Is it just me or are the Woodbury resales overpriced?

[OCMommy]

The funny thing about perceptions ... I have had several people tell me that since I am moving and spending a crazy amount of money (everyone thinks Irvine does not make financial sense), I should "do it right" and get into Irvine schools.  This has come from people at work and multiple people that do not even have kids.

It is so easy to give that advice when they are not spending their money!!!!

 

[Irvine2Irvine]

For those who are not familiar, Woodbury elementary used to be called El Camino Real and was located near Walnut and Yale.  They close down the school and move all the teachers to Woodbury Elementary.  El Camino Real elementary has been a lower performing school (API score wise) in Irvine for a long time.  It's still good, but lower than most Elementary schools in Irvine.  I never understood what the reason was, but it just has been.

I posted a thread with my theory about that:
http://www.talkirvine.com/index.php?topic=959.0

For Woodbury... it may be the combination of what you are saying and with the fact that it is year-round. I take it that it still services the El Camino area kids so that might be another factor.

Hmm... maybe we'll get the Education and Parenting sections of this board going after all.

Woodbury gave up a lot of its students to Greentree elementary.  Many of the kids they gave up were from apartments, condos, and trailer parks in an old neighborhood.  So, I thought their score would go up significantly and Greentree's score would go down.  Surprisingly, Woodbury stayed low and Greentree didn't go down much at all.  That just points finger at the quality of teachers, if you ask me.  BTW, my kids went to Greentree and have friends from El Camino Real (old Woodbury), so I know many parents whose kids went to El Camino Real and goes to Woodbury.

 

[locolocal]

Woodbury gave up a lot of its students to Greentree elementary.  Many of the kids they gave up were from apartments, condos, and trailer parks in an old neighborhood.

Really?  Are you saying that those 55+ year-old-grannies who live in the trailer park are now attending Greentree Elementary so they can get their GED?

 

[OCMommy]

Pat Star -

That made me laugh .... Actually, when passing by Northpark and parts of Northwood, we thought the Guard was overkill too!

However, after going into Northpark, we kind of liked it and were actually quite suprised by that. 

 

[irvinehomeowner]

Personally... I don't like gated communities... just like detached garages... I don't want to have to go through multiple doors/gates just to get home.

 

[usctrojancpa]

*FLAME SUIT ON*  I know what I'm about to say many of the folks who are Woodbury fans will not like or agree with but I'll say it anyways.  I think that Portola Springs is better place to buy a home (in general) than Woodbury/WBE/Stonegate/SE.  It's funny how so many people think that Portola Springs is SO FAR OUT THERE when it's about a 1.5 mile drive from Woodbury.  Hell, I live in Oak Creek and Woodbury is FAR OUT THERE for me.  haha  Yes, Portola Springs has higher Mello Roos and is close to fire danger but so will the northern part of Orchard Hills.  The reality is that TIC has not thrown it's marketing/PR muscle behind selling Portola homes yet (their focus is been to finish off selling homes in Woodbury) so Portola is sort of the ugly red-headed step child for now.  Also, I think that Woodbury feels a bit too cramped (kinda like a sardine can) because the density is too high with all the attached condos, apartments, and tiny lots.  I'd pick Northwood II, Northpark, or Northwood Pointe if I wanted to buy in the north part of Irvine.  Mark my words, in 7-10 years when Portola Springs is built out and TIC has done their thing in terms of marketing and PR, Portola will be selling for the same or great per SF price than Woodbury despite the higher Mello Roos.  *FLAME SUIT OFF*

 

[blitzjs]

*FLAME SUIT ON*  I know what I'm about to say many of the folks who are Woodbury fans will not like or agree with but I'll say it anyways.  I think that Portola Springs is better place to buy a home (in general) than Woodbury/WBE/Stonegate/SE.  It's funny how so many people think that Portola Springs is SO FAR OUT THERE when it's about a 1.5 mile drive from Woodbury.  Hell, I live in Oak Creek and Woodbury is FAR OUT THERE for me.  haha  Yes, Portola Springs has higher Mello Roos and is close to fire danger but so will the northern part of Orchard Hills.  The reality is that TIC has not thrown it's marketing/PR muscle behind selling Portola homes yet (their focus is been to finish off selling homes in Woodbury) so Portola is sort of the ugly red-headed step child for now.  Also, I think that Woodbury feels a bit too cramped (kinda like a sardine can) because the density is too high with all the attached condos, apartments, and tiny lots.  I'd pick Northwood II, Northpark, or Northwood Pointe if I wanted to buy in the north part of Irvine.  Mark my words, in 7-10 years when Portola Springs is built out and TIC has done their thing in terms of marketing and PR, Portola will be selling for the same or great per SF price than Woodbury despite the higher Mello Roos.  *FLAME SUIT OFF*

