From IHO to ex-IHO and back: The Pros and Cons of Renting vs. Owning in Irvine

[PANDA_IHB]

IHO,

I wonder if the situation would be different for home owners who rent out higher end homes like Villa Rosa or Mills Fluers? I did see several of them on IR2's Lease Sheet. I would imagine you get a much higher qualified tenants who would stay much longer term than just one year because of the junk they would accumulate over time. I would also imagine that it would take double the time to rent out than a 1750 square feet SFR. What do you think?

IR2, have you seen several instances where the tenants have purchased the homes directly from the landlord? Sort of like the situation where CK would buy his West Irvine SFR from the owner?

 

[bkshopr_IHB]

IHO,

I wonder if the situation would be different for home owners who rent out higher end homes like Villa Rosa or Mills Fluers? I did see several of them on IR2's Lease Sheet. I would imagine you get a much higher qualified tenants who would stay much longer term than just one year because of the junk they would accumulate over time. I would also imagine that it would take double the time to rent out than a 1750 square feet SFR. What do you think?

IR2, have you seen several instances where the tenants have purchased the homes directly from the landlord? Sort of like the situation where CK would buy his West Irvine SFR from the owner?

Corporate executives with family would rent these homes. Rent is usually covered by the company. These tenants often do not stay for more than a few years and have no intention of rooting. Their lifestyle would remain nomadic and collect only a few essential things.

 

[irvine_home_owner_IHB]

Well... you *may* not get students in the higher-end SFRs but it may be your only choice. I remember when we were first looking to rent in QH, one Tapestry home we were considering to rent went to a group of students before we could get it.

And many of the high-end rentals ended up only being a year because they are corp leases. The other thing is I'm not sure if renters are more or less careful with homes they do not own. For us, we were extra careful because we don't want to recover our full deposit, for others... it may not be a big deal for them.

I do know that when we first rented out our home... we got an even ratio of families and students but the last few times was mostly students. Maybe as people lose their homes, you'll see more families renting in that 1750sft SFR range.

EDIT: Ninjeed by bk!

 

[IrvineRealtor_IHB]

IHO,

I wonder if the situation would be different for home owners who rent out higher end homes like Villa Rosa or Mills Fluers? I did see several of them on IR2's Lease Sheet. I would imagine you get a much higher qualified tenants who would stay much longer term than just one year because of the junk they would accumulate over time. I would also imagine that it would take double the time to rent out than a 1750 square feet SFR. What do you think?

IR2, have you seen several instances where the tenants have purchased the homes directly from the landlord? Sort of like the situation where CK would buy his West Irvine SFR from the owner?

Corporate executives with family would rent these homes. Rent is usually covered by the company. These tenants often do not stay for more than a few years and have no intention of rooting. Their lifestyle would remain nomadic and collect only a few essential things.

- The "situation" depends on the tenant and runs across all levels of rentals. Money does not equal class.

- It does not take double the time to rent these out. With proper exposure, days on market is a function of accurate pricing, whether a property is for sale or for rent.

- I've seen it happen many times, but would consider CK's rent-then-own scenario the exception rather than the rule. Few people are patient enough, and it is worth pointing out that during our last bull run (from early '96 to late '06) the landlords were "winning" this hedge.

- Turnover is the bane of landlords and of employers. Many companies cover closing costs for employees who purchase their home. This is specifically to direct behavior and discourage the free-agent, "nomadic" style of worker.

By the way, thank you IHO... will hope to eventually pay you back in the real deuce-bonds (fescue or Kentucky blue?).

-IR2

 

[PANDA_IHB]

IHO,

I wonder if the situation would be different for home owners who rent out higher end homes like Villa Rosa or Mills Fluers? I did see several of them on IR2's Lease Sheet. I would imagine you get a much higher qualified tenants who would stay much longer term than just one year because of the junk they would accumulate over time. I would also imagine that it would take double the time to rent out than a 1750 square feet SFR. What do you think?

IR2, have you seen several instances where the tenants have purchased the homes directly from the landlord? Sort of like the situation where CK would buy his West Irvine SFR from the owner?

