Hidden Canyon in Irvine

[snowball]

Personally, I don't like the view with big power lines from QH.

quote author=irvinehomeowner link=topic=1691.msg294387#msg294387 date=1469023660]
I think it's people cashing in.

It's been over 10 years for some of these owners and they sold for the upper mid to upper $1ms then so if you sell for $2m to $3m, that's a good profit.

I like 512 Luminous.

27 Momento with one side open space is also a good location.

Since these already have landscaping, flooring, etc, these are better buys than HC. You won't get those kind of views down by the "coastal canyon".
[/quote]

 

[irvinehomeowner]

Personally, I don't like the view with big power lines from QH.

That's on the east side of QH.

You don't really look at that view from Vicarra (which is the city view).

And those power lines are in view of HC too.

 

[nyc to oc]

Has anyone noticed the influx of Vicara homes hitting the market in Quail Hill recently? These homes used to be hard to come by. Only ten of them have been on the market/sold in the past three years. Eight of these houses are currently on the market. Do you think these are Hidden Canyon transplants? Or people looking to make a buck after seeing that they can sell with prices similar to HC?

Regarding the attachment: The houses marked green are currently on the market for sale, and the houses marked blue are the ones that have been sold in the past three years.

I know one of these Vicara owners who has recently sold/selling.  Its cashing in time...let's just put it that way. Going to rent after they sell...

Its a rush for the exits. I hate to say it, since I just bought a house myself, but I think we're at the crest of the peak, "hanging" in the air before the roller coaster begins its downward descent (at least for the $1.5M+ market.  Oh well, I'm planning to stay put for the next 20 years, so that's how I try to make it less painful for myself...

 

[Ready2Downsize]

I think I've posted in the past. EVERY TIME I have bought a house either the economy takes a dive or the housing market peaks.

This time is weird with higher priced homes sitting for a long time while lower end new homes sell like hotcakes.

I think Irvine Company marketing in china has skewed the market with a large buyer pool from China which seems to favor the lower priced market.

Time will tell. I found a house I like, got to keep my tax basis, albeit stuck with higher mello that will keep rising and of course not Irvine.

Up, down, sideways, I'm ok with it but I know if I wanted to move and couldn't sell my high priced home I would be kicking myself for not cashing in when I saw the market was softening a year ago for the higher end.

 

[IrvineBS]

Has anyone noticed the influx of Vicara homes hitting the market in Quail Hill recently? These homes used to be hard to come by. Only ten of them have been on the market/sold in the past three years. Eight of these houses are currently on the market. Do you think these are Hidden Canyon transplants? Or people looking to make a buck after seeing that they can sell with prices similar to HC?

Regarding the attachment: The houses marked green are currently on the market for sale, and the houses marked blue are the ones that have been sold in the past three years.

I know one of these Vicara owners who has recently sold/selling.  Its cashing in time...let's just put it that way. Going to rent after they sell...

Its a rush for the exits. I hate to say it, since I just bought a house myself, but I think we're at the crest of the peak, "hanging" in the air before the roller coaster begins its downward descent (at least for the $1.5M+ market.  Oh well, I'm planning to stay put for the next 20 years, so that's how I try to make it less painful for myself...

so they are going to pay the gains taxes over 500k? (Assuming they are married)

Its a pretty big roll of the dice to try and predict where housing, even at that level, is going to go, will do, in the next few years.

I just moved from the bay area and homes here look cheap, comparatively.

 

[RHOC]

I think it's people cashing in.

It's been over 10 years for some of these owners and they sold for the upper mid to upper $1ms then so if you sell for $2m to $3m, that's a good profit.

I like 512 Luminous.

27 Momento with one side open space is also a good location.

Since these already have landscaping, flooring, etc, these are better buys than HC. You won't get those kind of views down by the "coastal canyon".

The views might be slightly better in certain areas of QH but they are also 10 years old and dated in design. We have a friend that just listed their home (original owner) in QH and the only reason they are selling is to buy in HC. As mentioned before, the peak is certainly passing and the only buyers are millennials which can't afford the over million 1/2 homes. HC and some other higher end new constructions are getting more desperate and giving lots of incentives!  ;D

 

[WTTCHMN]

I think it's people cashing in.

It's been over 10 years for some of these owners and they sold for the upper mid to upper $1ms then so if you sell for $2m to $3m, that's a good profit.

I like 512 Luminous.

27 Momento with one side open space is also a good location.

Since these already have landscaping, flooring, etc, these are better buys than HC. You won't get those kind of views down by the "coastal canyon".

