Aliso Viejo (Glenwood)

NEW -> Contingent Buyer Assistance Program
<blockquote>I also forgot to mention the driving path I talked about works for coming home too - take the 405 (traffic is not too bad for this stretch) -> 133 South -> 73 off-ramp (again no toll) -> El Toro -> Aliso Creek -> Glenwood. </blockquote>
There are quite a bit of toll roads you can take without paying a toll if you know which ramps to exit. It's a life saver for time.



The 73 can be costly if you don't exit from a toll-free ramp.
 
Waiting-



If you don't mind me asking, how were the closing costs that Shea mortgage charged? Also, how much did you spend in upgrades - i know they offer $14K. Lastly, did you chose a place on Golf or on the street facing the golf course. If you chose Golf, are you concerned at all about the traffic?



Your perspective is super helpful. Thanks
 
Shea essentially used the 3% to cover the costs of buying down the interest rate to 5.25% TR4-- i.e.- they charged closing costs and points ~ 3%, then credited 3%- so net effect is we get a 5.25% loan at 0 points/costs. Good deal I thought. BUT- we still pay escrow fee, title insurance, notary fees, etc-- the same as we paid to sell our Lake Forest House.



The $14k is primarily a flooring allowance. If you spec the cheapest flooring upstairs and down- it'll consume about $10k- BUT- their carpet and tile isn't bad at all. If you go to wood floors- you'll owe them money of course. As for upgrades- we're doing ~ $50k with them (and some on our own)- BUT- that includes a $12k in cabinet upgrades, $4.5k in the most expensive kitchen granite, and over-the top wiring (my thing). Granite comes with if you like any of their colors.



We aren't on the golf street- but there is one advantage to being on it. There are large set backs and mature trees on golf drive- houses are further from the street. On cabrillo terrace houses are right on the street. Feel free to email if you'd like as well (of course)... and good luck.
 
How does <a href="http://www.redfin.com/CA/Irvine/38-Trailing-Ivy-92620/home/12362541">this one</a> in Irvine compare to the Pasadera place?



If it could be purchased for $800-825K would it be close to equivalent price? The MRs on this NW II unit are only $250 per month and they have access to some very good IUSD schools...
 
Thanks - helpful info for me and anyone else who's interested. We'd prefer Cabrillo Terrace as well, but lately I've been reconsidering given the setbacks and mature trees - I'm still concerned about the traffic (pedestrian and car).



Do you have a sense for when your place will be done (or the entire phase?)
 
Our phase (#2) -the next one I think) is set for close of escrow starting first week in September... the next one (6 more houses) is in October/November. I'd heard a rumor they may release 1 more phase - about 6 houses- for move in by year end and then Shea may "take a break"... but that's unsubstantiated of course.
 
[quote author="ipoplaya" date=1210142373]How does <a href="http://www.redfin.com/CA/Irvine/38-Trailing-Ivy-92620/home/12362541">this one</a> in Irvine compare to the Pasadera place?



If it could be purchased for $800-825K would it be close to equivalent price? The MRs on this NW II unit are only $250 per month and they have access to some very good IUSD schools...</blockquote>


The schools would be a big deal to me if we had kids. So that might be the deciding factor.



Apart from that though- a 3 year old short sale in Irvine, listed at $885k- compared to brand new/get it exactly the way you want it on a golf course just a few miles away- starting at $700k?? The customization is a big deal in this one. We happen to like wood dark stained cabinets. Had to pay for them- but- we've got them. It'd cost way more then $12k to replace them in an existing house. Every choice- and there is a thousand of them- has been ours. Building from scratch is a rush- even a track house. Maybe like owing a convertable- I think everyone ought to try it once (at least).



Also short sales aren't easy - and can be prolonged while interest rates go who-knows-where. Finally what you get on move in may not be what you expect.



Again, the schools- that would be a big deal to me too I'm sure if we had kids.
 
[quote author="waiting-2-move" date=1210245024][quote author="ipoplaya" date=1210142373]How does <a href="http://www.redfin.com/CA/Irvine/38-Trailing-Ivy-92620/home/12362541">this one</a> in Irvine compare to the Pasadera place?



If it could be purchased for $800-825K would it be close to equivalent price? The MRs on this NW II unit are only $250 per month and they have access to some very good IUSD schools...</blockquote>


The schools would be a big deal to me if we had kids. So that might be the deciding factor.



Apart from that though- a 3 year old short sale in Irvine, listed at $885k- compared to brand new/get it exactly the way you want it on a golf course just a few miles away- starting at $700k?? The customization is a big deal in this one. We happen to like wood dark stained cabinets. Had to pay for them- but- we've got them. It'd cost way more then $12k to replace them in an existing house. Every choice- and there is a thousand of them- has been ours. Building from scratch is a rush- even a track house. Maybe like owing a convertable- I think everyone ought to try it once (at least).



Also short sales aren't easy - and can be prolonged while interest rates go who-knows-where. Finally what you get on move in may not be what you expect.