If you think PS is going to be worth about the same price/sq ft in 7-10 years, what makes PS a better buy than WB?  Wouldn't it be equivalent?  Right now I'm weighing my options for WB vs PS and I'd like to hear what others have to say.  For me, there's no SFR in the 650k range in Woodbury (other than Cachettes) but Sevilla and Casero look promising to me (floor plan wise).  I've read a few others on this board expressing the same opinion that PS will be a better buy in the long term but I haven't seen any reasons behind it. 

Is it simply because its cheaper right now since its out in the boonies and the value will appreciate once the village center, schools and everything else is built out whereas Woodbury will appreciate much slower? 

 

[irvinehomeowner]

While I like the PS area better... it's just funny to me that it's pseudo hillside property. The only homes that really take advantage of the elevations are the super expensive Sierra ones.

And it's not that it's not very far from Woodbury... it's that Woodbury is already far and PS is far*THER* and to get to any 3rd place amenity (eat/shop/workout) you have to drive to get there. Your kids can't even walk to school.

 

[usctrojancpa]

*FLAME SUIT ON*  I know what I'm about to say many of the folks who are Woodbury fans will not like or agree with but I'll say it anyways.  I think that Portola Springs is better place to buy a home (in general) than Woodbury/WBE/Stonegate/SE.  It's funny how so many people think that Portola Springs is SO FAR OUT THERE when it's about a 1.5 mile drive from Woodbury.  Hell, I live in Oak Creek and Woodbury is FAR OUT THERE for me.  haha  Yes, Portola Springs has higher Mello Roos and is close to fire danger but so will the northern part of Orchard Hills.  The reality is that TIC has not thrown it's marketing/PR muscle behind selling Portola homes yet (their focus is been to finish off selling homes in Woodbury) so Portola is sort of the ugly red-headed step child for now.  Also, I think that Woodbury feels a bit too cramped (kinda like a sardine can) because the density is too high with all the attached condos, apartments, and tiny lots.  I'd pick Northwood II, Northpark, or Northwood Pointe if I wanted to buy in the north part of Irvine.  Mark my words, in 7-10 years when Portola Springs is built out and TIC has done their thing in terms of marketing and PR, Portola will be selling for the same or great per SF price than Woodbury despite the higher Mello Roos.  *FLAME SUIT OFF*

If you think PS is going to be worth about the same price/sq ft in 7-10 years, what makes PS a better buy than WB?  Wouldn't it be equivalent?  Right now I'm weighing my options for WB vs PS and I'd like to hear what others have to say.  For me, there's no SFR in the 650k range in Woodbury (other than Cachettes) but Sevilla and Casero look promising to me (floor plan wise).  I've read a few others on this board expressing the same opinion that PS will be a better buy in the long term but I haven't seen any reasons behind it. 

Is it simply because its cheaper right now since its out in the boonies and the value will appreciate once the village center, schools and everything else is built out whereas Woodbury will appreciate much slower? 

*FLAME SUIT ON*  I know what I'm about to say many of the folks who are Woodbury fans will not like or agree with but I'll say it anyways.  I think that Portola Springs is better place to buy a home (in general) than Woodbury/WBE/Stonegate/SE.  It's funny how so many people think that Portola Springs is SO FAR OUT THERE when it's about a 1.5 mile drive from Woodbury.  Hell, I live in Oak Creek and Woodbury is FAR OUT THERE for me.  haha  Yes, Portola Springs has higher Mello Roos and is close to fire danger but so will the northern part of Orchard Hills.  The reality is that TIC has not thrown it's marketing/PR muscle behind selling Portola homes yet (their focus is been to finish off selling homes in Woodbury) so Portola is sort of the ugly red-headed step child for now.  Also, I think that Woodbury feels a bit too cramped (kinda like a sardine can) because the density is too high with all the attached condos, apartments, and tiny lots.  I'd pick Northwood II, Northpark, or Northwood Pointe if I wanted to buy in the north part of Irvine.  Mark my words, in 7-10 years when Portola Springs is built out and TIC has done their thing in terms of marketing and PR, Portola will be selling for the same or great per SF price than Woodbury despite the higher Mello Roos.  *FLAME SUIT OFF*

If you think PS is going to be worth about the same price/sq ft in 7-10 years, what makes PS a better buy than WB?  Wouldn't it be equivalent?  Right now I'm weighing my options for WB vs PS and I'd like to hear what others have to say.  For me, there's no SFR in the 650k range in Woodbury (other than Cachettes) but Sevilla and Casero look promising to me (floor plan wise).  I've read a few others on this board expressing the same opinion that PS will be a better buy in the long term but I haven't seen any reasons behind it. 

