ABC123 - 12 November 2009 03:32 AM

The Irvine Company is way behind the times.

This is what a real California Room should look like (notice the decent sized lot).  Why would anyone want to live in Irvine, when they can choose to send their child to the prestigious Encinitas and San Dieguito Union School Districts and also be conveniently located near shopping, restaurants and beaches.

This San Diego set up only looks good but does not work in real life. Where is the “L” shape furnishing set up where people can sit and gather for conversation. Where is the TV wall and fireplace? None of the realistic lifestyle is being addressed. Sorry, this function follows form does not pass the test.

agreed… TIC needs to use:

Open Glass Walls, instead of sliders from the animation video…

if anyone from TIC is reading this… at least use nice

French Doors… (that open out please!)

please refer to my poll...

There is still time to do a change order… and offer it as an upgrade…!  You can pay me the 1% commission for every upgrade you get… that will be my consultation fee… ^_^ (seriously PM me)

I like some of the homes in the new WB collection, but the prices seem to be still high.  Even if one purchased the less expensive homes, you are talking about $4500+ a month in mortgage for a little over 2000 sqft house.  For example, a purchase of a high $600k house plus any upgrades will probably run about $700k in reality.  Putting 20% down ($140k) will result in a $560k mortgage or
a total of $4831/month payment. 

The following is the breakdown of the monthly payment:
HOA                 250
Property Tax     909
MR                 667
Loan Payment       3006
Total Monthly       4831

That still seems like a lot to me…

Sorry to inform you, but no one in Irvine puts only 20% down.  Try at least 50% or all cash.

Still Too High - 15 November 2009 03:51 AM

Sorry to inform you, but no one in Irvine puts only 20% down.  Try at least 50% or all cash.

This year, the median down payment is 30% and the average is 41.92% per the Irvine MLS Sales History document on Irvine Realtor’s site (www.irvinerealtorsite.com)

SoCal78 - 15 November 2009 04:12 AM

Still Too High - 15 November 2009 03:51 AM

Sorry to inform you, but no one in Irvine puts only 20% down.  Try at least 50% or all cash.

This year, the median down payment is 30% and the average is 41.92% per the Irvine MLS Sales History document on Irvine Realtor’s site (www.irvinerealtorsite.com)

I agree, for new construction I would happy if i can put down 30% and be cash flow positive. Perhaps on foreclosures you will find that putting down 20% will be enough, but not on new construction. I think for these new woodbury homes (current prices), you’ll probably need to put down 50% to be cash flow positive. I think the HOA will be more like $105 - $120 instead of $250.00.

In that document, out of the approximately 970 home sales confirmed, “only” 176 had 100% down.

Though it is admirable that these 176 individuals bought their Irvine home for 100% cash, WHY IN THE WORLD??? would you want to put 100% down when money is literally free to borrow?

I can think of several reasons to put 100% down.

1. You’re just that rich
2. You sold a home and are putting all the equity into the new home
3. You’re borrowing from a relative who gives better terms than the bank
4. Your monthly income fluctuates and you want your payments as low as possible
5. You’re laundering money

The reality of buying a house in Irvine is that for most people to buy and remain cash-flow positive each month, they need to have a large down payment.

bones - 15 November 2009 06:06 PM

I can think of several reasons to put 100% down.

1. You’re just that rich
2. You sold a home and are putting all the equity into the new home
3. You’re borrowing from a relative who gives better terms than the bank
4. Your monthly income fluctuates and you want your payments as low as possible
5. You’re laundering money

The reality of buying a house in Irvine is that for most people to buy and remain cash-flow positive each month, they need to have a large down payment.

Chinese do not believe in paying interest. The idea of paying more back than what was being borrowed bothers them.

If there were no Chinese buyers in Irvine, home prices in Irvine would be comparable to Ladera Ranch, Aliso Viejo, Fullerton and Yorba Linda on a price per square foot basis.  The Chinese demand in Irvine is so strong, the price per sq. ft. is about $50/sf. ft. higher than it really should be.  The sad thing is this Chinese influence will probably not stop anytime soon and prices will stay high.  I wish they would stop buying for about six months so prices would come down.  It would be a good thing for them as well.  Paying a higher price for a home only benefits the builder and the County Tax Collector.  It does no good for the homeowner in the long run.  Can someone connected in the Chinese community spread this word of advice?  Please!!

Most expensive to least expensive top 15. I was suprised to see that Irvine’s median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?

