villa Park

5) Coto de Caza

6) Rossmoor

7) North Tustin

8) Seal Beach

9) San Clemente

10) Dana Point

11) Yorba Linda

12) Huntington Beach

13) Las Flores

14) Laguna Niguel

15) Irvine - median home price $561,200</blockquote>
That list is BS...forget about median home prices. The only reason is 15th is because it has so many damn condos. Keep your focus on price/sf...that is a great parameter to compare apples-to-apples. If you used that parameter, Irvine would be in 3 or 4.</blockquote>


You are spot on SCTrojan. You have to focus on price/sf. Median home price is crap data.</blockquote>


Did either of you bother to look that data up? Because according to the latest DataQuick sqft. pricing, for just SFRs, it would show the average Irvine sqft. price would be down to the 12, 13 or maybe even 14 spot. Yeah, 92603 would be near the top, but Irvine is a city and I can pluck zip codes from those areas listed above that are higher too. City wise, Irvine would be at the bottom of that list.
 
[quote author="High Gravity" date=1258355714][quote author="bkshopr" date=1258010917]





Homes were designed by Caucasians who do not even do stir-fry. The entire process were executed by westerners without a clue of the eastern philosophy totally absent of an Asian specialist to trouble shoot the products.



From the Ivy floor plan commentary post they did learn to get toilets away from the entry.



PM me if you want to avoid the bad floor plans.



I once took my hardcore Chinese relatives to PeiWei for a Chinese meal cooked by Mexican chefs. It was a disaster.</blockquote>


Open floor plan and California Room are for white people. Chinese do not use their kitchens for entertaining. Open floor plan is great if you are sipping merlot with your guests while the prime is rib slowly roasting in the oven; try having a conversation with anyone near the kitchen when there is a lobster getting wok-ed with the the exhaust fan full blast to keep the grease out of the room.



Chinese will enclose the California Room because they do not want the outdoor lifestyle. Outdoor lifestyle in Taipei or Beijing means death by lung cancer.



Chinese want high performing schools, period. There is no other reason the ghettos south of the 210 in Arcadia sell for premium prices other than Arcadia High School. TIC can build build a village of lean-to sheds for that "outdoor lifestyle" and Chinese will buy them up so long as Irvine schools continue to perform.</blockquote>


Only another fellow Chinaman knows this ancient Chinese secret. The California Room and open Kitchen are only for Charlie Chan, Foo Man Chu and Hop Sing.



I guess the Chinese consumers who participated in the survey cook La Choy in the microwave.



I would not sacrifice my everyday function for the 2 times a year entertaining events. Do consumers really entertain this much? Do people really keep their kitchen/great room clean always. Model homes are deceiving and really do not illustrate how people really live and especially Chinese.
 
[quote author="graphrix" date=1258366984][quote author="Still Too High" date=1258362467][quote author="USCTrojanCPA" date=1258347645][quote author="PANDA" date=1258346018]Most expensive to least expensive top 15. I was suprised to see that Irvine's median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?



1) Newport Coast

2) Laguna Beach

3) Newport Beach

4) Villa Park

5) Coto de Caza

6) Rossmoor

7) North Tustin

8) Seal Beach

9) San Clemente

10) Dana Point

11) Yorba Linda

12) Huntington Beach

13) Las Flores

14) Laguna Niguel

15) Irvine - median home price $561,200</blockquote>
That list is BS...forget about median home prices. The only reason is 15th is because it has so many damn condos. Keep your focus on price/sf...that is a great parameter to compare apples-to-apples. If you used that parameter, Irvine would be in 3 or 4.</blockquote>


You are spot on SCTrojan. You have to focus on price/sf. Median home price is crap data.</blockquote>


Did either of you bother to look that data up? Because according to the latest DataQuick sqft. pricing, for just SFRs, it would show the average Irvine sqft. price would be down to the 12, 13 or maybe even 14 spot. Yeah, 92603 would be near the top, but Irvine is a city and I can pluck zip codes from those areas listed above that are higher too. City wise, Irvine would be at the bottom of that list.</blockquote>


I think the problem is not comparing PSF versus median home prices. The problem lies with population. The population of Irvine is 200,000+. Villa Park has a population of 6,000. Yorba Linda has 60,000 people. I think Irvine is the largest city on that list. A city with such a huge population can never compete with cities/towns with much smaller populations when it comes to aggregate home prices.
 
