Newport Coast
- Thread starter sell4u_IHB
- Start date
IrvineRealtor_IHB
New member
[quote author="graphrix" date=1210997928]Awe... Look at our boy skek here, he's all growns up... He sounds like one of us bears now. What about this, or this house, and this house? I love it.
</blockquote>
Skek, you're so money and you don't even know it. A bear with fangs and claws and everything.
<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
</blockquote>
Skek, you're so money and you don't even know it. A bear with fangs and claws and everything.
<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
EvaLSeraphim_IHB
New member
[quote author="skek" date=1211009921]Well, I'm still just a rubbernecker at this train wreck, I leave the real heavy lifting to the professionals. I am particularly fascinated by what's going to happen to the high end -- I could never fathom how so many people in OC could afford $2 million+ houses, and thanks to IHB, now I know they never could.</blockquote>
Don't forget, there's plenty of not hard earned money in OC. Back in 1998 (yeah, I know, ten years ago), I heard from a NB police officer that Newport had the highest rate of white collar crime in the nation.
Don't forget, there's plenty of not hard earned money in OC. Back in 1998 (yeah, I know, ten years ago), I heard from a NB police officer that Newport had the highest rate of white collar crime in the nation.
graphrix_IHB
New member
[quote author="skek" date=1211007236]Yep, yep. Not only that, I got tired of everyone else having access to all the inside information, so I just pulled the trigger on my RealtyTrac subscription. I even found out that my local neighborhood realtor has recently been served up with his first NOD.</blockquote>
I was so close, so, so close to ripping on IR2 here. But I can't, I just can't when he gets the Swingers reference.
And why RealtyCrap? Haven't you gotten all the comments I have made on how Ipop is wasting his money on them, when he should be spending his money on the good stuff of foreclosureradar.com? Okay, maybe not <em>all</em> grown up, but baby steps.
I was so close, so, so close to ripping on IR2 here. But I can't, I just can't when he gets the Swingers reference.
And why RealtyCrap? Haven't you gotten all the comments I have made on how Ipop is wasting his money on them, when he should be spending his money on the good stuff of foreclosureradar.com? Okay, maybe not <em>all</em> grown up, but baby steps.
sell4u_IHB
New member
[quote author="skek" date=1210991573][quote author="graphrix" date=1210988655]Speaking of foreclosures in NC, <a href="http://www.zillow.com/HomeDetails.htm?zprop=63113553">22 Observatory</a> went back to the bank yesterday for $2.52mil, and it was bought for $2.7mil in 2005. Ouch!</blockquote>
Thanks, graph. This will have repurcussions in Pacific Ridge. The even numbered houses on Observatory have ocean views (correct me if I'm wrong, sell4u). 18 Observatory was the last sale on the street -- just a nudge over $3 million in September 2007. That was an ocean view Plan 2. It's hard to tell, but I think 22 Observatory is a slightly smaller Plan 1, but with a better ocean view on a larger corner lot. And no one stepped up to take it at $2.5 million.
What do you think the seller across the street at <a href="http://www.redfin.com/CA/Newport-Coast/15-Observatory-92657/home/5928794">15 Observatory </a>thinks? He's asking $2.879 million for a Plan 4 on a smaller lot with no view. How about the two flippers one street higher at <a href="http://www.redfin.com/CA/Newport-Coast/10-Meridian-92657/home/5928824">10 Meridian</a> and <a href="http://www.redfin.com/CA/Newport-Coast/12-Meridian-92657/home/5928825">12 Meridian</a>, trying to unload homes with the same view (more rooftops) for $3.275 million and $3.3 million, respectively. Don't get me started on some of the other Cypress sellers in Pacific Ridge.</blockquote>
All of Pacific Ridge (Belcara, Cypress, Costa Azul, and Pienza) are going to get hit, hard. Pac Ridge was developed towards the top of the housing market. Couple that with easy lending/credit, and anyone who is truly set on selling right now in there is in for a ruid awakening, especially spec buyers.
Correct, even numbers on Observatory represent view properties. 15 Obervatory, again another spec buyer who lives across the community in Ocean Heights. That crazy seller originally came on at something like $3.4?? musta thought he was going to be a flipper!
Thanks, graph. This will have repurcussions in Pacific Ridge. The even numbered houses on Observatory have ocean views (correct me if I'm wrong, sell4u). 18 Observatory was the last sale on the street -- just a nudge over $3 million in September 2007. That was an ocean view Plan 2. It's hard to tell, but I think 22 Observatory is a slightly smaller Plan 1, but with a better ocean view on a larger corner lot. And no one stepped up to take it at $2.5 million.
