Sheldon at Greenwood

Ready2Downsize said:
I wouldn't purchase for either of those purposes.

If someone wants to rent with kids they are going to look at where the kids go to school. They can rent in Tustin Ranch or Irvine.

If they are purchasing a resale they are going to look at taxes, HOA and schools.

Just because the builder can sell them doesn't mean they are good for selling even higher down the road.
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I'd like my kids to live close to me, yes. They know they can move back in to my house any day and I'll cover all expenses but two have their own house and the other one couldn't get a job as a teacher here when the economy went south so she moved out of state. She's working on getting enough time in to be able to go back there if she chooses and maybe she'll move back to So Cal. If she does, she can have the entire upstairs to herself, full kitchen privileges and no rent or utilities.

If I were buying her a house I would buy a smaller place in Irvine or resale in Tustin Ranch.

I've been thru several down cycles and location, location, location. Lots of rentals come on the market when people can't sell.
 
Ready2Downsize said:
I wouldn't purchase for either of those purposes.

If someone wants to rent with kids they are going to look at where the kids go to school. They can rent in Tustin Ranch or Irvine.

If they are purchasing a resale they are going to look at taxes, HOA and schools.

Just because the builder can sell them doesn't mean they are good for selling even higher down the road.
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Ive seen some tracts in Tustin ranch that have almost doubled in value since purchased new 10 years ago (600k new going for 1.2M resale)....not saying these here will but in general real estate prices have been on the rise...resales arent even cheap nowadays, forclosures even worse, so was thinking might as well buy new and see.

I know TL isnt TR but is that THAT different? still the same city...i mean the sheer number of people trying snatch these lots up is insane.

a few yrs ago i was looking to buy a new tract in YL by Shea...same specs as the sheldons and it was going for 575k-630k....checked recently and the resales there are going for north of 800k..kickin myself for not jumping in at the time....just in under 5 years...wondering the potential for TL for something like this
 
I know a lot of people claim that FCB can't hurt our market if it becomes a buyers market but here's some food for thought.......... what if those same FCB also had significant amount of money in the stock market and it went south. What if they started getting margin calls and they couldn't keep buying houses here or if they had to sell off some of their properties here? What would that do to the Irvine housing market? If Irvine drops, Tustin is not going to hold up because people will buy/rent in Irvine.

Not saying any of this will happen, but it could and if houses come down basically the areas that were propped up by FCB, the fed isn't going to stop raising rates which will only make houses more unaffordable here, exasperating the problem.

So you say, then rentals will be good but not so fast............ lots of rentals start popping up. Flippers couldn't get out, divorces or other issues and people say well we can't get out even, we'll rent it out for a year or two.

Just some food for thought........... FCB were responsible for the prices here and they own a lot of properties here.
 
Yes, if it's for long term primary, makes the most sense (to me anyways), if you like the layout, central location, newness, etc
 
qwerty said:
Ready2Downsize said:
Just because the builder can sell them doesn't mean they are good for selling even higher down the road.
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then who is buying now?
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Going to take a wild guess and say DINKS, parents who don't care where their kids go to school, investors (first few phases) or messicans.
 
Ready2Downsize said:
I know a lot of people claim that FCB can't hurt our market if it becomes a buyers market but here's some food for thought.......... what if those same FCB also had significant amount of money in the stock market and it went south. What if they started getting margin calls and they couldn't keep buying houses here or if they had to sell off some of their properties here? What would that do to the Irvine housing market? If Irvine drops, Tustin is not going to hold up because people will buy/rent in Irvine.

Not saying any of this will happen, but it could and if houses come down basically the areas that were propped up by FCB, the fed isn't going to stop raising rates which will only make houses more unaffordable here, exasperating the problem.

So you say, then rentals will be good but not so fast............ lots of rentals start popping up. Flippers couldn't get out, divorces or other issues and people say well we can't get out even, we'll rent it out for a year or two.

Just some food for thought........... FCB were responsible for the prices here and they own a lot of properties here.
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That's a very valid point.  The Chinese stock market is in a huge bubble right now and it is destined to pop.

It's hard to predict the overall affect to the local market here, but I've feeling we will see some price-to-sell-now home on the market if their stock bubble pops.

