Aliso Viejo Discussion Thread

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[quote author="CalGal" date=1216866180][quote author="irvinesinglemom" date=1216811128]I've said this before and I'll say it again. I live in Irvine and my personal experience with my many Asian neighbors is that most of them are married couples with kids who seem very uncomfortable with my "lifestyle" as a single mother. It's like they think my condition is contagious. Most of them won't even make eye contact with me, even when I say hello directly to them. Now don't get me wrong, I've been treated just as rudely by plenty of white people, but there is a real language and cultural barrier for me here in Irvine that is making me consider MV and AV more and more seriously every day. I used to take my son on playdates with a Korean kid from his daycare, but when I got divorced, the parents acted really weird - the husband wouldn't even acknowledge I was in their house.



And frankly, it would be nice to have neighbors who speak the same language as me! (My neighbor on the left speaks only Farsi and on the right, only some form of Chinese. It's very difficult to cultivate friendships in this situation!)</blockquote>
ISM, my husband and I had a very difficult time when we moved to Irvine. We would walk right past Asian people and they would never respond to us when we said "hi" - in fact, they wouldn't even look at us. Our neighbors wouldn't talk to us or even look at us. We tried to be friends with them or even just neighborly, but they wanted nothing to do with us. It was very frustrating. Of course, they aren't all this way, in fact one of my best friends is Asian. But we just found most of them didn't want anything to do with us. And I can understand if they were intimidated by the language barrier if they didn't speak English, but I'm sure they know the work "hi" or "hello" by now.



This is one of the main reasons we left Irvine. So, hopefully you won't take it personally when some Asians don't socialize with you - they don't with me either. ;-P I've met more people in Coto in 6 months than I did in Irvine in 4 years.</blockquote>


CalGal,



Are these Fresh Off the Boat Asians or Second Generation Asians? We, 2.0 Asians love white people. Therefore if Panda is your neighbor, I'll make sure to have my entire family to say "HI" ten times with a big SMILE.



ISM, if the asians neighbors don't say "hi" to you that's their problem not yours. I hear you on Aliso Viejo. With a 35% - 40% Asian population in Irvine, it makes even Panda a little uncomfortable. I mean what is Panda to do when he finds out that he is surrounded by all Korean FOB neighbors living in Irvine.



I have heard my share of horror stories of Korean FOBs living in Irvine. What has your experience been having them as your neighbors?
 
[quote author="PANDA" date=1216886112]CalGal,



Are these Fresh Off the Boat Asians or Second Generation Asians? We, 2.0 Asians love white people. Therefore if Panda is your neighbor, I'll make sure to have my entire family to say "HI" ten times with a big SMILE.



ISM, if the asians neighbors don't say "hi" to you that's their problem not yours. I hear you on Aliso Viejo. With a 35% - 40% Asian population in Irvine, it makes even Panda a little uncomfortable. I mean what is Panda to do when he finds out that he is surrounded by all Korean FOB neighbors living in Irvine.



I have heard my share of horror stories of Korean FOBs living in Irvine. What has your experience been having them as your neighbors?</blockquote>


In my experience Panda, it's the 1st gen FOB crowd that doesn't socialize with the bakgwei. On my street we have a number of multi-gen asian households. Grandparents speak zero english, parents speak mediocre english, kids... who knows because they are being spoken to at home in their native tongue.
 
[quote author="awgee" date=1216864981]ISM - You might like the South Bay: Manhattan Beach, Hermosa Beach, Redondo Beach. When I was growing up there, single parents and step parents were the norm.


I don't know if this helps, but there are certain cultures, Asians included, who do not seem to make eye contact with me either. I am married, so it probably has nothing to do with my marital status.</blockquote>


Are there similar areas in OC that are good for singles?
 