Is it simply because its cheaper right now since its out in the boonies and the value will appreciate once the village center, schools and everything else is built out whereas Woodbury will appreciate much slower? 

I like the local better than Woodbury because of it's higher elevation (sorta like Quail Hill versus Oak Creek).  Also, I think the density will be lower in Portola Springs due to the terrain and less number of apartments.  You also won't have to deal with all those trucks heading up and down Sand Canyon (Portola Parkway will not have as heavy traffic as Sand Canyon or even Jeffery).  As I mentioned, TIC has not done a good job in marketing Portola Springs yet.  We all know that perception becomes reality after the TIC marketing team is done with it.  Also, there will be many low income housing units (both rental and for-sale units) that will be constructed around Woodbury.  I think the the price per SF for homes in PS will be on par with those in Woodbury in the future after PS is fully built out (despite the higher Mello Roos).  To me, if I had to spend mid-to-high $300/sf for Woodbury versus low $300/sf in PS it's an easy choice....PS all the way. 

 

[usctrojancpa]

While I like the PS area better... it's just funny to me that it's pseudo hillside property. The only homes that really take advantage of the elevations are the super expensive Sierra ones.

And it's not that it's not very far from Woodbury... it's that Woodbury is already far and PS is far*THER* and to get to any 3rd place amenity (eat/shop/workout) you have to drive to get there. Your kids can't even walk to school.

Isn't there gonna be a shopping center built in PS along with a school?

 

[usctrojancpa]

Anyone who was around here in October 2007 would think twice before buying in PS or OH.  Sand Canyon north of Irvine Blvd. was blocked to all traffic by OCFA.  The 3 inches of ash looked like nuclear winter, even in WB.  At one point, even the WB Town Center was evacuated.

Yes, the brush has been "cleared to code" in PS...tell that to the flames during a Santa Ana wind.

That's the potential price you have to pay living in a hillside area.  The same kind of fire can start along the 133 between Quail Hill/LC and Laguna Beach. 

 

[irvinehomeowner]

Isn't there gonna be a shopping center built in PS along with a school?

There is still plans for a proposed retail center on the east side of the lower enclave but I believe the elementary school is years away as it's on the upper east area which no plans for constructions of homes has been announced. Another school site is on the proposed list for the lower east area but that's probably less of a chance than the elementary school.

So yeah... in 7-10 years like you said... but by that time... my kids won't be in elementary so not very useful if I'm looking to buy in 0-2 years.

 

[usctrojancpa]

Isn't there gonna be a shopping center built in PS along with a school?

There is still plans for a proposed retail center on the east side of the lower enclave but I believe the elementary school is years away as it's on the upper east area which no plans for constructions of homes has been announced. Another school site is on the proposed list for the lower east area but that's probably less of a chance than the elementary school.

So yeah... in 7-10 years like you said... but by that time... my kids won't be in elementary so not very useful if I'm looking to buy in 0-2 years.

But might be a good pick for younger couples who are planning on having kids or who just had kids not older timers like you.  haha  Just like Woodbury, once TIC rolls up their marketing/PR sleeve and gets to work on selling PS homes they'll sell at a similar pace as Woodbury.

 

[blitzjs]

*FLAME SUIT ON*  I know what I'm about to say many of the folks who are Woodbury fans will not like or agree with but I'll say it anyways.  I think that Portola Springs is better place to buy a home (in general) than Woodbury/WBE/Stonegate/SE.  It's funny how so many people think that Portola Springs is SO FAR OUT THERE when it's about a 1.5 mile drive from Woodbury.  Hell, I live in Oak Creek and Woodbury is FAR OUT THERE for me.  haha  Yes, Portola Springs has higher Mello Roos and is close to fire danger but so will the northern part of Orchard Hills.  The reality is that TIC has not thrown it's marketing/PR muscle behind selling Portola homes yet (their focus is been to finish off selling homes in Woodbury) so Portola is sort of the ugly red-headed step child for now.  Also, I think that Woodbury feels a bit too cramped (kinda like a sardine can) because the density is too high with all the attached condos, apartments, and tiny lots.  I'd pick Northwood II, Northpark, or Northwood Pointe if I wanted to buy in the north part of Irvine.  Mark my words, in 7-10 years when Portola Springs is built out and TIC has done their thing in terms of marketing and PR, Portola will be selling for the same or great per SF price than Woodbury despite the higher Mello Roos.  *FLAME SUIT OFF*

