Woodbury Comp Killer

NEW -> Contingent Buyer Assistance Program
irvinehomeowner said:
I think this is the lowest I've seen a Rosemoor Plan 1 go for... $725k:
http://www.redfin.com/CA/Irvine/247-Vintage-92620/home/5950561

There are 2 more pending:

$725khttp://www.redfin.com/CA/Irvine/64-Logan-92620/home/5958733

$755khttp://www.redfin.com/CA/Irvine/22-Bungalow-92620/home/5950549

... and 1 for sale at $898k:http://www.redfin.com/CA/Irvine/24-Gazebo-92620/home/5958705

I'm not too sure 2009 was the low.
Click to expand...
There's a reason why that floor plan traded so low, it's very weird and unappealing IMO.
 
No den/loft but it does have multiple living spaces downstairs:

33vyxao.jpg

(floorplan courtesy of IrvineRealtor)

I'm not fond of the rear set garage and narrow driveway. But it is a 2400sft newer SFR and regardless of the floorplan, I don't think any Rosemoor model has traded this low... these all sold for around mid $900ks back in 2005.
 
After I put my Chinkordian magnifying glasses on - these "low" comps are no surprises:
1. Too close to major roads, such as Irvine Blvd or Jefferey.
2. Woodbury Elementary, one of the worst elementary schools in IUSD
3. Irvine HS, the worst HS in Irvine, even worse than Beckman.
4. Woodbury Walk and the Arbor dragging the whole community down

If Crampbury does not have the amenities and the newness, it will be no different than other Irvine ghettos such as College Park, El Camino Real, Deer Field, Orange Tree..etc.
 
The Motor Court Company said:
After I put my Chinkordian magnifying glasses on - these "low" comps are no surprises:
1. Too close to major roads, such as Irvine Blvd or Jefferey.
2. Woodbury Elementary, one of the worst elementary schools in IUSD
3. Irvine HS, the worst HS in Irvine, even worse than Beckman.
4. Woodbury Walk and the Arbor dragging the whole community down

If Crampbury does not have the amenities and the newness, it will be no different than other Irvine ghettos such as College Park, El Camino Real, Deer Field, Orange Tree..etc.
Click to expand...

Sure, but you would have no problem with any of that and wouldn?t hesitate buying there if prices were ?cheaper? or more affordable for you.
Same with Lambert Ranch, Portola Springs, and LA all of which you seem to enjoy criticizing. 
 
Anyone actually like these long narrow floorplans?  I don't see any benefit unless it's in NY metro. 
 
WoodburyDad said:
The Motor Court Company said:
After I put my Chinkordian magnifying glasses on - these "low" comps are no surprises:
1. Too close to major roads, such as Irvine Blvd or Jefferey.
2. Woodbury Elementary, one of the worst elementary schools in IUSD
3. Irvine HS, the worst HS in Irvine, even worse than Beckman.
4. Woodbury Walk and the Arbor dragging the whole community down

If Crampbury does not have the amenities and the newness, it will be no different than other Irvine ghettos such as College Park, El Camino Real, Deer Field, Orange Tree..etc.
Click to expand...

Sure, but you would have no problem with any of that and wouldn?t hesitate buying there if prices were ?cheaper? or more affordable for you.
Same with Lambert Ranch, Portola Springs, and LA all of which you seem to enjoy criticizing.
Click to expand...

I'm not sure that snark is a fair counter-point. Isn't any buyer purchasing decision based on maximizing utility?

What laymen refer to as "value" is really just a cognitive model of utility involving qualitative factors. For example, I may love a brand new 458 Ferrari Italia, but at $275,000 a pop new, it may not be great "value" for me. However, a lightly used, 5 years older, Ferrari 430 going for half the price might be something I might purchase because I am trying to maximize my utility (i.e - good enough for my purpose based on the money).
 
IndieDev said:
WoodburyDad said:
The Motor Court Company said:
After I put my Chinkordian magnifying glasses on - these "low" comps are no surprises:
1. Too close to major roads, such as Irvine Blvd or Jefferey.
2. Woodbury Elementary, one of the worst elementary schools in IUSD
3. Irvine HS, the worst HS in Irvine, even worse than Beckman.
4. Woodbury Walk and the Arbor dragging the whole community down

If Crampbury does not have the amenities and the newness, it will be no different than other Irvine ghettos such as College Park, El Camino Real, Deer Field, Orange Tree..etc.
Click to expand...

Sure, but you would have no problem with any of that and wouldn?t hesitate buying there if prices were ?cheaper? or more affordable for you.
Same with Lambert Ranch, Portola Springs, and LA all of which you seem to enjoy criticizing.
Click to expand...

I'm not sure that snark is a fair counter-point. Isn't any buyer purchasing decision based on maximizing utility?

What laymen refer to as "value" is really just a cognitive model of utility involving qualitative factors. For example, I may love a brand new 458 Ferrari Italia, but at $275,000 a pop new, it may not be great "value" for me. However, a lightly used, 5 years older, Ferrari 430 going for half the price might be something I might purchase because I am trying to maximize my utility (i.e - good enough for my purpose based on the money).
Click to expand...

Cute Kid Indie.. yours?
 
Indie is back!  Hooray :)

I think that snark response is valid because Motor Court isnt saying its overpriced but bashing them constantly.  Your ferrari example would be more accurate if you went on all the ferrari boards and said how shitty of a car it was constantly.  Many folks here are pissed at the pricing but take it out on the communities.  Maybe they can afford or maybe they cant but no need to bash the communities to make themselves feel better about the price being too high. 
 