1) Newport Coast
2) Laguna Beach
3) Newport Beach
4) Villa Park
5) Coto de Caza
6) Rossmoor
7) North Tustin
8) Seal Beach
9) San Clemente
10) Dana Point
11) Yorba Linda
12) Huntington Beach
13) Las Flores
14) Laguna Niguel
15) Irvine - median home price $561,200

Still Too High - 15 November 2009 08:23 PM

If there were no Chinese buyers in Irvine, home prices in Irvine would be comparable to Ladera Ranch, Aliso Viejo, Fullerton and Yorba Linda on a price per square foot basis.  The Chinese demand in Irvine is so strong, the price per sq. ft. is about $50/sf. ft. higher than it really should be.  The sad thing is this Chinese influence will probably not stop anytime soon and prices will stay high.  I wish they would stop buying for about six months so prices would come down.  It would be a good thing for them as well.  Paying a higher price for a home only benefits the builder and the County Tax Collector.  It does no good for the homeowner in the long run.  Can someone connected in the Chinese community spread this word of advice?  Please!!

Still too high,
Exactly what word of advice would you like me to spread to my fellow Chinese friends? Attention all Chinese Irvine homeowners! If you sell your Irvine home and move to Ladera Ranch, you will receive a 100% rebate on all Mello Roos taxes on your new Ladera Ranch home for ten years.

Hurry as this Tax rebate will end in 6 months.

PANDA - 15 November 2009 09:33 PM

Most expensive to least expensive top 15. I was suprised to see that Irvine’s median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?

1) Newport Coast
2) Laguna Beach
3) Newport Beach
4) Villa Park
5) Coto de Caza
6) Rossmoor
7) North Tustin
8) Seal Beach
9) San Clemente
10) Dana Point
11) Yorba Linda
12) Huntington Beach
13) Las Flores
14) Laguna Niguel
15) Irvine - median home price $561,200

That list is BS…forget about median home prices.  The only reason is 15th is because it has so many damn condos.  Keep your focus on price/sf…that is a great parameter to compare apples-to-apples.  If you used that parameter, Irvine would be in 3 or 4.

PANDA - 15 November 2009 09:33 PM

Most expensive to least expensive top 15. I was suprised to see that Irvine’s median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?

Las Flores is around Mission viejo/Ladera Ranch

Rossmoor is around Los Alimitos/ Leisure World

Still Too High - 15 November 2009 08:23 PM

If there were no Chinese buyers in Irvine, home prices in Irvine would be comparable to Ladera Ranch, Aliso Viejo, Fullerton and Yorba Linda on a price per square foot basis.  The Chinese demand in Irvine is so strong, the price per sq. ft. is about $50/sf. ft. higher than it really should be.  The sad thing is this Chinese influence will probably not stop anytime soon and prices will stay high.  I wish they would stop buying for about six months so prices would come down.  It would be a good thing for them as well.  Paying a higher price for a home only benefits the builder and the County Tax Collector.  It does no good for the homeowner in the long run.  Can someone connected in the Chinese community spread this word of advice?  Please!!

I assume you’re being facetious.  You can’t blame the Chinese buyers for you not being able to afford a house in Irvine.  Sometimes you’re priced out of the market and have to set your sights lower.  I tried to buy an apartment in Manhattan when I lived on the east coast a few years back.  We’re talking 600k for a 600 sq ft studio, and most of the places sold for over asking price.  I ended up renting, and then moving.  The Irvine market seems tame in comparison, though still overpriced.  Living in the city did help alter my view on how much living space I need to be comfortable.

Besides it’s not just the Chinese.  I see a lot of Koreans looking at homes too.  Or are we just lumping them all together?

bones - 15 November 2009 11:37 PM

Still Too High - 15 November 2009 08:23 PM

If there were no Chinese buyers in Irvine, home prices in Irvine would be comparable to Ladera Ranch, Aliso Viejo, Fullerton and Yorba Linda on a price per square foot basis.  The Chinese demand in Irvine is so strong, the price per sq. ft. is about $50/sf. ft. higher than it really should be.  The sad thing is this Chinese influence will probably not stop anytime soon and prices will stay high.  I wish they would stop buying for about six months so prices would come down.  It would be a good thing for them as well.  Paying a higher price for a home only benefits the builder and the County Tax Collector.  It does no good for the homeowner in the long run.  Can someone connected in the Chinese community spread this word of advice?  Please!!

I assume you’re being facetious.  You can’t blame the Chinese buyers for you not being able to afford a house in Irvine.  Sometimes you’re priced out of the market and have to set your sights lower.  I tried to buy an apartment in Manhattan when I lived on the east coast a few years back.  We’re talking 600k for a 600 sq ft studio, and most of the places sold for over asking price.  I ended up renting, and then moving.  The Irvine market seems tame in comparison, though still overpriced.  Living in the city did help alter my view on how much living space I need to be comfortable.

Besides it’s not just the Chinese.  I see a lot of Koreans looking at homes too.  Or are we just lumping them all together?

