Eastwood is way over priced

[ChasingRainbows]

Petaluma vs. Jasmine kitchen comparison. 
Photo of Jasmine kitchen from IP site. Photo of Petaluma from Irvinetabby.

I don't like the exhaust fan cord hanging out. Couldn't they pick another exhaust fan to hide the cord?

Is the exhaust fan missing the vertical piece that covers up the duct?

 

[paydawg]

Petaluma vs. Jasmine kitchen comparison. 
Photo of Jasmine kitchen from IP site. Photo of Petaluma from Irvinetabby.

I don't like the exhaust fan cord hanging out. Couldn't they pick another exhaust fan to hide the cord?

Is the exhaust fan missing the vertical piece that covers up the duct?

That can't be a completed kitchen, correct?  If that is complete, wouldn't they have done more to strap the wire along the duct or conceal it in some way? 

 

[jmoney74]

Petaluma vs. Jasmine kitchen comparison. 
Photo of Jasmine kitchen from IP site. Photo of Petaluma from Irvinetabby.

oooh yes that is quite a gap. 

The cabinets are not tall enough so they couldn't put the small cabinet/door to cover that exhaust up.  WOW. 

 

[NewtoIrvine1]

Just surprised at how fast this type of house has risen in price

San Mateo Mid 500k (2012)
Jasmine Mid 600 (2014)
Petaluma High 700 (2016

I know Irvine price has gone up by 15% a Year ....  Especially if you look at Zillow, Petaluma just seems overpriced as stated

 

[lnc]

Just surprised at how fast this type of house has risen in price

San Mateo Mid 500k (2012)
Jasmine Mid 600 (2014)
Petaluma High 700 (2016

I know Irvine price has gone up by 15% a Year ....  Especially if you look at Zillow, Petaluma just seems overpriced as stated

Those San Mateo owner must be laughing out loud right now when they saw the price tag on Petaluma.

Here's San Mateo phase 1 base price back in early 2011.

plan 1. base $559,000

plan 2. base $569,000

plan 3. base $595,000

 

[OC-Broker]

Given that the overal oc real estate market has appreciated by at least 35% since 2011, Eastwood may be priced right. Eventually, though I think all irvine builders are going to hit a rough patch in 2016 with the glut of new homes being built and the lack of foreign money trickling in.

 

[Goriot]

Just surprised at how fast this type of house has risen in price

San Mateo Mid 500k (2012)
Jasmine Mid 600 (2014)
Petaluma High 700 (2016

I know Irvine price has gone up by 15% a Year ....  Especially if you look at Zillow, Petaluma just seems overpriced as stated

How much options are included in those Phase 1 Plan 1 Petaluma homes? Probably with flooring approx. $50k to $70k so the starting base price is probably low to mid $700k starting from Phase 2.

 

[eatthis]

Eventually, though I think all irvine builders are going to hit a rough patch in 2016 with the glut of new homes being built and the lack of foreign money trickling in.

I think supply of new homes will have a bigger effect than $/sqft. There are plenty of well heeled cities with starter homes starting from $600+/sqft. I'm not saying we will be there any time soon but it is not unthinkable once Irvine is fully built out.

 

[NewtoIrvine1]

Given that the overal oc real estate market has appreciated by at least 35% since 2011, Eastwood may be priced right. Eventually, though I think all irvine builders are going to hit a rough patch in 2016 with the glut of new homes being built and the lack of foreign money trickling in.

http://www.zillow.com/irvine-ca/home-values/

580k average sold price in irvine When San Mateo Launched in Early 2011

724k average sold price today

Up roughly ~25% by my count not quite the 39% appreciation in this type of house. With even cheaper construction material and cheap look i don't see how it command the 780k+ prices for phase 1

 

[Ready2Downsize]

Heard there are buyers from the bay area cashing in and buying down here for cash so maybe you aren't going to see that much of a hit from foreign money drying up.

My daughter's boyfriend told me people from California have been moving to Colorado after cashing out here raising their prices (above what they consider affordable like the FCB have done here) and the locals are none too happy to have to pay higher prices.

We cashed out of Irvine and paid cash in Tustin same as the above scenarios and I've met quite a few others here who did the same thing.

 

[aquabliss]

My daughter's boyfriend told me...

Famous last words...

 

[eyephone]

My daughter's boyfriend told me...

Famous last words...