[quote author="PANDA" date=1258355452]

Just curious... does anybody know how much the Chinese and Korean population has grown in Ladera Ranch in the past decade? I know the location is less desirable than Irvine, but i can totally see how Asians would find Ladera homes desirable. You can get some nice sized lots in Ladera for the money. I am curious to know where Asians are migrating to in south Orange County outside of Irvine. If i can't afford a home in Irvine, Ladera Ranch would be my second choice, then Aliso Viejo would be my third.</blockquote>


You are losing focus again Panda. I met you, and I think I understand what you want out of a move to the West Coast. You don't want to live in either Ladera OR Aliso Viejo. They are both fine places, but not for what you are looking for. Why would you want to move all the way out here from Chicago, and then settle for a second option? Are you one of those people who sees those Chrysler commercials for 0% interest for 72 months AND $10k rebate and think that's a good deal? Because it's not, that baby will be worth 25% what you paid for it as soon as you drive it off the lot. Think of this in the same sense. You KNOW you don't want that Chrysler --- so just stay focused on the one that will hold its value in the long run.



Oh, and by the way --- we have some Korean friends who used to live in Ladera. They sold and and moved to Columbus Grove. They feel that CG was a HUGE upgrade (and you know how a lot of folks feel about CG on this board). Ladrea for them was a crappy commute to work in Irvine during the week, and a crappy commute on the weekends to everything they wanted to do.
 
[quote author="bkshopr" date=1258367423][quote author="High Gravity" date=1258355714][quote author="bkshopr" date=1258010917]





Homes were designed by Caucasians who do not even do stir-fry. The entire process were executed by westerners without a clue of the eastern philosophy totally absent of an Asian specialist to trouble shoot the products.



From the Ivy floor plan commentary post they did learn to get toilets away from the entry.



PM me if you want to avoid the bad floor plans.



I once took my hardcore Chinese relatives to PeiWei for a Chinese meal cooked by Mexican chefs. It was a disaster.</blockquote>


Open floor plan and California Room are for white people. Chinese do not use their kitchens for entertaining. Open floor plan is great if you are sipping merlot with your guests while the prime is rib slowly roasting in the oven; try having a conversation with anyone near the kitchen when there is a lobster getting wok-ed with the the exhaust fan full blast to keep the grease out of the room.



Chinese will enclose the California Room because they do not want the outdoor lifestyle. Outdoor lifestyle in Taipei or Beijing means death by lung cancer.



Chinese want high performing schools, period. There is no other reason the ghettos south of the 210 in Arcadia sell for premium prices other than Arcadia High School. TIC can build build a village of lean-to sheds for that "outdoor lifestyle" and Chinese will buy them up so long as Irvine schools continue to perform.</blockquote>


Only another fellow Chinaman knows this ancient Chinese secret. The California Room and open Kitchen are only for Charlie Chan, Foo Man Chu and Hop Sing.



I guess the Chinese consumers who participated in the survey cook La Choy in the microwave.



I would not sacrifice my everyday function for the 2 times a year entertaining events. Do consumers really entertain this much? Do people really keep their kitchen/great room clean always. Model homes are deceiving and really do not illustrate how people really live and especially Chinese.</blockquote>


I would have to say BK, that I have meet a lot of First Gen Irvine Chinese and they have pretty much "Americanize" the ones who came here for college do not necessarily wok their duck and steam their fish; they pretty much cook American food, such as prime rib, turkey and salmon at get-togethers; now every day cooking might be different. The Chinese families that still cook traditionally are of lower economical social status; they couldn't/didn't come here for college, and still speak mainly their native tongue. Of course you know they live in S.G. Valley, South Bay, Roland Heights, Walnut, Diamond Bar & Chino...



