The Branches - New homes in Woodbridge (Alderwood) by William Lyon

[usctrojancpa]

lol...  who is going to spend 3900 on rent???

So you get around $4k in rent for a home that cost $1.1m-$1.2m (my house that I'm in for around $600k rents would rent out for $3k)....they must be hoping for appreciation because that is a horrible cash-on-cash return once you factor in vacancy, R&M, and opportunity cost of capital.  I can make that kind of return in a month without having to be a landlord.

That's spot on.  The folks who think this is a great return are the same ones who keep thousands in gold coins in their closets as investments.

The other negative is that they are essentially buying the best house in the neighborhood outside of the Yale Loop...when you do that the only place to go for the price is down.  You want to buy a less desirable house on the block and bring it back up in price with upgrades to make it one of the best homes on the block.  No kind of appreciation beats sweat equity appreciation. 

 

[test]

lol...  who is going to spend 3900 on rent???

So you get around $4k in rent for a home that cost $1.1m-$1.2m (my house that I'm in for around $600k rents would rent out for $3k)....they must be hoping for appreciation because that is a horrible cash-on-cash return once you factor in vacancy, R&M, and opportunity cost of capital.  I can make that kind of return in a month without having to be a landlord.

That's spot on.  The folks who think this is a great return are the same ones who keep thousands in gold coins in their closets as investments.

The other negative is that they are essentially buying the best house in the neighborhood outside of the Yale Loop...when you do that the only place to go for the price is down.  You want to buy a less desirable house on the block and bring it back up in price with upgrades to make it one of the best homes on the block.  No kind of appreciation beats sweat equity appreciation. 

Exactly right. The key consideration here is from an ROI standpoint, it is always better to have the least desirable home in a desirable neighborhood than the most desirable home in a non-desirable neighborhood.

How about the most desirable home in a desirable neighborhood.

 

[usctrojancpa]

It would be hard to buy that at a discount.  Its desired by all, after all 

Here's the best example of that....got bid up about $350k above asking price and ended up at over $700/sf. 
http://www.redfin.com/CA/Irvine/12-Shoreline-92614/home/4692606

 

[test]

It would be hard to buy that at a discount.  Its desired by all, after all 

Here's the best example of that....got bid up about $350k above asking price and ended up at over $700/sf. 
http://www.redfin.com/CA/Irvine/12-Shoreline-92614/home/4692606

Million dollar fridge for a million dollar home.

 

[irvinehomeowner]

Correction: $2 million dollar home... crazy.

 

[jamboreedude]

It would be hard to buy that at a discount.  Its desired by all, after all 

Here's the best example of that....got bid up about $350k above asking price and ended up at over $700/sf. 
http://www.redfin.com/CA/Irvine/12-Shoreline-92614/home/4692606

Million dollar fridge for a million dollar home.

that's a cheap sh*t fridge you can get from lowes/depot off the floor clearance. a million dollar home using that kind of old fashion fridge. what a joke

 

[iacrenter]

It would be hard to buy that at a discount.  Its desired by all, after all 

Here's the best example of that....got bid up about $350k above asking price and ended up at over $700/sf. 
http://www.redfin.com/CA/Irvine/12-Shoreline-92614/home/4692606

Million dollar fridge for a million dollar home.

that's a cheap sh*t fridge you can get from lowes/depot off the floor clearance. a million dollar home using that kind of old fashion fridge. what a joke

LOL...you guys are funny. I have a feeling the buyer didn't pay $2M because he loved the kitchen appliances.

 

[irvinehomeshopper]

I unless its a built-in, refrigerators are considered personal property and not part of the house.

I guess the seller could include it... maybe the new owner moves it to the garage to keep their stash of frozen corn dogs?

Nice Ihop

 

[Chairman]

How are the homes in the Branches selling? Anyone know? They were really overpriced imo.

 

[rube77]

I heard sold out or nearly sold out.

 

[irvinehomeowner]

How are the homes in the Branches selling? Anyone know? They were really overpriced imo.

I believe they have released their last phase and will be selling the model homes.

We actually looked at these despite my misgivings over price, zero lot line on one side, no 3CWG and smallish lots. The no MRs made me look.

 

[Chairman]

How are the homes in the Branches selling? Anyone know? They were really overpriced imo.

I believe they have released their last phase and will be selling the model homes.

We actually looked at these despite my misgivings over price, zero lot line on one side, no 3CWG and smallish lots. The no MRs made me look.

The MR was definitely a draw but they ended up baking it into the higher price. Why would you want to pay for that up front? In any case, I am glad I did not end up buying there. I saw the end result and it looked less than stellar. Sorry to anyone who bought there but that is just my opinion.

 

[irvinehomeowner]

It's squishy in there.

The nice thing is they have lots of windows, but on the first floor you see nothing but wall and on the 2nd floor you see nothing but your neighbors windows.

It would have been good for the property values if I moved in obv.

 

[test]

3 homes on redfin
http://www.redfin.com/CA/Irvine/89-Shadowbrook-92604/home/51583575http://www.redfin.com/CA/Irvine/88-SHADOWBROOK-92604/home/49744416http://www.redfin.com/CA/Irvine/68-Shadowbrook-92604/home/50773522

 

[irvinehomeowner]

One would think that 88 Shadowbrook would be FCB'ed by now.

 

[Chairman]

3 homes on redfin
http://www.redfin.com/CA/Irvine/89-Shadowbrook-92604/home/51583575http://www.redfin.com/CA/Irvine/88-SHADOWBROOK-92604/home/49744416http://www.redfin.com/CA/Irvine/68-Shadowbrook-92604/home/50773522

Are these the models?

 

[irvinehomeowner]

From what I can remember, they are not.

88 or 89 is a on a bigger lot but it's shaped weird, I think 68 is a corner lot?

 

[furioussugar]

Got an email yesterday that they only have 1 home left to sell-  a plan 3 backing to the park. 

 

[ps99472]

https://www.redfin.com/CA/Irvine/113-Shadowbrook-92604/home/51682440

$1.4 for a 4000 sq ft lot and cramped into that narrow area in Woodbridge.  I feel less claustrophobic with the townhomes around the area than these homes.  Still, a decent yard for a new build, just in a crowded community.

 

[usctrojancpa]

Outside Yale Loop = no care!