Better Location for Resale in Irvine

[irvinehomeowner]

So I get that you like more house... what I don't get is if you got the same house, why wouldn't you take the bigger yard too (if it DIDN'T COST MORE). We all know you would... you just don't want to admit it for some weird reason.

Because unicorns don't exist?

They do... just not in your preferred location.

Put it this way... I would not spend $1.5m+ in Stonegate for a big house with no living room, a 2-car garage, and with a tiny yard when I can spend $1.5m+ in Northwood or Woodbridge with medium house, a yard and a 3CWG.

Location is an important thing...which would make the unicorn not existent.  I mean you can get a huge house in Texas for 1.5 million and like 10 acre lot.

For someone who claims people aren't keeping it apples to apples... you sure went rutabaga on me.

 

[eyephone]

One comment: Belly people on TI don?t like to do manual labor. Its like a badge of honor to talk about your landscaper, house cleaner, nanny, etc...

I?m a DIYer in the backyard like yourself.

 

[Burn That Belly]

x

 

[Irvinecommuter]

So I get that you like more house... what I don't get is if you got the same house, why wouldn't you take the bigger yard too (if it DIDN'T COST MORE). We all know you would... you just don't want to admit it for some weird reason.

Because unicorns don't exist?

They do... just not in your preferred location.

Put it this way... I would not spend $1.5m+ in Stonegate for a big house with no living room, a 2-car garage, and with a tiny yard when I can spend $1.5m+ in Northwood or Woodbridge with medium house, a yard and a 3CWG.

Location is an important thing...which would make the unicorn not existent.  I mean you can get a huge house in Texas for 1.5 million and like 10 acre lot.

For someone who claims people aren't keeping it apples to apples... you sure went rutabaga on me.

I am not comparing apples to apples...I am saying that it's stupid to compare apples to apples because homes are not apples.  Homes are unique and if you start changing one variable, you change a whole host of others.  You keep telling me that I should ignore that reality. 

Larger lots = higher cost.  It could a direct premium like a lot premium or it could be in the form of higher cost of the home because the developer/builder is not selling as many homes per lot.  Question then is whether one rather pay that premium/costs for the larger lot, save it, or use it to purchase another property.  It's your preference, my is to use the premium to get a property with other amenities/priorities.

 

[eyephone]

I do see IC?s point of view.
If a person has a Yuge backyard. Then the maintenance might be expensive to keep up.

 

[Irvinecommuter]

I might be wrong, but between the same two houses that are the same prices, I think Irvinecommuter will choose the one with a smaller yard because he will think it will cost less for him to maintain. Am I right, IC?

Not necessarily but the issue is that such a scenario does not exist.  A larger lot pretty much means higher costs.  Question is whether one wishes to the pay the lot premium. 

My point regarding maintenance costs is that the existence of such a cost reduces the value of a yard to me, not that a larger lot has no value.

But.... I just said it. There isn't any maintenance cost!!!!  The yard automatically waters itself. It's like an extra $5 bucks a month. The garden shears cost me $20 bucks and I only need to go out there like 5 times a year for 20 minutes. If you don't plant hedge trees, then you avoid it all together. You can have concrete or paver yard. It has no maintenance whatsoever!

No....there is a maintenance cost.  In your case, it could be small but in other cases it can be big.  A gardener is going to charge more for a bigger yard versus a smaller one versus not needing a gardener at all if you have no yard. 

Put it another way, part of the drawbacks of owing a home is maintenance costs.  If you rented a house or live in an apartment, you don't have to worry about maintenance.  Should it be determinative of whether you rent or buy a house?  Of course not, but it is a consideration to be had.

In a house without a yard in Irvine, the maintenance cost is usually in the HOA fee. In the case of attached homes, that becomes the case since the sub-HOA does all the yard work surrounding your home.

We're talking $200+/mo for the sub HOA.  Now that is a dealbreaker for me. I don't spend anywhere close to $200/mo. maintaining my yard and I sure as hell don't like throwing away $200 to the sub HOA.

Even if you do hire a gardener, you're not hiring them from the right places if you think they're expensive.  Two words: Santa Ana.

Yeah...sub-HOA fees are crazy.  Considering mortgage payments are deductible and HOA fees are not, it often does not make sense to buy an attached property even if it is cheaper than a detached one.

 

[bones]

I get lost trying to keep up with this thread but all one has to do is check Stonegate Arcadia resales (no yard) versus pavilion park rosemist resales (decent yard).  Yard and no onsite elem school sells for higher PSF despite being sagged with high MR.

 

[Irvinecommuter]

I do see IC?s point of view.
If a person has a Yuge backyard. Then the maintenance might be expensive to keep up.

That is definitely true.  I remember looking at the model homes in Baker's Ranch and thinking...how much would it cost to landscape the thing? 

We had friends in Ladera Ranch that spent like 100 to 150K to landscape their yards and were told that it was "low" compared to others. 

 

[Mety]

I do see IC?s point of view.
If a person has a Yuge backyard. Then the maintenance might be expensive to keep up.

That is definitely true.  I remember looking at the model homes in Baker's Ranch and thinking...how much would it cost to landscape the thing? 

We had friends in Ladera Ranch that spent like 100 to 150K to landscape their yards and were told that it was "low" compared to others.

Hence here is the answer:http://c2eirvine.com/homes/

Welcome to New Irvine, "not you mama's master plan."
Don't forget to watch the 3D rendering videos of all plans.