@Homer: I can neither confirm, nor deny that! (for security purposes of course)

@rkp:
I haven't been reading Motor Courts post about Woodbury recently, but he did preface his post with:

After I put my Chinkordian magnifying glasses on - these "low" comps are no surprises
Click to expand...

... which lead me to believe he was listing reasons for why these Woodbury models are trading below what some people might expect them to transact at which is what most buyer/purchasing decisions come down to as I explained previously. Sure he did have some humorous (but true) commentary about the ghettos of Irvine, and how Woodbury is a high density community, but I don't know how they could be seen as personally offensive to anyone unless you emotionally are attached to Woodbury for some reason.

Does it bother you when people say "Crampbury" or "Landfill Ranch"? Why?
 
Indie got my point - according to one executive of the New Home Company, 70% of their new home buyers are from some kind of Asian origin.
Being familiar with that demographic, I am just pointing out that from their perspective the Woodbury schools are inferior and they would rather prefer buy somewhere else. 
Some don't like their kids to hang out with "brown" skinned kids or those who are living off from section 8.
Asians buyers also care a lot of about location and tend to stay from houses that are backed to a major street.
 
I am balanced. Woodbury's amenities are top-notch and the overall design is excellent despite the slightly higher density. It is an A village. The only knock are the schools. When you take your homeowner glasses off you can clearly see Northwood Pointe and Turtle Ridge are doing much better than Woodbury.

WoodburyDad said:
The Motor Court Company said:
After I put my Chinkordian magnifying glasses on - these "low" comps are no surprises:
1. Too close to major roads, such as Irvine Blvd or Jefferey.
2. Woodbury Elementary, one of the worst elementary schools in IUSD
3. Irvine HS, the worst HS in Irvine, even worse than Beckman.
4. Woodbury Walk and the Arbor dragging the whole community down

If Crampbury does not have the amenities and the newness, it will be no different than other Irvine ghettos such as College Park, El Camino Real, Deer Field, Orange Tree..etc.
Click to expand...

Sure, but you would have no problem with any of that and wouldn?t hesitate buying there if prices were ?cheaper? or more affordable for you.
Same with Lambert Ranch, Portola Springs, and LA all of which you seem to enjoy criticizing.
Click to expand...
 
That is how I see it too. It is the new makeover version of El Camino.


The Motor Court Company said:
After I put my Chinkordian magnifying glasses on - these "low" comps are no surprises:
1. Too close to major roads, such as Irvine Blvd or Jefferey.
2. Woodbury Elementary, one of the worst elementary schools in IUSD
3. Irvine HS, the worst HS in Irvine, even worse than Beckman.
4. Woodbury Walk and the Arbor dragging the whole community down

If Crampbury does not have the amenities and the newness, it will be no different than other Irvine ghettos such as College Park, El Camino Real, Deer Field, Orange Tree..etc.
Click to expand...
 
got it motorcourt - that makes sense.  i think woodbury elem being bad isnt too big of a deterrent as elem schools can change quickly and with all the asians moving in and their focus on education, the schools scores should go up. 

northwood pointe is very nice and has similar price points to woodbury but feels disjointed with all the smaller communities behind gates.  and turtle ridge isnt a valid comparison as its just much more expensive than WB
 
I always see knocks on Woodbury Elem... even some people saying they moved their kids to Stonegate Elem. But the only person I've talked to about it says it's great and they love the year-round schedule.

Do any of the Woodbury owners here have kids who go that school so we can get a better idea of how it is?
 
irvinehomeowner said:
I always see knocks on Woodbury Elem... even some people saying they moved their kids to Stonegate Elem. But the only person I've talked to about it says it's great and they love the year-round schedule.

Do any of the Woodbury owners here have kids who go that school so we can get a better idea of how it is?
Click to expand...

Yeah, it?s horrible, don?t fall into the trap.
Move to someplace cheaper and send your kids to private school. ;)
 
I know some guy who rents at Woodbury but insist sending his kids to Stonegate or other elementary schools whenever possible. Woodbury Elem was formerly El Camino Elementary that explains why it is ranked so low. El Camino is one of the Irvine ghettos that rich Asians are staying away.

Like I said in the past, when equity is at risk, Woodbury owners will tell you the school is top notch. I'd trust the opinions of people who have no skin in the game - renters or prospective buyers who haven't settled yet.

irvinehomeowner said:
I always see knocks on Woodbury Elem... even some people saying they moved their kids to Stonegate Elem. But the only person I've talked to about it says it's great and they love the year-round schedule.

Do any of the Woodbury owners here have kids who go that school so we can get a better idea of how it is?
Click to expand...
 
The Motor Court Company said:
Like I said in the past, when equity is at risk, Woodbury owners will tell you the school is top notch. I'd trust the opinions of people who have no skin in the game - renters or prospective buyers who haven't settled yet.
Click to expand...
While that sounds reasonable... I don't know how realistic that is.

If my kid is getting a poor education... I'm going to say something... regardless of equity. The point is to improve the situation and make sure my school improves if I'm really concerned about "neighborhood value".

People ask us why we moved one of our kids back to private and I'm not shy to say about what I think of our school. I would think the FCBs would put the value of their children's education above the value of their home.
 
  • Like
Reactions: rkp
You must log in or register to reply here.
Back
Top