Hugo Township
Active member
Ready2Downsize said:
That's odd. I moved to TR in 1992 and was assigned to Tustin Memorial. Sorry you got screwed.
Greenwood in Tustin Legacy
- Thread starter test
- Start date
NEW -> Contingent Buyer Assistance Program
That's odd. I moved to TR in 1992 and was assigned to Tustin Memorial. Sorry you got screwed.
The bang for the buck in greenwood is there in particular if you buy in the first phases. I can't imagine heritage becoming like Veeh, but I guess it's possible. Columbus square really rallied as a community to get the school open so I'm guessing the residents will send their kids their so it should be a good school. There are plenty of Asians here who value education as well, contrary to popular beliefs it's not only the irvine Asians who care about education. So let's say heritage does become Veeh, there is always the transfer option to a Tustin ranch school, there are plenty of schools up there and couldn't imagine one of them doesn't have an opening, especially as the kids from Tustin legacy come back to their home school.
With school aged kids there is more risk in buying there than for someone whose kids are done with school. But if you approach this logically I would think heritage becoming Veeh is low risk.
The discount to OH is 20-25% for comparable sized product. i think i calculated this in the crawford/stafford thread or maybe this one, it seems the discount is similar to Beacon Park. and the way PP resale is going the discount is probably bigger. I would agree the better strategy generally seems to be price higher with no MR. I didnt compare it to Stonegate since there isnt much left there.
I would say if you were willing to bet on the school situation being resolved, you'd probably win. I heard a few people trying to get detailed questions on the school and the sales agents all had a tough time. Some of them must read this site cause they were talking about kids being bused in from other districts, etc. That said, I would not bet against million dollar home owners rallying together to ensure district lines are redrawn and if you could turn those schools into TUSD schools, you should get TUSD pricing or close to it (in which case these homes would be good value buys).
All that said, the current regime of million dollar home owners has lost that battle to date, question is really whether the higher concentration from Greenwood pushes them over the top. Also, part of this is assuming that someone able to buy a home for $1M can also hold off a year or two and buy a different home in a location they prefer for 1.2M or whatever the delta is. That isn't always a realistic expectation either as the person going to the $1M might already be stretching themselves.
That's odd. I moved to TR in 1992 and was assigned to Tustin Memorial. Sorry you got screwed.
Ready2Downsize
Well-known member
They weren't open in 1989.
irvinehomeowner
Well-known member
I'm going to miss using Tustin Ranch Road as a quick way to get to central Tustin once Legacy builds out.
It's already getting crowded and it's only the apartments that are up.
It's already getting crowded and it's only the apartments that are up.
Need some sage advice....I've done my research and read a lot of posts about TUSD on this forum. I'm torn if I want to buy in Greenwood because I have a toddler that will be going to kindergarten in 2 years. I've read all about Veeh and the new Heritage school. Even if Heritage opens in 2 years, who is to say it won't be amother Veeh?
Is it worth the risks? Thoughts?
Is it worth the risks? Thoughts?
qwerty
Well-known member
Irvinian81 said:
The bang for the buck in greenwood is there in particular if you buy in the first phases. I can't imagine heritage becoming like Veeh, but I guess it's possible. Columbus square really rallied as a community to get the school open so I'm guessing the residents will send their kids their so it should be a good school. There are plenty of Asians here who value education as well, contrary to popular beliefs it's not only the irvine Asians who care about education. So let's say heritage does become Veeh, there is always the transfer option to a Tustin ranch school, there are plenty of schools up there and couldn't imagine one of them doesn't have an opening, especially as the kids from Tustin legacy come back to their home school.
With school aged kids there is more risk in buying there than for someone whose kids are done with school. But if you approach this logically I would think heritage becoming Veeh is low risk.
I wouldn't expect Heritage to deteriorate like Veeh in the short-mid term. TUSD needs to maintain a visible standard of quality for the foreseeable future so that the City of Tustin will continue to approve additional CFD funding for them as the residential buildout continues at Legacy. With 50% more homes being built than originally planned, TUSD has a lot of $ at stake, and they're gonna do everything possible to keep the flow coming in.
That said, I will always question TUSD's agenda with respect to its decisions in this area. Homeowners' interests haven't been met for the last 5-8 years, and although there was a strong rally from the residents of CS to open Heritage, I attribute its scheduled opening date in 2016 to the timing of Greenwood's development and the (yet-to-be-approved) CFD attached to those upper-scale properties.
Qwerty makes a ton of valid points, so this isn't meant to contradict his statements...I'm just offering my point of view having lived in CS since its inception.
Oh, and by the way...Beacon Park school hasn't even broken ground on construction, and will open its doors in Fall 2016. Heritage was completed in 2011, and MIGHT open its doors in Fall 2016... Fun comparing a rotten apple with a gold plated orange no?
That said, I will always question TUSD's agenda with respect to its decisions in this area. Homeowners' interests haven't been met for the last 5-8 years, and although there was a strong rally from the residents of CS to open Heritage, I attribute its scheduled opening date in 2016 to the timing of Greenwood's development and the (yet-to-be-approved) CFD attached to those upper-scale properties.
Qwerty makes a ton of valid points, so this isn't meant to contradict his statements...I'm just offering my point of view having lived in CS since its inception.
Oh, and by the way...Beacon Park school hasn't even broken ground on construction, and will open its doors in Fall 2016. Heritage was completed in 2011, and MIGHT open its doors in Fall 2016... Fun comparing a rotten apple with a gold plated orange no?
