I know there have been many topics about other cities but I have not found one about MV.
As stated some parts of MV are getting really close to rental parity and I might consider moving there.

Can people please clue me int to the areas to aim for or stay away from or general opinions of MV.

I am more familar with the areas closer to the lake.  Generally, I was under the impression that the further away from the 5, the better.

I like the whole area off of Olympiad better than most MV since it is generally less crowded.

My family moved from the Marguerite/Jamboree area to a newer area by Olympiad/Alycia (Canyon Crest)and it was definetly way more kept up/cleaner and nicer around the lake areas.

The only downside is the major shopping centers are either by the 5 (MV mall one side, costco/best buy etc on the otherside of the 5) or you have to go the giant shopping centers in Foothill Ranch or RSM

My mother was the manager for Panda Express in MV for many years.  If anyone ate at Panda Express there years ago, you might have seen her (Nancy).

Once she got in an auto accident in the parking lot, someone who was intoxicated backed into her car.  3 police cars and 1 accident investigation car showed up.  The drunk driver told the cops that his neck hurts and they called an ambulance for him immediately.  My mother asked if her car was safe to drive, and one of the officers took her keys and drove around the block to make sure it was OK.

In contrast, when she was rear-ended in a parking lot in Torrance/Gardena, 1 police car showed up and told her to exchange info themselves, then drove way.

My mother’s opinion of Mission Viejo is very high, and I like the Lake area a lot.  But I’d also note that MV is a declining neighborhood, where shopping plazas are showing signs of decay.  MV was Irvine before there was an Irvine yuppie community.

Generally speaking, neighborhoods next to the freeway in MV and Lake Forest are less desirable.  But if you’re using the “Irvine standard”, I think only the upper end housing areas in MV would satisfy you.

I had a discussion about this with my GF recently.  She lives in Lakewood next to my old HS and they had 2 shootings on her street over the past few years.  To her, seeing broken down cars on her neighbor’s drive way is normal.  But to yuppie Irvinites, we pay a premium to not see that.  And when you buy “cheap” in MV, you lose that “premium.

momopi - 22 October 2008 11:41 PM

My mother’s opinion of Mission Viejo is very high, and I like the Lake area a lot.  But I’d also note that MV is a declining neighborhood, where shopping plazas are showing signs of decay.  MV was Irvine before there was an Irvine yuppie community.

So… in your opinion, where is the next Irvine?

Check here

http://www.irvinehousingblog.com/forums/viewthread/640/

When you say shopping plazas are showing signs of decay do you mean its has not been updated to the Irvine standards?

halfnote19 - 23 October 2008 04:21 PM

When you say shopping plazas are showing signs of decay do you mean its has not been updated to the Irvine standards?

Go to shopping centers and plazas in MV on weekends and walk around.  Drive around the Lake and check the parking lot of the plaza there.  Check the MV mall.

Now compare that to Irvine Spectrum.

Momopi, do you know of a good pizza place in MV, RSM or Ladera? 
I still can’t find a decent pizza place in my area.

halfnote19 - 23 October 2008 04:21 PM

When you say shopping plazas are showing signs of decay do you mean its has not been updated to the Irvine standards?

Routine maintenance such as painting, parking lot restriping, water damage repairs, wood siding staining, awning fabric replacement, storefront window refurbishment, landscape restoration, signage update, irrigation and sprinkler replacement and etc. The Plaza built during the late 70’s is over 30 year old. Signs of deterioration is evident. Architecture is dated as well. Tenant vacancy could eventually cause the demise of the center.

Mission Viejo Mall (nee The Shops at Mission Viejo) is one of the best malls in Orange County in my opinion… you should have seen it before the renovation… big difference.

It looks like they are trying to connect it to the Kaleidoscope with a pedestrian bridge ala South Coast / Crystal Court.

Now they just need to renovate the Lake plaza too.

The Freeway Shopping center could use an overhaul on some of the other buildings near the entrance to create a more Spectrum-like experience but then they would have to add a parking structure.

The nice thing about MV is you have different types of areas like Irvine… lake, hill or flat and it’s close to the freeway. But like some parts of Irvine… it’s very dated.

after seeing what they did to the MV mall (used to be a complete $hithole), I strongly believe that all the other major centers will come around.

simon property group purchased the shops at MV and put $100m renovation into the property.  the renovation was a huge success—MV is most upscale mall in the county outside FI and SCP.  it’s a smaller mall but sales/sqft are comparable to SCP.  unlike north and central OC which is bursting with good to great malls, MV is well positioned in south OC where it’s the only quality mall south of irvine and north of the county line.

laguna hills mall just a few miles away is now the local S-hole.  simon also owns this property too and is likely going to keep this mall in a diff class from MV to avoid cannibalizing from each other.  laguna hills is also stuck being positioned literally on the freeway between spectrum and shops at MV.  there’s little to gain from putting more money into this property.

Things are looking up for LH mall.

They just opened a Nordstrom’s Rack in the old Circuit City/Good Guys/WoW building and there are plans to do more improvements to that area.