The 2010 collection buyers will be the second generation children of these Americanize parents. And most certainly guarantee you that they don't saute beef & broccoli or deep fry crispy chicken. Well unless they just love to cook and have an background of some sort in Chinese food (momo ^_^)
 
[quote author="CK" date=1258369216][quote author="PANDA" date=1258355452]

Just curious... does anybody know how much the Chinese and Korean population has grown in Ladera Ranch in the past decade? I know the location is less desirable than Irvine, but i can totally see how Asians would find Ladera homes desirable. You can get some nice sized lots in Ladera for the money. I am curious to know where Asians are migrating to in south Orange County outside of Irvine. If i can't afford a home in Irvine, Ladera Ranch would be my second choice, then Aliso Viejo would be my third.</blockquote>


You are losing focus again Panda. I met you, and I think I understand what you want out of a move to the West Coast. You don't want to live in either Ladera OR Aliso Viejo. They are both fine places, but not for what you are looking for. Why would you want to move all the way out here from Chicago, and then settle for a second option? Are you one of those people who sees those Chrysler commercials for 0% interest for 72 months AND $10k rebate and think that's a good deal? Because it's not, that baby will be worth 25% what you paid for it as soon as you drive it off the lot. Think of this in the same sense. You KNOW you don't want that Chrysler --- so just stay focused on the one that will hold its value in the long run.



Oh, and by the way --- we have some Korean friends who used to live in Ladera. They sold and and moved to Columbus Grove. They feel that CG was a HUGE upgrade (and you know how a lot of folks feel about CG on this board). Ladrea for them was a crappy commute to work in Irvine during the week, and a crappy commute on the weekends to everything they wanted to do.</blockquote>


LOL. CK you know me too well and you are absolutely correct about the statement you made above. Irvine's inventory is so freakin tight right now at 500, it is to the point of being ridiculous! I won't lose my focus and keep my eyes on the prize. You too CK!
 
[quote author="PANDA" date=1258370749]



LOL. CK you know me too well and you are absolutely correct about the statement you made above. Irvine's inventory is so freakin tight right now at 500, it is to the point of being ridiculous! I won't lose my focus and keep my eyes on the prize. You too CK!</blockquote>


Yep, we are still focused. I'm seriously starting to have doubts about where Irvine ultimately lands --- but still holding out *hope* for that $250/sq ft median I had convinced myself would come to pass. I'm now coming up on my 3 year anniversary of reading IHB, and thought things would be more normalized than they are by this point. I mean, seriously --- it's almost 2010 and here we are with:



- Irvine homes are down what, 10% from peak? Yeah, there are some big losers down 30%+, but overall its just not that bad here compared to surrounding areas.



- A house on our very street just sold for $365/sq ft (over asking price with multiple bids). Uh, yeah. That's great if you own on this street. Not so great if you want to own on this street.



- Shadow inventory is still, well, in the shadows



- TIC held for a couple years, and is now confident enough to roll out a boat load of new homes. They are a lot of things, but stupid business people I think not.



- And last but certainly not least --- Irvine Renter is now selling houses



So WTF? Is this it? Is this the bottom? Is the big bang we were all waiting for just a big busto?



But all that said, Panda --- even if this is it, we are still not ditching Irvine. There ARE properties here for every price range...and even if our $550k target only gets us a really nice townhouse (and it would get us that today) or an older SFR, we are fine. I'm not willing to compromise on the location. Others may feel differently, but IMO a big backyard is not worth it you are spending all your time on a commute, or live so damn far out none of your friends want to come see you on the weekends.
 
Panda & CK, if you guys want to see $250/sf in Irvine the Asians (especially the Chinese) need to stop buying for about 6 to 9 months. I guaranty we will see $250/sf. Sadly this probably will not happen as even a crappy 2,609 sf Villa Rosa plan just sold for over $350/sf. I would bet it sold to an asian buyer.
 
