Maricopa - Zoned as a Condo?

OCMommy said:
We were seriously considering Plan 2 or 3 of Maricopa in Stonegate.  One of these just hit the MLS and the lot size is shocking.  It is also noted as a condo.  I mean really, 1 million dollars and you cannot even get a SFR?  Dh is worried that this will affect resale value.  I can't believe what TIC is getting away with!
http://www.redfin.com/CA/Irvine/47-KINGSBURY-92620/unit-73/home/39968309
Click to expand...
Hitting MLS about a month after the grand opening...WOW.
 
Can't be a condo...it is a detached SFR.  Most likely a typo by the broker that inputted into MLS.
 
USCTrojanCPA said:
OCMommy said:
We were seriously considering Plan 2 or 3 of Maricopa in Stonegate.  One of these just hit the MLS and the lot size is shocking.  It is also noted as a condo.  I mean really, 1 million dollars and you cannot even get a SFR?  Dh is worried that this will affect resale value.  I can't believe what TIC is getting away with!
http://www.redfin.com/CA/Irvine/47-KINGSBURY-92620/unit-73/home/39968309
Click to expand...
Hitting MLS about a month after the grand opening...WOW.
Click to expand...

This has to be a mistake. Phase 1 through Phase Gazillion sold out months ago.
 
jsk said:
Can't be a condo...it is a detached SFR.  Most likely a typo by the broker that inputted into MLS.
Click to expand...
Fat finger TIC input error.  You want me to go onto my MLS and report the listing as being in violation?  haha
 
IndieDev said:
USCTrojanCPA said:
OCMommy said:
We were seriously considering Plan 2 or 3 of Maricopa in Stonegate.  One of these just hit the MLS and the lot size is shocking.  It is also noted as a condo.  I mean really, 1 million dollars and you cannot even get a SFR?  Dh is worried that this will affect resale value.  I can't believe what TIC is getting away with!
http://www.redfin.com/CA/Irvine/47-KINGSBURY-92620/unit-73/home/39968309
Click to expand...
Hitting MLS about a month after the grand opening...WOW.
Click to expand...

This has to be a mistake. Phase 1 through Phase Gazillion sold out months ago.
Click to expand...
Where are the rich Chinadians when TIC needs them most?
 
USCTrojanCPA said:
IndieDev said:
USCTrojanCPA said:
OCMommy said:
We were seriously considering Plan 2 or 3 of Maricopa in Stonegate.  One of these just hit the MLS and the lot size is shocking.  It is also noted as a condo.  I mean really, 1 million dollars and you cannot even get a SFR?  Dh is worried that this will affect resale value.  I can't believe what TIC is getting away with!
http://www.redfin.com/CA/Irvine/47-KINGSBURY-92620/unit-73/home/39968309
Click to expand...
Hitting MLS about a month after the grand opening...WOW.
Click to expand...

This has to be a mistake. Phase 1 through Phase Gazillion sold out months ago.
Click to expand...
Where are the rich Chinadians when TIC needs them most?
Click to expand...

Han Chinese baby! The coolest cats in town.
 
Terran said:
Where are the rich Chinadians when TIC needs them most?
Click to expand...

They're busy buying up Vancouver:http://wallstreetpit.com/75400-vancouver-housing-prices-pass-new-york-and-london-as-chinese-move-in
Click to expand...

Hello everyone, I am new to TI and am enjoying your posts! My husband and I just moved to the Orange County two years ago. We lived in Vancouver in the 90s and still have family there. I can tell you the locals are just so very frustrated with the FCB phenomenon. We have friends who would never be able buy anything decent because the prices are so high, a 25 y.o., 2bedroom, 2.5bathroom, 1200sf townhouse can sell for 400k+USD.
When we checked out Laguna Altura on Sunday and SG last month, we felt like we were back in Vancouver again...
 
jsk said:
Can't be a condo...it is a detached SFR.  Most likely a typo by the broker that inputted into MLS.
Click to expand...

plus the redfin listing shows the location of this property as being in Northwood next to the Zion Korean market, so lots of errors on this listing...bad broker bad broker!
 
