Woodbury East Opening July 11, 2009

[PANDA_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.

Trojan.. you are going to check out Woodbury East just to check out the 21 - 35 cute single Asian females? Really ?? I think you are going to have much better luck hanging out at 85C in diamond plaza, sipping some peach tea.

 

[ecchan_IHB]

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!

Graph, do you have statistics that the Persians/Arabs are buying houses with cash in Irvine? Do you have statistics showing what ethnicity of these cash buyers are? And the cash Asian buyers are non-visa illegal residents/ druglords? Where do you get the information? I would be very interested to hear from you minus the French.

 

[irvine_home_owner_IHB]

Hehe... little does graph know that the F in FCB stands for Foreign... not Asian... so that will include our lovely contingent from the Middle East, including Indians and Jewish people.

Heck... if South Americans or Canadians start buying in Irvine... I'm STILL covered!

FCB Theory rules!

 

[asianinvasian_IHB]

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?

Sold out at 10:15am.

 

[PANDA_IHB]

Asian invasion. I think I saw you. Prices are up $5000 from first phase. I think the layout is just ok. I don't understand all the buying frenzy.

 

[bkshopr_IHB]

Asian invasion. I think I saw you. Prices are up $5000 from first phase. I think the layout is just ok. I don't understand all the buying frenzy.

Addiction to New. Chinese are very competitive in nature in everything. School, career, in front of Dim Sum line, and even buying a new home.

 

[roundcorners_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.

Hey SC... your strategic Irvine housing plan should include hooking up with a 2nd gen Chinese girl by year end, proposing, engaged and married by next summer... earning the trust and respect of the 1st gen parents, and getting hooked up with the flow of FCB $$ for the down by 2011...

 

[reason_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.

Very interesting. Back in 2005 when the RE market was fairly hot. William Lyon attached condo/townhomes only went up 3k per phase. And their '05 new condos/townhomes were much more spacious and the ceiling heights much higher.

 

[ecchan_IHB]

Very interesting. Back in 2005 when the RE market was fairly hot. William Lyon attached condo/townhomes only went up 3k per phase. And their '05 new condos/townhomes were much more spacious and the ceiling heights much higher.

If people are lining up to buy houses next to the trash dump, prices will be high. Strong demand is the primary driving force for the higher pricing.

 

[IrvineRenter_IHB]

Very interesting. Back in 2005 when the RE market was fairly hot. William Lyon attached condo/townhomes only went up 3k per phase. And their '05 new condos/townhomes were much more spacious and the ceiling heights much higher.

If people are lining up to buy houses next to the trash dump, prices will be high. Strong demand is the primary driving force for the higher pricing.

Desire is not Demand

 

[ecchan_IHB]

Very interesting. Back in 2005 when the RE market was fairly hot. William Lyon attached condo/townhomes only went up 3k per phase. And their '05 new condos/townhomes were much more spacious and the ceiling heights much higher.

If people are lining up to buy houses next to the trash dump, prices will be high. Strong demand is the primary driving force for the higher pricing.

Desire is not Demand

IR, my comment was in reference to the recent activities at Ivy in WE. Are you saying those people are buyers with desire who do not have enough savings and cannot obtain financing to close the escrow?

 

[SoCal78_IHB]

IR, my comment was in reference to the recent activities at Ivy in WE. Are you saying those people are buyers with desire who do not have enough savings and cannot obtain financing to close the escrow?

I don't mean to answer for IR... but ask yourself if those 2,000 people at the Ivy grand opening were all pre-qualified buyers, or if many of them were just there for the free slushies.

 

[ecchan_IHB]

I don't mean to answer for IR... but ask yourself if those 2,000 people at the Ivy grand opening were all pre-qualified buyers, or if many of them were just there for the free slushies.

Yeah, the 2,000 people there were touring, checking houses, had ice creams and slushies and having a good time. They were not buyers. The handful of true buyers went there with suitcases and bodyguards.

 

[Blueberry_IHB]

If you want to have your family photo published in all the newspapers set up a tent for several days and I will guarantee that you will be interviewed by reporters and TV crews. You may even get complimentary lunches and dinners. There might even be a physician there to insure you make it to the opening day event due to the hot weather we experienced recently.

In this regard it was quite disappointing. Not even complimentary sodas or snacks. No one took pictures. Where was Erika Chavez from OC Register?

When I remember correctly, 2 families did not show up and 3 or 4 deferred to the next phase as they did not get the exact model they wanted. That and the fact that there seemed to be a lot of disappointed faces (including mine) would indicate that the next phase will be competitive too.