Location obviously is key. If Irvine makes the most sense for you in terms of commute, amenities, food, or whatever else you want (it did for us) than you should look for a place in Irvine. You may just have to adjust your expectations a little, maybe look a little less for what you want and more for what you need. I still think prices will come down some, just maybe not as much as people here think or hope. No need to rush, you won't miss the boat. Just think of it as more time to save for the house you want.
 
[quote author="yankee_lover" date=1258368413][quote author="graphrix" date=1258366984][quote author="Still Too High" date=1258362467][quote author="USCTrojanCPA" date=1258347645][quote author="PANDA" date=1258346018]Most expensive to least expensive top 15. I was suprised to see that Irvine's median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?



1) Newport Coast

2) Laguna Beach

3) Newport Beach

4) Villa Park

5) Coto de Caza

6) Rossmoor

7) North Tustin

8) Seal Beach

9) San Clemente

10) Dana Point

11) Yorba Linda

12) Huntington Beach

13) Las Flores

14) Laguna Niguel

15) Irvine - median home price $561,200</blockquote>
That list is BS...forget about median home prices. The only reason is 15th is because it has so many damn condos. Keep your focus on price/sf...that is a great parameter to compare apples-to-apples. If you used that parameter, Irvine would be in 3 or 4.</blockquote>


You are spot on SCTrojan. You have to focus on price/sf. Median home price is crap data.</blockquote>


Did either of you bother to look that data up? Because according to the latest DataQuick sqft. pricing, for just SFRs, it would show the average Irvine sqft. price would be down to the 12, 13 or maybe even 14 spot. Yeah, 92603 would be near the top, but Irvine is a city and I can pluck zip codes from those areas listed above that are higher too. City wise, Irvine would be at the bottom of that list.</blockquote>


I think the problem is not comparing PSF versus median home prices. The problem lies with population. The population of Irvine is 200,000+. Villa Park has a population of 6,000. Yorba Linda has 60,000 people. I think Irvine is the largest city on that list. A city with such a huge population can never compete with cities/towns with much smaller populations when it comes to aggregate home prices.</blockquote>


Really? Because Irvine's population is higher makes the home prices less? Again, I am comparing SFRs here, not condos where higher density/population make a difference in price, which was my original point. And, just FYI Huntington Beach has about the same amount of housing stock and population. Why is the price per sqft. higher there? Sorry, but your point doesn't make much sense because there is no data to support such a claim.
 
You guys have to remember we have seen about 20% price drops and this is with historically low interest rates, I think it's reasonable to assume that there will be further price drops when interest rates go up (that is the only place for them to go). Just hold out as long as you can. Good luck.
 
I have to admit that I am wrong 6 months ago when I thought inventory will increase and put pressure on the housing prices by now. Looking back, this spring was the opportunity to buy this year. The way it looks, next year prices will stay roughly the same for at least the first half. If inventory increase towards the 2nd half of the year, prices will come down slightly. One way or the other, I don't believe there will be any significant price drop next year given so many people are waiting on the sideline to pull the trigger of buying.
 
[quote author="Look4house" date=1258381896]<strong>I have to admit that I am wrong 6 months ago</strong> when I thought inventory will increase and put pressure on the housing prices by now. Looking back, this spring was the opportunity to buy this year. The way it looks, next year prices will stay roughly the same for at least the first half. If inventory increase towards the 2nd half of the year, prices will come down slightly. One way or the other, I don't believe there will be any significant price drop next year given so many people are waiting on the sideline to pull the trigger of buying.</blockquote>


I wonder if you will have to admit that you were wrong six months from now.
 
[quote author="tmare" date=1258382379][quote author="Look4house" date=1258381896]<strong>I have to admit that I am wrong 6 months ago</strong> when I thought inventory will increase and put pressure on the housing prices by now. Looking back, this spring was the opportunity to buy this year. The way it looks, next year prices will stay roughly the same for at least the first half. If inventory increase towards the 2nd half of the year, prices will come down slightly. One way or the other, I don't believe there will be any significant price drop next year given so many people are waiting on the sideline to pull the trigger of buying.</blockquote>


I wonder if you will have to admit that you were wrong six months from now.</blockquote>


You don't need to wonder. Just pray I am wrong, 100% wrong.
 
