Home Purchase Story

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enilorac

New member
Sort of long story but to summarize my husband and I have been living in Irvine for the past 6 years. We were convinced that we'd be priced out of home ownership in Irvine so we bought a 1bd1bath condo over at Avenue One in 2006 at the absolute peak. =( Six years later and with a toddler and infant, we just closed on our Las Ventanas home with great thanks to USC.

After our first child starting to become more mobile, we quickly felt claustrophobic in our two bedroom apartment (in Woodbury). We almost pulled the trigger on a Carmel home, but we contacted USC and he knocked some sense into us. We quickly built our wishlist and began our search...built after 2000, 4 bd with one downstairs, at least a 3/4 bath downstairs, single-family, laundry upstairs, 2-car attached garage, over 2000sqft, open kitchen, small yard for the kids and a driveway. We started with $1m budget mostly because there aren't that many homes that fit that description in Irvine.

We went thru the following neighborhoods...

Northpark (gated) - we really like but fairly priced homes moved faster than we were willing to take action
Northpark Square - our perception was always we'd rather like in the gated northpark
Northwood - few homes built post 2000, desirable homes moved faster than we were willing to take action
Northwood (2) - we really like this neighborhood, but many of the homes that came onto the market backed jeffrey or trabuco
Quail Hill - lack of the type of single family home in our size, but the larger homes are very nice just not in our price range
Woodbury - We like the neighborhood, but at the time we kept hearing that because it was in the Irvine high school zone and it was one of the neighborhoods that took biggest hit in Irvine
Tustin Ranch - Great homes but homes were built pre-2000 and many needed some updating

After putting in some offers on a few distressed homes that seemed like a "good deal" we found ourselves frustrated with the process and took a few breaks from home shopping along the way. We started looking seriously at the new developments in Portola Spings and Stonegate because of prices there seemed reasonable. We thought about pulling the trigger on Las Colinas, but USC convinced us to wait for Las Ventanas and we are very happy we did.

We had some reservations with the proximity to the toll road, but we waited for a lot a few rows in and a great corner location. Fast forward five months...we are now the proud owner of our Las Ventanas home. YAY!

Thanks to USC for his patience and understanding our home shopping needs and great referrals for our floors and window coverings!
 
It was my pleasure helping you guys find the right home at the right price, no matter how long it took.  We had a interesting journey along the way and being patient benefited you guys at the end of the day.  I'm looking forward to the housewarming party once you guys get settled into your new home.  And if you guys need anything else, don't hesitate to ask.

Btw, check your email....I sent you the contact info of one of my other buyers who can help you out with your landscape design.
 
Congratulations.

If it's not too invasive... what happened to your Ave 1 property?

So how is it living at Las Ventanas? I drove by there a while back and I like how the 'hood is turning out.

If they took those same homes and moved them closer to the southern area... like in Laguna Altura... we would have bought too.
 
congrats!  your situation is similar to ours but we never bought.  did you guys short sell your ave 1 place?

we live in ave 1 as well and when we moved here almost 2 years ago, and it was fun but with a 10 month old and only 1 elevator in our building, its becoming frustrating.  i cant imagine staying here with 2 kids but then again, i didnt imagine having a kid here either.
 
rkp said:
congrats!  your situation is similar to ours but we never bought.  did you guys short sell your ave 1 place?

we live in ave 1 as well and when we moved here almost 2 years ago, and it was fun but with a 10 month old and only 1 elevator in our building, its becoming frustrating.  i cant imagine staying here with 2 kids but then again, i didnt imagine having a kid here either.

Avenue One only has one elevator? Just to make sure, these are the condos on Jamboree,  right?
 
IndieDev said:
rkp said:
congrats!  your situation is similar to ours but we never bought.  did you guys short sell your ave 1 place?

we live in ave 1 as well and when we moved here almost 2 years ago, and it was fun but with a 10 month old and only 1 elevator in our building, its becoming frustrating.  i cant imagine staying here with 2 kids but then again, i didnt imagine having a kid here either.

