Tustin Field II

<p>Not sure which one will work:</p>

<p>http://homes.realtor.com/search/searchresults.aspx?mlslid=S488072&typ=7</p>

<p></p>

<p>http://homes.realtor.com/search/listingdetail.aspx?mlslid=S488072&typ=7&sid=94180c998d5644c6b8f5241e39c0dc47&lid=1081117358&lsn=1&srcnt=1#Detail</p>
 
<p>Looks like MLS #S482702 is chasing the other home down with a 200k reduction on 5/21/07! These are newly built (2005) with over 3000 sq ft and IUSD homes for less than a mil. </p>

<p>Why buy new when you can get one with the landscaping all done and barely lived in? Plus I think Laing is one of the better builders, based on JD Power (whatever that's worth).</p>

<p>I think this part of the base was orginally staff housing, that's why it was built first (less cleanup).</p>

<p>http://homes.realtor.com/search/searchresults.aspx?mlslid=S482702&typ=7</p>
 
This home is not a short sale or bank sale. It is owned by a well known agent listing her own. The home is very upgraded and has 3,300 sq. ft. That is $303/sq. ft. It's a great buy for someone. Sounds like there is nothing negative about it.
 
It looks like a very nice home. But, I don't think it's a great buy during a downtrending market which will probably cause this home to lose 10% of it's value in the following year, and maybe more after that. That sounds like a huge negative to buying any home, including this one, right now.
 
Seller already lost 10%? Ouch! I wonder if someone was telling them it was a great buy when they bought it?
 
Does anyone think something is fishy here with the closing of these 2 listings within Tustin Field II?





Both closed on same day, same broker (same mispellings), sold at 30-40% premium to current market price.


Both homes never had a for sale sign in their front yard. Nor did anyone move in or out. (I live in the area).





P561830 sat empty for months. I believe it was purchased by owners of P561550.





Check it out for yourself:


MLS: P561550 and P561830


http://www.crystalfunding.com/tustin-homes-for-sale/1466-voyager/listing-P561550


http://www.crystalfunding.com/tustin-homes-for-sale/1470-voyager-drive/listing-P561830








I smell some fraud going on.... or they got very lucky and found 2 of the dumbest people on earth to buy their homes at hyper-inflated prices. BTW, these 2 homes sold for about $1.1M in Sept. 2005.




 
<p>Sounds fishy to me. Do you know when they closed? I can look into it if it has been more than two weeks ago.</p>
 
<p>Hi everyone,</p>

<p>i'm a long time reader and first time poster. I find this blog incredibly informative as I am looking for a house in the Irvine School district within the next few years. I have driven through Tustin Field and it seems like the whole area reeks of fraud and speculative buying. It seem like every other house is for sale. One would think that these guys are desperate to sell, yet out of curiosity I've called several of these realtors and left my name and #; yet no one has responded. How incredible is that? Secondly, it seems like the listing price on these homes go <strong>up</strong> and down for no apparent reasons. Do you guys think that these are somehow tactics that allow them to commit fraud, without detection?</p>
 
<p>This link summarizes what's happening in Tustin Field II:</p>

<p>http://www.nctimes.com/articles/2007/06/03/news/top_stories/22_42_166_2_07.txt</p>
 
thanks optimus, that was an excellent article. Do you think alot of these aren't interested in selling to real buyer at all? they're waiting to do a "straw deal" but only listing to make it look legitimate. Additionally, they raise and lower their prices haphazardly to make it difficult to prove a fraud case?
 
<p>almost there,</p>

<p>are you renting in the area? if so where? and what do you think of the area in general. Noise a problem? with trains and John Wayne flights? Jamboree? I've had thoughts about snatching one of these homes when the price is right but have concerns about noise and smog from Jamboree. Please advise.</p>
 
I own one of the overpriced homes in Tustin Field II -- where's my strawman?? haha. If I had to do it over (in my dreams), I would not buy in TF II.





I'll answer your questions before I list my reasons.





<strong>Noise: </strong> Not really a concern, since the house is well insulated from any noise intrusion from trains, planes and autos. Many people ask about the train, but that's a non-issue from this neighborhood. I used to live in Harvard Square (just down the street on Harvard/Walnut) and I couldn't hear the trains either. Perhaps if you were living closer to the tracks in Tustin Field I or Park Lane developments - noise could be an issue.


<strong>


Jamboree: </strong> From my standpoint, I can't hear much road traffic either. Of course, when another 2000 homes are built on the Jamboree corridor along with the build out of the shopping center (The District), I'd worry more about the traffic. It'll be seen whether Jamboree will be clogged up or not. Sometimes, I have to take the 405 in the morning, and at around 8AM - it has taken me 30 minutes just to get to the freeway itself! So, forget the noise, worry about the traffic!!!





Now, for my reasons of disliking TF II, Columbus Square/Grove area -- prices notwithstanding:





<strong>Parking:</strong> In many of the developments, parking is restricted to one side of the street due to narrow lanes (fire codes). So, you can imagine not being able to park in front of your own homes. I'm lucky that I live on a wider street with 2-sided parking, but most of the streets are restricted to single-side parking. I was so accustomed to the large wide streets that Irvine is known for... until now.


<strong>


Affordable Housing: </strong> About 1/3 of TF II is affordable housing. Which makes for some unruly neighbors. Sad to say, but there is a difference between someone paying $1M for a home and the neighbor across the street paying $100K for their home (albeit a home 1/2 the size). Nonetheless, pride of ownership is lacking. This situation has brought families with way too many people living in the homes with too many cars. Thus, causing parking problems for everyone. Because these affordable homes are smaller and lacking storage space, most folks prefer to use their garage for storing things and without a driveway, they park on the streets. It's just a pet peeve every time I enter the neighborhood and there are cars lined up and down the streets making it more apartment-like than SFRs. I guess ppl are bringing their apartment mentality (i.e no-pride of ownership) into a SFR neighborhood.





A better deal would be Harvard Square, if you don't mind buying a slightly older home. Most were built in 1997-1999. These homes range from 1750 SF to about 3400 SF. The development is gated, with a private park (great for kids), wide streets, pride of ownership and a great sense of community among the residents. I guess, when homes prices rebound in 5 or 6 years, we would look to get out of TF II and back to Harvard Square for its peace and tranquility -- something that doesn't exist in the higher density neighborhoods of Columbus Sq/Gr or Tustin Field II.





Regardless of what happens.... buying a home should not be in your mind for another 3 or 4 years! unless you can find one in TF II for $600K.





My 2 cents for what it's worth... probably 1 cent.
 
thanks so much for your honesty almost-there. i have only driven through there in the day time and thus have not noticed the parking problem. you're right I'm not looking all that seriously, knowing that the pricing is not right for me at this time; however, it's always a good idea to know current market condition, just in case a good deal pops up.
 
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