Woodbury East Opening July 11, 2009

[reason_IHB]

Back in 2005, William Lyon also sold attached condos in Woodbury. And with each phase, the price increased by 3k. There were some 20 phases. The buyers of the last few phases paid dearly. It'll be interesting what the price increase will be on this 2nd phase at the Ivy.

 

[bkshopr_IHB]

I hope Slow, Blue, and 818 will come back soon to talk more about their preference for Ivy.

 

[asianinvasian_IHB]

Who is buying Irvine’s newest homes?

http://irvinehomes.freedomblogging.com/2009/07/31/who-is-buying-irvines-newest-homes/

 

[Blueberry_IHB]

What is going to prevent Woodbury East from not having similar destiny? West Irvine is for sure less dense and does not have an apartment project occupying a large chunk of the community. Mello Roo and property tax is substantially less than Woodbury East and after the tax implication you might actually save money to offset the 70k cost.

Are you in love with the plan or just the price? I don't see much redeeming features in the plan or may be I am missing something great. I went back to study the plans and I can't find the attraction. Please share with me so I can learn something to apply to my future floor plan analysis.

Woodbury East might have a similar destiny as West Irvine, but that's actually OK; West Irvine is not that bad, just older. Mello Roos and HOA might offset the cheaper price, but you get new.

Concerning the plan: there is nothing really spectacular but plan C has what I need.

Good:

2 stories; little patio (no backyard to maintain), upstairs loft for computer; 3 bedrooms are real bedrooms (not a den counting as bedroom);

tot lot and pool near by

Bad: I wish living room would be larger; Fireplace and media niche are not useful (but optional anyway)

 

[Blueberry_IHB]

TIC will be very cautious to set the appropriate amount for price increase. TIC's primary goal is to send a signal out to buy ASAP before the prices increase again. The amount has to be encouraging for the phase 1 buyers psychologically for making a great decision but not to discourage the phase 2 buyers from acting immediately. I am actually helping TIC out by posting my guess of $2,000 so the price setter can gauge his or her decision based on IHBers' reaction.

I posted this before and I will reiterate again. Asian buyers primarily Chinese are creating this buying frenzy.

Your guess is way off. C: 440 K (+12K), B: 395K (+5K)

 

[ABC123_IHB]

What is Irvine going to do when it runs out of land to build new houses for the Asians? I thought that the person who suggested bulldozing University Park was a troll, but maybe he actually works for the Irvine Company.

 

[slowcooker_IHB]

I hope Slow, Blue, and 818 will come back soon to talk more about their preference for Ivy.

The majority of the resaon why I am picking IVY is because of the price and the neighborhood is decent. I understand its a bit small for a family, but for two people it suffiant enough for a while. I am not planing to live at IVY for the rest of my all but it is good enough for me as a starter house.

I also understand the MR and HOA are higher then most then older place, but when it comes down it's a place I like and call it my home.

BK hope that answerd your question

 

[slowcooker_IHB]

TIC will be very cautious to set the appropriate amount for price increase. TIC's primary goal is to send a signal out to buy ASAP before the prices increase again. The amount has to be encouraging for the phase 1 buyers psychologically for making a great decision but not to discourage the phase 2 buyers from acting immediately. I am actually helping TIC out by posting my guess of $2,000 so the price setter can gauge his or her decision based on IHBers' reaction.

I posted this before and I will reiterate again. Asian buyers primarily Chinese are creating this buying frenzy.

Your guess is way off. C: 440 K (+12K), B: 395K (+5K)

Blue are these your guesses for the phase II prices?

 

[Blueberry_IHB]

TIC will be very cautious to set the appropriate amount for price increase. TIC's primary goal is to send a signal out to buy ASAP before the prices increase again. The amount has to be encouraging for the phase 1 buyers psychologically for making a great decision but not to discourage the phase 2 buyers from acting immediately. I am actually helping TIC out by posting my guess of $2,000 so the price setter can gauge his or her decision based on IHBers' reaction.

I posted this before and I will reiterate again. Asian buyers primarily Chinese are creating this buying frenzy.

Your guess is way off. C: 440 K (+12K), B: 395K (+5K)

Blue are these your guesses for the phase II prices?

Those are the official Phase II prices they handed out today.

 

[bkshopr_IHB]

TIC will be very cautious to set the appropriate amount for price increase. TIC's primary goal is to send a signal out to buy ASAP before the prices increase again. The amount has to be encouraging for the phase 1 buyers psychologically for making a great decision but not to discourage the phase 2 buyers from acting immediately. I am actually helping TIC out by posting my guess of $2,000 so the price setter can gauge his or her decision based on IHBers' reaction.

I posted this before and I will reiterate again. Asian buyers primarily Chinese are creating this buying frenzy.

Your guess is way off. C: 440 K (+12K), B: 39 (+5K)

Blue are these your guesses for the phase II prices?

Those are the official Phase II prices they handed out today.

Wow! I was wrong! TIC is bold and really wanted to send this message "Better buy now because the early bird special happen just once. You will regret later if you are not decisive now". At almost $300/sf this is approaching benchmark pricing figure. I have also learned from you ladies that the importance of buying NEW out weighs many other factors.

With the huge price jump are you still interested in buying?

The fantastic grand opening gave TIC the confidence to set the current pricing and made 13 shoppers very happy.

 

[Blueberry_IHB]

I don't think this is about sending a message, it is about increasing the profit and correcting the mistake from the first release. When you sell out so fast your pricing is wrong.