Nice $35k drop, from $983k at opening.  Man I do sense some blood in the water.  To all Maricopa buyers, hold hold hold.  See what's coming next from our TIC builder.  Can't wait to see what phase 3 prices will be. 
 
ps99472 said:
Nice $35k drop, from $983k at opening.  Man I do sense some blood in the water.  To all Maricopa buyers, hold hold hold.  See what's coming next from our TIC builder.  Can't wait to see what phase 3 prices will be. 
Click to expand...
PS, do you want to head up the Maricopa Buyers Against High TIC Prices Union?
 
USCTrojanCPA said:
ps99472 said:
Nice $35k drop, from $983k at opening.  Man I do sense some blood in the water.  To all Maricopa buyers, hold hold hold.  See what's coming next from our TIC builder.  Can't wait to see what phase 3 prices will be. 
Click to expand...
PS, do you want to head up the Maricopa Buyers Against High TIC Prices Union?
Click to expand...

Anyone second that? 
 
This price is lower then their "base" price of $965k for a plan 3.  See what happens when builders get desperate?  Have patience and good things will follow.  Can't wait till Oct, or maybe even June when QEII ends. 
 
aealong said:
jsk said:
Can't be a condo...it is a detached SFR.  Most likely a typo by the broker that inputted into MLS.
Click to expand...

plus the redfin listing shows the location of this property as being in Northwood next to the Zion Korean market, so lots of errors on this listing...bad broker bad broker!
Click to expand...
The location may not be the broker's fault. Since the streets are new, there won't be a way to locate the address on a map. You can't even Google Maps 47 Kingsbury.
 
The lot to FAR ratio is ridiculous.  When I saw the models, the yards were so tiny.  Im not complaining about the yard size as much, but rather the lack of privacy if you have a rear neighbor.
 
I took my relatives around Irvine and in some of the neighborhoods with houses on lots that seemed big and spacious and well landscaped to me (an Irvine resident), my relatives said, wow, what small lots.  I'm wondering if the density that TIC is going with isn't going to come back and bite them and us (Irvine homeowners) by hurting property values down the line.  Instead of people thinking what a nice place Irvine is to live, maybe people will start thinking in the future what a high density place Irvine is to live.  I think the densities in all the newer communities are so high it'll backfire eventually on TIC.  Or maybe not, maybe they know what they're doing...
 
STOP these threads actually get me excited to start thinking that prices will go down and TIC will realize ... I just don't think it will happen.
 
aealong said:
I took my relatives around Irvine and in some of the neighborhoods with houses on lots that seemed big and spacious and well landscaped to me (an Irvine resident), my relatives said, wow, what small lots.  I'm wondering if the density that TIC is going with isn't going to come back and bite them and us (Irvine homeowners) by hurting property values down the line.  Instead of people thinking what a nice place Irvine is to live, maybe people will start thinking in the future what a high density place Irvine is to live.  I think the densities in all the newer communities are so high it'll backfire eventually on TIC.  Or maybe not, maybe they know what they're doing...
Click to expand...

I think as long as the infrastructure can handle the density being built, it will not severely affect property values.  I feel density will affect the type of population that will live in an area.  That is why I sold my house in Irvine and moved further into South County.
 
ps99472 said:
This price is lower then their "base" price of $965k for a plan 3.  See what happens when builders get desperate?  Have patience and good things will follow.  Can't wait till Oct, or maybe even June when QEII ends.
Click to expand...

I agree, my gut tells me that TIC will have to make some changes if they want to sell their new SFR products (in Stonegate and Laguna Altura) at a faster pace.  They are struggling so badly to create any momentum on selling the Maricopa, Cortona and Toscana.  I'm definitely going to wait to see what happens. 

I wish TIC had priced all of their products at about $50,000 less on each home and I think there would be much at least some movement. 



 
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