Lol

 

[jmoney74]

Heard there are buyers from the bay area cashing in and buying down here for cash so maybe you aren't going to see that much of a hit from foreign money drying up.

My daughter's boyfriend told me people from California have been moving to Colorado after cashing out here raising their prices (above what they consider affordable like the FCB have done here) and the locals are none too happy to have to pay higher prices.

We cashed out of Irvine and paid cash in Tustin same as the above scenarios and I've met quite a few others here who did the same thing.

correct.. white flight took off and went to CO.. Boulder is a pretty expensive place to live now.

 

[eyephone]

Heard there are buyers from the bay area cashing in and buying down here for cash so maybe you aren't going to see that much of a hit from foreign money drying up.

My daughter's boyfriend told me people from California have been moving to Colorado after cashing out here raising their prices (above what they consider affordable like the FCB have done here) and the locals are none too happy to have to pay higher prices.

We cashed out of Irvine and paid cash in Tustin same as the above scenarios and I've met quite a few others here who did the same thing.

correct.. white flight took off and went to CO.. Boulder is a pretty expensive place to live now.

https://www.colorado.gov/pacific/revenue/colorado-marijuana-tax-data

Another reason for the boom in Colorado

 

[Ready2Downsize]

His point was, we have cash buyers from China, but other areas have cash buyers from California. His family sold their ranch in Durango for cash to a Californian and it's been a bit of a sore spot with the locals that houses are unaffordable because of the cash coming from Californians with cash.

A friend of mine shocked me when he said he was selling his Santa Barbara home and moving to Texas with his cash.

I've got plenty of cash left over from my move plus other cash I had before we moved. Significant move downward would get me to buy a second home for my kids in Irvine and I'll bet there are plenty of others to compete with me, so I don't really see the Chinese money drying up as any huge problem. Just a more normal market. Best chance of getting a house with a "better value" is buying resale where you can hope to find someone who has to move.

 

[Ready2Downsize]

It's been going on in CO for many years. Similar to Portland and areas of Texas. I doubt people are paying cash for houses because of pot.

 

[eyephone]

It's been going on in CO for many years. Similar to Portland and areas of Texas. I doubt people are paying cash for houses because of pot.

I'm not making this up, check out an excerpt below from an article. This guy is a real estate broker.

"J.P. Speers, a real estate broker at Berkshire Hathaway Home Services, believes that legal marijuana has pushed the housing market up. Between millennials who are influenced to move by the idea of legal access to the drug and out-of-state entrepreneurs looking to establish themselves in the industry, Speers says people want to be in Denver. ?I do believe that there has been a huge amount of individuals who have moved out here specifically for the marijuana industry, and it has affected the housing market,? he said. "

Source:https://newrepublic.com/article/123084/green-rush-and-denvers-housing-crisis

 

[eyephone]

His point was, we have cash buyers from China, but other areas have cash buyers from California. His family sold their ranch in Durango for cash to a Californian and it's been a bit of a sore spot with the locals that houses are unaffordable because of the cash coming from Californians with cash.

A friend of mine shocked me when he said he was selling his Santa Barbara home and moving to Texas with his cash.

I've got plenty of cash left over from my move plus other cash I had before we moved. Significant move downward would get me to buy a second home for my kids in Irvine and I'll bet there are plenty of others to compete with me, so I don't really see the Chinese money drying up as any huge problem. Just a more normal market. Best chance of getting a house with a "better value" is buying resale where you can hope to find someone who has to move.

Here's the thing people are leaving California, but there is such a demand for housing in California. I would say the same thing with NYC.

 

[irvinehomeowner]

Chinese cash, Greek stocks... whatever... people will always want to live in Irvine and other "premium" areas.

In 5-7 years, Eastwood prices will look reasonable.

 

[momopi]

Heard there are buyers from the bay area cashing in and buying down here for cash so maybe you aren't going to see that much of a hit from foreign money drying up.

My daughter's boyfriend told me people from California have been moving to Colorado after cashing out here raising their prices (above what they consider affordable like the FCB have done here) and the locals are none too happy to have to pay higher prices.

We cashed out of Irvine and paid cash in Tustin same as the above scenarios and I've met quite a few others here who did the same thing.

correct.. white flight took off and went to CO.. Boulder is a pretty expensive place to live now.

http://www.governing.com/gov-data/denver-gentrification-maps-demographic-data.html