Lambert Ranch: PS

T

the.irvine

Active member
How would you rate Lambert Ranch in Portola Springs?

A) Does it really command the price premium compared to the neighborhood?
B) How is resale at LR
C) What is status of property value at LR

I had a chance to visit this place few times, looks upscale with gated community, and feels very safe and secure.

Thoughts?
 
Houses in LR always sell quickly, there's not many homes there so I'm sure when 1 comes up for sale it pops on 100+ buyers radar right away.

Prices per SF are more than PS but rightfully so, and of course there is no MR in LR, very rare to find in any new Irvine community.

Also I think guard gated trumps keypad gated any day.
 
aquabliss said:
Also I think guard gated trumps keypad gated any day.
Click to expand...

aren't the HOAs kind of high though?  and sitting directly underneath the landfill?  it's about as close as you can get.
 
Price per square feet is over $500 for view lots and slightly less without.  Generally higher than the surrounding PS area.

Neighbor's house had multiple offers on day one of listing and sold quickly.



 
I don't see any resales in LR right now.  Residents are probably quite happy with their location and property tax.  I would say at this time of year when all their co-workers are complaining about mello-roos, the LR residents realize how good they have it and don't want to move/sell.
 
Not sure if it's really good for LR to have the "old Lambert Ranch home" in the center of its community.

Clearly, the Lamberts kept their old home in the of the community for themselves when they sold the rest of the land to TNHC and developed LR, and possibly signed the agreement to allow the cell tower to be placed on top of the LR. 

So, then end product is a community where you get a super sized cell tower at the top, landfill nearby, a really dated SFR w/ 4 car garage in the center (which doesn't blend in w/ the rest of the community).  No mello roos?  I think the residents are paying for the mello roos in other ways.

A few years after built out, the Lamberts now would like to sell the "old Lambert Ranch home", but can't get rid of it no matter how many times they lowered the price.  They should have just sold it to TNHC and made the whole community design better. 


 
Funkie said:
Not sure if it's really good for LR to have the "old Lambert Ranch home" in the center of its community.

Clearly, the Lamberts kept their old home in the of the community for themselves when they sold the rest of the land to TNHC and developed LR, and possibly signed the agreement to allow the cell tower to be placed on top of the LR. 

So, then end product is a community where you get a super sized cell tower at the top, landfill nearby, a really dated SFR w/ 4 car garage in the center (which doesn't blend in w/ the rest of the community).  No mello roos?  I think the residents are paying for the mello roos in other ways.

A few years after built out, the Lamberts now would like to sell the "old Lambert Ranch home", but can't get rid of it no matter how many times they lowered the price.  They should have just sold it to TNHC and made the whole community design better. 
Click to expand...

Now you mentioned, wow, that old Lambert home drop the price from $2.2m to $1.698m.
http://www.talkirvine.com/index.php/topic,13627.msg274316.html#msg274316
https://www.redfin.com/CA/Irvine/55-Parson-Brown-92618/home/101329364
 
lnc said:
Funkie said:
Not sure if it's really good for LR to have the "old Lambert Ranch home" in the center of its community.

Clearly, the Lamberts kept their old home in the of the community for themselves when they sold the rest of the land to TNHC and developed LR, and possibly signed the agreement to allow the cell tower to be placed on top of the LR. 

So, then end product is a community where you get a super sized cell tower at the top, landfill nearby, a really dated SFR w/ 4 car garage in the center (which doesn't blend in w/ the rest of the community).  No mello roos?  I think the residents are paying for the mello roos in other ways.

A few years after built out, the Lamberts now would like to sell the "old Lambert Ranch home", but can't get rid of it no matter how many times they lowered the price.  They should have just sold it to TNHC and made the whole community design better. 
Click to expand...

Now you mentioned, wow, that old Lambert home drop the price from $2.2m to $1.698m.
http://www.talkirvine.com/index.php/topic,13627.msg274316.html#msg274316
https://www.redfin.com/CA/Irvine/55-Parson-Brown-92618/home/101329364
Click to expand...

I assume this home would be a tear down. Given it has a 1.6 acre lot, I could see an investor subdivide the property for multiple homes.
 
Funkie said:
Not sure if it's really good for LR to have the "old Lambert Ranch home" in the center of its community.

Clearly, the Lamberts kept their old home in the of the community for themselves when they sold the rest of the land to TNHC and developed LR, and possibly signed the agreement to allow the cell tower to be placed on top of the LR. 

So, then end product is a community where you get a super sized cell tower at the top, landfill nearby, a really dated SFR w/ 4 car garage in the center (which doesn't blend in w/ the rest of the community).  No mello roos?  I think the residents are paying for the mello roos in other ways.

A few years after built out, the Lamberts now would like to sell the "old Lambert Ranch home", but can't get rid of it no matter how many times they lowered the price.  They should have just sold it to TNHC and made the whole community design better.
Click to expand...

As far as I know that home is a historical building and cannot be torn down.
 
Funkie said:
Not sure if it's really good for LR to have the "old Lambert Ranch home" in the center of its community.

Clearly, the Lamberts kept their old home in the of the community for themselves when they sold the rest of the land to TNHC and developed LR, and possibly signed the agreement to allow the cell tower to be placed on top of the LR. 