The views might be slightly better in certain areas of QH but they are also 10 years old and dated in design. We have a friend that just listed their home (original owner) in QH and the only reason they are selling is to buy in HC. As mentioned before, the peak is certainly passing and the only buyers are millennials which can't afford the over million 1/2 homes. HC and some other higher end new constructions are getting more desperate and giving lots of incentives!  ;D

The views aren't just slightly better, but dramatically better.  There's really no comparison.

 

[fortune11]

Couple of comments --

1.  While real estate market is stalling , it doesn't automatically mean a crash is imminent.  a crash requires a mass exit , which is precipitated by owners or investors who cannot sustain their debt burdens.  I don't think this is the case now .  Similarly, a lot of people have been calling for gloom and doom in the stock market every time we see a selloff (anyone remember august last year or feb this year , or even a month ago right after brexit vote) but the fact is the excesses that caused the last crash simply aren't there this time in the same magnitude . 

2.  quail hill / TR  -- having toured these homes, i have honestly tried to visualize how living in these chopped up floor plans would feel like as a family and it just doesn't cut it .  how many walls will you break down ?  how many pocket doors will you install ?  a view is nice to have but how much time do people spend looking at the view , if the lot is smaller to begin with.  All I am saying is that era of early to mid 2000s construction represents some of the worst and most dated floor plans imaginable, especially compared to the construction that took place in the mid to late 90s . 

After a certain point , a neighborhood has to lend itself to tear downs so the next generation of homes can be built  - drive through parts of west LA and you will know what i am saying .  At current (high) price points these older QH homes are certainly not tear down value , and certainly not turnkey livable , especially given many people's preferences now . 

 

[IrvineBS]

Couple of comments --

After a certain point , a neighborhood has to lend itself to tear downs so the next generation of homes can be built  - drive through parts of west LA and you will know what i am saying .  At current (high) price points these older QH homes are certainly not tear down value , and certainly not turnkey livable , especially given many people's preferences now .

well put. couldn't agree more.

 

[irvinehomeowner]

2.  quail hill / TR  -- having toured these homes, i have honestly tried to visualize how living in these chopped up floor plans would feel like as a family and it just doesn't cut it .  how many walls will you break down ?  how many pocket doors will you install ?  a view is nice to have but how much time do people spend looking at the view , if the lot is smaller to begin with.  All I am saying is that era of early to mid 2000s construction represents some of the worst and most dated floor plans imaginable, especially compared to the construction that took place in the mid to late 90s . 

Not everyone loves a oversized gigantic single great room as the only space downstairs.

Not sure what you mean by "chopped up", if you look at any of the Vicarra floorplans, there is a large great room (kitchen/dining/family area), a separate dining area (which is a bonus and also in HC plans), another living room/den (where you can put a piano, man cave, whatever) and a downstairs bedroom (highly wanted). The upstairs consists of multiple bedrooms (with their own bathrooms which many prefer), a retreat/loft and a master with a large bathroom and dual closets.

As I posted before, this is floorplan is good enough for me:

After a certain point , a neighborhood has to lend itself to tear downs so the next generation of homes can be built  - drive through parts of west LA and you will know what i am saying .

That's not always true, especially in areas with newer homes and HOAs that preserve the neighborhood look. Does that mean Hidden Canyon will eventually become a tear down area?

At current (high) price points these older QH homes are certainly not tear down value , and certainly not turnkey livable , especially given many people's preferences now . 

Really? QH is just over 10 years old... there are hoods in Irvine over 30 years old at lower price points that are not "tear downs".

This is Irvine, not LA.

 

[snowball]

It sounds like you are the homeowner of QH or a realtor who works actively in QH area. Great advocate!!!

2.  quail hill / TR  -- having toured these homes, i have honestly tried to visualize how living in these chopped up floor plans would feel like as a family and it just doesn't cut it .  how many walls will you break down ?  how many pocket doors will you install ?  a view is nice to have but how much time do people spend looking at the view , if the lot is smaller to begin with.  All I am saying is that era of early to mid 2000s construction represents some of the worst and most dated floor plans imaginable, especially compared to the construction that took place in the mid to late 90s . 

Not everyone loves a oversized gigantic single great room as the only space downstairs.

Not sure what you mean by "chopped up", if you look at any of the Vicarra floorplans, there is a large great room (kitchen/dining/family area), a separate dining area (which is a bonus and also in HC plans), another living room/den (where you can put a piano, man cave, whatever) and a downstairs bedroom (highly wanted). The upstairs consists of multiple bedrooms (with their own bathrooms which many prefer), a retreat/loft and a master with a large bathroom and dual closets.

As I posted before, this is floorplan is good enough for me:

After a certain point , a neighborhood has to lend itself to tear downs so the next generation of homes can be built  - drive through parts of west LA and you will know what i am saying .