[quote author="caliguy2699" date=1216852067]That neighborhood is a prime example of what I say you need to watch out for in Aliso - packed in neighborhoods that just don't feel like they were designed quite right and don't have the right vibes (perhaps it's the feng shui). Another of these is <a href="http://www.redfin.com/CA/Aliso-Viejo/7-Bienvenido-92656/home/5685214">this neighborhood for me</a> - I couldn't exactly put my finger on it but it just felt off when we drove through here - like the homes were too tall and crammed in. This one (<a href="http://www.redfin.com/CA/Aliso-Viejo/4-Alegre-92656/home/5685160">4 Alegre</a>)is in a really strange position because it's off of a little side street but sort of shares a "driveway" with the one right next door. Really odd...</blockquote>


Thats great, Caliguy. When my wife and I first started looking several years ago we almost ended up buying a place in that neighborhood. I'll chalk it up to inexperience and the overall frenzy that was taking place at the time. People were desperate to buy a place and it felt like you either had to close immediately or find another place. Thankfully we passed. A realtor convinced us to buy a place in Oak Creek - I'm forever in his debt. You would have to pay me to buy in the neighborhood you linked now. Actually, you'd have to pay me to buy anywhere right now. No. Seriously. I'll take all donations. ;)
 
[quote author="norcaljeff" date=1216890479][quote author="awgee" date=1216864981]ISM - You might like the South Bay: Manhattan Beach, Hermosa Beach, Redondo Beach. When I was growing up there, single parents and step parents were the norm.


I don't know if this helps, but there are certain cultures, Asians included, who do not seem to make eye contact with me either. I am married, so it probably has nothing to do with my marital status.</blockquote>


Are there similar areas in OC that are good for singles?</blockquote>




Downtown HB, Eastside CM, NPB peninsula would be my picks for single-parent and LBGT friendly, yet still upscale. maybe parts of fullerton too?



don't know about south county, maybe DP or san clemente?
 
[quote author="freedomCM" date=1216892381][quote author="norcaljeff" date=1216890479][quote author="awgee" date=1216864981]ISM - You might like the South Bay: Manhattan Beach, Hermosa Beach, Redondo Beach. When I was growing up there, single parents and step parents were the norm.


I don't know if this helps, but there are certain cultures, Asians included, who do not seem to make eye contact with me either. I am married, so it probably has nothing to do with my marital status.</blockquote>


Are there similar areas in OC that are good for singles?</blockquote>




Downtown HB, Eastside CM, NPB peninsula would be my picks for single-parent and LBGT friendly, yet still upscale. maybe parts of fullerton too?



don't know about south county, maybe DP or san clemente?</blockquote>


The peninsula is great for singles, but I would disagree on it being a good place for a single parent. If you don't have kids, both the east and the west side of Costa Mesa along with HB are good areas for singles that are more affordable. If you want to spend more, Corona del Mar, Newport and Laguna Beach are great too. Although I know a lot of singles that moved to AV because prices were so much better and they have their own mini singles scene there.
 
<a href="http://www.zillow.com/HomeDetails.htm?zprop=51655038">This large and lovely AV house</a> just closed for $260 per sf - $1,005,000.



Last few closes in my spec in AV have been much deeper 2004 rollbacks...



<a href="http://www.ipoplaya.com/avshiller.xls">IPO's AV CS</a>
 
[quote author="ipoplaya" date=1216974805]<a href="http://www.zillow.com/HomeDetails.htm?zprop=51655038">This large and lovely AV house</a> just closed for $260 per sf - $1,005,000.



Last few closes in my spec in AV have been much deeper 2004 rollbacks...



<a href="http://www.ipoplaya.com/avshiller.xls">IPO's AV CS</a></blockquote>


IPO of little faith...I told you prices there were still falling There are just too many funny loans out there not to...
 
[quote author="caliguy2699" date=1216981102][quote author="ipoplaya" date=1216974805]<a href="http://www.zillow.com/HomeDetails.htm?zprop=51655038">This large and lovely AV house</a> just closed for $260 per sf - $1,005,000.



