Ladera Ranch

[quote author="25inIrvine" date=1248925514]



12 Roshelle is scheduled for tomorrow but will probably get delayed again</blockquote>


Just keep kicking the can down the street...
 
[quote author="xoneinax" date=1248920187]Apr 17, 2009 was when it went bank to the lender, but what was the Nov 18, 2008 transaction ? I cannot imagine any person paid 1.6 for this just 8 months ago ? Did it got go back to the builder and then back to a lender ?



Jul 28, 2009 Listed $869,900 -- SoCalMLS #S583531

Apr 17, 2009 Sold $1,360,949 -32.6%/yr Public Records

Nov 18, 2008 Sold $1,600,000 -1.8%/yr Public Records

Feb 02, 2008 Delisted * -- Inactive SoCalMLS #1

Oct 11, 2007 Listed * -- Inactive SoCalMLS #1

Sep 11, 2006 Sold $1,666,500 -- Public Records</blockquote>


Newbie question. Anybody have a theory as to whether the Nov 18th Sell was a normal buyer ?
 
Well, I am moving out of Irvine and looking in the Ladera Ranch area. Hou much should I expect to pay for a 2800-3000sq. ft. 4-5 bedroom home there (not in the gated areas). I know very little about Ladera other than it is a very kid friendly community which I want (two kids), the schools are good and the homes are newer than areas like Laguna Niguel.



The reason I am asking is because it seems like there is a pretty good size range of what homes are going for in that range.



Also, where do you guys see Ladera prices moving in the next month or two into the fall? It seems as if asking prices are going up a little but looking at all the FC and short sales there makes it seem as if it could easily tip the other way again.



Finally, where do you see Ladera (as a community) in 5-10 years from now price wise and desirability?



Can people who have good knowledge about Ladera let me know because I am a bit confused about that area.



Thanks in advance!
 
I am by no means an expert in Ladera, but I believe Covenant Hills is the nicer part of Ladera and farther away from the power lines. Right now Ladera is a short sell heaven(or hell). I think you should expect to pay 700-900K for a home in your price range...maybe less depending on if it's distressed. You definitely get more home for your money in Ladera, however it is a bit isolated.
 
[quote author="davenlei" date=1249953137]Well, I am moving out of Irvine and looking in the Ladera Ranch area. Hou much should I expect to pay for a 2800-3000sq. ft. 4-5 bedroom home there (not in the gated areas). I know very little about Ladera other than it is a very kid friendly community which I want (two kids), the schools are good and the homes are newer than areas like Laguna Niguel.



The reason I am asking is because it seems like there is a pretty good size range of what homes are going for in that range.



Also, where do you guys see Ladera prices moving in the next month or two into the fall? It seems as if asking prices are going up a little but looking at all the FC and short sales there makes it seem as if it could easily tip the other way again.



Finally, where do you see Ladera (as a community) in 5-10 years from now price wise and desirability?



Can people who have good knowledge about Ladera let me know because I am a bit confused about that area.



Thanks in advance!</blockquote>


I would say about $700K sounds right for what you are talking about. Maybe $800K as you get to the higher end of your size range.



I live in Ladera and I am very happy with it. It is definitely a place for families with kids. A very kid friendly environment.



One important thing to note, Ladera is split between 2 high schools - Tesoro and the new San Juan Hills. Some people are pretty adamantly opposed to sending their kids to the new SJH school. If that matters to you, you should note that generally the southern half of Ladera (including Covenant Hills) goes to SJH and the northern half goes to Tesoro. The dividing line as I understand it is Roanoke Drive. There are some great neighborhoods north of Crown Valley and just south of Crown Valley that go to Tesoro. My favorite area is the neighborhoods surrounding Flintridge Ave, which do go to Tesoro. Amberly Lane by Taylor Woodrow is the best in my opinion, but might be a little above that $700K to $800K price range.



My kids are not even pre-school age, but when they get older, if we are still in the area, I would likely move to the northern half of Ladera.
 
[quote author="xoneinax" date=1249353435][quote author="xoneinax" date=1248920187]Apr 17, 2009 was when it went bank to the lender, but what was the Nov 18, 2008 transaction ? I cannot imagine any person paid 1.6 for this just 8 months ago ? Did it got go back to the builder and then back to a lender ?



Jul 28, 2009 Listed $869,900 -- SoCalMLS #S583531

Apr 17, 2009 Sold $1,360,949 -32.6%/yr Public Records

Nov 18, 2008 Sold $1,600,000 -1.8%/yr Public Records

Feb 02, 2008 Delisted * -- Inactive SoCalMLS #1

Oct 11, 2007 Listed * -- Inactive SoCalMLS #1

Sep 11, 2006 Sold $1,666,500 -- Public Records</blockquote>


Newbie question. Anybody have a theory as to whether the Nov 18th Sell was a normal buyer ?</blockquote>


I'm going to take a total guess that's probably wrong. I'm guessing it was a related-party transaction (husband to wife, parents to kids, something like that), possibly as some sort of attempt to delay foreclosure.
 