That's not always true, especially in areas with newer homes and HOAs that preserve the neighborhood look. Does that mean Hidden Canyon will eventually become a tear down area?

At current (high) price points these older QH homes are certainly not tear down value , and certainly not turnkey livable , especially given many people's preferences now . 

Really? QH is just over 10 years old... there are hoods in Irvine over 30 years old at lower price points that are not "tear downs".

This is Irvine, not LA.

 

[irvinehomeowner]

It sounds like you are the homeowner of QH or a realtor who works actively in QH area. Great advocate!!!

Heh... everyone here knows I'm not a realtor... but they also know I'm a QH fan.

At least I back up my opinion with actual floorplans, everyone else just uses "dated" and "chopped up" and I'm not sure if they've even visited these homes.

And if I were an actual realtor, I wouldn't be playing favorites to limit my buyer pool, I would push Laguna Altura, Hidden Canyon, Turtle Ridge etc just as much as Quail Hill.

 

[OC-Broker]

My friend just locked into escrow and her family was able to get 95k worth of upgrades! So I know they are very desperate. The bubble is about to burst people

I think there is probably some room on the homes on less desirable lots . . . but I don't know if I would call the builder desperate.  By my count, TB has sold somewhere around $500M in this project alone over the last year and a half.  Even if they took another two years to sell out the project, I don't think they would be sweating it.

My guess is that HC will sell out over the next 1.5 years and prices will pretty much stay flat.

 

[fortune11]

Floor plans aren't a substitute for actual walk through as the look and feel is quite different .  ceiling height , doorway shape (arches versus square) can make a big difference too. 

"Not everyone loves a oversized gigantic single great room as the only space downstairs  "  --- maybe , but builders build whatever is current / trendy and liked by a majority of buyers - and new home company in orchard hills and toll in HC are a good representation of today's buyer taste. 

I myself like 2 door sports sedans , doesn't change the fact that automakers are focusing on crossovers which is what a vast plurality of buyers want. 

But I can sympathize with the viewpoint as I have owned multiple homes , some dating from 70s and some 90s  and they all age differently as tastes change.  The point I am making is that those  mid 2000s floor plans  in TR (and parts of QH) have aged much faster for today's lifestyles .  The saving grace being beautiful views from backyards, and those who prioritize that over everything else will find this aspect attractive . 

Also there is nothing a price reduction can't fix -- at some point these homes will sell but price discovery will be a long drawn out process. 

With new homes , price discovery happens fast and incentives (that someone mentioned here) or not , prices for new homes where sales have been progressing at a decent pace , all fall within a certain defined band which can be reassuring to home buyers . 

OC-Broker mentioned that toll has sold 500mm of inventory in HC - that is serious turnover in $ terms and proves the price point .  Whereas depending on the home, there will be a wide variation in selling prices for different TR and QH homes - and buyers will be relying in some cases on luck and seller desperation (or patience as the case maybe). 

But this also means that with new homes, you are not getting a " great deal " over everyone else , whereas if QH / TR homes suit your taste , there is no telling what you may be able to finagle in terms of discount from list price . That attraction of potentially getting a " great deal " given the current slowdown in high end homes is the dilemma right now between buying a new home and bidding on an MLS listing .

 

[irvinehomeowner]

Okay, so who here that has bought in Hidden Canyon is a Chinese national? Or even better, cannot buy here anymore because you can't access your cash.

RHOC wants to know!

 

[Funkie]

Latest Marbella pricing.

Very desirable lots in this release, $1M and up lot premium for end of cut-de-sac view lots.

 

[eatthis]

Latest Capri price sheet.

Still a couple of quick delivery homes left. They're really struggling with those with on small lots. Some are well less than 6000 sqft lot with the house behind it looking down on them. The homes on the other side of Irongate is doing much better. They have views and many have much bigger lots.

 

[RHOC]

Okay, so who here that has bought in Hidden Canyon is a Chinese national? Or even better, cannot buy here anymore because you can't access your cash.

RHOC wants to know!

LOL! Nice try my friend ;D we all know the "FCB" really don't come on this site, nor would they reply to you! I was told by the agents personally last year that most of their buyers were all cash offers and we all know that is not a typical American (me being one). I have no problem getting jumbo loans, however, as non residence and non employed in this country and no credit they can't and most pay CASH my dear!!! I think your starting to warm up to me!!

 

[AlexG]

$4 million + in Hidden Canyon. Shady Canyon is starting To look a lot more attractive!!

 

[usctrojancpa]

Latest Marbella pricing.

Very desirable lots in this release, $1M and up lot premium for end of cut-de-sac view lots.

Wow, $800/sf for that view lot home?  I'll take Newport Coast any day of the week for that kind of price.