Thanks for the information, glad to hear that there is a place to play ball. If you enjoy it, then great, my opinion probably dosn’t matter.
BTW, I purchased a house in Northwood in 2001 for about 600K(paid cash), and sold it in August 2005 for $1,160,00. Great profit…..due to divorce I only got half…..so now I have about $550,000 in the bank to buy a place. Right now I’m in an apartment and sort of like it. The apartment has 3 bedrooms, is about 1300 sq ft and costs me 2250 per month…....but no B-ball court.
My guess is places like this will be in the $250 per square foot range by 2008. I got caught in the downdraft of 1990 and lost about $250,000 on a house in Glendale. A real eye opener for me, I remeber in the 1980’s everyone sitting around talking about how RE could only go up…very much like the past 2 or 3 years..then things went south for about 7 or 8 years.
I did buy a boat recently, named NanoWest, if you ever want to go fishing, let me know.
It would be a nice rental for someone who bought these a few years ago. At this price, I can’t imagine how the numbers could possibly work. In the private remarks on this listing, it says “Tenants month to month, nowpay $1800,rent comp $2400”.
Today’s report on Boston has been released on both my blog and our new website. History has shown us that Boston is a great indicator of what will happen here in California.
I’ve been living in this community for over 4 years and playing basketball (full court, I might add) is only 30 seconds away at the park across the street.
Just thought I’d let you know!
Posted by LakerFan8 on 12/04/06 at 03:19 PM
NanoWest,
It seems that there are a lot of people like yourself—sold for a big profit and just waiting to buy. You probably have no immediate need to buy a house now, after all you have a boat! For someone like myself, once I start to have kids I know I will have to sell this house for a bigger one. But I won’t care what the market is. Whatever profit I make from the sale, great! It’s all going back into the down payment of the new house. But for now, I’m content to have a 5 minute commute to work and a super low mortgage payment. Ah, I love being equity rich for now.
As a homeowner in the same community and floor plan, am I surprised that this house sold at this price? Of course. I can’t help but wonder what my house would sell at, one with better curb appeal, bigger backyard, mountain views, etc… lol!
Posted by NanoWest on 12/04/06 at 03:38 PM
LakerFan8
You are correct, I really have no immediate need to buy a house, my kids are for the most part grown up, youngest is 16, and I don’t need a yard. After 25 years of home ownership, I have no desire to buy a place. My dream residence would be a one bedroom apartment above an italian resteraunt(with pizza on the menu). I may have to move out of Irvine to find that.
Good luck and I hope you make lots of money on you place when you do need a bigger place for a family.
Posted by NanoWest on 12/04/06 at 03:39 PM
LakerFan8
You are correct, I really have no immediate need to buy a house, my kids are for the most part grown up, youngest is 16, and I don’t need a yard. After 25 years of home ownership, I have no desire to buy a place. My dream residence would be a one bedroom apartment above an italian resteraunt(with pizza on the menu). I may have to move out of Irvine to find that.
Good luck and I hope you make lots of money on your place when you do need a bigger home for a family.
Posted by Wing on 12/05/06 at 04:57 PM
IMO, Aldea is to close to Electric Power Supply Center, which is not good to health. the basketball court is pretty good and the trail for runner is poor comparing to any other communities in Irvine, no tree and no scenic, make running just a pure exercise.
Posted by Thigh on 12/06/06 at 02:14 PM
Wing,
Is there a “perfect” community out there? Let me know if that’s where you live. Thanks.
Posted by Wing on 12/06/06 at 04:01 PM
If I remember right, Aldea is not supposed to be there, that corner was designed to build more office buildings and, so sad, city council changes the plans. And it happened so many times in last couple of years, again and again.
IMO, Irvine can be a little better, and there is no need to build so many convertible class rooms. Anyway, I feel very luck that I can live in Irvine.
Posted by Thigh on 12/06/06 at 05:22 PM
I know of a lot of communities and houses where it’s not “supposed to be there.“ It’s called development. Irvine is filled with cookie cutter houses with no character, but there are plenty of people who would love to live in Irvine. Like you said, we all should be lucky to live and own a home in this city.
Posted by Momo on 12/22/06 at 03:17 PM
What’s really sad is that the Ceterline light-rail project got shot down. Had it been passed and the 87-mile tracks built over the next couple of decades, Irvine had the potential to develop into a REAL urban city like Singapore or Taipei. Instead we have these tiny-lot suburban home wanna be’s and a freeway system that everyone knows cannot sustain future growth.
Posted by NanoWest on 12/04/06 at 02:36 PM
LakerFan8
Thanks for the information, glad to hear that there is a place to play ball. If you enjoy it, then great, my opinion probably dosn’t matter.
BTW, I purchased a house in Northwood in 2001 for about 600K(paid cash), and sold it in August 2005 for $1,160,00. Great profit…..due to divorce I only got half…..so now I have about $550,000 in the bank to buy a place. Right now I’m in an apartment and sort of like it. The apartment has 3 bedrooms, is about 1300 sq ft and costs me 2250 per month…....but no B-ball court.
