Current thoughts in 2011...

[rkp]

VoC aren't bad.  I just dont get a good feeling driving through the neighboorhoods.  The only other thing that really bothers me are the huge power lines above.  I know I know, "just don't look up" haha...  The styling of the homes in the area are oddly mismatched.  they are also big whereas they look like they belong on huge lots, but instead they are all compacted.  Looks like the builder inserted their goal line D...

The power lines do bother me and I wouldnt get a house facing them for sure.  The funny thing is that on the other side of the power lines is WP2 and they have same issues with train but cost 25% more...just doesnt make sense to me.

I think VoC and neighbor communities would have done much better if they followed a play for TIC - mature big trees.  Look at the older neighborhoods down culver...i have no clue whats behind those walls of plants unless i go into the community.  VoC, TF, etc should have done the same

 

[IndieDev]

The styling of the homes in the area are oddly mismatched.  they are also big whereas they look like they belong on huge lots, but instead they are all compacted.  Looks like the builder inserted their goal line D...

Dare I say the McMansion setup?


I still think it's funny that Tustin decided to zone an "affordable housing section" in a neighborhood where homes were once selling for a million bucks.

 

[rkp]

I still think it's funny that Tustin decided to zone an "affordable housing section" in a neighborhood where homes were once selling for a million bucks.

TF2 has the big houses and no affordable units as far as i can tell.  TF1 has affordable units and doesnt have houses that are million bucks

personally, i am a fan of mixed neighborhoods.  growing up in west LA, you could turn a few streets and see rich and turn another few and see poor.  we all went to the same schools and i think it gives a different perspective on life

 

[irvinehomeowner]

There is a section in TF2 that is supposed to be affordable housing, it's closer to the north side near TF1.

What I do remember from the touring the bigger TF2 model homes back in the day is that the stairs were a bit steep and narrow... and that's when I was thinner.

 

[IndieDev]

I still think it's funny that Tustin decided to zone an "affordable housing section" in a neighborhood where homes were once selling for a million bucks.

TF2 has the big houses and no affordable units as far as i can tell.  TF1 has affordable units and doesnt have houses that are million bucks

personally, i am a fan of mixed neighborhoods.  growing up in west LA, you could turn a few streets and see rich and turn another few and see poor.  we all went to the same schools and i think it gives a different perspective on life

I'm not sure what is considered "TF2" or "TF1", but here's a million dollar home for sale only a block from "affordable housing" on Aviator Lane:http://www.redfin.com/CA/Tustin/1318-Sun-Dial-Dr-92782/home/5956986

I'm not dissing on affordable housing, I used to live in a neighborhood of "that type" when I was a kid. Some people are at different financial stages in their lives, and that's fine. But you won't find many "million dollar" home buyers who won't at least pause when considering on whether they want to live next to someone that is cashing Section 8 vouchers.

 

[irvinehomeowner]

Ironically, I own in Irvine, but want to move out in the next 2-3 years.

Not trying to get too personal... but why did you buy in Irvine?

My plan is to move to Laguna Niguel, Dana Point or Laguna Beach, view required of course, all of this not dependent on me selling the Irvine home.

Depending on where it is, maybe you can sell me your Irvine home at a discount... heh.

I would like to live closer to the ocean too... but probably not until I retire.

 

[rkp]

you guys are right - TF2 does have affordable units

Tustin Field II Affordable:http://www.tustinlegacy.com/article.cfm?id=95
Completed by WL Homes (dba John Laing Homes) in 2006, Tustin Field II consists of 189 single family detached homes developed at an average density of 5 dwelling units per acre; 40 (21%) of the homes are income restricted and sold at prices affordable to Very Low, Low and Moderate Income Households. 

 

[abcd1234]

Playing devil's advocate here- but I always think how easy it will be to sell the house.  I know you may not think the power lines are a deal breaker, but to many it is, and your buyer pool might be much smaller in the event you want to sell a house near power lines.

Edited- maybe this should have gone to the VOC/TF thread too!

 

[IndieDev]

Ironically, I own in Irvine, but want to move out in the next 2-3 years.

Not trying to get too personal... but why did you buy in Irvine?

My plan is to move to Laguna Niguel, Dana Point or Laguna Beach, view required of course, all of this not dependent on me selling the Irvine home.

Depending on where it is, maybe you can sell me your Irvine home at a discount... heh.

I would like to live closer to the ocean too... but probably not until I retire.

When I originally bought in Irvine, I had a different vision about what I wanted in life. It was close to my church, the friends I made, and my job (at the time). But most of all, I couldn't afford to buy in coastal ocean areas of Laguna Beach/Niguel/Dana Point. 

