Aliso Viejo (Glenwood)

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Copper is now 3 times the price as it was a few years ago. Most of the condos now-days use PEX. It is said to have a 100 year lifespan. But I would still worry. I remember the PEX builders used 30 years ago when it first came out. Lawsuits every which way.



The cast iron shea uses in the first floor and the ceiling is nice nice nice! This way you can't hear someone flush the toilet on the floor above you. I wish all builders would do this. I think william lyons uses it as well.
 
To the extent it matters, I bought a plan 1C (Italiante) in Pasedera. This blog has been invaluable. Had it not been for IHB, I would have bought a $780K place worth no more than $750 now and without question $700k by the end of the year. I'm extremely fired up about Pasedera - primarily because our neighbors our young professionals like my wife and I - lawyers, doctors, bankers, etc... Say what you will - boring, yuppie, etc... i've already made contact with several of my neighbors and they're great people - one could only hope to have the neighborly "love" we've had - and we haven't even moved in yet.



Just as an fyi, Shea raised prices $10K in their last release - which was last weekend. For my bear friends, I may lose some equity in the near term, but for the first time in my life I will have a home and I couldn't be happier. So grateful for everyone who takes the time to paticipate on this blog, especially the all-stars. You all rock.
 
[quote author="TR4" date=1213537255]To the extent it matters, I bought a plan 1C (Italiante) in Pasedera. This blog has been invaluable. Had it not been for IHB, I would have bought a $780K place worth no more than $750 now and without question $700k by the end of the year. I'm extremely fired up about Pasedera - primarily because our neighbors our young professionals like my wife and I - lawyers, doctors, bankers, etc... Say what you will - boring, yuppie, etc... i've already made contact with several of my neighbors and they're great people - one could only hope to have the neighborly "love" we've had - and we haven't even moved in yet.



Just as an fyi, Shea raised prices $10K in their last release - which was last weekend. For my bear friends, I may lose some equity in the near term, but for the first time in my life I will have a home and I couldn't be happier. So grateful for everyone who takes the time to paticipate on this blog, especially the all-stars. You all rock.</blockquote>


Hey, as long as you can afford the payments, plan on being there for a while, and (quite obvious) you are happy with the place, then you made the right decision. I hope you keep reading and posting though. We are a housing blog, and not a bubble blog, despite the bearish opinions of the majority here, we would still like to hear from recent owners. Maybe you will have a story about how great Shea was in taking care of an issue, and the place next door sold for $50k more, or maybe it won't be so rosy, but it would be good to hear what it is like to be a buyer in this market, good or bad.



Congrats on your purchase.
 
Most of us here has always said if you are going to buy, buy somewhere where you LOVE. Since you are buying at 2003 prices, you should be in good shape.
 
[quote author="waiting-2-move" date=1210072648]thanks for the congratulations...

and maybe it's 8 years not 6 to recover- but check outhttp://www.laalmanac.com/economy/ec37.htm - you can see in '95 the median price in the county hit a 5 year low- but prices recovered within 3 years. So in the last 25 years, the guy who bought in 1990 lost money 5 years in a row--- but was even again 3 years later. But this is the worst possible case in 25 years. So based on this I don't think my general assumption is that far off.



who knows, the decline that started in OC a couple of years ago may be the worst in 25 years, but I don't think so.</blockquote>


Do bear in mind you are looking at averages. On a per property basis, the situation can be less pleasant. I bought a condo in South Coast Metro in 1989 and it took 11 years to get back to 0. I still own it and rent it out so I survived it. But those 11 years taught me a long painful lesson.
 
Thanks Graphix and Padre - I appreciate it. We're extremely excited at this point. Things are going well so far with Shea. This is without question one of my favorite blogs and while I'll post when I feel I have something to say/contribute, I will check in daily to read. It's rare when you have a community/forum, online or otherwise, with some many intelligent, insightful people willing to help for no other reason than for help's sake.
 
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