Laguna Altura homes
- Thread starter pixie122
- Start date
irvinehomeshopper
Well-known member
FCBs not affiliated with a blog site lack insight on LA. The homes are getting absorbed do not mean that they are good. The biggest fatal investment decision among mainland buyers is behaving like herd and getting persuaded by their RE middle man.
The Motor Court Company
Well-known member
Chinese FCB is real; I put the Mandarin link as below (they have English option):http://www.visas.to/cn/myhome/5912/
They convert sq ft into sq meters, and price into RMB, and also emphasize the ownership of these properties is forever (I think in China the land deed is not permanent).
Simple 3 minute Google-fu got me this. This is a real estate company who is specializing in foreign home purchases and immigration. Laguna Altura and Ritz-Carlton Hotel in downtown LA are the only two places advertised in the US.
They convert sq ft into sq meters, and price into RMB, and also emphasize the ownership of these properties is forever (I think in China the land deed is not permanent).
Simple 3 minute Google-fu got me this. This is a real estate company who is specializing in foreign home purchases and immigration. Laguna Altura and Ritz-Carlton Hotel in downtown LA are the only two places advertised in the US.
socalquest
Member
irvinehomeshopper said:
If they are paying all cash, I am sure they can hold on to the property in the worse of times. The only thing they have to worry about is the carrying-cost, like property taxes and HOA fees.
socalquest
Member
irvinehomeshopper said:
Looking at the map, traffic from the 405 affects the Siena tract of Laguna Altura more so than the other tracts. It's no wonder, Cortona is selling better in this community even though it cost $250K+ more. Besides that, in Cortona, you get real single family detached homes without motorcourt driveways. I would definitely buy a Cortona or Toscana, but NOT a Siena or San Remo.
socalquest
Member
irvinehomeowner said:
Are you sure? I'll be one of them very soon, perhaps middle of next month if my finances are ready, but I'm not a foreigner though.
The Motor Court Company
Well-known member
Despite my hatred toward LA, I tend to agree buying Cortona and Toscana is not as bad as the other 2 ghetto projects. Compared to other FCB hotbeds (see the link I provided earlier) in Vancouver and Toronto, Cortona and Toscana are such a bargain for Chinese FCBs (cheaper and detached true SFRs with driveway) so I expect them to hold value pretty well. Just make sure you can communicate basic Mandarin with your neighbors.
socalquest said:
irvinehomeowner
Well-known member
I can kind of answer your question... at least for SFRs... there really isn't a price/size comparable house in QH that is readily available compared to Cortona. It gets closer when you factor in MRs and HOAs... but it's not like you see a ton of SFRs available in QH for sub $1mil.Patrick J. Star said:
But other than that... everything else about LA is inferior to QH.
irvinehomeshopper
Well-known member
Extortion and bribery pending? Typical Asian cheat on taxes. Sounds like by April 15th you will know?
socalquest said:irvinehomeowner said:
Are you sure? I'll be one of them very soon, perhaps middle of next month if my finances are ready, but I'm not a foreigner though.
socalquest
Member
Patrick J. Star said:
I believe a new Cortona on a per square foot price currently is still cheaper than a Quail Hill secondhand comparible.
usctrojancpa
Well-known member
Is that after you factor in for upgrades, landscaping, and higher HOA & Mello Roos? Just like with cars, not many people buy the "base" model with no upgrades.socalquest said:
The Motor Court Company
Well-known member
Patrick J. Star said:
You don't get Chinese culture, especially those with money. They don't like to DIY and that's why Home Depot failed in China. They prefer new over old, or any housing that requires some fixing or updates.
There are usually home buying seminars in China showcasing oversea properties, like Laguna Altura. FCBs have limited time touring the houses when visiting the States and it is much more easier to buy readily available new constructions. You cannot just go to Northwood Pointe on any random Saturday, find a house with the floorplan and location that you like, in move-in condition with all the right upgrades, and buy it right away.
Chinese like to showboat their new found riches. Price itself is a premium feature in real estate. Native Chinese won't know the difference between Portola Springs, Stonegate and Laguna Altura. But they would understand the universal language - Laguna Altura costs more $$$ than the others so it must be good.
When KFC opened its doors in Beijing in 1987, at a time an meal cost more than one month salary of an average Chinese worker, it received crazy receptions - the lines were backed to 1.5 km long, and it became the top wedding reception spot for young Chinese couples. This is one of the countless examples that Chinese with money do not care about fundamental value; they just want something new, different and costly.
Below is what TIC can do to make Chinese FCB drool over Laguna Altura even more:
1. Build a Chinese themed pocket park - like a pond with Lotus flowers and bamboo surroundings.
2. Upgrade the wall outside Cortona, right after the impressive gate entrance, to look like "Great Wall". So the Great Wall of Laguna Altura will be the welcoming feature for these Chinese FCBs coming home.
3. Come up with a nice alternative name in Chinese for Laguna Altura, and have this new name engraved as part of village sign so it is clear this is their home.
IndieDev
New member
The Motor Court Company said:
This is what I call a solution. If they did mock Mongolian invasions lead by an actor playing Genghis Khan, launching rocks, and arrows against the wall, that would be even better. Best solution suggested thus far for adding value to Laguna Altura.
The Motor Court Company
Well-known member
Visited Laguna Altura again this weekend after a couple months. It looks like for each of the 4 tracts, only around 2 phases have closed escrow and have residents. This is pathetic considering it opened in last May and the foot traffic is quite decent. There is so much road noise from the 133 at the center park area near Toscana model homes. It does feel tranquil if you are deaf.
The new park being built is nice as it got nice views. At the cul-de-sec near Sienna there is a great view of the 1700+ apartment development at former Wild Rivers. I wonder if the TIC marketing machine can think something out of this.
The new park being built is nice as it got nice views. At the cul-de-sec near Sienna there is a great view of the 1700+ apartment development at former Wild Rivers. I wonder if the TIC marketing machine can think something out of this.
irvinehomeowner
Well-known member
Oh yeah... I was so high on Laguna Crossings... until I saw the floorplans at Stonegate which I had a feeling they would bring over there... and then the price points and HOA and not-so-good neighborhood layout... bleh.
But I still like Cortona Plan 2... but not for that price... however, I will buy it with the Indie $200k discount... even with the freeway toxicity.
But I still like Cortona Plan 2... but not for that price... however, I will buy it with the Indie $200k discount... even with the freeway toxicity.
The Motor Court Company
Well-known member
How TIC screwed it up:
1. Greed
-stole from IHO in a much older thread
the original layout is so much better
$5k mello-roos, $300 HOA/month don't help either.
2. Timing
Should not have started this development along with Stonegate which offers the same housing with much lower price points.
3. Innovation in the wrong areas
"Coastal Canyon" is clever, but the innovation should be in floor-plans and home features such as Wok kitchen, built-in lotus toilet seats, mahjong room and underground cellars.
1. Greed
-stole from IHO in a much older thread
the original layout is so much better
$5k mello-roos, $300 HOA/month don't help either.
2. Timing
Should not have started this development along with Stonegate which offers the same housing with much lower price points.
3. Innovation in the wrong areas
"Coastal Canyon" is clever, but the innovation should be in floor-plans and home features such as Wok kitchen, built-in lotus toilet seats, mahjong room and underground cellars.
irvinehomeshopper
Well-known member
Lowering prices is a threat to the brand perception. Consumers' biggest fear is buying now and price depreciates tomorrow. TIC will offer free upgrades or cash back before letting prices drop.