Just curious… does anybody know how much the Chinese and Korean population has grown in Ladera Ranch in the past decade? I know the location is less desirable than Irvine, but i can totally see how Asians would find Ladera homes desirable. You can get some nice sized lots in Ladera for the money. I am curious to know where Asians are migrating to in south Orange County outside of Irvine. If i can’t afford a home in Irvine, Ladera Ranch would be my second choice, then Aliso Viejo would be my third.

bkshopr - 12 November 2009 12:28 AM

Homes were designed by Caucasians who do not even do stir-fry. The entire process were executed by westerners without a clue of the eastern philosophy totally absent of an Asian specialist to trouble shoot the products.

From the Ivy floor plan commentary post they did learn to get toilets away from the entry.

PM me if you want to avoid the bad floor plans.

I once took my hardcore Chinese relatives to PeiWei for a Chinese meal cooked by Mexican chefs. It was a disaster.

Open floor plan and California Room are for white people.  Chinese do not use their kitchens for entertaining.  Open floor plan is great if you are sipping merlot with your guests while the prime is rib slowly roasting in the oven; try having a conversation with anyone near the kitchen when there is a lobster getting wok-ed with the the exhaust fan full blast to keep the grease out of the room. 

Chinese will enclose the California Room because they do not want the outdoor lifestyle.  Outdoor lifestyle in Taipei or Beijing means death by lung cancer.

Chinese want high performing schools, period.  There is no other reason the ghettos south of the 210 in Arcadia sell for premium prices other than Arcadia High School.  TIC can build build a village of lean-to sheds for that “outdoor lifestyle” and Chinese will buy them up so long as Irvine schools continue to perform.

ABC123 - 15 November 2009 11:32 PM

PANDA - 15 November 2009 09:33 PM

Most expensive to least expensive top 15. I was suprised to see that Irvine’s median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?

Las Flores is around Mission viejo/Ladera Ranch

Rossmoor is around Los Alimitos/ Leisure World

Is Las Flores the same city as Rancho Santa Margarita? I’ve heard some great things about RSM with a little younger demographics than Irvine. I think RSM also ranks high as one of the best places in live on Money magazine 2009.

PANDA - 16 November 2009 12:32 AM

ABC123 - 15 November 2009 11:32 PM

PANDA - 15 November 2009 09:33 PM

Most expensive to least expensive top 15. I was suprised to see that Irvine’s median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?

Las Flores is around Mission viejo/Ladera Ranch

Rossmoor is around Los Alimitos/ Leisure World

Is Las Flores the same city as Rancho Santa Margarita? I’ve heard some great things about RSM with a little younger demographics than Irvine. I think RSM also ranks high as one of the best places in live on Money magazine 2009.

Las Flores is next to RSM and shares the same zip code.  I’ve looked around RSM, Ladera, and Coto.  While the median price is high, the price per sqft is lower as far as I can tell, and there has been a much larger % drop in prices compared to Irvine.  The homes are very nice and I would have no problem sending my kids to the schools there, if I had any.  The population skews a little more white. If you’re Asian, there are not many Asian restaurants or markets in the area, you’ll probably have to drive to Irvine for that.

USCTrojanCPA - 15 November 2009 10:00 PM

PANDA - 15 November 2009 09:33 PM

Most expensive to least expensive top 15. I was suprised to see that Irvine’s median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?

1) Newport Coast
2) Laguna Beach
3) Newport Beach
4) Villa Park
5) Coto de Caza
6) Rossmoor
7) North Tustin
8) Seal Beach
9) San Clemente
10) Dana Point
11) Yorba Linda
12) Huntington Beach
13) Las Flores
14) Laguna Niguel
15) Irvine - median home price $561,200

That list is BS…forget about median home prices.  The only reason is 15th is because it has so many damn condos.  Keep your focus on price/sf…that is a great parameter to compare apples-to-apples.  If you used that parameter, Irvine would be in 3 or 4.

You are spot on SCTrojan.  You have to focus on price/sf.  Median home price is crap data.

Still Too High - 16 November 2009 02:07 AM

USCTrojanCPA - 15 November 2009 10:00 PM

PANDA - 15 November 2009 09:33 PM

Most expensive to least expensive top 15. I was suprised to see that Irvine’s median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?

1) Newport Coast
2) Laguna Beach
3) Newport Beach
4) Villa Park
5) Coto de Caza
6) Rossmoor
7) North Tustin
8) Seal Beach
9) San Clemente
10) Dana Point
11) Yorba Linda
12) Huntington Beach
13) Las Flores
14) Laguna Niguel
15) Irvine - median home price $561,200

That list is BS…forget about median home prices.  The only reason is 15th is because it has so many damn condos.  Keep your focus on price/sf…that is a great parameter to compare apples-to-apples.  If you used that parameter, Irvine would be in 3 or 4.

You are spot on SCTrojan.  You have to focus on price/sf.  Median home price is crap data.

Yup. I can agree with T-man. If you live in zip code 92603, you’re living in the 5th most expensive zip code in all of Orange County. Too many cheap condos in Irvine would also skew this data.