Plus, they are near the new Orchard development that Lake Forest just finished.

Their biggest problem is the traffic.

acpme - 23 October 2008 08:29 PM

simon property group purchased the shops at MV and put $100m renovation into the property.  the renovation was a huge success—MV is most upscale mall in the county outside FI and SCP.  it’s a smaller mall but sales/sqft are comparable to SCP.  unlike north and central OC which is bursting with good to great malls, MV is well positioned in south OC where it’s the only quality mall south of irvine and north of the county line.

laguna hills mall just a few miles away is now the local S-hole.  simon also owns this property too and is likely going to keep this mall in a diff class from MV to avoid cannibalizing from each other.  laguna hills is also stuck being positioned literally on the freeway between spectrum and shops at MV.  there’s little to gain from putting more money into this property.

MVM has always been near old money since its I Magnin and Bullucks era. SJC and MV are the 2 communities with old money. Being adjacent to the freeway is the right formula to success. Few malls far away from the freeway are successful. Laguna Mall’s senior demographic with fixed pension is impossible to deal with. Fashion and sex appeal are out then there is nothing really left in the mall. At that location there are more banks, hospitals and mortuaries than Starbucks. Traffic on El Toro with frequent signal lights and not enough of stacking on and off the freeway will deter shoppers from going there.

yup, LH mall definitely caters toward a more middle-class or fixed-income demographic.  generally not a good sign when malls start signing up what are traditionally strip center tenants.  malls want to be anchored by nordstroms, not the rack.  simon is a smart company and they know what they’re doing though in positioning LH for the middle market.

How much will the ending of MEW affect the MV mall?  or the others down there?

Will the high end stores close up, hoping that any remaining customers with money will drive up to SCP or FI?

CalGal - 23 October 2008 05:22 PM

Momopi, do you know of a good pizza place in MV, RSM or Ladera? 
I still can’t find a decent pizza place in my area.

Nope…  I drive to Garden Grove for Pizza.  @_@;;

IrvineRealtor - 23 October 2008 12:22 AM

momopi - 22 October 2008 11:41 PM

My mother’s opinion of Mission Viejo is very high, and I like the Lake area a lot.  But I’d also note that MV is a declining neighborhood, where shopping plazas are showing signs of decay.  MV was Irvine before there was an Irvine yuppie community.

So… in your opinion, where is the next Irvine?

If and when developers take over USMC Camp Pendleton.

Those who think it’d be never happen, I’d point to the numerous military bases in OC since WW2 that has closed.

momopi - 24 October 2008 01:45 AM

IrvineRealtor - 23 October 2008 12:22 AM

momopi - 22 October 2008 11:41 PM

My mother’s opinion of Mission Viejo is very high, and I like the Lake area a lot.  But I’d also note that MV is a declining neighborhood, where shopping plazas are showing signs of decay.  MV was Irvine before there was an Irvine yuppie community.

So… in your opinion, where is the next Irvine?

If and when developers take over USMC Camp Pendleton.

Those who think it’d be never happen, I’d point to the numerous military bases in OC since WW2 that has closed.

I doubt that would ever happen… all the environmentalist would be all over that land.

halfnote19,

What happened to your old avatar? I always really liked that one…

IrvineRenter - 24 October 2008 03:29 AM

halfnote19,

What happened to your old avatar? I always really liked that one…

I still have it…. I decided to change it for the halloween season.
Its a pumpkin with a house carved into it.

halfnote19 - 24 October 2008 03:33 AM

IrvineRenter - 24 October 2008 03:29 AM

halfnote19,

What happened to your old avatar? I always really liked that one…

I still have it…. I decided to change it for the halloween season.
Its a pumpkin with a house carved into it.

The new one is nice too, but I hope to see the old one again soon

This is the one I wanna see.

LOL.

Erik B IS the president.  Very fitting for a housing blog.

(ok, no one is going to get that reference, sorry)

My take on Mission Viejo…  I’ll share what I know, having lived in the area for a long time.

The lake area is nice, and the surrounding hills.  Pacific Hills and Canyon Crest have older homes that are nicely kept.  This area will always be premium.

The “melinda” area which borders RSM has the best schools as far as I know.

There are some new McMansions out against the hills, which could make for some killer deals (foreclosures).  Huge homes, nice views, but out against the hills and smaller lots.

The shopping has some slightly older plazas, but nicely kept up.  They’re not the Irvine Spectrum, but I don’t particularly care for the spectrum anyway.  Some convenient albeit older shopping centers make for an easier time getting to the necessities.  The shopping is being re-done one at a time, much like older Irvine areas around Jeffrey/Walnut.

The bottom line for MV is that is mostly caucasian, and fairly Christian as well.  So if you’re an asian buddhist who loves 99 Market and HMart, then you’ll want to stay further north.  If Saddleback Church is in your weekend plans, and you sunburn easily, then MV is a great place to live. 

Having a Mission Viejo address has “name dropper status” in many circles.