Corporate executives with family would rent these homes. Rent is usually covered by the company. These tenants often do not stay for more than a few years and have no intention of rooting. Their lifestyle would remain nomadic and collect only a few essential things.

- The "situation" depends on the tenant and runs across all levels of rentals. Money does not equal class.

- It does not take double the time to rent these out. With proper exposure, days on market is a function of accurate pricing, whether a property is for sale or for rent.

- I've seen it happen many times, but would consider CK's rent-then-own scenario the exception rather than the rule. Few people are patient enough, and it is worth pointing out that during our last bull run (from early '96 to late '06) the landlords were "winning" this hedge.

- Turnover is the bane of landlords and of employers. Many companies cover closing costs for employees who purchase their home. This is specifically to direct behavior and discourage the free-agent, "nomadic" style of worker.

By the way, thank you IHO... will hope to eventually pay you back in the real deuce-bonds (fescue or Kentucky blue?).

-IR2

IR2.. thanks for the insight. So i guess my assumption was not correct that these high end homes takes twice as long to rent than starter homes. How about the duration of how long the tenants stay on the lease for higher end homes. Have you noticed any correlation where the higher end tenants seem to stay longer than town homes, condos, and 1700 sqft SFR tenants? Is BK correct that most of these type of tenants are corporate transfers therefore stay only for one or two years?

Thanks. Panda

 

[bkshopr_IHB]

IHO,

I wonder if the situation would be different for home owners who rent out higher end homes like Villa Rosa or Mills Fluers? I did see several of them on IR2's Lease Sheet. I would imagine you get a much higher qualified tenants who would stay much longer term than just one year because of the junk they would accumulate over time. I would also imagine that it would take double the time to rent out than a 1750 square feet SFR. What do you think?

IR2, have you seen several instances where the tenants have purchased the homes directly from the landlord? Sort of like the situation where CK would buy his West Irvine SFR from the owner?

Corporate executives with family would rent these homes. Rent is usually covered by the company. These tenants often do not stay for more than a few years and have no intention of rooting. Their lifestyle would remain nomadic and collect only a few essential things.

- The "situation" depends on the tenant and runs across all levels of rentals. Money does not equal class.

- It does not take double the time to rent these out. With proper exposure, days on market is a function of accurate pricing, whether a property is for sale or for rent.

- I've seen it happen many times, but would consider CK's rent-then-own scenario the exception rather than the rule. Few people are patient enough, and it is worth pointing out that during our last bull run (from early '96 to late '06) the landlords were "winning" this hedge.

- Turnover is the bane of landlords and of employers. Many companies cover closing costs for employees who purchase their home. This is specifically to direct behavior and discourage the free-agent, "nomadic" style of worker.

By the way, thank you IHO... will hope to eventually pay you back in the real deuce-bonds (fescue or Kentucky blue?).

-IR2

No need because his home will have all concrete driveway across the entire front. You are so clever in offering him 10 sf. of lawn for his excellent Deuce product placement. Rather than grass you should offer him wood roll up garage doors with 3 vertical sectionals.

 

[IrvineRealtor_IHB]

IR2.. thanks for the insight. So i guess my assumption was not correct that these high end homes takes twice as long to rent than starter homes. How about the duration of how long the tenants stay on the lease for higher end homes. Have you noticed any correlation where the higher end tenants seem to stay longer than town homes, condos, and 1700 sqft SFR tenants? Is BK correct that most of these type of tenants are corporate transfers therefore stay only for one or two years?

Thanks. Panda

http://irvinerealtorsite.com/images/When-in-doubt-bk-is-right-.jpg

 

[PANDA_IHB]

Wow! That is a loaded question. The last time I posted something similar to this the interaction among the members was very active until Zovall ended that thread. The new thread then went off the tangent like the original thread did. I am often the culprit at this.