 
You just never know. As long as you're buying a house that you can afford now and have enough in the bank to cover a few months payments in case something happens to one or both income earners and are fine living in it (ok with the schools you would use now or in the future and have a big enough house) you'll be fine even if the market were to come down.

Been there three times myself and saw some pretty sad situations. Luckily my "losses" were on paper and I was fine living in my house.

It's those who think they'll buy and sell in x amount of time because this is only a short term buy and they anticipate making a profit, flippers buying a house they have no intention on living in or are stretched buying who end up sweating in a down market.
 
lnc said:
Ready2Downsize said:
I know a lot of people claim that FCB can't hurt our market if it becomes a buyers market but here's some food for thought.......... what if those same FCB also had significant amount of money in the stock market and it went south. What if they started getting margin calls and they couldn't keep buying houses here or if they had to sell off some of their properties here? What would that do to the Irvine housing market? If Irvine drops, Tustin is not going to hold up because people will buy/rent in Irvine.

Not saying any of this will happen, but it could and if houses come down basically the areas that were propped up by FCB, the fed isn't going to stop raising rates which will only make houses more unaffordable here, exasperating the problem.

So you say, then rentals will be good but not so fast............ lots of rentals start popping up. Flippers couldn't get out, divorces or other issues and people say well we can't get out even, we'll rent it out for a year or two.

Just some food for thought........... FCB were responsible for the prices here and they own a lot of properties here.
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That's a very valid point.  The Chinese stock market is in a huge bubble right now and it is destined to pop.

It's hard to predict the overall affect to the local market here, but I've feeling we will see some price-to-sell-now home on the market if their stock bubble pops.
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I thought the FCB are putting their money in US real estate as a safe guard against the rising bubble? I've heard this is their hedging strategy because many FCB fell the US economy is more stable than what is happening in Asia right now. So if the Asian markets pop, alot of the FCB feel it will, at least a % of their accumulated wealth is safe.
 
So prices jumped up ~$20K between phase 1 and phase 2. Can they sustain these kind of increases through the later phases?
 
shooby said:
So prices jumped up ~$20K between phase 1 and phase 2. Can they sustain these kind of increases through the later phases?
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Probably not.  Historically in this area, the price increases will level off mid buildout.
 
shooby said:
So prices jumped up ~$20K between phase 1 and phase 2. Can they sustain these kind of increases through the later phases?
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They'll keep moving up the prices as long as there are huge lines of people at phase releases willing to buy...same thing happened at The Knolls at Baker Ranch.  The builders are good at finding the market price equilibrium. 
 
Next phase pricing "starting at $735,000" a $39K jump from the starting price of the second phase. These prices getting ridiculous.
 
shooby said:
Next phase pricing "starting at $735,000" a $39K jump from the starting price of the second phase. These prices getting ridiculous.
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30k jump each release. So by the last phases these houses will be selling for $1m?  Should just skip these and go for Staffords now then? Or try to get in now at 735k  and flip them for 1m+ when all have been sold?
 
estrader said:
shooby said:
Next phase pricing "starting at $735,000" a $39K jump from the starting price of the second phase. These prices getting ridiculous.
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30k jump each release. So by the last phases these houses will be selling for $1m?  Should just skip these and go for Staffords now then? Or try to get in now at 735k  and flip them for 1m+ when all have been sold?
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Are you kidding me?
You will most like see better appreciation at Beacon P.
 
I will have a great Verandas Plan 3 listing (2,400sf with 4 bedrooms and 3 baths) coming up in a few days...pricing will look like a steal compared to where the Sheldon prices are.  Stay tuned.  ;)
 
eyephone said:
estrader said:
shooby said:
Next phase pricing "starting at $735,000" a $39K jump from the starting price of the second phase. These prices getting ridiculous.
Click to expand...

30k jump each release. So by the last phases these houses will be selling for $1m?  Should just skip these and go for Staffords now then? Or try to get in now at 735k  and flip them for 1m+ when all have been sold?
Click to expand...

Are you kidding me?
You will most like see better appreciation at Beacon P.
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Who knows how much if any prices have gone up. Stan Pac preplotted options and tacked those onto the price. Price sheet shows options they added on.
 
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