Bestest Newest Detachedest Home in Irvine for less than $1m?
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Until you cash out unrealized ROI is worthless. Rolling it over to another house that also increased while yours did doesn?t do anything. Unless you are cashing out and moving to a low cost area (or downgrading which doesn?t seem to be BTBs style) it doesn?t make you wealthier.
I used to like the Portisol tract in Woodury. I remember one of the plans had a 3rd floor option/bonus room.
Here is a link to an old Irvine Housing Blog post on Portisol in 2012.
Price per Sq Foot was as low as ~$330 back in 2011!
http://www.irvinehousingblog.com/2012/04/16/rising-sun-and-the-midnight-sky/
http://www.talkirvine.com/index.php?topic=2595.0
irvinebullhousing
Well-known member
Lol the same rhetoric when it was YF about the best place to plunk money down is in Eastwood. Same dude for certain. Attempts to capitalize on his flips in Eastwood.
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irvinebullhousing
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Fair question! Return is nothing if you not selling. Flipping is tough now.
qwerty
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aquabliss said:
Until you cash out unrealized ROI is worthless. Rolling it over to another house that also increased while yours did doesn?t do anything. Unless you are cashing out and moving to a low cost area (or downgrading which doesn?t seem to be BTBs style) it doesn?t make you wealthier.
irvinebullhousing
Well-known member
Unless, you have multiple units or homes. Sell one and live in another. With the ways things are going now, I would hold all real estate properties. Rental is strong in Irvine. I dislike The Irvine Company ruthless, unforgiving rental increase business model. Even if you are a perfect tenant, rent going up no matter what, when it comes to renewal.
In addition the property tax burden on rental is unlimited for deduction vs. primary you are cap at 10K. There is another method of getting around the 10K deduction cap for primary is that if you considering renting out your home at least 15 days out of the year, it consider to be a rental and if you read and follows the rules carefully you can go beyond the 10K tax cap.
Qwerty, you seem like a tax guy, you should shed more light into this.
In addition the property tax burden on rental is unlimited for deduction vs. primary you are cap at 10K. There is another method of getting around the 10K deduction cap for primary is that if you considering renting out your home at least 15 days out of the year, it consider to be a rental and if you read and follows the rules carefully you can go beyond the 10K tax cap.
Qwerty, you seem like a tax guy, you should shed more light into this.
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irvinebullhousing
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Currently, it is flip and burn. I?ve seen this show a few times before. It isn?t pretty.
irvinehomeowner
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Wow, totally missed the comments in this thread... oh well.
Anyways, this whole thing has me looking around in Redfin again as I can't believe new attached townhomes lego'd together are hitting $1m and motorcourt detached homes without driveways are starting at $1.4m.
This is the newest home I could find for less than $1m:
$985k, 3br/2ba 1785sfthttps://www.redfin.com/CA/Irvine/51-Midnight-Sky-92620/home/5959240
It's in Woodbury, fully detached, has a driveway, low maintenance backyard... and a small front yard.
Doesn't have the downstairs in-law/guest space but a good newer starter/move-up home.
I just remember these trading in the $700-800s not too long ago.
Anyways, this whole thing has me looking around in Redfin again as I can't believe new attached townhomes lego'd together are hitting $1m and motorcourt detached homes without driveways are starting at $1.4m.
This is the newest home I could find for less than $1m:
$985k, 3br/2ba 1785sfthttps://www.redfin.com/CA/Irvine/51-Midnight-Sky-92620/home/5959240
It's in Woodbury, fully detached, has a driveway, low maintenance backyard... and a small front yard.
Doesn't have the downstairs in-law/guest space but a good newer starter/move-up home.
I just remember these trading in the $700-800s not too long ago.
iacrenter
Well-known member
paydawg said:
I used to like the Portisol tract in Woodury. I remember one of the plans had a 3rd floor option/bonus room.
Here is a link to an old Irvine Housing Blog post on Portisol in 2012.
Price per Sq Foot was as low as ~$330 back in 2011!
http://www.irvinehousingblog.com/2012/04/16/rising-sun-and-the-midnight-sky/
http://www.talkirvine.com/index.php?topic=2595.0
irvinehomeowner
Well-known member
And that's why I said ROI is not guaranteed and to me, if it's your primary residence, not something you should be focusing on.
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