I think Irvine is a great city, as much as I think that buying a home here in this market isn't "smart money", I can understand why people pay the prices they do to live here. You won't find a more ethnically diverse, centrally located, and family friendly city than Irvine in OC.

It's just not for me anymore, if that makes any sense. For those that are planning to stay in Irvine and raise children, these are some of the things I'd watch for as the years go by:

(1) Be involved in your kids lives. The highly ranked schools, and lack of crime sometimes belie the 'burb under belly. Pay attention to your kids, and their friends. I've seen a lot of horrible ugliness that TIC brochures won't necessarily talk about.

(2) Many people have probably learned this, all too well these days, but live within your means. If someone buys a Porsche or Lambo down the street, give them a thumbs up, and continue on with your life. Living in competition with Mr. Jones makes life horrible.

(3) Talk with your neighbors. I know culturally some races are simply more private than others, but separatism is so Dark Ages. There's a world outside of the walls.

Just my not-so-subtle criticisms/observations of the "Irvine brand".

 

[akim997]

#3 is funny for me.  I'm korean, and so are my neighbors... but i don't speak korean and they don't speak english... lol...  but hey, if I'm ever bbq'n some galbi... anyone should feel free to stop by... 

 

[akim997]

(1) Be involved in your kids lives. The highly ranked schools, and lack of crime sometimes belie the 'burb under belly. Pay attention to your kids, and their friends. I've seen a lot of horrible ugliness that TIC brochures won't necessarily talk about.

(2) Many people have probably learned this, all too well these days, but live within your means. If someone buys a Porsche or Lambo down the street, give them a thumbs up, and continue on with your life. Living in competition with Mr. Jones makes life horrible.

I would think #1 and #2 are true of most OC cities - oceanview or not.

My wife grew up in Irvine and shared many experiences with me, so yeah I get it, good schools dont mean a thing....  I work about 60 hrs a week, not including TI time and life gets busy... but I've cut out other things in life (golf, going out, etc.) to make sure i spend quality time with my daughter. 

Yeah, I'm a bit anti-the norm when it comes to all the bling that many OC'ers get into.  Aside from my car (I'm an auto fanatic), I don't really spend money on anything else.  My wife is pretty good as well.    I may have a 997, but my wife drives a 51mpg prius to balance it out.  We actually take the prius everywhere and my car only takes me to and from work.  It was something I wanted to get out of my system before I settled down.  Now its time to settle down.  I've been thnking of a replacement car and I might just get a 2006 Scion XB (I like the old body style) for cash and be done with it.  Priorities are different now.  Cash flow-wise can we afford the house?  Yeah, not a problem.  But I also want to make sure I save enough each year to retire.  People don't realize how much you really need.  Save $5K a month for 30 years (in addition to 401k... that's my magic number....

 

[firsttimer]

(1) Be involved in your kids lives. The highly ranked schools, and lack of crime sometimes belie the 'burb under belly. Pay attention to your kids, and their friends. I've seen a lot of horrible ugliness that TIC brochures won't necessarily talk about.

(2) Many people have probably learned this, all too well these days, but live within your means. If someone buys a Porsche or Lambo down the street, give them a thumbs up, and continue on with your life. Living in competition with Mr. Jones makes life horrible.

I would think #1 and #2 are true of most OC cities - oceanview or not.

Save $5K a month for 30 years (in addition to 401k... that's my magic number....

Wow must be nice!

 

[irvinehomeowner]

*SAVE* $5k a month?

Too many ballers in Irvine... I need to move to Santa Ana.

 

[rkp]

But I also want to make sure I save enough each year to retire.  People don't realize how much you really need.  Save $5K a month for 30 years (in addition to 401k... that's my magic number....

kudos man - saving $5k a month in addition to 401K is really great. 

i completely agree that people underestimate savings.  in my age group, i think less than half of my friends max their 401Ks.  heck some dont even fund it at all. 

question for all - why do areas like Irvine and south county have more of a keeping with jones mentality than other areas?  or is it prevalent everywhere?  my theory is that the new master planned communities in OC bring a very similar type of people together in terms of family makeup and incomes.  hence, when one person from that group buys something flashy, everyone feels like they should be able to do so as well as they think they are all the same though everyone's lives are different and expenses are different.

going back to my point about growing up in WLA with rich and poor mixed together, this doesnt happen as much as you have no clue who is in your neighborhood.  my parents street has blue collar workers, a couple small business owners, professionals, and some retired folks.  The income range is very wide and there isnt much need to compete with each other.

 

[irvinehomeowner]

Is it really "Keeping up with the Jones" or more like keeping up with your friends and co-workers?

