Avenue one on Jamboree

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PeterUK_IHB

PeterUK_IHB

New member
I'm brand new to the market and seeing as you are a bunch of savvy people could you please give me some advice?

On the Corner of Jamboree and Dupont there are some new Units called Avenue one, I called the other Day and guess what, 602 sq Ft for $385K plus I'd imagine you've got monthly maint costs etc...do you think after buying one of these the Value will drop like everything else? Would it be a good investment? Also, what would I have to make PA to qualify?

The 602 sq ft one is way too small BTW, I was just quoting that one as an example...everyone I spoke to at work just laughed out loud when I told them...oh, plus for $385 you'd be on ground level facing a busy street or parking lot I should imagine...;-(

Thanks in advance.
 
Peter - read some time reading the older posts and forum conversations on this blog; many of them discuss Ave One as well as the other Irvine high rises in detail. In a nutshell: the consensus on this blog is that these overpriced boxes are doomed, and are crashing in a big, bad, ugly way.
 
<p>PeterUK, adding to what irvinesinglemom suggested . . . use the "search" button at the top of the screen and search for "Avenue One." </p>

<p>There have been a couple of discussions regarding these. </p>
 
<p>Peter,</p>

<p>Check out the posts on attached housing. The 385k price tag is extremely entry level so only attached is in the price range. Detached condo is totally out of the picture. If you can stretch another 100,000 then you are much better off with a detached home. </p>

<p>Attached homes have too much liabilities and future headaches. Everyone that I have known owned attached homes for the last 30 years regreted their purchase.</p>
 
Thanks bk, I understand and agree with what you're saying...however, I work pretty much 6 Days a week, not at home much and something like the place I'm living in now, a 2bed...2 1/2 Br Townhouse would be perfect because there's no maintenance like Yard work etc etc involved...
 
<p>The detached condo is your best option. Patio yard could be all hardscape with some accent planting in pots. Very little if any maintanance there. All the landscapings are taken care of by the association. Many executives preferred detached condos because of the same reason you mentioned. It is a better sound investment. </p>

<p>The negativities and liabilities of the condo will not allow it to appreciate much in the future. If any one unit of the complex is having one problem such as mold, termites, or construction defect then Its owner could not sell the unit the problem is fixed for the entire complex or project. One also could not sell or let alone find a buyer when the project is in litigation. As construction activities come to a halt lawyers will be shifting their focus to forensic class action lawsuits. History repeats itself. litigations happened during all previous recessions.</p>

<p> </p>
 
<p>NOOOO!!!</p>

<p>My friend bought there almost 2 years ago and he admits it's the worst decision he ever made. It's basically just like Villa Siena. You are much better off renting.</p>
 
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