Still Too High - 16 November 2009 02:07 AM

USCTrojanCPA - 15 November 2009 10:00 PM

PANDA - 15 November 2009 09:33 PM

Most expensive to least expensive top 15. I was suprised to see that Irvine’s median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?

1) Newport Coast
2) Laguna Beach
3) Newport Beach
4) Villa Park
5) Coto de Caza
6) Rossmoor
7) North Tustin
8) Seal Beach
9) San Clemente
10) Dana Point
11) Yorba Linda
12) Huntington Beach
13) Las Flores
14) Laguna Niguel
15) Irvine - median home price $561,200

That list is BS…forget about median home prices.  The only reason is 15th is because it has so many damn condos.  Keep your focus on price/sf…that is a great parameter to compare apples-to-apples.  If you used that parameter, Irvine would be in 3 or 4.

You are spot on SCTrojan.  You have to focus on price/sf.  Median home price is crap data.

Did either of you bother to look that data up? Because according to the latest DataQuick sqft. pricing, for just SFRs, it would show the average Irvine sqft. price would be down to the 12, 13 or maybe even 14 spot. Yeah, 92603 would be near the top, but Irvine is a city and I can pluck zip codes from those areas listed above that are higher too. City wise, Irvine would be at the bottom of that list.

High Gravity - 16 November 2009 12:15 AM

bkshopr - 12 November 2009 12:28 AM

Homes were designed by Caucasians who do not even do stir-fry. The entire process were executed by westerners without a clue of the eastern philosophy totally absent of an Asian specialist to trouble shoot the products.

From the Ivy floor plan commentary post they did learn to get toilets away from the entry.

PM me if you want to avoid the bad floor plans.

I once took my hardcore Chinese relatives to PeiWei for a Chinese meal cooked by Mexican chefs. It was a disaster.

Open floor plan and California Room are for white people.  Chinese do not use their kitchens for entertaining.  Open floor plan is great if you are sipping merlot with your guests while the prime is rib slowly roasting in the oven; try having a conversation with anyone near the kitchen when there is a lobster getting wok-ed with the the exhaust fan full blast to keep the grease out of the room. 

Chinese will enclose the California Room because they do not want the outdoor lifestyle.  Outdoor lifestyle in Taipei or Beijing means death by lung cancer.

Chinese want high performing schools, period.  There is no other reason the ghettos south of the 210 in Arcadia sell for premium prices other than Arcadia High School.  TIC can build build a village of lean-to sheds for that “outdoor lifestyle” and Chinese will buy them up so long as Irvine schools continue to perform.

Only another fellow Chinaman knows this ancient Chinese secret. The California Room and open Kitchen are only for Charlie Chan, Foo Man Chu and Hop Sing.

I guess the Chinese consumers who participated in the survey cook La Choy in the microwave.

I would not sacrifice my everyday function for the 2 times a year entertaining events. Do consumers really entertain this much? Do people really keep their kitchen/great room clean always. Model homes are deceiving and really do not illustrate how people really live and especially Chinese.

graphrix - 16 November 2009 03:23 AM

Still Too High - 16 November 2009 02:07 AM

USCTrojanCPA - 15 November 2009 10:00 PM

PANDA - 15 November 2009 09:33 PM

Most expensive to least expensive top 15. I was suprised to see that Irvine’s median homes prices are in 14th place out of 40. Where exactly is Rossmoor and the city of Flowers?

1) Newport Coast
2) Laguna Beach
3) Newport Beach
4) Villa Park
5) Coto de Caza
6) Rossmoor
7) North Tustin
8) Seal Beach
9) San Clemente
10) Dana Point
11) Yorba Linda
12) Huntington Beach
13) Las Flores
14) Laguna Niguel
15) Irvine - median home price $561,200

That list is BS…forget about median home prices.  The only reason is 15th is because it has so many damn condos.  Keep your focus on price/sf…that is a great parameter to compare apples-to-apples.  If you used that parameter, Irvine would be in 3 or 4.

You are spot on SCTrojan.  You have to focus on price/sf.  Median home price is crap data.

Did either of you bother to look that data up? Because according to the latest DataQuick sqft. pricing, for just SFRs, it would show the average Irvine sqft. price would be down to the 12, 13 or maybe even 14 spot. Yeah, 92603 would be near the top, but Irvine is a city and I can pluck zip codes from those areas listed above that are higher too. City wise, Irvine would be at the bottom of that list.

I think the problem is not comparing PSF versus median home prices.  The problem lies with population.  The population of Irvine is 200,000+.  Villa Park has a population of 6,000.  Yorba Linda has 60,000 people.  I think Irvine is the largest city on that list.  A city with such a huge population can never compete with cities/towns with much smaller populations when it comes to aggregate home prices.