[quote author="davenlei" date=1249953137]Well, I am moving out of Irvine and looking in the Ladera Ranch area. Hou much should I expect to pay for a 2800-3000sq. ft. 4-5 bedroom home there (not in the gated areas). I know very little about Ladera other than it is a very kid friendly community which I want (two kids), the schools are good and the homes are newer than areas like Laguna Niguel.



The reason I am asking is because it seems like there is a pretty good size range of what homes are going for in that range.



Also, where do you guys see Ladera prices moving in the next month or two into the fall? It seems as if asking prices are going up a little but looking at all the FC and short sales there makes it seem as if it could easily tip the other way again.



Finally, where do you see Ladera (as a community) in 5-10 years from now price wise and desirability?



Can people who have good knowledge about Ladera let me know because I am a bit confused about that area.



Thanks in advance!</blockquote>


Agree with most other people. Right now, I would expect to pay $700-$750k for what you're looking for. By next spring, I could see the same properties going to $650,000 to $725,000, but could be wrong. Ladera, as a community, is great and does have a lot of potential upside in the next 5-10 years. It's a new development with primiarily young residents and a great infrastructure; numerous pools, parks, and other recreational facilities. It got caught up with in the housing market bubble and has been one of the hardest hit areas in Orange County primarily due to timing and most buyers used stated-income and 0% down, and wouldn't have qualified if they were forced to use traditional financing.
 
[quote author="Geotpf" date=1249971066][quote author="xoneinax" date=1249353435][quote author="xoneinax" date=1248920187]Apr 17, 2009 was when it went bank to the lender, but what was the Nov 18, 2008 transaction ? I cannot imagine any person paid 1.6 for this just 8 months ago ? Did it got go back to the builder and then back to a lender ?



Jul 28, 2009 Listed $869,900 -- SoCalMLS #S583531

Apr 17, 2009 Sold $1,360,949 -32.6%/yr Public Records

Nov 18, 2008 Sold $1,600,000 -1.8%/yr Public Records

Feb 02, 2008 Delisted * -- Inactive SoCalMLS #1

Oct 11, 2007 Listed * -- Inactive SoCalMLS #1

Sep 11, 2006 Sold $1,666,500 -- Public Records</blockquote>


Newbie question. Anybody have a theory as to whether the Nov 18th Sell was a normal buyer ?</blockquote>


I'm going to take a total guess that's probably wrong. I'm guessing it was a related-party transaction (husband to wife, parents to kids, something like that), possibly as some sort of attempt to delay foreclosure.</blockquote>
The $1,600,000 transaction was a regular sale from one individual (lucky bastard) to another individual (bag holder). The $1,360,949 is the Trustee's Deed when Citibank took the property back at the courthouse because there were no suckers...errr...bidders.
 
[quote author="RobertLarsen" date=1249972694]

Agree with most other people. Right now, I would expect to pay $700-$750k for what you're looking for. By next spring, I could see the same properties going to $650,000 to $725,000, but could be wrong. Ladera, as a community, is great and does have a lot of potential upside in the next 5-10 years. It's a new development with primiarily young residents and a great infrastructure; numerous pools, parks, and other recreational facilities. It got caught up with in the housing market bubble and has been one of the hardest hit areas in Orange County primarily due to timing and most buyers used stated-income and 0% down, and wouldn't have qualified if they were forced to use traditional financing.</blockquote>
I agree that it is a nice area (one of my friends lives there), but it is kinda "out there" in terms of location and it is the "pretender" buyer capital of all of Orange County (I remember reading something that the majority of the initial owners of the properties primarily worked in the lending and sales side of real estate along with all the 0% down liar loans and option arm loans). It really is the short sale capital of the OC, and potential buyers need to let the dust settle out (I'm thinking by the summer of next year we'll have a better idea of where the bottom might be).
 
I found one I am eyeballing that is just a touch under 3000 sq. ft. Nice floorplan, fully loaded with pergranteel and has a decent view (well it seems as if 40% of Ladera has a view of something). They are asking in the 785K range and it did sell for a bit over a million at the bubble peak. I am wondering if this would be a good price or will it drop significantly over the next few months and years?



I am just having a tough time with the Ladera equation since I love being coastal and Ladera is not that. But in it's favor, Ladera has nice newer homes at a decent price, good schools and has good kids amenities (pools, parks etc.). I am also considering Laguna Niguel but a lot of it is older. My ideal would be Aliso (good schools, near jobs and coastal, but nothing is for sale there in the price/size I am looking for. All I see are a couple homes where the equity owners are still on a bubble high and sitting without a sale in sight.