What do you think the seller across the street at <a href="http://www.redfin.com/CA/Newport-Coast/15-Observatory-92657/home/5928794">15 Observatory </a>thinks? He's asking $2.879 million for a Plan 4 on a smaller lot with no view. How about the two flippers one street higher at <a href="http://www.redfin.com/CA/Newport-Coast/10-Meridian-92657/home/5928824">10 Meridian</a> and <a href="http://www.redfin.com/CA/Newport-Coast/12-Meridian-92657/home/5928825">12 Meridian</a>, trying to unload homes with the same view (more rooftops) for $3.275 million and $3.3 million, respectively. Don't get me started on some of the other Cypress sellers in Pacific Ridge.</blockquote>
All of Pacific Ridge (Belcara, Cypress, Costa Azul, and Pienza) are going to get hit, hard. Pac Ridge was developed towards the top of the housing market. Couple that with easy lending/credit, and anyone who is truly set on selling right now in there is in for a ruid awakening, especially spec buyers.
Correct, even numbers on Observatory represent view properties. 15 Obervatory, again another spec buyer who lives across the community in Ocean Heights. That crazy seller originally came on at something like $3.4?? musta thought he was going to be a flipper!
Gohabsgo_IHB
New member
I was involved in a conversation with someone living in NC. Some people from Tx where asking how the OC market was going. His answer was that OC was down 20-25% (correct), but that coastal properties were holding up (incorrect). The funny thing is that he bought in 2006 for $6.0M, but he doesn't even have an ocean view.
On a different note, new homes in Pelican Hill are selling for $650/sq. ft (w/ ocean view) or $500/sq. ft (w/ mountain view). Add as much as you want for upgrades and landscaping, the new homes are much cheaper than existing homes on the coast.
On a different note, new homes in Pelican Hill are selling for $650/sq. ft (w/ ocean view) or $500/sq. ft (w/ mountain view). Add as much as you want for upgrades and landscaping, the new homes are much cheaper than existing homes on the coast.
sell4u_IHB
New member
[quote author="Roo" date=1211180062]I was involved in a conversation with someone living in NC. Some people from Tx where asking how the OC market was going. His answer was that OC was down 20-25% (correct), but that coastal properties were holding up (incorrect). The funny thing is that he bought in 2006 for $6.0M, but he doesn't even have an ocean view.
On a different note, new homes in Pelican Hill are selling for $650/sq. ft (w/ ocean view) or $500/sq. ft (w/ mountain view). Add as much as you want for upgrades and landscaping, the new homes are much cheaper than existing homes on the coast.</blockquote>
Roo I really hope he did not buy in NC for $6.0m with no ocean view. Maybe if I was moving to hot, oops I mean Shady Canyon....
where do you see ocean view homes in Pelican Hill trading at $650 (ocean view) a square foot? The lowest priced active right now (atleast according to the MLS) is 1 Gallery Place, and off the top of my head I believe it was around $760/785 currently a square foot, "so-so" ocean view. Last three solds in Pelican Hill were ocean view, $844,$875,$1,00.
On a different note, new homes in Pelican Hill are selling for $650/sq. ft (w/ ocean view) or $500/sq. ft (w/ mountain view). Add as much as you want for upgrades and landscaping, the new homes are much cheaper than existing homes on the coast.</blockquote>
Roo I really hope he did not buy in NC for $6.0m with no ocean view. Maybe if I was moving to hot, oops I mean Shady Canyon....
where do you see ocean view homes in Pelican Hill trading at $650 (ocean view) a square foot? The lowest priced active right now (atleast according to the MLS) is 1 Gallery Place, and off the top of my head I believe it was around $760/785 currently a square foot, "so-so" ocean view. Last three solds in Pelican Hill were ocean view, $844,$875,$1,00.
Gohabsgo_IHB
New member
[quote author="sell4u" date=1211192088]where do you see ocean view homes in Pelican Hill trading at $650 (ocean view) a square foot? </blockquote>
Oops Sorry, I meant Crystal Cove. I checked them out the other day, SeaPoint by Laing Luxury Homes. Way out of my range, but always fun to check out!
Should NC be more or less expensive than Crystal Cove? Personally CV is more private, and has nicer views IMO.
Oops Sorry, I meant Crystal Cove. I checked them out the other day, SeaPoint by Laing Luxury Homes. Way out of my range, but always fun to check out!
Should NC be more or less expensive than Crystal Cove? Personally CV is more private, and has nicer views IMO.
sell4u_IHB
New member
Crystal Cove, while part of Newport Coast (92657) is on average still more expensive than Newport Coast, but prices are coming down.