Chinese are really good neighbors. They do not cause problem in the neighborhood and throw loud beer parties. Most Chinese neighbors never stay outside for long because they all hated the sun. The ancient Chinese secret in looking young is to avoid the sun. Their kids are too busy studying and rarely creating noise outside and not even in their own backyard. I like the idea of phantom neighbors. The children provide free musical entertainment at about 8pm. I hope you all like classical.

They rarely cause trouble because most of them are passive personality type. The entire race believes in solving issues without confrontation. They will never tell you that they hate you in front of your face. They drive highly rated consumer report cars so there is no oil leak and stain that one sees on driveway in other neighborhoods.

Many do not like camping and boating so you would never see a RV or a boat monstrosity parked with tail protruding on to the sidewalk. They rarely start any conversation so neighbors are not obligated to engage in any meaningless talk about the nice weather. They will always smile and wave at you. Neighbors will never lose much time socializing at the front yard (what front yard?).

Families are always peaceful because they learn to stuff away their emotion. Not much quarrel there so no worry regarding a police car showing up at their home for domestic violence. They do not curse or use WTF languages.

They do not BBQ much because they think BBQ causes canker sore. So do not worry about odor from the backyard BBQ.

I like them as neighbors.

I think I can tolerate the followings:

They are not very handy so neighbors do not need to worry about them changing the exterior and ruining their house. Occasionally they like to paint and that worries me. They like to leave their shoes outside regardless so burglar thinks that someone is always home. They also like to hang mirror above their front door pointing them at your house. They advertise for Fletcher Jones and Longo. Once a while they like to cook with shrimp paste and that can stink up the neighborhood fast. They would hire the cheapest landscape contractor to design build their front and rear yard and pretty soon glass block pilasters and crazy stone pattern ruining the curb appeal of the neighborhood.

Chinese culture and lifestyle are different from American, Their idiosyncrasy and contribution is what made Irvine such a cultural and successful place. Without them Irvine will not have become the world class city. Our technology, education, commerce, and housing would not have advanced and mature at record pace and the other Donald with the pink tie would be the wealthiest.

Having Chinese in the neighborhood is a very good sign. Have you see a ghetto with many Chinese neighbors. Americans are open minded and liberal. The issue of race should not interfere with home prices, comp and potential resale of a property. Chinese seldom declare BK or foreclosure on a home. Their moral and ethical value is high and they do drill their youngster to become high achievers and not be a burden in our society.

Caucasians demographic and population did not grow as fast as the Asian population since the 80’s. Many Caucasians sat on rich equity and move up to the Coast and into the hills where homes are priced highly. Their offspring is living elsewhere raising family due to the high cost of housing in Irvine. Caucasian parents are not as willing in contributing huge house down payments for their kids. Some like Irvine-native returned to his root. We encounter mostly Asians at the flat lands. The retails and restaurants draw a lot of traffic. Quail and TR have the wealthier Asian crowd with some CEO’s in Shady.

C'mon.. IR2.. Though BK knows more about Irvine than most of us... surely he is not an "Irvine God" I stick to my theory that on average, higher end Irvine homes stay rented for a longer duration than starter homes.

I found a two year old BK post and found it to be hilarious, especially the comment he made that Irvine Asians don't like to BBQ. BK, I love to BBQ! and I am sure that CK's entire street of Asians love to BBQ too.

 

[bkshopr_IHB]

Wow! That is a loaded question. The last time I posted something similar to this the interaction among the members was very active until Zovall ended that thread. The new thread then went off the tangent like the original thread did. I am often the culprit at this.

Chinese are really good neighbors. They do not cause problem in the neighborhood and throw loud beer parties. Most Chinese neighbors never stay outside for long because they all hated the sun. The ancient Chinese secret in looking young is to avoid the sun. Their kids are too busy studying and rarely creating noise outside and not even in their own backyard. I like the idea of phantom neighbors. The children provide free musical entertainment at about 8pm. I hope you all like classical.

They rarely cause trouble because most of them are passive personality type. The entire race believes in solving issues without confrontation. They will never tell you that they hate you in front of your face. They drive highly rated consumer report cars so there is no oil leak and stain that one sees on driveway in other neighborhoods.