Last few closes in my spec in AV have been much deeper 2004 rollbacks...



<a href="http://www.ipoplaya.com/avshiller.xls">IPO's AV CS</a></blockquote>


IPO of little faith...I told you prices there were still falling There are just too many funny loans out there not to...</blockquote>


Fortunately for me they have stopped falling in Irvine. Once I close escrow, I authorize prices to continue their march into 2002-2003 territory... As a matter of fact, I implore prices to undertake a spirited and accelerated descension commencing anytime afer 7/31/08.
 
An investor picked up <a href="http://www.zillow.com/HomeDetails.htm?zprop=25544780">14 Meadowpoint yesterday for $634k</a>. Last sold for $830k in 12/04. Not sure if that was a wise investment or not.



Caliguy, are you tracking some of the foreclosures that don't go back to the bank like this one? Kinda like round 2 of flipping gone wrong in thinking the foreclosure champ was going to get knocked out, only to come out swinging and beating the flipper down.
 
[quote author="graphrix" date=1217125537]An investor picked up <a href="http://www.zillow.com/HomeDetails.htm?zprop=25544780">14 Meadowpoint yesterday for $634k</a>. Last sold for $830k in 12/04. Not sure if that was a wise investment or not.



Caliguy, are you tracking some of the foreclosures that don't go back to the bank like this one? Kinda like round 2 of flipping gone wrong in thinking the foreclosure champ was going to get knocked out, only to come out swinging and beating the flipper down.</blockquote>


I think it will be a good flip. I believe that unit is a 2800sf 4/3. They should be able to unload it in the low $700K range for sure...
 
[quote author="ipoplaya" date=1217127190][quote author="graphrix" date=1217125537]An investor picked up <a href="http://www.zillow.com/HomeDetails.htm?zprop=25544780">14 Meadowpoint yesterday for $634k</a>. Last sold for $830k in 12/04. Not sure if that was a wise investment or not.



Caliguy, are you tracking some of the foreclosures that don't go back to the bank like this one? Kinda like round 2 of flipping gone wrong in thinking the foreclosure champ was going to get knocked out, only to come out swinging and beating the flipper down.</blockquote>


I think it will be a good flip. I believe that unit is a 2800sf 4/3. They should be able to unload it in the low $700K range for sure...</blockquote>


1 Thornbird is similar in specs, has a pool, and sold for $710k nearly 4 months ago. I doubt it.
 
I thought CK might appreciate that <a href="http://www.zillow.com/HomeDetails.htm?zprop=25550528">4 Berkshire</a> went back to the bank today for $576k. It sold for $745k three years ago.
 
[quote author="graphrix" date=1218194801]I thought CK might appreciate that <a href="http://www.zillow.com/HomeDetails.htm?zprop=25550528">4 Berkshire</a> went back to the bank today for $576k. It sold for $745k three years ago.</blockquote>


Nice, thanks Graph. I'm starting to wonder if I am going to have to wait much past January 1, 2009 to get what I want for my price. Won't be the bottom (probably by a long shot), but I'm not going anywhere for a long while...knock on wood. Things are looking promising, and are not even out of the summer yet.



I wonder how the people across the street with the Escalade and Porsche feel about living across from the bank? Man, I love streetview!
 
[quote author="Shadax" date=1217283389][quote author="ipoplaya" date=1217127190][quote author="graphrix" date=1217125537]An investor picked up <a href="http://www.zillow.com/HomeDetails.htm?zprop=25544780">14 Meadowpoint yesterday for $634k</a>. Last sold for $830k in 12/04. Not sure if that was a wise investment or not.