Ugh...
 
[quote author="davenlei" date=1249988773]I found one I am eyeballing that is just a touch under 3000 sq. ft. Nice floorplan, fully loaded with pergranteel and has a decent view (well it seems as if 40% of Ladera has a view of something). They are asking in the 785K range and it did sell for a bit over a million at the bubble peak. I am wondering if this would be a good price or will it drop significantly over the next few months and years?



I am just having a tough time with the Ladera equation since I love being coastal and Ladera is not that. But in it's favor, Ladera has nice newer homes at a decent price, good schools and has good kids amenities (pools, parks etc.). I am also considering Laguna Niguel but a lot of it is older. My ideal would be Aliso (good schools, near jobs and coastal, but nothing is for sale there in the price/size I am looking for. All I see are a couple homes where the equity owners are still on a bubble high and sitting without a sale in sight.



Ugh...</blockquote>
Be patient, you start seeing more selection and better pricing in 2010. The inventory side is a bit screwy right now, once more inventory hits the market things should soften a bit. You have to get lucky to find a real seller (death, divorce, relocation, etc), not one that is looking for a sucker.
 
Yea. I know time will most likely open up more properties and lower prices. I just dont want to wait too long since I have to have a home for my family. Funny you should mention relocations to find a deal. I found a Ladera home that is being sold by a management company and they are selling for799K. There is a comp on the same street of the exact same floorplan which went for $741K and when I mentioned that comp, they said they will not sell for under 799K because it would put the house into a short sale and they will not do it. Even relocation companies are being hard headed about prices.
 
[quote author="davenlei" date=1249993642]Yea. I know time will most likely open up more properties and lower prices. I just dont want to wait too long since I have to have a home for my family. Funny you should mention relocations to find a deal. I found a Ladera home that is being sold by a management company and they are selling for799K. There is a comp on the same street of the exact same floorplan which went for $741K and when I mentioned that comp, they said they will not sell for under 799K because it would put the house into a short sale and they will not do it. Even relocation companies are being hard headed about prices.</blockquote>
Wow, you'd think the relo company would spot the previous owner and fill the gap. The Newport Coast escrow that I closed last week and the Irvine escrow that I will close this week both had sellers that moved to another location for a job transfer and both of them priced their homes at very decent prices because they didn't want to deal with 2 mortgages. I do understand about finding a home for the family, waiting can be so difficult...I know it because I can feel with some of my buyers. That being said, your patience will be rewarded in 2010.
 
[quote author="Joe33" date=1249969079][quote author="davenlei" date=1249953137]Well, I am moving out of Irvine and looking in the Ladera Ranch area. Hou much should I expect to pay for a 2800-3000sq. ft. 4-5 bedroom home there (not in the gated areas). I know very little about Ladera other than it is a very kid friendly community which I want (two kids), the schools are good and the homes are newer than areas like Laguna Niguel.



The reason I am asking is because it seems like there is a pretty good size range of what homes are going for in that range.



Also, where do you guys see Ladera prices moving in the next month or two into the fall? It seems as if asking prices are going up a little but looking at all the FC and short sales there makes it seem as if it could easily tip the other way again.



Finally, where do you see Ladera (as a community) in 5-10 years from now price wise and desirability?



Can people who have good knowledge about Ladera let me know because I am a bit confused about that area.



Thanks in advance!</blockquote>


I would say about $700K sounds right for what you are talking about. Maybe $800K as you get to the higher end of your size range.



I live in Ladera and I am very happy with it. It is definitely a place for families with kids. A very kid friendly environment.



One important thing to note, Ladera is split between 2 high schools - Tesoro and the new San Juan Hills. Some people are pretty adamantly opposed to sending their kids to the new SJH school. If that matters to you, you should note that generally the southern half of Ladera (including Covenant Hills) goes to SJH and the northern half goes to Tesoro. The dividing line as I understand it is Roanoke Drive. There are some great neighborhoods north of Crown Valley and just south of Crown Valley that go to Tesoro. My favorite area is the neighborhoods surrounding Flintridge Ave, which do go to Tesoro. Amberly Lane by Taylor Woodrow is the best in my opinion, but might be a little above that $700K to $800K price range.



My kids are not even pre-school age, but when they get older, if we are still in the area, I would likely move to the northern half of Ladera.</blockquote>


I've heard people complain about the school boundaries. Somebody also told me that the boundaries would likely change in the near term.