My guess is that they already have buyers that verbally agreed to the price and the signing tomorrow is just a formality.

Prediction: It will be sold out by 10:30 (there are only 8 units).

 

[bkshopr_IHB]

I don't think this is about sending a message, it is about increasing the profit and correcting the mistake from the first release. When you sell out so fast your pricing is wrong.

My guess is that they already have buyers that verbally agreed to the price and the signing tomorrow is just a formality.

Prediction: It will be sold out by 10:30 (there are only 8 units).

Even with the steep price increase and you really think that will happen? Are buyers this desperate for NEW. I know Asians are NEW home addicts and the long withdraw is killing them.

 

[usctrojanman29_IHB]

I don't think this is about sending a message, it is about increasing the profit and correcting the mistake from the first release. When you sell out so fast your pricing is wrong.

My guess is that they already have buyers that verbally agreed to the price and the signing tomorrow is just a formality.

Prediction: It will be sold out by 10:30 (there are only 8 units).

Even with the steep price increase and you really think that will happen? Are buyers this desperate for NEW. I know Asians are NEW home addicts and the long withdraw is killing them.

What's the detox process for these new home Asian addicts? haha

 

[ecchan_IHB]

I don't think this is about sending a message, it is about increasing the profit and correcting the mistake from the first release. When you sell out so fast your pricing is wrong.

My guess is that they already have buyers that verbally agreed to the price and the signing tomorrow is just a formality.

Prediction: It will be sold out by 10:30 (there are only 8 units).

I have said the prices will increase to $300/ft2 after they sold out the first phase. Well, this is so close and fit well with the pricing strategy from phase 1. Predictions are pouring down lately and for the fun of it, I will add the houses will be sold within half an hour by 8 Asian/families with an average of 50% down payment. Beware, Asians are taking over Irivine, it's only a matter of time.

 

[usctrojanman29_IHB]

I don't think this is about sending a message, it is about increasing the profit and correcting the mistake from the first release. When you sell out so fast your pricing is wrong.

My guess is that they already have buyers that verbally agreed to the price and the signing tomorrow is just a formality.

Prediction: It will be sold out by 10:30 (there are only 8 units).

I have said the prices will increase to $300/ft2 after they sold out the first phase. Well, this is so close and fit well with the pricing strategy from phase 1. Predictions are pouring down lately and for the fun of it, I will add the houses will be sold within half an hour by 8 Asian/families with an average of 50% down payment. Beware, Asians are taking over Irivine, it's only a matter of time.

Oh really??? Well as long are there are cute 21-35 year old single Asian females as a part of that group, it's all good.

 

[asianinvasian_IHB]

I don't think this is about sending a message, it is about increasing the profit and correcting the mistake from the first release. When you sell out so fast your pricing is wrong.

My guess is that they already have buyers that verbally agreed to the price and the signing tomorrow is just a formality.

Prediction: It will be sold out by 10:30 (there are only 8 units).

I have said the prices will increase to $300/ft2 after they sold out the first phase. Well, this is so close and fit well with the pricing strategy from phase 1. Predictions are pouring down lately and for the fun of it, I will add the houses will be sold within half an hour by 8 Asian/families with an average of 50% down payment. Beware, Asians are taking over Irivine, it's only a matter of time.

The invasion has already begun.

 

[irvine123_IHB]

I believe diversity keeps a city attractive to a larger pool of potential buyers, therefore retains its value better. I think one's concern on this issue as expressed on the call with Dan young was extremely valid. Bk might be able to share his view, but I don't know a single town / area retains its relatively high attractiveness after it gets turned into a largely homogeneous population in recent history: china town in new york, flushing in new york, Italian town in new york, Garden Grove here, WM here, etc.

 

[ecchan_IHB]

I believe diversity keeps a city attractive to a larger pool of potential buyers, therefore retains its value better.

How many people who live in New York China town can come up with $1 mil cash to buy a house? I don't know maybe quite a few. Do the non-Asian buyers in Irvine able to compete with the Asian buyers?

 

[Oxtail_IHB]

Garden Grove is 1/3 White, 1/3 Hispanic, 1/3 Asian. It's the model of diversity. It's actually hard for me to think of any really expensive areas with consistently high property values that are actually diverse.

Irvine is already an anomaly in that it's a very well-to-do city with such a diverse population.

I think what is meant is that Irvine might lose its luster if Asians become a dominant majority in the city. But let's not hide behind the diversity flag. Homogeneous populations have not hurt property values in 99% of the other top housing markets in this country.

 

[graphrix_IHB]

I believe diversity keeps a city attractive to a larger pool of potential buyers, therefore retains its value better.

How many people who live in New York China town can come up with $1 mil cash to buy a house? I don't know maybe quite a few.

Plenty, you have never been to NYC... have you? The Chinese that are cool with the triads have plenty of cash to buy Irvine properties. But they don't. You want to know how I know... there are very minimal owners in Irvine with a NYC address.

Do the non-Asian buyers in Irvine able to compete with the Asian buyers?

Dude... the Persians/Arabs trump the Asian cash buyers two fold.

Only the idiots without access to buyer demographics will spew the Kool-Aid to make everyone believe the Asian invasion will save the market... but really... they are complete and total morons that rely on anecdotal evidence, and have no real clue of the actual market. Ummm... how many visas were issued... how many were from Asia, and how many of them ended up in Irvine? Yeah... ask those cash non-visa Asian buyers how they feel about signing that IRS form to clear themselves as a drug kingpin. Do the math... it is a f*cking myth!