If you think PS is going to be worth about the same price/sq ft in 7-10 years, what makes PS a better buy than WB?  Wouldn't it be equivalent?  Right now I'm weighing my options for WB vs PS and I'd like to hear what others have to say.  For me, there's no SFR in the 650k range in Woodbury (other than Cachettes) but Sevilla and Casero look promising to me (floor plan wise).  I've read a few others on this board expressing the same opinion that PS will be a better buy in the long term but I haven't seen any reasons behind it. 

Is it simply because its cheaper right now since its out in the boonies and the value will appreciate once the village center, schools and everything else is built out whereas Woodbury will appreciate much slower? 

*FLAME SUIT ON*  I know what I'm about to say many of the folks who are Woodbury fans will not like or agree with but I'll say it anyways.  I think that Portola Springs is better place to buy a home (in general) than Woodbury/WBE/Stonegate/SE.  It's funny how so many people think that Portola Springs is SO FAR OUT THERE when it's about a 1.5 mile drive from Woodbury.  Hell, I live in Oak Creek and Woodbury is FAR OUT THERE for me.  haha  Yes, Portola Springs has higher Mello Roos and is close to fire danger but so will the northern part of Orchard Hills.  The reality is that TIC has not thrown it's marketing/PR muscle behind selling Portola homes yet (their focus is been to finish off selling homes in Woodbury) so Portola is sort of the ugly red-headed step child for now.  Also, I think that Woodbury feels a bit too cramped (kinda like a sardine can) because the density is too high with all the attached condos, apartments, and tiny lots.  I'd pick Northwood II, Northpark, or Northwood Pointe if I wanted to buy in the north part of Irvine.  Mark my words, in 7-10 years when Portola Springs is built out and TIC has done their thing in terms of marketing and PR, Portola will be selling for the same or great per SF price than Woodbury despite the higher Mello Roos.  *FLAME SUIT OFF*

If you think PS is going to be worth about the same price/sq ft in 7-10 years, what makes PS a better buy than WB?  Wouldn't it be equivalent?  Right now I'm weighing my options for WB vs PS and I'd like to hear what others have to say.  For me, there's no SFR in the 650k range in Woodbury (other than Cachettes) but Sevilla and Casero look promising to me (floor plan wise).  I've read a few others on this board expressing the same opinion that PS will be a better buy in the long term but I haven't seen any reasons behind it. 

Is it simply because its cheaper right now since its out in the boonies and the value will appreciate once the village center, schools and everything else is built out whereas Woodbury will appreciate much slower? 

I like the local better than Woodbury because of it's higher elevation (sorta like Quail Hill versus Oak Creek).  Also, I think the density will be lower in Portola Springs due to the terrain and less number of apartments.  You also won't have to deal with all those trucks heading up and down Sand Canyon (Portola Parkway will not have as heavy traffic as Sand Canyon or even Jeffery).  As I mentioned, TIC has not done a good job in marketing Portola Springs yet.  We all know that perception becomes reality after the TIC marketing team is done with it.  Also, there will be many low income housing units (both rental and for-sale units) that will be constructed around Woodbury.  I think the the price per SF for homes in PS will be on par with those in Woodbury in the future after PS is fully built out (despite the higher Mello Roos).  To me, if I had to spend mid-to-high $300/sf for Woodbury versus low $300/sf in PS it's an easy choice....PS all the way.

This brings up an interesting point.  I know TIC was complaining that it had to build more low income units than its fair share when it comes to population percentage compared to the rest of OC.  Woodbury has now 2 apartment complexes for low income housing, Woodbury Walk and Woodbury Arbor. 

Does anyone know what the plans are for additional units for WB, SE, WBE, and PS? I'd imagine the new low income units would be distributed evenly across the communities (except for maybe WB since it already has some?).

 

[usctrojancpa]

Anyone who was around here in October 2007 would think twice before buying in PS or OH.  Sand Canyon north of Irvine Blvd. was blocked to all traffic by OCFA.  The 3 inches of ash looked like nuclear winter, even in WB.  At one point, even the WB Town Center was evacuated.