Many do not like camping and boating so you would never see a RV or a boat monstrosity parked with tail protruding on to the sidewalk. They rarely start any conversation so neighbors are not obligated to engage in any meaningless talk about the nice weather. They will always smile and wave at you. Neighbors will never lose much time socializing at the front yard (what front yard?).

Families are always peaceful because they learn to stuff away their emotion. Not much quarrel there so no worry regarding a police car showing up at their home for domestic violence. They do not curse or use WTF languages.

They do not BBQ much because they think BBQ causes canker sore. So do not worry about odor from the backyard BBQ.

I like them as neighbors.

I think I can tolerate the followings:

They are not very handy so neighbors do not need to worry about them changing the exterior and ruining their house. Occasionally they like to paint and that worries me. They like to leave their shoes outside regardless so burglar thinks that someone is always home. They also like to hang mirror above their front door pointing them at your house. They advertise for Fletcher Jones and Longo. Once a while they like to cook with shrimp paste and that can stink up the neighborhood fast. They would hire the cheapest landscape contractor to design build their front and rear yard and pretty soon glass block pilasters and crazy stone pattern ruining the curb appeal of the neighborhood.

Chinese culture and lifestyle are different from American, Their idiosyncrasy and contribution is what made Irvine such a cultural and successful place. Without them Irvine will not have become the world class city. Our technology, education, commerce, and housing would not have advanced and mature at record pace and the other Donald with the pink tie would be the wealthiest.

Having Chinese in the neighborhood is a very good sign. Have you see a ghetto with many Chinese neighbors. Americans are open minded and liberal. The issue of race should not interfere with home prices, comp and potential resale of a property. Chinese seldom declare BK or foreclosure on a home. Their moral and ethical value is high and they do drill their youngster to become high achievers and not be a burden in our society.

Caucasians demographic and population did not grow as fast as the Asian population since the 80’s. Many Caucasians sat on rich equity and move up to the Coast and into the hills where homes are priced highly. Their offspring is living elsewhere raising family due to the high cost of housing in Irvine. Caucasian parents are not as willing in contributing huge house down payments for their kids. Some like Irvine-native returned to his root. We encounter mostly Asians at the flat lands. The retails and restaurants draw a lot of traffic. Quail and TR have the wealthier Asian crowd with some CEO’s in Shady.

C'mon.. IR2.. Though BK knows more about Irvine than most of us... surely he is not an "Irvine God" I stick to my theory that on average, higher end Irvine homes stay rented for a longer duration than starter homes.

I found a two year old BK post and found it to be hilarious, especially the comment he made that Irvine Asians don't like to BBQ. BK, I love to BBQ! and I am sure that CK's entire street of Asians love to BBQ too.

Sorry Panda, Correction I meant Chinese. Where and how did you find that posts? I have been looking for it for a while.

Did you print it out and use it as your Bible bookmark?

 

[kcmkane_IHB]

They do not BBQ much because they think BBQ causes canker sore.

All of my Chinese in-laws came over this weekend, and we had Korean BBQ. Everyone loved it, and as far as I could tell nobody went home with a canker sore. Several of them did leave a bit lighter in the wallet, however, as CK was on a bit of a hot streak once the card came out later in the evening.

 

[irvine_home_owner_IHB]

They do not BBQ much because they think BBQ causes canker sore.

All of my Chinese in-laws came over this weekend, and we had Korean BBQ. Everyone loved it, and as far as I could tell nobody went home with a canker sore. Several of them did leave a bit lighter in the wallet, however, as CK was on a bit of a hot streak once the card came out later in the evening.

I think the difference is they like to *eat* BBQ... just not the actually action of doing it... because standing next to a hot fire with smoke going into every pore of your body will surely give you a canker sore somewhere... hehe.

BTW: There is truth in some of those bk-isms.