This is where I see a bit of inconsistency with Life In Irvine Thesis papers:

1. No one talks to their neighbors and keeps to themselves.

or

2. Everyone socializes with each other so they always have to outdo their neighbors.

Which one is it? It's probably a mix of both... and how is that different in any city? Sure, insult the earth tones, the stucco, the pocket parks and the boring architecture... but you'll find life here similar to any suburban community. Except buyers pay all cash, guys named Mike put mini amusement parks in their backyard and we are forced to wear pants in our California Rooms.

 

[akim997]

Keeping up with the joneses generally doesnt refer to retirement savings...  why?  because you don't share that with your neighbors.  "hey john, do you know my latest monte carlo analysis says im 80% to retirement"...  hahaha... not...    we all come from different walks of life.  right now, we are saving more because we are saving for a house.    that, obviously, would go down in the interim.  my point was that with the absence of defined benefit pensions, people need to save more today than they used to, and most of us underscore that importance.  just because the mortgage company will loan you x% of your income, doesnt mean you should take it.    i know what my "magic number is" and for that, i need to put away as much as i can...  i want to enjoy my kids in the future, so ill work hard now to hopefully achieve that one day. 

Reference to keepin up is more with regards to material goods such as cars, clothes, toys and other designer accessories.    Rather than take example from people like warren buffet or sam walton, many are obsessed with the lifestyles of the rich and famous a la hollywood celebrities.  just look at those faker oc housewives who are all over the oc register for the wrong reasons - foreclosure, bankruptcy, etc....    now you nasty beeyatches, go sell your LV luggage for cents on the dollar on craigslist hahaha!  if you have the money, then hey go spend it however  you want, but i hate people who get obsessed with lifestyle and looking richer than you really are.  I actually like the opposite, as my friends do to.  One of my friends does really well, but drives a nissan cube, has no fancy clothes, lives in an old house, and lives a simple life.  Another owns a small company doing $12MM a year in revenue.  He wears basketball shorts and flip flops every day.  No gucci here...  i'm sure people around here look down on us and say "look at these scrubs"...  but who cares?  i only answer to my wife and my daughter (when she cries).  we all have our vices (mine WAS cars, but now looks like real estate)...  my wife?  she doesnt care about LV, chanel, etc...  she just wants a nice house.  Not to show off, but its just something SHE wants.  heck, no one visits us anyways since all of our friends live in LA.  (All of our LA friends DESPISE orange county).   

 

[rkp]

(All of our LA friends DESPISE orange county). 

i have lived here for almost 10 years and i still despise it!  i love the conveniences, the clean open streets, but i cant put my finger on why i never feel like i belong in OC.  i think most LA people dislike OC and vice versa

my wife is an OC gal and while she liked our year living a few blocks from the beach in the heart of santa monica, she hated the traffic, dirtiness, how every errand took an hour or more between traffic and parking, how she had to remember which streets she can walk around at night and which she cant...

the straw that broke the camels back was her target experience....it took her over an hour and half to get from 3rd street promenade to the target in culver city and that was it.  we packed up and moved back to OC...for whatever reason, irvine has a target every corner and really does make it easy for the day to day stuff

 

[akim997]

my wife went to law school at loyola which is in the heart of LA...  and right there next to K-town.  She lived there for 3 years and I agree LA is a different animal.  Was it cool going to "toast" on sun mornings or getting drunk at the bar in the middle of the farmers market at the grove?  Sure...  but we had similar target experiences.  3 hr trip from downtown to LaBrea....  BestBuy the same.  She would drive 45 minutes in traffic to Trader Joe's on 3rd.  Now, everything is right there in front of us.   

 

[panda]

Akim, congratulations on your new home.

Quick question. Are you able to easily afford this mortgage on one income or two? I think i would also have a coronary if i was dependent on my wife's income to make the mortgage payments on a $668k loan, especially if all my savings was going into this house. If you are on one income and you can still sock away $5000 a month in savings on a carrying cost of around $4500/month, more power to you.

Just don't be over leveraged to the point where you can't sleep at night. Also make sure you get a good tenant who pays, as a bad one may be your worse nightmare.

ha... i supposed the decrease in agency jumbo limits will have no effect in irvine....  "bring it on!" say the fcb....

putting 20% down on our $835K purchase... i almost had a coronary....  payments will be fine, cash flow ok, but heck, i'm puttin pretty much everything we have and more into this deal.  i guess it doesnt help that we are hanging onto our current house to rent out. 

 

[akim997]

thanks for the concern.  when i say we are putting everything we have, it's savings, not cash flow.  the reason why its everything we have, is we are going to hold on to our current house as well and rent it out.    we have good equity in the home as we bought it in jan 2002.  who knows, we may end up selling it... haven't decided just yet. 

we are a two income family...  i think that's the way many in irvine are.  we can pay our expenses with one, but we've had those same thoughts... what if the wife decides to stay home.. so yeah you have to plan for that...    thanks for looking out.