So, then end product is a community where you get a super sized cell tower at the top, landfill nearby, a really dated SFR w/ 4 car garage in the center (which doesn't blend in w/ the rest of the community).  No mello roos?  I think the residents are paying for the mello roos in other ways.

A few years after built out, the Lamberts now would like to sell the "old Lambert Ranch home", but can't get rid of it no matter how many times they lowered the price.  They should have just sold it to TNHC and made the whole community design better. 
Click to expand...

Is it really an issue to have that old house there?  I've driven around the community multiple times and still have no idea where that house is within the community so obviously it's not an eyesore or a problem for residents.  I think you have to drive up some unmarked driveway up a hill to get there but I don't think it's visible from the streets unless you're really trying hard to find it. 

The landfill is a non-issue.  If you didn't know it's there you wouldn't know it was there - meaning that it doesn't really have any impact on daily life and I've never smelled anything emitting from it when in the area. 
 
aquabliss said:
Funkie said:
Not sure if it's really good for LR to have the "old Lambert Ranch home" in the center of its community.

Clearly, the Lamberts kept their old home in the of the community for themselves when they sold the rest of the land to TNHC and developed LR, and possibly signed the agreement to allow the cell tower to be placed on top of the LR. 

So, then end product is a community where you get a super sized cell tower at the top, landfill nearby, a really dated SFR w/ 4 car garage in the center (which doesn't blend in w/ the rest of the community).  No mello roos?  I think the residents are paying for the mello roos in other ways.

A few years after built out, the Lamberts now would like to sell the "old Lambert Ranch home", but can't get rid of it no matter how many times they lowered the price.  They should have just sold it to TNHC and made the whole community design better. 
Click to expand...

Is it really an issue to have that old house there?  I've driven around the community multiple times and still have no idea where that house is within the community so obviously it's not an eyesore or a problem for residents.  I think you have to drive up some unmarked driveway up a hill to get there but I don't think it's visible from the streets unless you're really trying hard to find it. 

The landfill is a non-issue.  If you didn't know it's there you wouldn't know it was there - meaning that it doesn't really have any impact on daily life and I've never smelled anything emitting from it when in the area.
Click to expand...

Aqua loves this neighborhood. Maybe he'll own their someday.
 
Is it really an issue to have that old house there?  I've driven around the community multiple times and still have no idea where that house is within the community so obviously it's not an eyesore or a problem for residents.  I think you have to drive up some unmarked driveway up a hill to get there but I don't think it's visible from the streets unless you're really trying hard to find it. 

The landfill is a non-issue.  If you didn't know it's there you wouldn't know it was there - meaning that it doesn't really have any impact on daily life and I've never smelled anything emitting from it when in the area.
[/quote]

Not an issue as long as it doesn't bother you.

However, normally, being next to the landfill + directly under the cell tower + odd community design (having the old LR home) are usually not pluses who it comes to resell.

I too considered LR, visited it several times.  I love LR's floorplans, still very nice designs comparing to today's floorplans.  The original owners prob made $200k-$300k by now.  But that's the average gain if you bought any SFR property in Irvine in 2012. 

LR is very unique considering the small community size and the guard gate, the most comparable community is HC.
 
Depending on what phase you bought and what plan (field, hill or Grove) gains are more like anywhere between $400k to $800k, much more than average gain. 
 
Funkie said:
Not sure if it's really good for LR to have the "old Lambert Ranch home" in the center of its community.

Clearly, the Lamberts kept their old home in the of the community for themselves when they sold the rest of the land to TNHC and developed LR, and possibly signed the agreement to allow the cell tower to be placed on top of the LR. 

So, then end product is a community where you get a super sized cell tower at the top, landfill nearby, a really dated SFR w/ 4 car garage in the center (which doesn't blend in w/ the rest of the community).  No mello roos?  I think the residents are paying for the mello roos in other ways.

A few years after built out, the Lamberts now would like to sell the "old Lambert Ranch home", but can't get rid of it no matter how many times they lowered the price.  They should have just sold it to TNHC and made the whole community design better.
Click to expand...

Not sure if Funkie is at all familiar with LR.

The old Lambert family home in the center of the community is a non-issue. It's not visible and you have to drive up a private driveway if you want to see it.

He "thinks" the residents are paying for MR in other ways. What other ways? The New Home Company paid off MR. So, yes, it's possible that the cost was incorporated into the price of the homes when they were originally sold. That said, the prices of the homes were quite good at the time for what you were getting. It's not like buyers paid a huge amount above and beyond the cost of a home in order not to pay MR for 30 years.

Landfill is a non-issue. I've lived here since the community opened, and I can recall only a single day when I smelled anything foul. I called the landfill, and they explained why there was the smell, and nothing since. A single day (for a few hours at that) in 4 years.

The Lambert sisters died, which is why the home is for sale. The home cannot be torn down and the lot subdivided. That's why it hasn't sold.

Maybe Funkie can learn a bit about the community before spouting off his opinions as facts.
 
The landfill is responsible for only one thing.. The Irvine FLIES!!! 
 
There's always been flies on Irvine. Plenty of bees also given the orange groves.

Really surprised the Lambert Sister's home hasn't sold. Yes, it's got to remain "as is", but still.... I love the older style homes. You can always build / improve elsewhere on the property if needed. I bet you could put a nice basement in also. Anyone got $1.5 to lend me? (as that's the true value of the place....)

My .02c

SGIP
 
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