Irvine_native posted: “For example, the Rancho San Joaquin tract in Irvine is about to charge every homeowner a $30,000 special assessment.“
Out of curiosity, how did you find this information? I have a friend who lives there and she didn’t know anything about it.
Posted by IrvineRenter on 12/04/06 at 05:55 PM
Don’t those stupid builders know that come next spring the rally will continue?
The behavior of the builders tells you all you need to know about the future of home prices. They have to work off their existing inventory, and they will at whatever price that means. Of course, they will first go the incentive route (it makes it look like prices aren’t falling), but at some point the incentive numbers get too big, and buyers finally wise up to the higher property taxes and demand lower prices.
It will probably go a bit slower in Irvine because the Irvine Company has so much clout with the builders. They would rather see the builders have no sales than reduce price. You may see some builders leave Irvine because of it. ——-
Wow, nice find Zovall! From your description, it sounds like we are looking for much the same thing in our next house purchase. My main problem with Ladera is the congestion getting into and out of the development. WAAAAaaayyy too much traffic to battle from my perspective.
I love the offer package you are considering. Let us know if you do it and what the response is!
Posted by GrewUpInIrvine on 12/04/06 at 09:50 PM
I completely agree with the HOA’s - my parent live in Woodbridge and pay almost nothing for HOA’s! (less than $100/mo.) What gives with all of these new developments?
Posted by Irvine_native on 12/05/06 at 05:40 AM
In areas with attached homes, the problem with HOAs is that they don’t charge enough for what they are ultimately responsible for - believe it or not. They have to hit their residents with assessments. Many of the older condo tracts in Irvine are charging their residents to fix things such as siding, roofing, etc.
For example, the Rancho San Joaquin tract in Irvine is about to charge every homeowner a $30,000 special assessment. This is to repair the wood/decks and the damaged foundations from the water runoff from the golf course.
Be careful when moving into an older attached home tract. Interview the HOA board to make sure you wont get hit with an assessment after you buy!
Ladera Ranch is an interesting area. I have many collegues who live there. The demographics remind me of Irvine 20 years ago. Lots of young families with kids. It sure is nice seeing little kids at the playgrounds, unlike Irvine where my kid is usually the only one there. The thing that drives them nuts is the commute to and from the freeway. If you don’t work 9-5 then Ladera Ranch would be a great place for a family.
Posted by D. Schultz on 12/05/06 at 12:57 PM
Wow:
You did a great job on this. I looked at this development as well when it was brand new. The single stories were supposed to start in the low $600’s, but when pricing came out the first list was for $699K and it just spiraled out of control from there.
I love the idea of upscale attached, but won’t consider given the monthly assessments. It’s obvious the builder passed along everything they could. Reminds me of developments here in SD where the builders design these $$$$ homebuying centers, use them to market the properties and suck people in….then turn around at buildout and sell back to the association for an obscene price.
Posted by waitinginoc on 12/05/06 at 02:02 PM
I live in Ladera Ranch very close to Covenant Hills. There is a dump just on the other side of the hill (about a 3 minute drive) and on certain days you can actually get a nice whif. Also, there are massive power lines disecting Covenant Hills. I like Ladera Ranch but the commute is horrible. It takes 20 mintutes to go the 3 miles to the freeway.
On a side note: I have seen a big shift in the types of cars in the area, lots of Hondas and a lot less Mercedes
Posted by Anonymous on 12/05/06 at 03:47 PM
Waiting in OC,
Are you talking about the Bee Canyon Landfill, or another one? Just wondering. Portola Springs will be right next to the Bee Canyon Landfill. I wouldn’t want to buy anything that close to a dump. Thanks!
Posted by graphrix on 01/18/07 at 06:40 PM
6 Salvatore is now REO with Citi/First Franklin some time in December for $803k.
Posted by Nani Mouse on 12/29/06 at 03:41 PM
Irvine_native posted: “For example, the Rancho San Joaquin tract in Irvine is about to charge every homeowner a $30,000 special assessment.“
Out of curiosity, how did you find this information? I have a friend who lives there and she didn’t know anything about it.
Posted by IrvineRenter on 12/04/06 at 05:55 PM
Don’t those stupid builders know that come next spring the rally will continue?
The behavior of the builders tells you all you need to know about the future of home prices. They have to work off their existing inventory, and they will at whatever price that means. Of course, they will first go the incentive route (it makes it look like prices aren’t falling), but at some point the incentive numbers get too big, and buyers finally wise up to the higher property taxes and demand lower prices.
It will probably go a bit slower in Irvine because the Irvine Company has so much clout with the builders. They would rather see the builders have no sales than reduce price. You may see some builders leave Irvine because of it.
——-
Posted by irvinesinglemom on 12/04/06 at 06:29 PM
Wow, nice find Zovall! From your description, it sounds like we are looking for much the same thing in our next house purchase. My main problem with Ladera is the congestion getting into and out of the development. WAAAAaaayyy too much traffic to battle from my perspective.
I love the offer package you are considering. Let us know if you do it and what the response is!
Posted by GrewUpInIrvine on 12/04/06 at 09:50 PM
I completely agree with the HOA’s - my parent live in Woodbridge and pay almost nothing for HOA’s! (less than $100/mo.) What gives with all of these new developments?
Posted by Irvine_native on 12/05/06 at 05:40 AM
In areas with attached homes, the problem with HOAs is that they don’t charge enough for what they are ultimately responsible for - believe it or not. They have to hit their residents with assessments. Many of the older condo tracts in Irvine are charging their residents to fix things such as siding, roofing, etc.
For example, the Rancho San Joaquin tract in Irvine is about to charge every homeowner a $30,000 special assessment. This is to repair the wood/decks and the damaged foundations from the water runoff from the golf course.
Be careful when moving into an older attached home tract. Interview the HOA board to make sure you wont get hit with an assessment after you buy!
Ladera Ranch is an interesting area. I have many collegues who live there. The demographics remind me of Irvine 20 years ago. Lots of young families with kids. It sure is nice seeing little kids at the playgrounds, unlike Irvine where my kid is usually the only one there. The thing that drives them nuts is the commute to and from the freeway. If you don’t work 9-5 then Ladera Ranch would be a great place for a family.
Posted by D. Schultz on 12/05/06 at 12:57 PM
Wow:
You did a great job on this. I looked at this development as well when it was brand new. The single stories were supposed to start in the low $600’s, but when pricing came out the first list was for $699K and it just spiraled out of control from there.
I love the idea of upscale attached, but won’t consider given the monthly assessments. It’s obvious the builder passed along everything they could. Reminds me of developments here in SD where the builders design these $$$$ homebuying centers, use them to market the properties and suck people in….then turn around at buildout and sell back to the association for an obscene price.
Posted by waitinginoc on 12/05/06 at 02:02 PM
I live in Ladera Ranch very close to Covenant Hills. There is a dump just on the other side of the hill (about a 3 minute drive) and on certain days you can actually get a nice whif. Also, there are massive power lines disecting Covenant Hills. I like Ladera Ranch but the commute is horrible. It takes 20 mintutes to go the 3 miles to the freeway.
On a side note: I have seen a big shift in the types of cars in the area, lots of Hondas and a lot less Mercedes
Posted by Anonymous on 12/05/06 at 03:47 PM
Waiting in OC,
Are you talking about the Bee Canyon Landfill, or another one? Just wondering. Portola Springs will be right next to the Bee Canyon Landfill. I wouldn’t want to buy anything that close to a dump. Thanks!
Posted by graphrix on 01/18/07 at 06:40 PM
6 Salvatore is now REO with Citi/First Franklin some time in December for $803k.