Laguna Crossing - PA18

kcmkane_IHB

kcmkane_IHB

New member
<p>Have not seen any discussion out here on Laguna Crossing (Planning Area 18) as of yet. Dug up some information on TIC websites. Looks like it is scheduled to open Summer 2008. For those of you (like myself) who were disappointed by the market space where TIC positioned Orchard Hills, it sounds like Laguna Crossing is planning to offer "attached and single family homes for entry level, move-up, and family buyers". Let's hope so. </p>

<p><a href="http://www.irvineranch.com/villages/lagunacrossing">http://www.irvineranch.com/villages/lagunacrossing</a></p>

<p><a href="http://www.lagunacrossingupdate.com">http://www.lagunacrossingupdate.com</a></p>

<p><a href="http://www.pa18update.com/">http://www.pa18update.com/</a></p>

<p> </p>
 
If prices don't drop, 1 bed condo for $400k.





If prices drop to early quail hill phase era, same small-ish 1 bed condo with 1 car garage for $250k-$300k.





If you can buy it for $250k with $50k down-payment + $200k fixed rate loan, you might break even or come close it on rental income. Or, you can deposit the $50,000 into Dominion Group's Chic Investment Fund and probably make just as much $$ over 22 years. (Disclaimer: consult your financial adviser)
 
<p>apparently Laguna Crossing will feature popular "re-use" products such a "Treo" from Brookfield/ Woodbury, "cachette" from Woodbury/ Pulte, "Stonetree" from Laing/Woodbury, "Casalon" Laing/Quail Hill.....</p>

<p>The funny thing is that each pro-forma is targeted to price each product identical to it's predecessor! </p>
 
What price do you think TIC will offer for single family homes? also, i'm a little new to real estate lingo, could someone tell me what "re-use products" are. Keitht925, i'd love some additional discussion on your pro-forma pricing comment - thanks
 
Laguna Crossing's pricing will be comparable to Woodbury. TIC is labeling is also as Quail Hill pt.2......"re-use" products are floorplans used in previous projects and pro-forma pricing was taken from woodbury comps in Feb of 2005 for builders to draw their initial budgets. But lately TIC is finally being sentimental to builder's with land cost for each lot they purchase from them...so pricing may be lower than what is expected.
 
<em>"pro-forma pricing was taken from woodbury comps in Feb of 2005 for builders to draw their initial budgets."</em>





Goodness. TIC really is in denial - not to mention cherry picking the top of the bubble. I have half a mind to send them a letter with a letter with a copy of IR's post about a home selling for the amount of your borrower's loan. Not that it would do any good.
 
<p>Cool - thanks for the input and clarification. So do you think that detached homes will start around mid 600s? Also, do you have any thoughts on the value of the area - by this I mean, would you invest brand new in a Laguna Crossing home or would you buy in a better area, say turtle ridge? Again, i'd love feedback and appreciate and value your opinions - thanks!</p>

<p> </p>

<p>TR</p>
 
<p>Now a day that renter in your Casita could be your kid who could not hold a job after college and owe you rent for the last 5 years.</p>
 
I've not driven around that area 133 and 405, but have they started grading? Looks like Orchard Hills has been grading at the same time as Portola Springs (while viewing msn Live aerial satellite views). But Laguna Crossing seems much much smaller than OH.
 
Went to Portola Springs and looked at Vientos. Any idea if prices will drop further? I am just surprise that with the lack of buyers, they're not dropping prices more.
 
Reason,



I haven't looked at Vientos, but I've seen a number of villages that seem to have the exact same inventory as 6 weeks ago, and prices are the same, in some cases higher! Well, some were higher since there were no buyers, the builders had to start spec'ing the lots and put in "upgrades" into the home. If some builders are a calendar fiscal year, then I guess end of september is good time to wheel and deal or hopefully catch some price reductions...
 
Bubblegum - When you say, "end of september is good time to wheel and deal or hopefully catch some price reductions", what year might you be refering to? (smiley face)
 
Awgee,





Ha! 2009 I'm guessing, but any QE or YE would be a better time when numbers need to be hit, just like buying enterprise software.
 
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