 

[PANDA_IHB]

BK, i think i read some where on that thread that you think that the ABC ("American Born Chinese") will mostly likely buy in Laguna Crossing, whereas the 1.5 Gen Chinese will buy in Orchard Hills. What is your reasoning behind that. Would you say that the ABC Chinese overall are less successful than the 1.5 Gen Chinese? Sorry for bringing back the dead, but some of the older posts are really juicy and interesting.

 

[bkshopr_IHB]

BK, i think i read some where on that thread that you think that the ABC ("American Born Chinese") will mostly likely buy in Laguna Crossing, whereas the 1.5 Gen Chinese will buy in Orchard Hills. What is your reasoning behind that. Would you say that the ABC Chinese overall are less successful than the 1.5 Gen Chinese? Sorry for bringing back the dead, but some of the older posts are really juicy and interesting.

Please provide links so others can read it. Is that the BK 3:16 post?

Tell me why I should give out my trade secrets so TIC can benefit from my knowledge about product positionings in the two different communities that would best attract the Chinese buyers. This site has been a thorn and it is still here because you keep asking these questions that TIC is interested in reading.

 

[bkshopr_IHB]

They do not BBQ much because they think BBQ causes canker sore.

All of my Chinese in-laws came over this weekend, and we had Korean BBQ. Everyone loved it, and as far as I could tell nobody went home with a canker sore. Several of them did leave a bit lighter in the wallet, however, as CK was on a bit of a hot streak once the card came out later in the evening.

I agree with IHO because you were making it. When you go visit them in SGV I bet they just take you out to a restaurant instead of BBQ in the backyard.

 

[PANDA_IHB]

Sorry all. I got sidetracked by Chapman University. Those of you planning to send your kids to a small liberal art college please consider the Claremont Colleges: Scripps, Pomona College, Pitzer, Harvey Mudd, and Claremont McKenna. They teach students to contribute to society.

We all love Irvine because it is a place with the least housing depreciation. Everywhere else builders are bailing out quick by slashing selling price. San Diego and the Inland Empire are 2 very good examples. The aftermath is devastating for recovery. Those who bought there are walking away at greater pace than Irvine. At these locations there is no one there to control the pricings. It was left to the individual builders to make the call.

In Irvine it is completely different. TIC controls the price of every new home. Homeowners price their resale relatively to new prices set by TIC. The fact that resale WTF prices are everywhere is TIC has not introduced new products to dictate the final words. We are all waiting for this opportunity to make a purchase of this “bargain” new house. TIC is an incredibly sophisticated company working with top economists and researchers to protect its asset. At the same time all existing Irvine homeowners benefit from TIC’s stubbornness to give in to what the housing bears want.

Once the bears made a purchase of a home then they pray that TIC would never lower price again so their RE asset will continue to escalate upward. This is the assurance why so many financially unsophisticated individual bought in Irvine. Those who are not savvy with finance like myself would love to own property in Irvine because there is an Irvine Company out there looking out for its asset and (ours) hard earned purchase.

We all can say “forget the Irvine Ranch” and go somewhere else like Ladera and VoC. for some bargains. We all know at the end of the day TIC villages are superior designs and branded well. We then ask ourselves “Why are we so addicted to Irvine Ranch?” It is because we like Bren’s vision: to be able to experience learn, live, work, play and shop all within the Irvine Ranch. He donated tons of money to improve the university, Irvine and some Tustin schools way before you and I noticed the Ranch. Top financial, golf, and residential packages are offered to top renowned researchers to UCI.

We love TIC villages because of the theme landscape approach and buffers, the sense of arrival, the distinction between, private neighborhoods and public play spaces. These nice things required set aside land to create. The cost of the land and construction for the public amenities and landscape zones are all factored in to the 4-1/2 million land equation and ultimately evenly distributed among the for sale homes. The open recreational space in a TIC village is 40% while at VoC is 26%.