My guess is places like this will be in the $250 per square foot range by 2008. I got caught in the downdraft of 1990 and lost about $250,000 on a house in Glendale. A real eye opener for me, I remeber in the 1980’s everyone sitting around talking about how RE could only go up…very much like the past 2 or 3 years..then things went south for about 7 or 8 years.
I did buy a boat recently, named NanoWest, if you ever want to go fishing, let me know.
Posted by oc_fliptrack on 10/01/06 at 05:37 PM
This would make a nice rental…
——-
Posted by zovall on 10/01/06 at 09:19 PM
It would be a nice rental for someone who bought these a few years ago. At this price, I can’t imagine how the numbers could possibly work. In the private remarks on this listing, it says “Tenants month to month, nowpay $1800,rent comp $2400”.
Posted by Irvine_native on 10/02/06 at 05:21 AM
$2400 for a 2/2 in Irvine is pushing it.
Posted by Analysis Guy on 12/04/06 at 12:12 PM
Today’s report on Boston has been released on both my blog and our new website. History has shown us that Boston is a great indicator of what will happen here in California.
thebubblebuster.com
or
Daily Home Price Analysis
Posted by NanoWest on 12/04/06 at 01:29 PM
Expensive and ugly !!!!!! What a combination.
Posted by NanoWest on 12/04/06 at 01:30 PM
and….....
Guess it probalby isn’t possible to play basketball in the driveway of this gem.
Posted by IrvineRenter on 12/04/06 at 01:31 PM
Check out this great graph of historic home prices adjusted for inflation.
http://patrick.net/housing/contrib/housing_projection.html
Posted by LakerFan8 on 12/04/06 at 02:14 PM
NanoWest: Bitter and naive! What a combination.
I’ve been living in this community for over 4 years and playing basketball (full court, I might add) is only 30 seconds away at the park across the street.
Just thought I’d let you know!
Posted by LakerFan8 on 12/04/06 at 03:19 PM
NanoWest,
It seems that there are a lot of people like yourself—sold for a big profit and just waiting to buy. You probably have no immediate need to buy a house now, after all you have a boat! For someone like myself, once I start to have kids I know I will have to sell this house for a bigger one. But I won’t care what the market is. Whatever profit I make from the sale, great! It’s all going back into the down payment of the new house. But for now, I’m content to have a 5 minute commute to work and a super low mortgage payment. Ah, I love being equity rich for now.
As a homeowner in the same community and floor plan, am I surprised that this house sold at this price? Of course. I can’t help but wonder what my house would sell at, one with better curb appeal, bigger backyard, mountain views, etc… lol!
Posted by NanoWest on 12/04/06 at 03:38 PM
LakerFan8
You are correct, I really have no immediate need to buy a house, my kids are for the most part grown up, youngest is 16, and I don’t need a yard. After 25 years of home ownership, I have no desire to buy a place. My dream residence would be a one bedroom apartment above an italian resteraunt(with pizza on the menu). I may have to move out of Irvine to find that.
Good luck and I hope you make lots of money on you place when you do need a bigger place for a family.
Posted by NanoWest on 12/04/06 at 03:39 PM
LakerFan8
You are correct, I really have no immediate need to buy a house, my kids are for the most part grown up, youngest is 16, and I don’t need a yard. After 25 years of home ownership, I have no desire to buy a place. My dream residence would be a one bedroom apartment above an italian resteraunt(with pizza on the menu). I may have to move out of Irvine to find that.
Good luck and I hope you make lots of money on your place when you do need a bigger home for a family.
Posted by Wing on 12/05/06 at 04:57 PM
IMO, Aldea is to close to Electric Power Supply Center, which is not good to health. the basketball court is pretty good and the trail for runner is poor comparing to any other communities in Irvine, no tree and no scenic, make running just a pure exercise.
Posted by Thigh on 12/06/06 at 02:14 PM
Wing,
Is there a “perfect” community out there? Let me know if that’s where you live. Thanks.
Posted by Wing on 12/06/06 at 04:01 PM
If I remember right, Aldea is not supposed to be there, that corner was designed to build more office buildings and, so sad, city council changes the plans. And it happened so many times in last couple of years, again and again.
IMO, Irvine can be a little better, and there is no need to build so many convertible class rooms. Anyway, I feel very luck that I can live in Irvine.
Posted by Thigh on 12/06/06 at 05:22 PM
I know of a lot of communities and houses where it’s not “supposed to be there.“ It’s called development. Irvine is filled with cookie cutter houses with no character, but there are plenty of people who would love to live in Irvine. Like you said, we all should be lucky to live and own a home in this city.
Posted by Momo on 12/22/06 at 03:17 PM
What’s really sad is that the Ceterline light-rail project got shot down. Had it been passed and the 87-mile tracks built over the next couple of decades, Irvine had the potential to develop into a REAL urban city like Singapore or Taipei. Instead we have these tiny-lot suburban home wanna be’s and a freeway system that everyone knows cannot sustain future growth.