Avenue One only has one elevator? Just to make sure, these are the condos on Jamboree,  right?


there are 3 buildings - A (main one with lobby and pool), B (across the main one), C (next to the vietnamese restaurant and across the 3000 high rise).  i honestly dont know the elevator situation in the A & C but we live in B and it only has 1 elevator.  its not a big deal normally but becomes a pain in the ass when someone is moving in our out.  I have literally taken the baby in the stroller and walked my way down 4 story parking.  its either that or try holding bags + baby + stroller + car seat down 4 flights of stairs.  not fun.

seriously, the 1 elevator and the door to parking space distance seem to be the biggest issues for us right now.
 
rkp said:
IndieDev said:
rkp said:
congrats!  your situation is similar to ours but we never bought.  did you guys short sell your ave 1 place?

we live in ave 1 as well and when we moved here almost 2 years ago, and it was fun but with a 10 month old and only 1 elevator in our building, its becoming frustrating.  i cant imagine staying here with 2 kids but then again, i didnt imagine having a kid here either.

Avenue One only has one elevator? Just to make sure, these are the condos on Jamboree,  right?


there are 3 buildings - A (main one with lobby and pool), B (across the main one), C (next to the vietnamese restaurant and across the 3000 high rise).  i honestly dont know the elevator situation in the A & C but we live in B and it only has 1 elevator.  its not a big deal normally but becomes a pain in the ass when someone is moving in our out.  I have literally taken the baby in the stroller and walked my way down 4 story parking.  its either that or try holding bags + baby + stroller + car seat down 4 flights of stairs.  not fun.

seriously, the 1 elevator and the door to parking space distance seem to be the biggest issues for us right now.

Are you renting this place or is it a purchase?

I'm pretty sure you could rent an actual 3/2 home in University Park, El Camino, or even some areas of West Park for the same rent in Avenue One.
 
IndieDev said:
rkp said:
IndieDev said:
rkp said:
congrats!  your situation is similar to ours but we never bought.  did you guys short sell your ave 1 place?

we live in ave 1 as well and when we moved here almost 2 years ago, and it was fun but with a 10 month old and only 1 elevator in our building, its becoming frustrating.  i cant imagine staying here with 2 kids but then again, i didnt imagine having a kid here either.

Avenue One only has one elevator? Just to make sure, these are the condos on Jamboree,  right?


there are 3 buildings - A (main one with lobby and pool), B (across the main one), C (next to the vietnamese restaurant and across the 3000 high rise).  i honestly dont know the elevator situation in the A & C but we live in B and it only has 1 elevator.  its not a big deal normally but becomes a pain in the ass when someone is moving in our out.  I have literally taken the baby in the stroller and walked my way down 4 story parking.  its either that or try holding bags + baby + stroller + car seat down 4 flights of stairs.  not fun.

seriously, the 1 elevator and the door to parking space distance seem to be the biggest issues for us right now.

Are you renting this place or is it a purchase?

I'm pretty sure you could rent an actual 3/2 home in University Park, El Camino, or even some areas of West Park for the same rent in Avenue One.


we like new and UP, EC, etc are old.  we are renting and scored a pretty good deal: $1775 for 2B with loft, 1200+sq ft.  first "owner" bought this unit for close to $700K and then short sold it to my landlord for $450K a couple years ago.  Same floorplans now go for $350K and I think they will fall even further.
 
Congrats!

Homebuying the second time around is better since you know what you want (and don't want) and you have been around the home buying block already so the process is not as mysterious and frustrating/scary as it was the first time around.

I agree USC gives good (not pushy) advice which I felt was in the best interest of me and not his pocketbook.

Enjoy your new home!!!
 
