bkshopr_IHB
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Bench mark pricing will be $375/sf.
Bench Mark Pricing in Irvine
- Thread starter bkshopr_IHB
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NEW -> Contingent Buyer Assistance Program
this seems way to high, that puts a 2000 sq ft SFR at 750,000, if that is the case, ill take my money to costa mesa or north tustin
Sounds like a good plan. Perhaps they can attract a few foreign knife catchers. It will be a difficult sell when resales are averaging $200/SF in a couple of years.
The strategy is to build new with all the bell and whistle like the Iphone so the resales are considered obselete like the Motorola brick phone. Create gadgets like California outdoor room and expansive glass have seemless transition to the outdoor as well some mid century Modernism to appeal to the Gen. X
A 60% premium is pretty steep. I have a hard time imagining the properties will appraise that high and that banks will loan much on them. I also have a hard time imagining people are that stupid, but then again, I did witness a housing bubble.
BK: I am wondering - do the Chinese have any limits when it comes to what they will pay for a new construction? Let's just say they would have to pay twice as much per sqft for a new home as they would for a resale down the block... would that be considered all fine and well to them?
May be the first release would be purchase by TIC employees to create the news worthy events like retailers staging fake shoppers around the sales rack to lure in the real customers. I have seen Chinese restaurants hired extras to form lines outside the restaurants to drum up patronage.
3 car garages with full driveways may be just some of the bells and whistles. (I think I felt a tremble. IHO felt off his chair.)
New homes will never reach it. Once TIC benchmarks 375. Homeowners will reset their asking price. Greed factor.
I helped Serious Weapons negotiate the $1.65 using the skill I learned in my Triad seminar.
Bookie made the previous home owners an offer they just couldn't refuse.
They they say it's not what you know, it's who you know... I know Bookie.
If the Irvine school district maintains their high test scores and reputation, I think "THE I" could hit $375 a sqft easily by way of wealthy Asian immigrants that want the best "FREE" education for their childrens.
History is a possible indicator. Asian homebuyers started the buying frenzy right after the 90's recession. IHB bears follow the charts and graphs before buying. However Mr Zhu driving a white Lexus may be the ones buying the initial release and giving just enough ammunition for TIC to launch a PR campaign of housing recovery. Chinese buyers would pay high for "FREE" education. We would not know until then.
IrvineRenter_IHB
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They may even generate some sales... in 2025.
qwerty_IHB
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bkshopr said:
this seems way to high, that puts a 2000 sq ft SFR at 750,000, if that is the case, ill take my money to costa mesa or north tustin
bkshopr_IHB
New member
Resales will be based on new benchmark pricing. Strategy will be a release of limited number of new homes and just enough to satisfy the cravings of desperate Chinese buyers for new homes. As soon the transactions take place that creates the benchmark validation full press release to OCR, LA Times, Irvine Worlds News, and etc to create excitement and frenzy. Spirit writer Adam Probolsky will be anxiously waiting to publish the juicy news. A full page front page news will also be in OC Metro.
Former school site in Woodbury and the Esplanade site along the diagonal would likely be the sites of new release due to infrastructure already in place.
Former school site in Woodbury and the Esplanade site along the diagonal would likely be the sites of new release due to infrastructure already in place.
IrvineRenter_IHB
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bkshopr said:
Sounds like a good plan. Perhaps they can attract a few foreign knife catchers. It will be a difficult sell when resales are averaging $200/SF in a couple of years.
bkshopr_IHB
New member
IrvineRenter said:
The strategy is to build new with all the bell and whistle like the Iphone so the resales are considered obselete like the Motorola brick phone. Create gadgets like California outdoor room and expansive glass have seemless transition to the outdoor as well some mid century Modernism to appeal to the Gen. X
IrvineRenter_IHB
New member
bkshopr said:
A 60% premium is pretty steep. I have a hard time imagining the properties will appraise that high and that banks will loan much on them. I also have a hard time imagining people are that stupid, but then again, I did witness a housing bubble.
SoCal78_IHB
New member
bkshopr said:
BK: I am wondering - do the Chinese have any limits when it comes to what they will pay for a new construction? Let's just say they would have to pay twice as much per sqft for a new home as they would for a resale down the block... would that be considered all fine and well to them?
Mcdonna1980_IHB
New member
Are they going to incorporate mid-century modern design into Woodbury? If, so, I just can't see it! I need a visual aid please. I think some modern homes around The Great Park would work.
bkshopr_IHB
New member
IrvineRenter said:
May be the first release would be purchase by TIC employees to create the news worthy events like retailers staging fake shoppers around the sales rack to lure in the real customers. I have seen Chinese restaurants hired extras to form lines outside the restaurants to drum up patronage.
3 car garages with full driveways may be just some of the bells and whistles. (I think I felt a tremble. IHO felt off his chair.)
irvine_home_owner_IHB
New member
I would pay a 60% premium if they had a 3-car wide garage... not.
Isn't $375/sft around the current pricing for new homes in Irvine? Most resale is floating around the $300-$400 range depending on size/location... who has the latest Portola Springs pricing?
IR: Do you really see Irvine hitting $200/sft? That would be so awesome.
Isn't $375/sft around the current pricing for new homes in Irvine? Most resale is floating around the $300-$400 range depending on size/location... who has the latest Portola Springs pricing?
IR: Do you really see Irvine hitting $200/sft? That would be so awesome.
bkshopr_IHB
New member
irvine_home_owner said:
New homes will never reach it. Once TIC benchmarks 375. Homeowners will reset their asking price. Greed factor.
serious weapon_IHB
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Tits! I got my NP crib for a buck sixty a sqft!bkshopr said:
bkshopr_IHB
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A huge amount of money is dedicated to PR and press release. Do not under estimate TIC. You are all addicted to Irvine like crack. Your withdraw can only last so long before reaching for the syringe. Hope you all like triplex. Treo 2.0 may be the first to be released.
serious weapon_IHB
New member
You just made Irvine sound dirty.
bkshopr_IHB
New member
Serious Weapon said:
I helped Serious Weapons negotiate the $1.65 using the skill I learned in my Triad seminar.
usctrojanman29_IHB
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BS, that won't work. They can try to drum up all the PR and frenzy they want but Irvine is not on an island or made of gold. Yeah, it will always probably trade at a premium to most other cities in OC but not that much of a premium. No extra fancy glasswork, 5-car garages, casidas, or California rooms will help them move stucco boxes on postcard stamp lots for $375/sf in the near future (5+ years). The macroeconomic fundamentals will dictate what new home pricing will be. If they are holding out for $375/sf, it'll be a long while because they can capture that.bkshopr said:
serious weapon_IHB
New member
bkshopr said:
Bookie made the previous home owners an offer they just couldn't refuse.
They they say it's not what you know, it's who you know... I know Bookie.
serious weapon_IHB
New member
usctrojanman29 said:
If the Irvine school district maintains their high test scores and reputation, I think "THE I" could hit $375 a sqft easily by way of wealthy Asian immigrants that want the best "FREE" education for their childrens.
bkshopr_IHB
New member
Serious Weapon said:
History is a possible indicator. Asian homebuyers started the buying frenzy right after the 90's recession. IHB bears follow the charts and graphs before buying. However Mr Zhu driving a white Lexus may be the ones buying the initial release and giving just enough ammunition for TIC to launch a PR campaign of housing recovery. Chinese buyers would pay high for "FREE" education. We would not know until then.