 

[Irvinecommuter]

I get lost trying to keep up with this thread but all one has to do is check Stonegate Arcadia resales (no yard) versus pavilion park rosemist resales (decent yard).  Yard and no onsite elem school sells for higher PSF despite being sagged with high MR.

That really has to do with Arcadia being very much overpriced at that time it was being sold.  Arcadia started at $1.1 million for 2,900 square feet in August 2013 while Rosemist was at 1.08 million for 3,100 square feet in November 2013. 

A number of the later developments in Stonegate ran into the same problem (see Sausalito) because the developments like Saratoga and Mendocino jumped in value in a short period of time.  Saratoga went from high 600K/low 700Ks in November 2012 to like high 800K by middle of 2013.  Mendocino went from low 800Ks to like 1 million during that same time.  Thus, Tri Pointe had no choice but to price Arcadia high.  Arcaida and Sausalito basically had to throw a bunch of amenities in to get people to buy.

 

[bones]

I get lost trying to keep up with this thread but all one has to do is check Stonegate Arcadia resales (no yard) versus pavilion park rosemist resales (decent yard).  Yard and no onsite elem school sells for higher PSF despite being sagged with high MR.

That really has to do with Arcadia being very much overpriced at that time it was being sold.  Arcadia started at $1.1 million for 2,900 square feet in August 2013 while Rosemist was at 1.08 million for 3,100 square feet in November 2013. 

A number of the later developments in Stonegate ran into the same problem (see Sausalito) because the developments like Saratoga and Mendocino jumped in value in a short period of time.  Saratoga went from high 600K/low 700Ks in November 2012 to like high 800K by middle of 2013.  Mendocino went from low 800Ks to like 1 million during that same time.  Thus, Tri Pointe had no choice but to price Arcadia high.

Not talking about cost to buy from builder. Talking about 2017. Fully built out tract. In resale. Today?s buyer prefers to pay MORE for a yard + higher  MR + no school on site.

 

[Irvinecommuter]

I get lost trying to keep up with this thread but all one has to do is check Stonegate Arcadia resales (no yard) versus pavilion park rosemist resales (decent yard).  Yard and no onsite elem school sells for higher PSF despite being sagged with high MR.

That really has to do with Arcadia being very much overpriced at that time it was being sold.  Arcadia started at $1.1 million for 2,900 square feet in August 2013 while Rosemist was at 1.08 million for 3,100 square feet in November 2013. 

A number of the later developments in Stonegate ran into the same problem (see Sausalito) because the developments like Saratoga and Mendocino jumped in value in a short period of time.  Saratoga went from high 600K/low 700Ks in November 2012 to like high 800K by middle of 2013.  Mendocino went from low 800Ks to like 1 million during that same time.  Thus, Tri Pointe had no choice but to price Arcadia high.

Not talking about cost to buy from builder. Talking about 2017. Fully built out tract. In resale. Today?s buyer prefers to pay MORE for a yard + higher  MR + no school on site.

I can't really find the comps so I will take your word for it but the yard is already done so a buyer now does not have to deal with that initial cost.

 

[Liar Loan]

Just admit you made a bad purchase, Irvinecommuter, so we can move on here.

 

[Irvinecommuter]

Just admit you made a bad purchase, Irvinecommuter, so we can move on here.

Why do I need to do that?  I like where I live and the house I am in.  My ROI is really good and my neighbors are great.

Can't really ask for any more.

 

[irvinehomeowner]

Just admit you made a bad purchase, Irvinecommuter, so we can move on here.

Why do I need to do that?  I like where I live and the house I am in.  My ROI is really good and my neighbors are great.

Can't really ask for any more.

Good neighbors trumps no yard/big yard.

 

[Burn That Belly]

x

 

[bones]

I can't really find the comps so I will take your word for it but the yard is already done so a buyer now does not have to deal with that initial cost.

Stonegate: Arcadia/Maricopa
$451 PSF:https://www.redfin.com/CA/Irvine/66-Rossmore-92620/home/58552407
$463 PSF:https://www.redfin.com/CA/Irvine/58-Hazelton-92620/home/58556459
$471 PSF:https://www.redfin.com/CA/Irvine/74-Nassau-92620/home/40101528
$442 PSF:https://www.redfin.com/CA/Irvine/25-Lyndhurst-92620/home/40101633

Pavilion Park: Rosemist/Sagewood
$471 PSF:https://www.redfin.com/CA/Irvine/130-Cardinal-92618/home/51682493
$483 PSF:https://www.redfin.com/CA/Irvine/143-Yellow-Daisy-92618/home/51682984
$491 PSF:https://www.redfin.com/CA/Irvine/141-Yellow-Daisy-92618/home/51682983
$451 PSF:https://www.redfin.com/CA/Irvine/115-Cardinal-92618/home/51682485

These are 2017/2018 resales.  It's close, but remember:
PP HOA is MORE for LESS pocket parks
PP MR is MORE for NO school on site (SG MR is around 4k(??) and MR for the PP homes are about double with that sweet 2% increase)
PP Location is INFERIOR (per the masses - I personally think SG and PP are equal).

So why would people pay MORE to live in PP over SG?  They love paying more for less?  OR maybe it's
THE YARD!!

 

[eyephone]

Promoting Yard house? Jk

 

[irvinebullhousing]

Anyone know the total numbers of homes including completed and total of projected homes to be complete in SG?

 

[bones]

Promoting Yard house? Jk

Never been there. I don?t like American food. Plus it?s at an outdoor mall. Things are too spread out. And too much sun exposure while I walk between stores.