How much does the Irvine Company hate this site?

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Trooper -



I always figured that people in certain "lines of work" never acknowledge that they are "in that line of work." Kind of like saying, let's put a bell on the cat.



I will agree that there are a lot of trolls/shills here. I just want to find out how much they get paid, and how to apply for their job.
 
blt, walk into any TIC apartment community and ask about getting on the affordable housing wait list. See also city of irvine website. http://www.ci.irvine.ca.us/depts/cd/planningactivities/affordablehse/default.aspI was refering to CPW not the Great Park, they can't just walk away from a building that's half complete.



TIC DOES NOT SELL NEW HOMES, and the majority of it's land value is in commercial property which up until a few months ago had been on the rise. Yes, the value of these apartments, retail and office has been on the slight decline due to the credit crunch, but it's so much more insulated from market swings compared to the for sale market.



IR, speculation as to the decline in net worth of Bren can only be guess as i know no of no one who's seen a balance sheet for TIC, but 50%? I believe that's far to bearish as much of Irvine has been built out and sold, and remaining large parcels are either not owned by TIC (great park and tustin base) or are set aside as permanent open space, farmland, or commercial use. Clearly, as their strong expansion into the nor cal, san diego, and even los angeles apartment and office markets signifies, they are diverting focus off of the Irvine Ranch for raw land development because they are simply running out.
 
Speaking of affordable housing, a couple of years ago I saw an ad in the Irvine World News for a low-income unit at the apartment complex in Turtle Rock for only $400/mo. Out of curiosity I called and they said that there was a 10 year wait.
 
<em>"IR, speculation as to the decline in net worth of Bren can only be guess as i know no of no one who's seen a balance sheet for TIC, but 50%?"</em>





I don't know how much the crash will impact his balance sheet, but if prices drop 40% from the peak, the value of his remaining raw land holdings will decline 85%. this is bound to have a significant impact on his net worth.
 
<p>TIC is really afraid of the consumers doing their home buying research online. Graphrix pointed out a very important clue. The major search engine Google places IHB near the top of most searches. Portola Springs for instance lead to important design comments and Feng Shui criterias that consumers could look into. I certainly do not want to live in an area that could bring bad luck or calamity to my family. </p>

<p>I learned about finances, mortgages and design from the smartest people on IHB. The design analysis and project evaluations are critical for consumers. I am making the most expensive and riskiest purchase of my life and why listen to the lying sales people or the attractive ads printed by TIC. </p>

<p>I read IHB for the honest answers. I do not want to have a house badly designed that I can't sell later or living in a community near toxic sites that I learned about on IHB. All the magazine and newspaper articles are for profits and they are not telling the truth about certain communities. My friends decided to wait on their purchase because of IHB. Bad press could shut down a bad project.</p>

<p>It is to the best interest of TIC to silence IR because he knows way too much about this industry and he is educating the buyers to be discriminate. TIC wants stupid buyers to buy their overly inflated homes designed and built by incompetent architects and builders. Too many potential homebuyers found IHB by doing their research. TIC would have to buy Google to prevent IHB from appearing near the top of most searches.</p>
 
<em>TIC DOES NOT SELL NEW HOMES





</em>Yes they do. I recommend, that you re-read my previous post. In 1992 The Bren Co. changed their name to <a href="http://www.calpacifichomes.com/findahome.php">California Pacific Homes</a>.





<em>Irvine Co. hires Bren firm</em>

<p><em>Homebuilding company will sell directly to public </em></p>

<p><em>May 6, 1992 </em></p>

<p><em>Byline: Andre Mouchard </em></p>

<p><em>The Orange County Register</em></p>

<p><em><strong>The Irvine Co. has taken the unusual step of hiring Chairman Donald Bren's homebuilding firm to build and sell houses directly to the public.</strong> </em></p>

<em>Bren's Newport Beach-based building company, which last month <strong>changed its name from The Bren Co. to California Pacific Homes</strong>, has been signed to build two neigborhoods, a 176-unit project in Newport Ridge, near Newport Coast, and an as-yet unspecified project in Irvine's Westpark II, according to Irvine Co.</em>

<p>The Irvine Company and California Pacific Homes are affiliates of <a onmouseover="return _(this,R,'912084')" href="http://www.secinfo.com/$/SEC/Registrant.asp?CIK=912084">the Company</a>.</p>

<p>CalPac = TIC = home builder.


</p>

<p> </p>
 
<p>jcaraway, although you didn't say it directly, there seems to be an implication by you that TIC is somehow 'dispassionate' about the value of homes; that they don't really care and the value doesn't affect them or their business.</p>

<p>Is this your stance?</p>

<p>SCHB</p>
 
Although it would be hard to pick a best thread during the 1+ year I have read IHB, this one has got to be in the Top 10. Thanks to everyone for your insights, this discussion is very entertaining.
 
