How do you think about Northwood Pointe now?

[huuur]

I was searching through historical posts and saw 5 years ago, Northwood Pointe was rated pretty high in this community. What do you think about it now?

I've noticed that the price appreciation in Northwood pointe has slowed down since 2014, probably due to new houses in Orchard Hills, Eastwood, Stonegate?

Pros: bigger yard, close to trails, good schools, gated community, not so old houses, not crazy expensive
Cons: layout not as good as newer houses, probably slower price appreciation, possibly smell from the AAA factory

Anything I am missing?

 

[Mety]

I was searching through historical posts and saw 5 years ago, Northwood Pointe was rated pretty high in this community. What do you think about it now?

I've noticed that the price appreciation in Northwood pointe has slowed down since 2014, probably due to new houses in Orchard Hills, Eastwood, Stonegate?

Pros: bigger yard, close to trails, good schools, gated community, not so old houses, not crazy expensive
Cons: layout not as good as newer houses, probably slower price appreciation, possibly smell from the AAA factory

Anything I am missing?

You missed that the competitor of The Irvine Company forgot to analyze how the smell from the AAA suddenly stops at Northwood Pointe area.

Jokes aside, I think the community is really good especially those big SFRs. I did read some crime reports more frequent in that area compare to other newer Irvine communities. Nothing too serious from recent report though. I don't know if they slowed down in terms of appreciation. I think they've been fine. It's just that price range of bigger homes usually taking more time than smaller condos. Good luck!

 

[TestingIrvine]

Northwood Pointe pointe homes were mostly built pre 2000s.

Of course they will appreciate less than Stonegate, Eastwood and Orchard Hills.

Who keeps bringing up AAA smell?LOLLLLL

 

[Mety]

Do older homes appreciate less in general? I haven't really seen that in Irvine. Look at Turtle Rock and Woodbridge homes. They're as old as your granny, but sells in ridiculously high prices.

 

[huuur]

I pulled the last 5 years price trend from Redfin - they might not be 100% accurate, but it seems to me that Northwood Pointe is appreciating even slower than Woodbridge & Turtle Rock.
This match my observation from reading historical price trend in that area.  I think WB and TR are unique enough and people buying there are not considering new homes

My hypothesis is that Northwood Pointe was the premium community prior to 2014/15 and it is priced higher than market. When the new homes in the north begin to show up (Stonegate, Eastwood, Orchard Hills) , Northwood Pointe home appreciation was stagnant.  With recent price hike,  Northwood pointe home price is getting closer to Stonegate.

Just my hypothesis though.

With that said, what do you think of moving forwards? Do you feel future appreciation of NW will catch up with the market, or will continue to be slower than newer homes?

 

[Sidehussle]

Old floorplans and outdated finishes put downward pressure on prices. Nothing in NP is really turnkey by today's standards and it takes too much effort to gut and remodel 4k sq feet.

 

[sleepy5136]

Old floorplans and outdated finishes put downward pressure on prices. Nothing in NP is really turnkey by today's standards and it takes too much effort to gut and remodel 4k sq feet.

yup and with cost of materials + labor + land cost all going up and supply chain shortages, these homes that need to be renovated aren't so attractive compared to something new where you don't really need to do much work to it. Totally a different argument if you can DIY a lot of the renovations though.

 

[huuur]

The old floor plan + outdated finishes put downward pressure on price makes a lot of sense.

That doesn't seem to apply to Turtle Rock and Woodbridge's SFH, likely because Northwood Pointe is not unique enough. 

Among the newer communities, how do you feel like the appreciation potential of Stonegate, comparing to Eastwood and Orchard hills?