Beacon park school broke (potentially contaminated) ground on April fools day 2015 >
@irv81: I think the school situation will work itself out. Just be prepared for some headaches along the way if TUSD doesn't get its act together. But hey, there's a reason the pricing is anticipated to be "attractive" right? If all was perfect, you would be paying a premium.
@irv81: I think the school situation will work itself out. Just be prepared for some headaches along the way if TUSD doesn't get its act together. But hey, there's a reason the pricing is anticipated to be "attractive" right? If all was perfect, you would be paying a premium.
qwerty
Well-known member
irvinian81 - are you considering new construction in irvine if so, what tracts?
i knew about the school situation when i bought here, but figured if the local school didnt work out, i could do a tustin ranch school and if that didnt work out, we would just do private school. ultimately, the location, floor plan/3CWG, and price won us over.
i knew about the school situation when i bought here, but figured if the local school didnt work out, i could do a tustin ranch school and if that didnt work out, we would just do private school. ultimately, the location, floor plan/3CWG, and price won us over.
Thanks for the feedback. I know transfer to the Tustin Ranch school is another option, but hard to say what will happen in 2 years. I heard from a friend that uses to work for TUSD that Peters Canyon is full and has been turning away transfer. I also heard there is a magnet school but you have to enter a lottery. My friend just bought in Tustin Ranch and was able to get his kids into the magnet school.
Regarding other new constructions, I've also been posting a lot on the Beacon Park thread. There are pros/cons with each. Obviously the cons with BP have been well talked about on this forum. There are too many unknowns with BP and the direction of the GP. With Greenwood, I like the central location and the fact that it's a small comminity. I've been at Woodbury for the last 8 yeaes and it's getting WAY too crowded. I think I will enjoy a smaller neighborhood.
Regarding other new constructions, I've also been posting a lot on the Beacon Park thread. There are pros/cons with each. Obviously the cons with BP have been well talked about on this forum. There are too many unknowns with BP and the direction of the GP. With Greenwood, I like the central location and the fact that it's a small comminity. I've been at Woodbury for the last 8 yeaes and it's getting WAY too crowded. I think I will enjoy a smaller neighborhood.
irvinehomeowner
Well-known member
If I had to choose between Beacon Park and Greenwood, I would choose Beacon Park.
Even if it were a 10-20% difference, I think BP will have a bigger lot, a nicer layout and more upside.
While location-wise, Greenwood is probably more convenient for us, Irvine is Irvine and Tustin is Tustin.
#SorryQwerwood
Even if it were a 10-20% difference, I think BP will have a bigger lot, a nicer layout and more upside.
While location-wise, Greenwood is probably more convenient for us, Irvine is Irvine and Tustin is Tustin.
#SorryQwerwood
Also don't undervalue the ability to walk your kid(s) to a k-8 school for 9 years. Plus iirc, BP is around 1100 homes. Way fewer than your current woodbury situation.
And doesn't the transfer situation negate the convenience of greenwood. Doesn't seem too convenient to have to drive your kid up to tustin ranch and then double back to get to work (assuming you don't pass TR on the way to work).
And doesn't the transfer situation negate the convenience of greenwood. Doesn't seem too convenient to have to drive your kid up to tustin ranch and then double back to get to work (assuming you don't pass TR on the way to work).
thelandofnoland
New member
Please contact me athttp://thenewhomeblog.wix.com/the-new-home-blogfor more information on the original post. Thank you.
irvinehomeowner
Well-known member
Finally reviewed all the floorplans again over the weekend... I like them... but it's not much of a discount over new/resale Irvine homes so why would you risk buying there with the proximity to Jamboree, high MRs, high association and mystery school situation?
If the 3-car garage homes were $750k like Qwerlumbus Square, I can see some draw... but at over $1m... it just doesn't pencil. At $850k, that would be tempting... but spending that much in Tustin with MRs is crazy.
Don't charge MRs, and bump up the price... or charge MRs and discount.
If the 3-car garage homes were $750k like Qwerlumbus Square, I can see some draw... but at over $1m... it just doesn't pencil. At $850k, that would be tempting... but spending that much in Tustin with MRs is crazy.
Don't charge MRs, and bump up the price... or charge MRs and discount.
qwerty
Well-known member
irvinehomeowner said:
The discount to OH is 20-25% for comparable sized product. i think i calculated this in the crawford/stafford thread or maybe this one, it seems the discount is similar to Beacon Park. and the way PP resale is going the discount is probably bigger. I would agree the better strategy generally seems to be price higher with no MR. I didnt compare it to Stonegate since there isnt much left there.
Roughly speaking you can get Stonegate new construction around 400/ft (before options, etc) with HOA ~110 and Mella Roos on larger houses between 4500 - 5500 or so (I think 3000 sq ft homes are about 4500). You might need to recalculate your factor though, I think it is trending closer to 20% (+/- a couple percent) depending on what PP comes out at. I would expect OH to be priced higher as it gets a "premium" billing already.qwerty said:
I would say if you were willing to bet on the school situation being resolved, you'd probably win. I heard a few people trying to get detailed questions on the school and the sales agents all had a tough time. Some of them must read this site cause they were talking about kids being bused in from other districts, etc. That said, I would not bet against million dollar home owners rallying together to ensure district lines are redrawn and if you could turn those schools into TUSD schools, you should get TUSD pricing or close to it (in which case these homes would be good value buys).
All that said, the current regime of million dollar home owners has lost that battle to date, question is really whether the higher concentration from Greenwood pushes them over the top. Also, part of this is assuming that someone able to buy a home for $1M can also hold off a year or two and buy a different home in a location they prefer for 1.2M or whatever the delta is. That isn't always a realistic expectation either as the person going to the $1M might already be stretching themselves.