We still have the Ave1 property. We've managed to keep it rented and we come out pretty close to even although there is very little equity left in the place. We actually loved living there and didn't have too many problems with the elevator because we were on the first floor. It's a great location and great for singles or couples with pets. We thought about staying for a little while with our first child but I thought it would be a logistical nightmare. I even imagined buying a double stroller so I could take one baby and several bags of groceries back and forth in one trip. haha. We ended up moving 6 days before baby decided to show up early.

Living at LV is quiet since we're the first on the block.  So far these are my first observations/conclusions. I miss being able to stroller the kids to the Woodbury Town Center to pass time.  My first great discovery was the Foothill Ranch plaza one exit down the toll road.  I know it's very "un-Irvine" but I'm a sucker for Walmart and dollar stores and I've never seen a cleaner Chuck E Cheese.  Judging from the drive-bys and after meeting a few of our future neighbors, LV will be mostly young and growing families which is great for us.  Cell phone reception on my iPhone is much better than at Woodbury. Toll roads don't bother us.  I have to admit, I see a lot of garbage trucks en route to/from Sand Canyon at Portola Pkwy because I drive mostly during the daytime, but my husband doesn't notice it since he's at work.  It doesn't bother me, but I'm always aware that the landfill is there.

For us, we got everything we wanted in a home (in Irvine) and we'll be able to live here comfortably for the next 10-15 years.
 
enilorac said:
My first great discovery was the Foothill Ranch plaza one exit down the toll road.  I know it's very "un-Irvine" but I'm a sucker for Walmart and dollar stores and I've never seen a cleaner Chuck E Cheese. 
+1... we need a WalMart and Chuck E Cheese in Irvine (a Hometown Buffet too).
Cell phone reception on my iPhone is much better than at Woodbury.
+2
For us, we got everything we wanted in a home (in Irvine) and we'll be able to live here comfortably for the next 10-15 years.
+3

As long as you know you're in for an extended period of time... you're good.
 
Congratulation! LV is by far the best home compared to other IP, VD, and KB homes. I think Lambert Ranch would be a great addition to PS. I hope The New Home Company will price it fairly with the negative premium since it will be the closest to the jail.
 
davenlei said:
Congrats!

Homebuying the second time around is better since you know what you want (and don't want) and you have been around the home buying block already so the process is not as mysterious and frustrating/scary as it was the first time around.

I agree USC gives good (not pushy) advice which I felt was in the best interest of me and not his pocketbook.

Enjoy your new home!!!
You can blame my parents for raising me with a conscience and to do the right thing.  I wouldn't be able to sleep at night knowing if I knew that I "pushed" a buyer into a home that wasn't right for them just to make a commission.  Money comes and money goes, but good karma always comes back around.  Besides, I can't stand pushy people (including those pushy damn realtors out there).  haha
 
I've been by LV a couple of times as well and agree that its turning out pretty nicely.  I assumed that once some homes went up, it would drown out a bit of the toll road noise.  How has the noise been?
 
OK, I will also jump in here, despite my initial hesitancy (hence the username).  Las Ventanas has been a hot topic.

My fiance and I are proud to be Las Ventanas trailblazers, being one of the first two homes in.  We also worked with USCTrojanCPA, and I can only echo all the positives that he gets on this board.  He convinced us to look at LV and we are so glad that we did.  He does everything he says he does here on TalkIrvine.  No joke.  If you're unsure, email him.

Like many on here, we were first time homebuyers.  We were living in Newport Coast, and as much as we love that area (don't we all), we wanted out of the apartment life and a SFR was not an option there.  We're getting married next month and will look to have a family soon.  Getting a new home had tremendous appeal for us . . .  we both travel quite extensively for work and don't have time for fixer-up work . . . we want to come home to a house that's "done."

