95% of one ethnic group within a street, tract, or village in Irvine. Any impact

[panda]

Here is a question i am curious about. Im sure there are certain tracts or streets with a concentration 95% or more of one ethnic group in Irvine. I am not talking about low income minorities but I am  talking about Indians, Chinese, or Koreans who are high income / high networth professionals. Would that have any negative impact when you try to resell the home 5- 10 years down the road. I have no idea what the demographic make up of Northwood point is, but let's just say that one of the subdivisions called "Plumeria Park" in Northwood Point is made up of 95% Koreans, Chinese, or Indians. The homes in that subdivision are considered to have high-end SFRs. Would that particular subdivision be considered less desirable place to live for a typical white buyer? (By a typical white buyer, I am not talking "Patrick Star" who finds pride living in a subdivision made up of 99% Koreans. )

Would it have a negative impact in resales value 5 - 10 years down the road or is there enough Asian buyers where it makes no difference that the subdivision does not appeal to a white buyer. Does my question make sense? 

 

[qwerty]

I think there will be enough asian buyers that it wont matter if it does not appeal to the white buyer.  I live on a street with a lot of asians on it, they pretty much keep to themselves which is fine by me. the only neighbor i ever talk to is the white one right next door. Maybe if they were more americanized asians the white buyer may not car as much.

 

[irvinehomeowner]

I don't really think it makes that much of a difference.

People will buy where they want to live, if they aren't of the same ethnicity, that will factor in but I don't think the impact is significant. I don't think it's an issue as there will always be someone who either doesn't care or is of the same ethnic group.

In fact, wouldn't it help resales if ethnic buyers have lots of cash in 5-10 years because that area will attract them?

If I find a 3CWG that I like and is affordable, I don't really care if my neighbors are predominately one ethnicity or a mix... just as long as they don't burn crosses on my lawn... I think I can deal with it.

 

[panda]

I would be curious to hear from a caucasion buyer's prospective looking in Irvine if they feel the same way.

Patrick Star you are not allowed to comment

 

[irvinehomeowner]

I don't think you are getting the point.

If 10 buyers are looking at your house and 9/10 are ethnic, does it matter if the 1/10 is worried about the ethnic makeup of the neighborhood?

You should be more concerned if it's only 2 buyers or if 9/10 are worried about ethnicity.

Which brings us back to your situation, I think you commented that John's Creek has a high ethnic population similar to Irvine so that's why you think it will do well in 10 years... aren't you worried?

 

[irvinerealtor]

I would be curious to hear from a caucasion buyer's prospective looking in Irvine if they feel the same way.

Patrick Star you are not allowed to comment

I bought in Irvine and considered a great number of things when deciding where to purchase. The racial makeup of my neighbors was not one of the factors considered, nor was the brand of car parked in the driveway.
-IR2

 

[panda]

I don't think you are getting the point.

If 10 buyers are looking at your house and 9/10 are ethnic, does it matter if the 1/10 is worried about the ethnic makeup of the neighborhood?

You should be more concerned if it's only 2 buyers or if 9/10 are worried about ethnicity.

Which brings us back to your situation, I think you commented that John's Creek has a high ethnic population similar to Irvine so that's why you think it will do well in 10 years... aren't you worried?

This thread is not about Johns Creek so let's stay on the topic.

 

[irvinehomeowner]

I don't think you are getting the point.

If 10 buyers are looking at your house and 9/10 are ethnic, does it matter if the 1/10 is worried about the ethnic makeup of the neighborhood?

You should be more concerned if it's only 2 buyers or if 9/10 are worried about ethnicity.

Which brings us back to your situation, I think you commented that John's Creek has a high ethnic population similar to Irvine so that's why you think it will do well in 10 years... aren't you worried?

This thread is not about Johns Creek so let's stay on the topic.

Man... did you just test me?

Or did I test you? I get it mixed up.

Either way... now I am sad and will no longer respond to your RC type posts.

 

[panda]

(By a typical white buyer, I am not talking "Patrick Star" who finds pride living in a subdivision made up of 99% Koreans. )

lol.  It just worked out that way. Apparentely I have similar taste in homes as you.   But hey, its great for getting new recipes to marinade meat.

I'll also answer your question.  We lived in Irvine for 5 years before leaving, in both Westpark and West Irvine.  And got to know many other areas as well.  Honestly, I can't think of any one neighborhood we visited which was overwhelmingly one sided (>95%) from an ethnic standpoint.  Irvine in general is very diverse. My street in West Irvine was WAY more diverse than my new one up north.  Probably the *least* diverse areas in Irvine will end up being the brand new communities, from our observation. 

I don't think a *typical* white family would be scared off of most established neighborhoods in Irvine, but I can see some who might visit a grand opening of one of the new communities giving it a second thought.  Most people want to feel like they will blend in at least a *little*.

I don't think a *typical* white family would be scared off of most established neighborhoods in Irvine, but I can see some who might visit a grand opening of one of the new communities giving it a second thought.  Most people want to feel like they will blend in at least a *little*.

Patrick, the grand opening is an interesting point. Why are the majority of the ones looking to buy in the grand opening of Woodbury and Portola Springs are all Asian? I don't buy the theory that white families have less cash or less income, therefore they are not interested in buying these new homes. Akim mentioned that it felt like 90% of people of the Sevilla's grand opening were all Asian.

