bearvine_IHB
New member
Anyone out there have the inside scoop on what the Irvine Co. plans to develop in the next couple of years?
Seems like a lot of grading near:
<ol>
South of the 133, west of the 405, south of Quail Hill
East of the 261 toll road, and for that matter a lot of grading all around the toll roads
</ol>
The grading and equipment looks current, unlike the empty graded lots all over the IE and SD.
On a tangent: the bulls say OC is different, but the crash on new construction in IE and SD has been happening. For example, in Temecula, in the nice areas, 1 yr ago looking at 700, now 500 for same house. Better yet, a new community in Escondido near the Wild Animal Park, last year looking at $1.2m or so for new, upgraded 4000sq ft w casita, builder just offered us one at 700k. The graded lots in Carlsbad near Bressi Ranch (big crash- lots of info on SD blogs) will sit open for years.
One thing is for sure, when someone says "supply and demand- shortage of land and homes in OC" That is some bull____. Even with pricings dropping, there is still plenty of money to be made for land owners, developers, and builders. It's just back to reality with no easy money.
Had a desperate RE agent today telling me to "BUY NOW, we are at the floor...maybe only 5-6% left in decrease.." Stated some facts in retort, and he changed tune to "ok 8-10%" then threw some more facts out and he had nothing else to say...
Seems like a lot of grading near:
<ol>
South of the 133, west of the 405, south of Quail Hill
East of the 261 toll road, and for that matter a lot of grading all around the toll roads
</ol>
The grading and equipment looks current, unlike the empty graded lots all over the IE and SD.
On a tangent: the bulls say OC is different, but the crash on new construction in IE and SD has been happening. For example, in Temecula, in the nice areas, 1 yr ago looking at 700, now 500 for same house. Better yet, a new community in Escondido near the Wild Animal Park, last year looking at $1.2m or so for new, upgraded 4000sq ft w casita, builder just offered us one at 700k. The graded lots in Carlsbad near Bressi Ranch (big crash- lots of info on SD blogs) will sit open for years.
One thing is for sure, when someone says "supply and demand- shortage of land and homes in OC" That is some bull____. Even with pricings dropping, there is still plenty of money to be made for land owners, developers, and builders. It's just back to reality with no easy money.
Had a desperate RE agent today telling me to "BUY NOW, we are at the floor...maybe only 5-6% left in decrease.." Stated some facts in retort, and he changed tune to "ok 8-10%" then threw some more facts out and he had nothing else to say...