Finally I am ready to buy

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Cklein

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I have a budget between $800K to $1M.
I am a single guy, probably spend half of my time in Spectrum area. The other half will be in China. Currently live "The Village" apartment.

So the new home is just a place to live, and part of my asset portfolio. I am gambling in 10 years, the house may appreciate 50%. That way, I can get all my expenses on the house back.

Or else, I need a place to live anyway, and I don't have a house yet. Somehow I feel I need one.

Any suggestions? Quail Hill? Stonegate?

It does not need to be big, but I like it to be fairly new, contemporary. I am not a family guy, I want to get a modern feeling from my house. If there's a highend condo in Spectrum area, I will certainly buy. But I really hate the condo in the area of Jamboree/405. It's not even as nice as "The Village" apartment.
 
Well 10 years from now at an all time low interest rate, rate has no where to go but up in the next few years and continue to do so.

I can't see housing appreciate at the same time interest rate on the rise. The only reason you see this kind of housing mania is because

of ultra low interest rate.....What goes up must go down and what goes down must goes up....Just my 2 cents....

Buy to live but never to invest in Irvine especially.
 
Cklein said:
I have a budget between $800K to $1M.
I am a single guy, probably spend half of my time in Spectrum area. The other half will be in China. Currently live "The Village" apartment.

So the new home is just a place to live, and part of my asset portfolio. I am gambling in 10 years, the house may appreciate 50%. That way, I can get all my expenses on the house back.

Or else, I need a place to live anyway, and I don't have a house yet. Somehow I feel I need one.

Any suggestions? Quail Hill? Stonegate?

It does not need to be big, but I like it to be fairly new, contemporary. I am not a family guy, I want to get a modern feeling from my house. If there's a highend condo in Spectrum area, I will certainly buy. But I really hate the condo in the area of Jamboree/405. It's not even as nice as "The Village" apartment.
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How about the the high rise condos off Jamboree and Campus?  Or the new CPW condos?
 
irvinebullhousing said:
Buy to live but never to invest in Irvine especially.
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Yes and No...I tend to agree with the sentiment, but I'm also not flush with cash to drop on real estate investment...50% appreciation in 10 years as OP desires might be wishful thinking, but even if there is a brief dip in the immediate future, simple laws of supply and demand dictate that prices will go up in Irvine in a 10 year span.  Irvine is starting to run out of room to build, already limited inventory, and the fact that irvine is still a young city and has many stable businesses all make real estate investment in Irvine a pretty stable one imo.  In the long run, you'll definitely make money...will it be500k? probably not, but its still more than sitting on the money or putting it in the bank.  plus being able to get use of it as a home for half the year makes it more attractive.  the cheapest 2br in the village runs about 2200/month...which roughly equates to 130k in 10 years at 6mo/year (almost certainly more cause shorter leases are more expensive or pay for the year term so you dont have to move in/out)

definitely buy SFR over condo, it will appreciate more.  Also just my opinion, but if you're gonna spend a mill, you should own some land, not 4 walls and a stake in the company that owns the land and the building you live in.  as far as where in irvine, that price range doesn't buy much in Quail Hill...at around 1.5mil+, QH becomes much more attractive.  Woodbury has a similar situation...lots of houses lower and hight, but nothingin that 800-1mill range.  Maybe a plan 1 or 2 Cortona in LagAlt?  If there is still a plan 2 maricopa in stonegate, might be worth it.  Northpark also has several nice houses, but the downside is it is technically tustin unified (though hicks/orchard/beckman is pretty impressive set of schools still).
 
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http://www.lennar.com/New-Homes/California/Orange-County/Irvine/Central-Park-West/The-Lennox
 
Have you considered Lambert Ranch in Portola Springs? It's a very nice, exclusive gated community with no Mello-Roos that I think is sure to appreciate significantly (despite its proximity to the landfill).

It's kind of insane that KB Home is building Garden Hill right next to it at about the same starting price, but for ridiculously less adequate homes. (E.g., they're side-by-side in that dead-end-alley instead of garage-to-street configuration.)
 
ahh yes...lambert ranch...completely forgot about that, just usually associate it with homes over a million, but there are some just under as well.  In that respect too, the new homes slated to start selling in just a few months in woodbridge and university park might be attractive as well.  woodbridge for its community ammenities, proximity to both major freeways and lots of schools will always be attractive in the resale market. 
 
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