Altair vs GP-

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the.irvine

Active member
Would Altair offer more value, because it is still in Irvine, and closer to Bake and Alton. San Cyn is going to get messy come next 2-3 years.

 
Value?  Most likely Altair will charge Hill and Gate premium.

Let's wait for the pricing and MR come out. 



 
Everyone was weary of GP homes because of proximity to Musick Jail and Potential Cemetery.  Altair is right on  top of both.  It will create a good buffer for GP and PS3 residents for Musick escapees I suppose. 

What does Altair have over Baker Ranch?  Just 2 things, gate + school district.  Maybe density but it depends on specific locations within each community.  Are gate + school district worth $12k MR + $300k-$500k house price difference?  I guess we'll find out.

Keep in  mind BR has done a good job clogging Alton and Bake down to the 5.  It's not as nasty as Sand Canyon, but it's only a matter of time.
 
If I'm a Musick escapee who's just escaped from a gated facility, the last thing I want to do is running into another gated living community.  :)
 
MR is out of control. Wish there was something that can be done about it. Can these bonds be refinanced to better terms? I thought I remember they did something like that at CG
 
Is it confirmed that the MRs will be like the rest of the GP homes?
 
rickr said:
MR is out of control. Wish there was something that can be done about it. Can these bonds be refinanced to better terms? I thought I remember they did something like that at CG
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Curious about the details. If they did refinance, probably extend it another 30 or x amount of years.  It's good if it's early on. Bad if there's only another couple years left. 
 
AW said:
rickr said:
MR is out of control. Wish there was something that can be done about it. Can these bonds be refinanced to better terms? I thought I remember they did something like that at CG
Click to expand...
Curious about the details. If they did refinance, probably extend it another 30 or x amount of years.  It's good if it's early on. Bad if there's only another couple years left.
Click to expand...

It's my understanding that the MR in GP will be for a lifetime........these will not go away/mature to zero balance in 30 years like other typical MR. 
 
AW said:
rickr said:
MR is out of control. Wish there was something that can be done about it. Can these bonds be refinanced to better terms? I thought I remember they did something like that at CG
Click to expand...
Curious about the details. If they did refinance, probably extend it another 30 or x amount of years.  It's good if it's early on. Bad if there's only another couple years left.
Click to expand...

MR were refinanced in older areas because interest rates went down. Dropping interest rates isn't likely in the future, imo.

Older homes also have MR that are fixed and don't rise 2% per year.
 
AA said:
AW said:
rickr said:
MR is out of control. Wish there was something that can be done about it. Can these bonds be refinanced to better terms? I thought I remember they did something like that at CG
Click to expand...
Curious about the details. If they did refinance, probably extend it another 30 or x amount of years.  It's good if it's early on. Bad if there's only another couple years left.
Click to expand...

It's my understanding that the MR in GP will be for a lifetime........these will not go away/mature to zero balance in 30 years like other typical MR. 
Click to expand...

So in 30 years when GP is built out and infrastructure is in place and paid for. I would assume bonds would be paid off also. What would the MR be used for? How can that be legal?
 
rickr said:
Also, if they do not build out GP with all the amenities that were planned, what is the recourse?
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Reminded me of an older thread, paying MR for a grade school that's never been built near CG/Tustin area? wasn't sure if people tried suing
 
I don't know if they sued but there is no recourse. In fact mello can be used for more than just building schools. It's not very well regulated.

This is what Poway did with their funds:
http://www.kpbs.org/news/2013/aug/19/poway-school-district-mello-roos-tax-machine/

Then there is the well known (to TI) TUSD ridiculous building of a school they claimed didn't have enough enrollment (without even taking any kind of poll) so they used it for offices and a continuation high school.
 
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