28 Sidra(Front row sweeping ocean view Seascape home) just closed last week for $2.4m ~ $724p.sq.ft. Seascape homes were trading at $1,000sq.ft. or more all day long during 2005/2006. The home was only the market a true 35 days, needless to say priced to sell in this market. Then again you have 146 Sidney Bay (on and off the market, probably on the market atleast 5-7 months) sold last week at $1,000 a square foot, way to much IMO. 28 Sidra has better views than 146 Sidney Bay.
Last I checked which was not that long ago, Sea Point was getting really aggressive with their pricing. view homes between $4.8-$5.3m and non view in the $3.8-$4.2m if that's still the pricing.
28 Sidra(Front row sweeping ocean view Seascape home) just closed last week for $2.4m ~ $724p.sq.ft. Seascape homes were trading at $1,000sq.ft. or more all day long during 2005/2006. The home was only the market a true 35 days, needless to say priced to sell in this market. Then again you have 146 Sidney Bay (on and off the market, probably on the market atleast 5-7 months) sold last week at $1,000 a square foot, way to much IMO. 28 Sidra has better views than 146 Sidney Bay.
Last I checked which was not that long ago, Sea Point was getting really aggressive with their pricing. view homes between $4.8-$5.3m and non view in the $3.8-$4.2m if that's still the pricing.
graphrix_IHB
New member
Ut roh... 3 Hidden Pass is no longer hiding from the bank, the bank <em>owns</em> it now. <a href="http://www.zillow.com/search/RealEstateSearch.htm?addrstrthood=3+hidden+pass&citystatezip=92657">It's so new it doesn't even show up on Zillow yet</a>. Now, what I find interesting is that the Zestimates for those homes, including 4 Hidden Pass, are in the $2.5mil range, but no one bid on this for $1.6mil. The high-end is clearly not immune.
PadreBrian_IHB
New member
lol
EvaLSeraphim_IHB
New member
[quote author="graphrix" date=1211974873]Ut roh... 3 Hidden Pass is no longer hiding from the bank, the bank <em>owns</em> it now. <a href="http://www.zillow.com/search/RealEstateSearch.htm?addrstrthood=3+hidden+pass&citystatezip=92657">It's so new it doesn't even show up on Zillow yet</a>. Now, what I find interesting is that the Zestimates for those homes, including 4 Hidden Pass, are in the $2.5mil range, but no one bid on this for $1.6mil. The high-end is clearly not immune.</blockquote>
Wow... when the pros aren't picking them up for that, it really make me wonder what I can get if we wait longer.
Wow... when the pros aren't picking them up for that, it really make me wonder what I can get if we wait longer.
sell4u_IHB
New member
Updates. Prices are coming down, this is good.
3 Hidden Pass, no sell at auction 5/27/2008, REO time. I call it now, home sells between $1.4-$1.5m.
First NOD popped up on Seascape home in CC about week ago. The only NOD (or NOT) that I've seen in CC. Home is currently for sale.
19 Harcourt (Newport Ridge) Originally listed $2.8m(4/4/2006), close of escrow (5/27/2008) $1.8m. 35% off original list price.
3 Anacapri (Tesoro Villas) just closed at $1,587,500. No view.
3 Hidden Pass, no sell at auction 5/27/2008, REO time. I call it now, home sells between $1.4-$1.5m.
First NOD popped up on Seascape home in CC about week ago. The only NOD (or NOT) that I've seen in CC. Home is currently for sale.
19 Harcourt (Newport Ridge) Originally listed $2.8m(4/4/2006), close of escrow (5/27/2008) $1.8m. 35% off original list price.
3 Anacapri (Tesoro Villas) just closed at $1,587,500. No view.
justbrowsing_IHB
New member
[quote author="sell4u" date=1212017838]Updates. Prices are coming down, this is good.
3 Hidden Pass, no sell at auction 5/27/2008, REO time. I call it now, home sells between $1.4-$1.5m.
First NOD popped up on Seascape home in CC about week ago. The only NOD (or NOT) that I've seen in CC. Home is currently for sale.
19 Harcourt (Newport Ridge) Originally listed $2.8m(4/4/2006), close of escrow (5/27/2008) $1.8m. 35% off original list price.
3 Anacapri (Tesoro Villas) just closed at $1,587,500. No view.</blockquote>
Hi all,
Sorry to go a bit off topic. I like the Newport Coast area but I was wondering what you all thought about living close to the Coyote canyon landfill. I've brought this topic up in another <a href="http://www.irvinehousingblog.com/forums/viewthread/2292/">post</a>, but I wanted to hear some more opinions.