Prices in Irvine will not go down. The New Home Collection is giving resellers a lot of confidence. Many Chinese want to move to Irvine. Not being familiar with history of prices $375/sf benchmark sounds just fine with sack cash buyers.
 
[quote author="roundcorners" date=1258370400][quote author="bkshopr" date=1258367423][quote author="High Gravity" date=1258355714][quote author="bkshopr" date=1258010917]





Homes were designed by Caucasians who do not even do stir-fry. The entire process were executed by westerners without a clue of the eastern philosophy totally absent of an Asian specialist to trouble shoot the products.



From the Ivy floor plan commentary post they did learn to get toilets away from the entry.



PM me if you want to avoid the bad floor plans.



I once took my hardcore Chinese relatives to PeiWei for a Chinese meal cooked by Mexican chefs. It was a disaster.</blockquote>


Open floor plan and California Room are for white people. Chinese do not use their kitchens for entertaining. Open floor plan is great if you are sipping merlot with your guests while the prime is rib slowly roasting in the oven; try having a conversation with anyone near the kitchen when there is a lobster getting wok-ed with the the exhaust fan full blast to keep the grease out of the room.



Chinese will enclose the California Room because they do not want the outdoor lifestyle. Outdoor lifestyle in Taipei or Beijing means death by lung cancer.



Chinese want high performing schools, period. There is no other reason the ghettos south of the 210 in Arcadia sell for premium prices other than Arcadia High School. TIC can build build a village of lean-to sheds for that "outdoor lifestyle" and Chinese will buy them up so long as Irvine schools continue to perform.</blockquote>


Only another fellow Chinaman knows this ancient Chinese secret. The California Room and open Kitchen are only for Charlie Chan, Foo Man Chu and Hop Sing.



I guess the Chinese consumers who participated in the survey cook La Choy in the microwave.



I would not sacrifice my everyday function for the 2 times a year entertaining events. Do consumers really entertain this much? Do people really keep their kitchen/great room clean always. Model homes are deceiving and really do not illustrate how people really live and especially Chinese.</blockquote>


I would have to say BK, that I have meet a lot of First Gen Irvine Chinese and they have pretty much "Americanize" the ones who came here for college do not necessarily wok their duck and steam their fish; they pretty much cook American food, such as prime rib, turkey and salmon at get-togethers; now every day cooking might be different. The Chinese families that still cook traditionally are of lower economical social status; they couldn't/didn't come here for college, and still speak mainly their native tongue. Of course you know they live in S.G. Valley, South Bay, Roland Heights, Walnut, Diamond Bar & Chino...



The 2010 collection buyers will be the second generation children of these Americanize parents. And most certainly guarantee you that they don't saute beef & broccoli or deep fry crispy chicken. Well unless they just love to cook and have an background of some sort in Chinese food (momo ^_^)</blockquote>


Then why are there (2) 99 Ranch markets, Zion, Fresia, and HK with a huge meat, live fish tanks, and fresh produce department?



The last time I checked none of them are selling prime rib and turkey. I just wonder who are really buying chicken with head and feet still attached, buying those live fish to be baked in the oven or buying the live crabs and lobster to be dipped in butter, cooked pig blood or buying the 200 varieties of Lee Kum Kee sauces to be used in the oven or microwave.



You would be surprised that a wok is being used in many diverse households of different economic strata. Chinese and food are like ying and yang. This harmony exists in both indigent and wealthy class.
 
[quote author="bkshopr" date=1258383545]Prices in Irvine will not go down. The New Home Collection is giving resellers a lot of confidence. Many Chinese want to move to Irvine. Not being familiar with history of prices $375/sf benchmark sounds just fine with sack cash buyers.</blockquote>
But graphrix says FCBs are a myth.
 
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