Eastwood Village - what's the consensus today?

NEW -> Contingent Buyer Assistance Program
Who knows what will happen in the future, but I do know Petaluma is still selling like hotcakes despite it being the winter slow season, with price increases every phase. It's selling faster than I even thought before.
 
Homes that sell well when they are new tend to sell well when they are resales (look at San Mateo homes in Stonegate).  Petaluma is the entry level detached home which is in the sweet spot of the buyer pool.  Unless the entire market craps out, I can't see these homes dropping in value over the intermediate/longer term.
 
As long as those GP developments continue to charge those high MR, EW is going to do well. 

Petaluma, Helena, Belvedere and Avalon are all going to sell out by the year end and I don't foresee much resales of these homes in the future.  Get one before they are all gone. 
 
Eastwood homes seem to be selling well. I was eyeing Belvedere, but prices went up quite a bit with each phase. Piedmonte is still in consideration for us.
 
BangBros said:
Alright guys.  We're gonna drop a deposit tomorrow at Luma.

But just to make sure, the trailer trash across the street aren't going to be zoned or re-zoned to Eastwood elementary right?  ;D
Click to expand...

Haha  Those are for older folks bro.  That mobile home park is very profitable from the financials that I saw back in the day.  It's the Irvine of mobile home parks. 
 
As I recall with the original Eastwood plans, the most vocal folks against the development were those mobile home folks.  It's seniors only, so no kids to spoil your mainland filled Eastwood elementary.  If I was living in the trailers, I would be pissed too..  looking at your pretty lit up trees every single night, crowding Irvine blvd/Jeffrey.  Might be old white flight soon.

Dang, might be neighbors with Bangbros....
 
Dang... I haven't looked at new home pricing in a while... when did everything at TIC become so expensive?

I guess 2010 was the time to buy.
 
irvinehomeowner said:
Dang... I haven't looked at new home pricing in a while... when did everything at TIC become so expensive?

I guess 2010 was the time to buy.
Click to expand...

Prices are around or above 2007, according to several articles I read.
 
eyephone said:
irvinehomeowner said:
Dang... I haven't looked at new home pricing in a while... when did everything at TIC become so expensive?

I guess 2010 was the time to buy.
Click to expand...

Prices are around or above 2007, according to several articles I read.
Click to expand...

I don't know if TIC new builds for a 2000sft SFR were in the $900ks back then.

Let's ask the TI collective... anyone remember which villages were new circa 2007? I'm thinking Portola Springs and Woodbury. I don't remember what the pricing was... I do know that there were some PS homes close to $1m but those were much larger than 2000sft.
 
irvinehomeowner said:
eyephone said:
irvinehomeowner said:
Dang... I haven't looked at new home pricing in a while... when did everything at TIC become so expensive?

I guess 2010 was the time to buy.
Click to expand...

Prices are around or above 2007, according to several articles I read.
Click to expand...

I don't know if TIC new builds for a 2000sft SFR were in the $900ks back then.

Let's ask the TI collective... anyone remember which villages were new circa 2007? I'm thinking Portola Springs and Woodbury. I don't remember what the pricing was... I do know that there were some PS homes close to $1m but those were much larger than 2000sft.
Click to expand...
http://www.economiccalendar.com/201...-price-index-rises-0-4-now-6-above-2007-peak/
http://www.economicpopulist.org/content/case-shiller-shows-housing-unaffordable-6050

Do I think housing has more room to run? Yes, but the question is how much more.

 
BangBros said:
eyephone said:
http://www.economiccalendar.com/201...-price-index-rises-0-4-now-6-above-2007-peak/
http://www.economicpopulist.org/content/case-shiller-shows-housing-unaffordable-6050

Do I think housing has more room to run? Yes, but the question is how much more.
Click to expand...

As long as INS and CBP continues to allow mainland Chinese like the ones pictured below to immigrate here, make babies, get citizenship, there will be continued demand in Irvine, Rowland Heights, and Arcadia.  Explain to me why you wouldn't if you were a middle class in China...breathing in 500+ AQI index hazardous smog, corrupt government scandals, super competitive living standards and social problems, and hazardous milk, food, and other scandals, why wouldn't you come here when Uncle Sam welcomes you and your money in open arms?

Let's see what America offers:
1) The same! chinese food (check) - except that you know it's safe because it's regulated by the Food department and you can always get a lawyer to sue them if they used industrial oil to fry your fish instead of vegetable oil.
2) Tax evasion with cash only (check) (Look at AJ Restaurant on Jeffrey, totally cash only)
3) Good schools (check)
4) South Coast Plaza shopping, hand bags, and gucci and prada (check)
5) Luxury cars for 1/3 of the price compared to China's prices (check) - did u know BMW X5's in China are like $150k USD..due to taxes?  Over here, only $50k start.
6) Home prices still cheaper than even the most ridiculously expensive places like Shanghai (check)
7) Lawyers and doctors who will help you "game" the system (check)

hong_kong_tourists.jpg
Click to expand...

Analysts are predicting additional interest Rate hikes. If this happens...

On the other hand, if the economy takes off, then real estate should take off. If not, I don't see how regular people can afford it. (Maybe if they relax lending standards)
 
BangBros said:
eyephone said:
Analysts are predicting additional interest Rate hikes. If this happens...

On the other hand, if the economy takes off, then real estate should take off. If not, I don't see how regular people can afford it. (Maybe if they relax lending standards)
Click to expand...

Mainland Chinese usually pay all cash or atleast 50% down.  My H-1B Chinese friend dropped $350k cash down on a Cypress Village Marigold a few years back.  They are not affected by interest rate hike.  It's the Americans that are, not the mainland Chinese.  And let's be clear.  Almost all the traffic in Eastwood has been quite mainlandy these days.  You don't see much Hispanic, Swahilian, Yugoslavian, etc.  It's predominantly Chinese.

Like I said, there were four "college kids" looking at $800k+ homes in PS.  They all spoke fluent native Mandarin to themselves.  These kids I assure you don't have the income to do 20% down and financing.  It's atleast 50-100% down with daddy's money.

We need to keep Irvine safe and sound for these anchor baby mamas.  If they move out of Irvine, real estate is going to take a hit here.
Click to expand...

I'm not talking about chinese (Trump tone) buyers. Let me tell you this, many people got burned or shall I say kicked out of their homes because they bought during the peak last cycle. (Because they got arm loans, bought too many properties, price drop and walked away, took a loan on their house and paid for vacations or college tuition but couldn't pay it back)

I would wait in see who knows what will happen when he comes in office. If their is a US border tax (recent Trump tweet re border tax) good luck with car industry, apparel, electronics. People won't spend. Top it off with a trade war with China, and don't forget about North Korea.

 
Bro is spot on. As long as the US is a better place to live and make a living, people will keep coming. Regardless if they are chinese or not.

It's just that there are tonsssss of people in China and a small percentage can literally take over a country. IE Australia, Canada, and now the US.
 
You must log in or register to reply here.
Back
Top