<em>That's like saying, "i bought stock in lennar, therefore, i am now a homebuilder"





</em>Uh... sure buddy. Who is the CEO of CalPac? Oh... yeah... right... Cary Bren.
 
socal, no not at all, I just thought that TIC has no motive to be all that concerned with IHB as the vast majority of people in this thread claim. Sure, Bren is an advocate for the OC and I do think he blames the media in part for this crisis, but don't you think he has bigger fish to fry that speak negatively about the markets he's tied to (for-lease)? I don't think IHB has yet earned the honor of being on TIC's blacklist, which would make it the hero of many a renter, myself included.



I totally agree that the decline in value of homes will negatively affect their business, but i argue that it will have a negligible effect as lot development and investment in home sales has become a very small proportion of their portfolio. I admit i could be wrong as i've never reviewed their balance sheet, less than a handful of people have, but TIC's aim is essentially to become a property and asset management company. I think it should be obvious that the vast vast majority of tic's holdings are in apartments, retail, and resort, not for sale lot development. I'd argue that for sale lot development will be an opportunistic venture for TIC, who will continue to sell lots at high premiums to merchant builders or build apartments on them or sit on the land waiting for the next bubble, which i believe they can do due to owning the land outright with any operational expenses or the minimal carry funded by their apartment and office operations.
 
So if i'm the ceo of lennar, and my dad bought stock in the company, that makes my dad a homebuilder?



And lets say that TIC was involved with day to day operations with CalPac, these guys control 500 lots at most, all optioned from TIC, who as i mention before, has no urgency to reduce land values (see the ever so slow decline in home prices at portola). Marginal proportion of the irvine company portfolio is an understatement, this affiliate is a footnote.
 
However, there is one development i'm not sure about which could justify the claims that TIC is a little upset at IHB. There's a huge tract of land in anaheim currently being entitled by TIC, i don't know the history on it or the present status of entitlements. I'm thinking it was part of the irvine ranch and they have no hurry to develop but i could be wrong. Anyone know? Maybe out of IHB's scope as this is Anaheim.
 
"How much does the Irvine Company hate this site?"



i don't think they care the least, look at how many people are really doing discussions here, it's the core of 20 or so... this site might have changed someones mind here or there, but certainly no economic impact.



they might hate the market and the overall economy, but give me a break... this site... ? if they really would they would buy it for half a mill and shut it down...
 
<p>I believe The Irvine Company's behavior in attempting to preserve what were artificially high home prices shows they care plenty, regardless of what proportion of their portfolio this constitutes. </p>

<p>I don't know enough to offer an opinion on whether they care about IHB. But the rationale for TIC <strong>not </strong>caring about IHB can't be that they really aren't that concerned with the price of new homes.</p>

<p>SCHB</p>
 
Socal, Valid point, but I interpret it as TIC wanting to sell land at the top of the market. Other communities and builders, ie VOC are trying to undercut the market decline by rapidly decreasing prices due to off load product even at a loss to avoid mounting carry costs and other liabilities. Sure TIC cares, but if they REALLY cared, aka get rid of the land before it takes us under, I think they would be undercutting lennar development and we would have been seeing even more drastic price cuts through out new home prices in Irvine. Might be speaking out of place here as I don't know if Portola is not decling as rapidly as the lennar communities or if they are artifically proping up new home prices in irvine.



oh, one other reason TIC should be supporting IHB is that IHB showcases resales and that there are an alarming amount of really stupid sellers out there that are not in touch with the market. People are always looking to buy homes and if IHB is the first website that pops up on a google search, they'll see that if they buy a resale, they are going to buy something that is rapidly decling in value and in comprable price to new construction. At least with new, you don't have to look at the history of the upswing and decline, maybe the builder is more in tune with the market and trying to stay ahead, significant amount of concessions, home warranty, and that new home smell. Admittedly, yes, this thinking is a little naive, but i'm just throwing out what I think a young, newly married couple will be looking for.
 
If they really cared you would get a cease and desist for liable or slander. They would tie you up in legal fees. I think the Mortgage Implode guy went thru this with the Mortgage companies he was tracking as they bellied up.http://ml-implode.com/But again the free speech laws are hard to litigate against.
 
<em>"However, there is one development i'm not sure about which could justify the claims that TIC is a little upset at IHB. There's a huge tract of land in anaheim currently being entitled by TIC, i don't know the history on it or the present status of entitlements. I'm thinking it was part of the irvine ranch and they have no hurry to develop but i could be wrong. Anyone know? Maybe out of IHB's scope as this is Anaheim."





</em>jcaraway, are you referring to the Mountain Park 'village' in Anaheim Hills?


<a href="http://forums.irvinehousingblog.com/discussion/272/mountain-park-anaheim/" target="_blank">http://forums.irvinehousingblog.com/discussion/272/mountain-park-anaheim/</a>
 
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