So more specifically, how many of you would have concerns living in 19 Harcourt, which appears to be part of <a href="http://www.newportcoast-homes.com/rivage.html">Rivage.</a>
The Rivage area reportedly had "potentially explosive levels" of methane in <a href="http://findarticles.com/p/articles/mi_hb5553/is_199812/ai_n22380313">1998</a> during construction,
and still had a "methane problem" in 2005.
Exact quote fromhttp://www.city.newport-beach.ca.us/NewportCoastAdvisoryCommitteeAgendas/2005/Minutes7-11-05.htm
is "There is no methane problem at the site, there is at Rivage, but not at the Center location."
I'm not trying to pick on methane, so what about all the other stuff in the landfill. It's not supposed to have industrial waste in it, but people throw all kinds of toxic stuff into their garbage. Could some of that seep into the surrounding neighborhoods, as in El Toro?
So at $1.8M (or WTF $2.8M), buying there isn't an option for me. But let's say at the bottom you could pick this place up for some low price, let's say 1.2M. Would you live there? What if you have young kids? Would you eat fruit grown in your backyard?
3 Hidden Pass, no sell at auction 5/27/2008, REO time. I call it now, home sells between $1.4-$1.5m.
First NOD popped up on Seascape home in CC about week ago. The only NOD (or NOT) that I've seen in CC. Home is currently for sale.
19 Harcourt (Newport Ridge) Originally listed $2.8m(4/4/2006), close of escrow (5/27/2008) $1.8m. 35% off original list price.
3 Anacapri (Tesoro Villas) just closed at $1,587,500. No view.</blockquote>
Hi all,
Sorry to go a bit off topic. I like the Newport Coast area but I was wondering what you all thought about living close to the Coyote canyon landfill. I've brought this topic up in another <a href="http://www.irvinehousingblog.com/forums/viewthread/2292/">post</a>, but I wanted to hear some more opinions.
So more specifically, how many of you would have concerns living in 19 Harcourt, which appears to be part of <a href="http://www.newportcoast-homes.com/rivage.html">Rivage.</a>
The Rivage area reportedly had "potentially explosive levels" of methane in <a href="http://findarticles.com/p/articles/mi_hb5553/is_199812/ai_n22380313">1998</a> during construction,
and still had a "methane problem" in 2005.
Exact quote fromhttp://www.city.newport-beach.ca.us/NewportCoastAdvisoryCommitteeAgendas/2005/Minutes7-11-05.htm
is "There is no methane problem at the site, there is at Rivage, but not at the Center location."
I'm not trying to pick on methane, so what about all the other stuff in the landfill. It's not supposed to have industrial waste in it, but people throw all kinds of toxic stuff into their garbage. Could some of that seep into the surrounding neighborhoods, as in El Toro?
So at $1.8M (or WTF $2.8M), buying there isn't an option for me. But let's say at the bottom you could pick this place up for some low price, let's say 1.2M. Would you live there? What if you have young kids? Would you eat fruit grown in your backyard?
EvaLSeraphim_IHB
New member
JB - Good call on wanting to get educated. Often, people will hear "landfill" and immediately think "<a href="http://yosemite.epa.gov/r9/sfund/r9sfdocw.nsf/webdisplay/oid-3591ff4691d8bf30882565d70083a6cd?OpenDocument">Stringfellow.</a>" I don't want to underplay any dangers, but I wouldn't want to overplay them either. Your best bets are to call the City, <a href="http://www.oclandfills.com/">the County Integrated Waste Management Board</a>, and the state <a href="http://www.ciwmb.ca.gov/">Integrated Waste Management Board</a>. The state oversees the process of closing landfills.
<a href="http://www.ciwmb.ca.gov/leaCentral/Closure/Restoration/CaseStudies/CoyoteCanyon.htm">Some basic info.</a>
<a href="http://www.ciwmb.ca.gov/Landfills/ComplyStudy/DB/SiteInfo.asp?ID=30-AB-0017">More.</a>
Also, if you drive by, you will note the presence of <a href="http://www.fortistar.com/fortistar_fmg.aspx">Gas Recovery Systems</a> (now part of Fortistar) at the site. I believe that they are capturing and recycling the methane or running a methane plant.
<a href="http://www.ciwmb.ca.gov/leaCentral/Closure/Restoration/CaseStudies/CoyoteCanyon.htm">Some basic info.</a>
<a href="http://www.ciwmb.ca.gov/Landfills/ComplyStudy/DB/SiteInfo.asp?ID=30-AB-0017">More.</a>
Also, if you drive by, you will note the presence of <a href="http://www.fortistar.com/fortistar_fmg.aspx">Gas Recovery Systems</a> (now part of Fortistar) at the site. I believe that they are capturing and recycling the methane or running a methane plant.