 

[Blueberry_IHB]

Very interesting. Back in 2005 when the RE market was fairly hot. William Lyon attached condo/townhomes only went up 3k per phase. And their '05 new condos/townhomes were much more spacious and the ceiling heights much higher.

If people are lining up to buy houses next to the trash dump, prices will be high. Strong demand is the primary driving force for the higher pricing.

Desire is not Demand

Good article. However the effect on Woodbury East comes from the other side.

I think a lot of people understand now that desire is not demand and are getting more realistic and careful. The demand from Woodbury East comes from people who desire a 800K house in Woodbury but understand the risks or can not get a big enough loan and are willing to compromise.

 

[graphrix_IHB]

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!

Graph, do you have statistics that the Persians/Arabs are buying houses with cash in Irvine? Do you have statistics showing what ethnicity of these cash buyers are? And the cash Asian buyers are non-visa illegal residents/ druglords? Where do you get the information? I would be very interested to hear from you minus the French.

I do have access to the statistics of the buyers and their names via a title company. Get in good with a title company, and you can too. Since we have a no name policy on IHB, I can't post those statistics without showing evidence (names) of said statistics, but I will tell you there are a lot more cash buying Shah's and Abdul's than there are Chen's and Yen's. If you do get access to this info, you will also see that the percentage of Asian and Persian/Arab buyers in Irvine has remained steady for years. There is not a greater presence of FCBers in 09 than there was in 06 or 02.

And if you pay cash, a form 8300 will be filled out and sent to the IRS. So for those who want to avoid the scrutiny of the IRS because you cheat on your taxes and say you don't make crap for income, then don't be surprised when the IRS comes knocking shortly after you purchase a near $500k house. This form was created in the 80s, when drug kingpins would pay cash for homes, and usually used it as a way to launder money. So also don't be surprised when you see some other government agents in your hood wondering how the hell you bought a house with cash.

Like Reason said in another thread, I may wear the crankypants (and proudly I might say), I only get cranky when people post misinformation. Usually I can post the data to back up my points but this time I can't for various reasons. However, I am not going to spew anecdotal evidence unlike some here, when I post... I post real information, and have been doing so since early 2007. My track record of being accurate is well documented here over the years.

 

[asianinvasian_IHB]

And if you pay cash, a form 8300 will be filled out and sent to the IRS. So for those who want to avoid the scrutiny of the IRS because you cheat on your taxes and say you don't make crap for income, then don't be surprised when the IRS comes knocking shortly after you purchase a near $500k house.

Did you even bother to read the form before posting this nonsense? Because you must have missed this part.

Cash does not include a check drawn on the payer’s own account, such as a personal check, regardless of the amount.

Yes, it would be suspicious if someone paid $500k for a house in dollar bills.

I only get cranky when people post misinformation.

The only one posting misinformation on this forum is you.

 

[graphrix_IHB]

And if you pay cash, a form 8300 will be filled out and sent to the IRS. So for those who want to avoid the scrutiny of the IRS because you cheat on your taxes and say you don't make crap for income, then don't be surprised when the IRS comes knocking shortly after you purchase a near $500k house.

Did you even bother to read the form before posting this nonsense? Because you must have missed this part.

Cash does not include a check drawn on the payer’s own account, such as a personal check, regardless of the amount.

Yes, it would be suspicious if someone paid $500k for a house in dollar bills.

I only get cranky when people post misinformation.

The only one posting misinformation on this forum is you.

Nice try "what is a put option" and "wanna be condo" expert. I dare you, I double dare you to dig up info I have posted that has been wrong. If I am wrong then do it, seriously... do it! If I really post misinformation then prove it. Don't get pissed though and bitch to zovall when I post all the dumb ass stuff you have said over the years. Two way street, it goes both ways, lets see who has posted more misinformation... me... or the troll? Get to searching new home hostess.

And... FWIW, you really think form 8300 is the only one the IRS has? Keep searching JPMorganfunds, and no more name changes troll boy.

 

[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.

Trojan.. you are going to check out Woodbury East just to check out the 21 - 35 cute single Asian females? Really ?? I think you are going to have much better luck hanging out at 85C in diamond plaza, sipping some peach tea.

No thanks, I dont want to be swarmed by FCBs over at WE. haha

 

[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.

Hey SC... your strategic Irvine housing plan should include hooking up with a 2nd gen Chinese girl by year end, proposing, engaged and married by next summer... earning the trust and respect of the 1st gen parents, and getting hooked up with the flow of FCB $$ for the down by 2011...

Excellent plan!!! Do you think having a CPA/MBA will help me earn the trust and respect of those 1st generation parents???