I enjoy living in Ladera. Our neighbors are friendly and there is a pleasant sense of community with many activities for adults and children. For example, there is a summer concert series and an upcoming beer and wine festival. Take a look at the recent foreclosure radar map info that 25inIrvine posted <a href="http://www.irvinehousingblog.com/forums/viewthread/5782/">here</a>. I was surprised that the Ladera numbers were as low as they were, but, I also don't know what the % to total homes is either. I'm curious what the experts think about the Ladera foreclosure numbers, e.g., are they trending downward? As others have mentioned, Ladera was hit hard and early. However, it seems that condos/townhomes took the brunt of it.
 
[quote author="Joe33" date=1249969079][quote author="davenlei" date=1249953137]Well, I am moving out of Irvine and looking in the Ladera Ranch area. Hou much should I expect to pay for a 2800-3000sq. ft. 4-5 bedroom home there (not in the gated areas). I know very little about Ladera other than it is a very kid friendly community which I want (two kids), the schools are good and the homes are newer than areas like Laguna Niguel.



The reason I am asking is because it seems like there is a pretty good size range of what homes are going for in that range.



Also, where do you guys see Ladera prices moving in the next month or two into the fall? It seems as if asking prices are going up a little but looking at all the FC and short sales there makes it seem as if it could easily tip the other way again.



Finally, where do you see Ladera (as a community) in 5-10 years from now price wise and desirability?



Can people who have good knowledge about Ladera let me know because I am a bit confused about that area.



Thanks in advance!</blockquote>


I would say about $700K sounds right for what you are talking about. Maybe $800K as you get to the higher end of your size range.



I live in Ladera and I am very happy with it. It is definitely a place for families with kids. A very kid friendly environment.



One important thing to note, Ladera is split between 2 high schools - Tesoro and the new San Juan Hills. Some people are pretty adamantly opposed to sending their kids to the new SJH school. If that matters to you, you should note that generally the southern half of Ladera (including Covenant Hills) goes to SJH and the northern half goes to Tesoro. The dividing line as I understand it is Roanoke Drive. There are some great neighborhoods north of Crown Valley and just south of Crown Valley that go to Tesoro. My favorite area is the neighborhoods surrounding Flintridge Ave, which do go to Tesoro. Amberly Lane by Taylor Woodrow is the best in my opinion, but might be a little above that $700K to $800K price range.



My kids are not even pre-school age, but when they get older, if we are still in the area, I would likely move to the northern half of Ladera.</blockquote>




I know about the high school split. I have a kindergarten age kid and am already scoping out the high schools. I spoke to the Principal of the SJH school and he is a very nice person and seemed to truly care about the school and the kids. He said that they are in a transition stage now since it is a new school and they are very concerned and closely watching the API scores. He said they are working to be in line with Tesoro and the other schools by the time they have a full load of kids in the next couple of years (they only have two grades out of four functioning right now). He also said that when Ladera II is eventually built out, another High School will be built and it will change all the school borders again.

From what I have heard, the SJH campus is really nice and modern since it is new. I would think that Capistrano Unified would put more resources into that school over time since it is their newest school and want it to perform well and get it up to speed.
 
Wow... a $1.6m home going for $800k+?!?



What other parts of OC is there this kind of depreciation? When I said that Ladera was experiencing some major price drops... I didn't realize how major.
 
[quote author="usctrojanman29" date=1249994476][quote author="davenlei" date=1249993642]Yea. I know time will most likely open up more properties and lower prices. I just dont want to wait too long since I have to have a home for my family. Funny you should mention relocations to find a deal. I found a Ladera home that is being sold by a management company and they are selling for799K. There is a comp on the same street of the exact same floorplan which went for $741K and when I mentioned that comp, they said they will not sell for under 799K because it would put the house into a short sale and they will not do it. Even relocation companies are being hard headed about prices.</blockquote>
Wow, you'd think the relo company would spot the previous owner and fill the gap. The Newport Coast escrow that I closed last week and the Irvine escrow that I will close this week both had sellers that moved to another location for a job transfer and both of them priced their homes at very decent prices because they didn't want to deal with 2 mortgages. I do understand about finding a home for the family, waiting can be so difficult...I know it because I can feel with some of my buyers. That being said, your patience will be rewarded in 2010.</blockquote>


I also found a family moving to the east coast and selling their home in Laguna Niguel. They have a very nice home but are asking about $50K above comps and were not willing to move on price at all. We were competing with another offer offering the same amount as us and we just walked after receiving the same high counter offer again and again. I just checked online and it is still active so the other guy probably walked as well.
 
[quote author="davenlei" date=1250033146]I am also considering Laguna Niguel. If given the choice, would you rather live in Ladera or Laguna Niguel?</blockquote>


I would say it depends on the stage of life. With young kids, I would take Ladera since everybody there is pretty much in the same boat. For a little older family, I would say Laguna Niguel.
 
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