After reading some of the raves about the Tides at Crystal Cove on this thread, well Mrs cdm and I were driving past CC and I just had to take a look for myself.
OMG!!! I immediately assigned the wife the task of picking out a bank to knock over so we could afford one (she's an attorney, so she is quite good at this nefarious and underhanded thinking and planning). Then I realized that the taxes would be about $90k per year, and I don't think I have a bank job per year in me.
A few thoughts: Did anyone else think that the way they modeled the plan one was for a target single guy with more money than he knows what to do with (Master, plus one bedroom, plus casita)?
Also, did anyone else think that the plan 3 was a little chopped up, and didn't flow well?
I though that families would be most attracted to the plan 2, and car people everywhere rejoiced at the sight of the garage (my wife had visions of her long dreamed about tri Chevy dancing through her head - Do 32 year old female attorneys usually dream of tri Chevy's?).
Anyhow, at $7 mill and up, this project seems really expensive, especially since SeaPoint is selling at 40% less at about the same square footage just up the hill. I know that they did some pre-release sales at the Tides early last year. Does anyone know what the run rates have been since the troubles started in mid July last year? And how have the run rates been at SeaPoint? Also, what did they sell the final units for at Sea Crest?
I had asked a Laing Luxury rep about multi generational households at one time, and boy did she artfully not answer the question! A lot of the plans have optional second master suites, as well as some casitas with kitchenettes. Having this sort of arrangement means more traffic, as well as more cars parked on the street. Any idea how many homes are occupied by multi-generational families?
OMG!!! I immediately assigned the wife the task of picking out a bank to knock over so we could afford one (she's an attorney, so she is quite good at this nefarious and underhanded thinking and planning). Then I realized that the taxes would be about $90k per year, and I don't think I have a bank job per year in me.
A few thoughts: Did anyone else think that the way they modeled the plan one was for a target single guy with more money than he knows what to do with (Master, plus one bedroom, plus casita)?
Also, did anyone else think that the plan 3 was a little chopped up, and didn't flow well?
I though that families would be most attracted to the plan 2, and car people everywhere rejoiced at the sight of the garage (my wife had visions of her long dreamed about tri Chevy dancing through her head - Do 32 year old female attorneys usually dream of tri Chevy's?).
Anyhow, at $7 mill and up, this project seems really expensive, especially since SeaPoint is selling at 40% less at about the same square footage just up the hill. I know that they did some pre-release sales at the Tides early last year. Does anyone know what the run rates have been since the troubles started in mid July last year? And how have the run rates been at SeaPoint? Also, what did they sell the final units for at Sea Crest?
I had asked a Laing Luxury rep about multi generational households at one time, and boy did she artfully not answer the question! A lot of the plans have optional second master suites, as well as some casitas with kitchenettes. Having this sort of arrangement means more traffic, as well as more cars parked on the street. Any idea how many homes are occupied by multi-generational families?
SacRenter_IHB
New member
Bumping this back up to see what is happening in the 'coast.
A few properties have popped up in the MLS lately that look interesting. Pelican Crest is the area that fascinates me the most. <strong> IR, IR2 </strong>and others - what are your thoughts on what's happening there in the custom built high end world?
A few properties have popped up in the MLS lately that look interesting. Pelican Crest is the area that fascinates me the most. <strong> IR, IR2 </strong>and others - what are your thoughts on what's happening there in the custom built high end world?
Most landfills are MSWs. Municipal Solid Waste Landfills. These are Class III landfills. Class I is the hazardous waste landfills. I think there are only 2 left in CA. Stringfellow is a Superfund site as most bases are immediately after they close. Class III landfills only accept household waste. That does not stop people from dumping and hiding stuff in their garbage though. Methane starts to generate several years after waste is placed due to the decomposition of the organic material. Only about half the gas is methane, the other gases generated is a mishmash of stuff. Leachate is also generated. Think of the liquid from a pile of garbage, that is leachate. The gas plant means an active recovery system versus passive where they vent to the atmosphere. Landfills have monitoring wells located 1000 feet around the perimeter. These are regularly sampled to show any migration of groundwater plumes or gases.
I would be more worried about the bases since the military was not as strict about dumping or spilling jet fuel into the ground. Landfills are likely safer bets. Not that I would live too close to one.
I would be more worried about the bases since the military was not as strict about dumping or spilling jet fuel into the ground. Landfills are likely safer bets. Not that I would live too close to one.