Carlsbad, San Diego has interesting demographics. The demographics is made up of 80% white families, coastal, and home prices are about 10% less than Irvine. It is different from San Clemente and Dana Point as there are real jobs and young families starting move in that area and schools are improving quite significantly.

 

[Irvine2Irvine]

You can also look at it the other way.

Will having high concentration of Asians and Asian restaurants, markets, services, etc command a higher price from Asian buyers? 
Something to think about. 

Maybe someone has some stats on Monterey Park or Cerritos and the adjacent cities?

 

[purpletulip]

Would it matter if 95% are white in the neighborhood?  Would a typical Aisan/black/hispanic family be scared off by that or would the home price be affected? 

Education level (that usually translates into income level), safety and good schools are things I would consider, but not the skin color of my neighbors.

 

[panda]

You can also look at it the other way.

Will having high concentration of Asians and Asian restaurants, markets, services, etc command a higher price from Asian buyers? 
Something to think about. 

Maybe someone has some stats on Monterey Park or Cerritos and the adjacent cities?

That is also an interesting poing Irvine2Irvine, I wonder IF Irvine didn't have high concentration of Asians, Asian restaurants, markets, services,etc.. the median home prices would be the same as that of Carlsbad, CA. I wonder if the FCB premium is 10% in Irvine.  If Carlsbad had the same ethnic makeup as that of Irvine, I wonder if home prices would be 10% higher.

I don?t  think that Monterey Park or Cerritos would be a good comparison as these cities are no where near the affluence level as Irvine. I think Cupertino, CA in the bay area would be a better comparison.

Irvine2Irvine, You mentioned before if all your children are finished with school, you would rather live somewhere else. If you were financially free and never have to work again, where would be your dream place to retire?

 

[freedomcm]

A huge majority of asians would only matter to me if they were FOB/early gens that were not 'americanized' to the ways of interacting with neighbors. 

And this would be hard to discern initially.  But maybe there are visual clues you could see when looking at the house?

 

[purpletulip]

Patrick, agreed.  But that just explains that there are always people who cares, as much as those who don't care, being Aisian or white.  I am just puzzled why Asians would make a place "less desirable", especially when an Asian is asking the question, and also when Panda specified that he is not talking about low income minorities.  I am not saying the question itself is not right or not good, but does it reflect how the Asians view/position themselves?

Talking about AV and LR, I have friends who purposedly bought houses there to avoid the Asian crowd in Irvine.  I love their houses, but still decide to buy in Irvine, because of the schools and short commute to work! 

 

[irvinehomeowner]

And this would be hard to discern initially.  But maybe there are visual clues you could see when looking at the house?

Tons of shoes and slippers on the porch?

Smell of shrimp paste or kimchee emanating from their home 24/7?

Not wearing pants in the backyard?

 

[locolocal]

I think there are some people who choose not to buy in Irvine because they don't like the competitive nature of the schools.

 

[iacrenter]

Panda,

I think for Caucasian buyers who are uncomfortable with a high % of minorities, they would probably look elsewhere outside of Irvine--AV or LR as others have pointed out.

I don't think the ethnic makeup of a particular street or village will decrease its value as much as its poor designs. 10-20 years from now, do you really think all these attached/motor court/courtyard projects by TIC, smashed into tiny lots will hold their value? I have feeling once Heritage Fields comes online there will be price pressure on these products and traditional SFR will hold better value.

As for why Asians love Irvine:
1) Good schools
2) Great PR/Branding by TIC
3) Safe city reputation
4) Lots of Asian stores, restaurants already here...the momentum just builds on itself

 

[traceimage]

I think there will be enough asian buyers that it wont matter if it does not appeal to the white buyer.  I live on a street with a lot of asians on it, they pretty much keep to themselves which is fine by me. the only neighbor i ever talk to is the white one right next door. Maybe if they were more americanized asians the white buyer may not car as much.

I agree with this. Some white buyers might not mind, but many won't want to live in an area that is 95% some other ethnicity. But this ethnic makeup will *attract* buyers of the same ethnicity, so it will all balance out. Like Arcadia--white people don't want to live there, but housing prices are high because Asians do. More Asians=better schools=more Asians move in for the schools=more Asian businesses/restaurants to cater to the Asian population=good word of mouth for the city in the old country=even more Asians want to move in=$$$ home prices.

 

[iheartdebt]

I'll take all the below over 0% down, negative amorts, heloc'ed to the gills, fully loaded suburbans with river rat hitch covers any time.  Besides, what's the point of wearing pants in the backyard?  One more article of clothing to waste water, detergent and electricity on.  My 5000 sq ft. lot with miniature backyard is my kingdom. 

And this would be hard to discern initially.  But maybe there are visual clues you could see when looking at the house?

Tons of shoes and slippers on the porch?

Smell of shrimp paste or kimchee emanating from their home 24/7?

Not wearing pants in the backyard?

 

[frank69m]

For those of you who claim it doesn't make a difference to you.....I'm not being Prejudice here, but what if every one of your neighbors was African American and their kids hung out outside all day, would that affect your purchase decision?