Again, the schools- that would be a big deal to me too I'm sure if we had kids.</blockquote>


I hear you waiting. When my wife and I bought new in 2001 to process was very enjoyable. We visited our future home almost every week to watch the construction, check to make sure our options were going in correctly, etc. Buying new and having a house just the way you want it is definitely a different animal as compared to buying even a few year place where someone selected everything else.



On the good side for you is the amount of escrow activity in AV of late. There have been a ton on places going under contract there... I think I might start up something to track the area's prices as they relate to depth of rollback.
 
IPO-



That'd be extremely helpful. Waiting - definitely agree re getting exactly what you want on move in. That was a deciding factor for us in cancelling escrow in Talega - paying 3/4 million for a house with a bunch of stuff you don't want bothered me.



Even with the uptick in activity in AV, particularly Glenwood, do you think it's advisable to rent for a year and jump back in or get in there now, lock in a good interest rate and take advantage of the incentives?
 
[quote author="TR4" date=1210291802]IPO-



That'd be extremely helpful. Waiting - definitely agree re getting exactly what you want on move in. That was a deciding factor for us in cancelling escrow in Talega - paying 3/4 million for a house with a bunch of stuff you don't want bothered me.



Even with the uptick in activity in AV, particularly Glenwood, do you think it's advisable to rent for a year and jump back in or get in there now, lock in a good interest rate and take advantage of the incentives?</blockquote>


I had IR2 setup a search of 92656 for me (only down to 2000sf) and I've started tracking closes there. <a href="http://www.ipoplaya.com/avshiller.xls">First entry is a 2004 rollback...</a>
 
IPO - Big thumbs up on starting AV info. Interesting things are going on out there. There are also a lot of foreclosures in Laguna Niguel, and since there is no mello roos there you might want to keep an eye on 92677 as well. Plus, it can be closer to the water so the temperature is a bit cooler than in Aliso.
 
[quote author="caliguy2699" date=1210294313]IPO - Big thumbs up on starting AV info. Interesting things are going on out there. There are also a lot of foreclosures in Laguna Niguel, and since there is no mello roos there you might want to keep an eye on 92677 as well. Plus, it can be closer to the water so the temperature is a bit cooler than in Aliso.</blockquote>


While I am intrigued by the entire OC market, I only have the bandwidth to track areas that I'd consider buying in. With my wife teaching at Uni, commute from the western edge of AV around the 73/133 wouldn't be bad at all for her. My office lease is up in 2009 so I could relocate our HQ to the Spectrum area and have a relatively short commute myself...
 
I heard that s&s;in Laguna Niguel is beautiful! Re-sales sell fast and the newer ones are selling too. Two pools guard gate and no mello roos! Any words on that area?
 
[quote author="bailey waiting" date=1210457316]I heard that s&s;in Laguna Niguel is beautiful! Re-sales sell fast and the newer ones are selling too. Two pools guard gate and no mello roos! Any words on that area?</blockquote>


They were ok. I thought the price was too high for what you got. In some, the kitchen was poorly designed (sadly, not a bug limited to S&S;). The back yards seemed small for a $1MM+ home.
 
What?s ?s&s;??

Never mind. I thought "s&s;" was an abbreviation. <a href="http://www.shapell.com/ss/find/laguna_niguel.cfm">S&S;</a> is a construction company.
 
[quote author="CalGal" date=1210467212]What?s ?s&s;??

Never mind. I thought "s&s;" was an abbreviation. <a href="http://www.shapell.com/ss/find/laguna_niguel.cfm">S&S;</a> is a construction company.</blockquote>


S&S;has a reputation in the construction industry for doing higher quality construction than most builders.
 
<blockquote>S&S;has a reputation in the construction industry for doing higher quality construction than most builders.</blockquote>
Thanks. This is the first time I've heard of this company.
 
I toured S&S;at LN and I thought the floorplans were horrible and the model homes looked like grandma's house...

Totally turned off from it and wont go back especially at those prices...
 
My wife and I have been looking at Pasadera in Aliso for a few months, and we are close to buying there. We both work in Irvine, so initially we thought Irvine would be ideal. Stonetree Manor in Woodbury was our favorite, but for $800k, you only get 2250 sq. ft, while at Pasadera, for about $50k LESS, you get about 900 sq feet MORE (plan 3). That, when combined with the close proximity to Irvine, made us really consider Pasadera.



Taking El Toro Rd to 133 to 405 seems pretty painless. And Aliso Niguel High School is ranked nationally in between the 2nd and 3rd Irvine high schools (4 total), so it seems to be a good school district.



And we love the idea of living on a golf course. I don't golf that much, but the scenic surroundings are definitely a plus (including the mountainous backgroup). Irvine is too flat.



Not to prolong this post, but another benefit of Pasadera seems to be the included upgrades. The basic model includes granite counter-tops in the kitchen, stainless steel appliances (no fridge), dark colored cabinets, etc. In Woodbury (and presumably Portola), you'll have to pay for those.
 
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