Caliguy, are you tracking some of the foreclosures that don't go back to the bank like this one? Kinda like round 2 of flipping gone wrong in thinking the foreclosure champ was going to get knocked out, only to come out swinging and beating the flipper down.</blockquote>


I think it will be a good flip. I believe that unit is a 2800sf 4/3. They should be able to unload it in the low $700K range for sure...</blockquote>


1 Thornbird is similar in specs, has a pool, and sold for $710k nearly 4 months ago. I doubt it.</blockquote>


Shadax - 1 Thornbird is a 2000sf 4/2.5. It indeed sold for $710K four months ago. You don't believe that an extra 800sf and a half bath increases a places price? I think grabbing up a 2800sf 4/3 for a price $70K less than what a 2000sf place in the same neighborhood sold for recently might be a heck of a good flip opportunity. 9 Tanglewood, also in the same area, is a 2163sf home and it just closed on 8/7 for $639K, less than what Meadowpoint apparently went for at auction.
 
4 months was a long time (and a different market) ago. At the time of my OP, that comp had not been available. It's possible that the potential flipper could profit, especially if they are or they know a broker. I still wouldn't put my money on it. I guess that's the risk/reward scenario for ya.
 
Updated my Aliso Viejo tracking with a couple of new closes. A 2,340sf place on Diamond Gate, same neighborhood as Thornbird and Meadowpoint, just closed at $700K...
 
[quote author="ipoplaya" date=1217127190][quote author="graphrix" date=1217125537]An investor picked up <a href="http://www.zillow.com/HomeDetails.htm?zprop=25544780">14 Meadowpoint yesterday for $634k</a>. Last sold for $830k in 12/04. Not sure if that was a wise investment or not.



Caliguy, are you tracking some of the foreclosures that don't go back to the bank like this one? Kinda like round 2 of flipping gone wrong in thinking the foreclosure champ was going to get knocked out, only to come out swinging and beating the flipper down.</blockquote>


I think it will be a good flip. I believe that unit is a 2800sf 4/3. They should be able to unload it in the low $700K range for sure...</blockquote>


<a href="http://www.redfin.com/CA/Aliso-Viejo/14-Meadowpoint-92656/home/4856618">14 Meadowpoint</a> made it back on to MLS after a couple of weeks from the investor purchase...



I think they will make out nicely on this flip. Will be interesting to see just how nicely.



Interesting side note, our friends bought this exact same model, just one street over, a bit less than a year ago, and spent around $925K. So their AV house has declined $150-175K or so over the twelve or so months (17.5%) whereas their old condo in West Irvine has only gone down around $50K (7%) over that same timeframe. If they would have rented for just a year, which they did consider, their two kid's college educations would have been bought and paid for... That is what I call amazingly bad timing.
 
[quote author="ipoplaya" date=1219217544]

Interesting side note, our friends bought this exact same model, just one street over, a bit less than a year ago, and spent around $925K. So their AV house has declined $150-175K or so over the twelve or so months (17.5%) whereas their old condo in West Irvine has only gone down around $50K (7%) over that same timeframe. If they would have rented for just a year, which they did consider, their two kid's college educations would have been bought and paid for... That is what I call amazingly bad timing.</blockquote>


Except they may have locked in a rate 1.5-2 points lower....So if they stay in their house 30 years.... by my rough calculations its pretty much a wash.
 
[quote author="25w100k+" date=1219219539][quote author="ipoplaya" date=1219217544]

Interesting side note, our friends bought this exact same model, just one street over, a bit less than a year ago, and spent around $925K. So their AV house has declined $150-175K or so over the twelve or so months (17.5%) whereas their old condo in West Irvine has only gone down around $50K (7%) over that same timeframe. If they would have rented for just a year, which they did consider, their two kid's college educations would have been bought and paid for... That is what I call amazingly bad timing.</blockquote>


Except they may have locked in a rate 1.5-2 points lower....So if they stay in their house 30 years.... by my rough calculations its pretty much a wash.</blockquote>


Say what? Exsqueeze me? Aren't rates lower one-year later? They did buy with a conforming ($400K) 30-year fixed loan...



<img src="http://www.ipoplaya.com/morgtrend.jpg" alt="" />
 
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