Who can afford all these nice developments? NIR speculate the Chinese would be the majority of the home shoppers. To some extent I think it is valid. Judging by history will repeat itself I draw my conclusion from the last recession. Over 60% of new sale transactions were Asian home shoppers and Chinese was the majority. The products were density and efficiency driven products. This time around 15 years later the ABC (American born Chinese) shoppers are completely different from the earlier 1.5 generation. They are the Americanized off springs with very different view in education, social circle, and finance. I believe the 1.5 generation (parents of ABC) along with ABC’s grand parents will chip in a big chunk of cash down payment so ABC will only be borrowing $417k. They believe in paying less interest and the cash bargaining power will yield a better deal.

The homes that they will be looking will most likely be a relatively new home in a resale market where they will have a bigger bargaining power than buying a brand new home. The only drawback that I see is the perception. A good house with good feng shui should not end up a resale. The detached condo is probably my biggest prediction because it is relatively maintenance free. ABC Chinese are not handyman like American. Kids learned power tool and shop skills from their “Tim Allen” dad in the garage. Chinese is very afraid of danger and would not expose their kids to these (blue collar) skills being afraid that they may like them too much and choose them as profession.

ABC generation does not fall into $300k income bracket. They are not the entrepreneurs of new products and companies. It is the 1.5 generation who is making the 300k. The 1.5 generation was during the infancy of computer and software technology. They are the one who started companies and made a lot of income. ABC may have attended a very nice college but their opportunities are very limited due to the maturity of the technology market. ABC will still have parents and grandparents down payment support but don’t count on it being a high end expensive home unless the expensive home is for the multi-generational living. ABC would rather have a tiny cottage than living with their parents.

Highest end homes would strike big with the 1.5 generation. They are the baby boomers at the peak of their success. Retirement is less than a decade around the corner. Their parents who sacrificed so much are still alive deserve to have the very best near the end of their lifelong journey. The 1.5 generation will live and take care of their parent until their death. This high end home purchase will be the testimony to honor the grand parents who gave up everything for the future generations. The proximity must be close to the ABC cottage because ABC’s do not how to boil those wonderful soup made from secret recipe. ABCs have to join their parents for Chinese homemade meals from time to time.

My prediction will be all density efficiency products and higher end products appealing the Chinese and other Asian buyers. During the hot market they represented 38% of all home shoppers at this time the number will be close to 55%.

For NIR start learning some Chinese custom and culture because it will put you ahead of your peers. It certainly helped me.

Cash down payment is the key right now. The lenders are not taking any risks more than $417k. This places the Chinese ahead of the pack due to cash power. TIC got to be very aware of its buyer demographic and secretly planning its product array for the Chinese shoppers.

The grading activities could not stop even though construction of homes is postponed to 2009-2010. The erosion and rainy season with potential mud over flow and its danger and interference with altering drainage pattern must be completed to provide public safety. So the activities you all see out there do not mean home will be constructed soon.

Bridge housing the affordable homes imposed by the City of Irvine TIC is extremely clever knowing that low income housing will affect its branding of villages near by and the aesthetic of low income housing is done poorly. IAC is currently responsible for managing the design and execution of these low income housings so TIC can control and minimize its negative impact to Irvine. This is a very smart move for TIC.

BK... i can't seem to find the LC and OH post i read last night. I will post if i can find it again. What posted back then is very interesting though.

 

[usctrojanman29_IHB]

BK, i think i read some where on that thread that you think that the ABC ("American Born Chinese") will mostly likely buy in Laguna Crossing, whereas the 1.5 Gen Chinese will buy in Orchard Hills. What is your reasoning behind that. Would you say that the ABC Chinese overall are less successful than the 1.5 Gen Chinese? Sorry for bringing back the dead, but some of the older posts are really juicy and interesting.

Please provide links so others can read it. Is that the BK 3:16 post?

Tell me why I should give out my trade secrets so TIC can benefit from my knowledge about product positionings in the two different communities that would best attract the Chinese buyers. This site has been a thorn and it is still here because you keep asking these questions that TIC is interested in reading.

Come on, it's easy....2,000sf+ with 4-5 bedrooms and 1 bedroom downstairs plus a full bath with an open floor plan consisting of a decently sized living room and family room and you can price $350/sf+ even with a tiny lot (of course throw a few 3 car garage units for all the IHOs out there). Those properties will sell like hotcakes.