Yes, the brush has been "cleared to code" in PS...tell that to the flames during a Santa Ana wind.

That's the potential price you have to pay living in a hillside area.  The same kind of fire can start along the 133 between Quail Hill/LC and Laguna Beach. 

Just make sure you factor in higher insurance rates along with the higher Mello.  When I was getting homeowners insurance quotes for my place (and this was BEFORE the fire) one company wouldn't issue a policy because he said WB was redlined on his map as a fire danger.  I thought it odd at the time and had no trouble getting quotes from other companies.  But there were a couple times during the fire I thought he might have been right.

Just pends on the insurance company.  One of my buyers who bought a home in Laguna Niguel couldn't get a homeowner's policy from his auto insurance company because they told him he was too close to a hillside (that was BS because he wasn't that close at all).  Needless to say, he shopped around and found a carrier that quoted him a very reasonable rate.  Just proves that you have to shop around.

 

[locolocal]

Anyone who was around here in October 2007 would think twice before buying in PS or OH.  Sand Canyon north of Irvine Blvd. was blocked to all traffic by OCFA.  The 3 inches of ash looked like nuclear winter, even in WB.  At one point, even the WB Town Center was evacuated.

Yes, the brush has been "cleared to code" in PS...tell that to the flames during a Santa Ana wind.

Anyone who was around here in October 1993 knows that Laguna Beach (east of PCH) and Turtle Rock almost burned to the ground.  Back then there was no Crystal Cove, Newport Coast,  Turtle Ridge, Shady Canyon, UCI housing off of Culver, Quail Hill, those apartments near Bonita Canyon/Shady Canyon, the Jewish school, the Christian church row, the toll road.

 

[iacrenter]

Many of the people I know living in Woodbury have their kids in private schools and the ones that have their kids in Public have them at Stonegate.

Another thought that I had about IUSD versus TUSD is that with the budget state crisis and Public school going downhill in general.  Does IUSD have more "other funding from other groups" and over time will that make a difference.  I have not researched this.  Again, this goes back to wanting to make the perfect decision and no decision is perfect!

OC Mommy and others interested in discussing private schooling in Orange County please join my new thread. I would be interested to hear your thoughts:
http://www.talkirvine.com/index.php?topic=1178.0

 

[iacrenter]

Personally... I don't like gated communities... just like detached garages... I don't want to have to go through multiple doors/gates just to get home.

I sort of agree with Pstar on gated communities. It does give you a sense of security and grandness when driving past a guard gate but it in the end it is all fluff. Who really needs a guard gate in one of the nation's safest cities?

In the end I know it is mostly for show. You can easily bypass security during working hours by going to an open house or after hours by walking/biking in through the numerous pedestrian gates.

 

[Irvine2Irvine]

Personally... I don't like gated communities... just like detached garages... I don't want to have to go through multiple doors/gates just to get home.

I sort of agree with Pstar on gated communities. It does give you a sense of security and grandness when driving past a guard gate but it in the end it is all fluff. Who really needs a guard gate in one of the nation's safest cities?

In the end I know it is mostly for show. You can easily bypass security during working hours by going to an open house or after hours by walking/biking in through the numerous pedestrian gates.

Don't many gated communities also have camera at the entrance?  If I were a thief or a robber, I would avoid places where they will take a picture of my licence plate.  I did not get a house in a gated community, although I would have if it were for my wife's desire for a NEW house.  I think the gated communities do provide an extra level of secuirty.  I may be a very shallow lever of security, but it can't hurt!!

 

[iacrenter]

Personally... I don't like gated communities... just like detached garages... I don't want to have to go through multiple doors/gates just to get home.

I sort of agree with Pstar on gated communities. It does give you a sense of security and grandness when driving past a guard gate but it in the end it is all fluff. Who really needs a guard gate in one of the nation's safest cities?

In the end I know it is mostly for show. You can easily bypass security during working hours by going to an open house or after hours by walking/biking in through the numerous pedestrian gates.

Don't many gated communities also have camera at the entrance?  If I were a thief or a robber, I would avoid places where they will take a picture of my licence plate.  I did not get a house in a gated community, although I would have if it were for my wife's desire for a NEW house.  I think the gated communities do provide an extra level of secuirty.  I may be a very shallow lever of security, but it can't hurt!!

Gated communities are like The Auto Club lock--it looks bright and shiny on the outside and will deter only the most lazy of thieves. But any serious thief knows you can easily saw through the steering wheel or punch the lock after some freon.