There are a lot of issues that come up about LV . . . you're probably wondering

"Hey tentative, what about the toll road?  You back up to the toll road?  Toll road toll road toll road"
Yes, we know it's there.  Yes, it makes noise, especially during the AM commute.  But I am being 100% honest when I say that it doesn't bother us.  The appeal of having a larger yard and no one behind us or on one side was greater than the appeal of being further away, but wedged in amongst other houses.  With the windows closed, we don't hear it.  Yes, the end lots against Arrowhead are probably the best ones in the development, but we didn't want to wait and play that lottery.

What kind of incentives did you get?
We were able to get some closing credits and appliance/upgrade incentives.  They obviously push you hard to use TM Home Funding so some things are tied to that.  I will say this, John and Laura in the sales were office were great.  They met every request, didn't put undue pressure on us and were genuinely concerned about us during the process.  Based on all our research, we feel that LV is the best value out there for new "true" SFR's.

It can't all be rosy, are you some kind of plant?
No.  There are definite negatives. 

1.  We were not big fans of TMHF.  We did get a good rate, but I found them unreliable and we were hit with huge Property Tax Assessment at close that they "didn't know about."  I find that unacceptable, given that it's the builder's lender.
2.  We'll be living in an immediate construction zone for another 18 months  and an extended one for the foreseeable future (Lambert Ranch, etc.) 
3.  The landfill trucks are annoying from a traffic perspective, especially at the Portola Pkwy/Sand Canyon intersection in the morning.
4.  I found the HOA main contact to be rude and dismissive the one time I had to call.
5.  No one knows where we are.  Mail has been an issue as our street doesn't pop up on Google maps and even  the guy at the Post Office had no idea where it was.  Many companies have address databases that auto-populate and when we don't come up things either get entered wrong or another similar sounding street pops up.
6.  Who knows what the hell is going to happen to the housing market and did we screw up buying here? 

All that being said, the positives have far outweighed the negatives, and I don't think anyone can answer #6.  (Though many on this board will continue to try!) It's a long-term plan for us and we're pleased.  Happy to answer other questions via PM.
 
blitzjs said:
I've been by LV a couple of times as well and agree that its turning out pretty nicely.  I assumed that once some homes went up, it would drown out a bit of the toll road noise.  How has the noise been?

The noise from the toll road has been negligible but I will be happy when the hammering, sawing, roach coach horns, and construction trucks are gone or move further down the road. I am tempted to go out for some ice cream when the truck sings its tune down the street. =D
 
enilorac said:
Living at LV is quiet since we're the first on the block.  So far these are my first observations/conclusions. I miss being able to stroller the kids to the Woodbury Town Center to pass time.  My first great discovery was the Foothill Ranch plaza one exit down the toll road.  I know it's very "un-Irvine" but I'm a sucker for Walmart and dollar stores and I've never seen a cleaner Chuck E Cheese. 

Can you get on the toll road and get off at the Foothill Ranch one exit down without paying a toll?
 
aealong said:
enilorac said:
Living at LV is quiet since we're the first on the block.  So far these are my first observations/conclusions. I miss being able to stroller the kids to the Woodbury Town Center to pass time.  My first great discovery was the Foothill Ranch plaza one exit down the toll road.  I know it's very "un-Irvine" but I'm a sucker for Walmart and dollar stores and I've never seen a cleaner Chuck E Cheese. 

Can you get on the toll road and get off at the Foothill Ranch one exit down without paying a toll?

No. It will still cost you $1.30.
https://www.thetollroads.com/
 
aealong said:
enilorac said:
Living at LV is quiet since we're the first on the block.  So far these are my first observations/conclusions. I miss being able to stroller the kids to the Woodbury Town Center to pass time.  My first great discovery was the Foothill Ranch plaza one exit down the toll road.  I know it's very "un-Irvine" but I'm a sucker for Walmart and dollar stores and I've never seen a cleaner Chuck E Cheese. 

Can you get on the toll road and get off at the Foothill Ranch one exit down without paying a toll?

There are "plans" to connect portola in irvine to portola in foothill, so in a few years you won't need to use the toll road.
 
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