 

[bkshopr_IHB]

BK, i think i read some where on that thread that you think that the ABC ("American Born Chinese") will mostly likely buy in Laguna Crossing, whereas the 1.5 Gen Chinese will buy in Orchard Hills. What is your reasoning behind that. Would you say that the ABC Chinese overall are less successful than the 1.5 Gen Chinese? Sorry for bringing back the dead, but some of the older posts are really juicy and interesting.

Please provide links so others can read it. Is that the BK 3:16 post?

Tell me why I should give out my trade secrets so TIC can benefit from my knowledge about product positionings in the two different communities that would best attract the Chinese buyers. This site has been a thorn and it is still here because you keep asking these questions that TIC is interested in reading.

Come on, it's easy....2,000sf+ with 4-5 bedrooms and 1 bedroom downstairs plus a full bath with an open floor plan consisting of a decently sized living room and family room and you can price $350/sf+ even with a tiny lot (of course throw a few 3 car garage units for all the IHOs out there). Those properties will sell like hotcakes.

At 14 units/ac ? The secret is how to supersize the chips without taking more shelf space. A lot of buyers do not like 3 story chip bag.

 

[usctrojanman29_IHB]

BK, i think i read some where on that thread that you think that the ABC ("American Born Chinese") will mostly likely buy in Laguna Crossing, whereas the 1.5 Gen Chinese will buy in Orchard Hills. What is your reasoning behind that. Would you say that the ABC Chinese overall are less successful than the 1.5 Gen Chinese? Sorry for bringing back the dead, but some of the older posts are really juicy and interesting.

Please provide links so others can read it. Is that the BK 3:16 post?

Tell me why I should give out my trade secrets so TIC can benefit from my knowledge about product positionings in the two different communities that would best attract the Chinese buyers. This site has been a thorn and it is still here because you keep asking these questions that TIC is interested in reading.

Come on, it's easy....2,000sf+ with 4-5 bedrooms and 1 bedroom downstairs plus a full bath with an open floor plan consisting of a decently sized living room and family room and you can price $350/sf+ even with a tiny lot (of course throw a few 3 car garage units for all the IHOs out there). Those properties will sell like hotcakes.

At 14 units/ac ?

Sure, that's what 3,000sf lots are all about (think about the Camelia floor plans over in Northwood II). If TIC wants premium pricing, they better give what most buyers want (a majority of buyers will give up the yard for the good floor plan...I mean, people do spend most of the time indoors when they are home...heck, they can use the clubhouse for entertaining).

 

[bkshopr_IHB]

..

 

[bkshopr_IHB]

BK, i think i read some where on that thread that you think that the ABC ("American Born Chinese") will mostly likely buy in Laguna Crossing, whereas the 1.5 Gen Chinese will buy in Orchard Hills. What is your reasoning behind that. Would you say that the ABC Chinese overall are less successful than the 1.5 Gen Chinese? Sorry for bringing back the dead, but some of the older posts are really juicy and interesting.

Please provide links so others can read it. Is that the BK 3:16 post?

Tell me why I should give out my trade secrets so TIC can benefit from my knowledge about product positionings in the two different communities that would best attract the Chinese buyers. This site has been a thorn and it is still here because you keep asking these questions that TIC is interested in reading.

Come on, it's easy....2,000sf+ with 4-5 bedrooms and 1 bedroom downstairs plus a full bath with an open floor plan consisting of a decently sized living room and family room and you can price $350/sf+ even with a tiny lot (of course throw a few 3 car garage units for all the IHOs out there). Those properties will sell like hotcakes.

At 14 units/ac ?

Sure, that's what 3,000sf lots are all about (think about the Camelia floor plans over in Northwood II). If TIC wants premium pricing, they better give what most buyers want (a majority of buyers will give up the yard for the good floor plan...I mean, people do spend most of the time indoors when they are home...heck, they can use the clubhouse for entertaining).

Totally agree. I especially like the Camellia plans. The pricing was the evil of Northwood II's problems.