irvinehomeowner
Well-known member
The answer to that OC Weekly question is:
Playing ball with IHO
Homer... when are you going to come out to hoop again?
Playing ball with IHO
Homer... when are you going to come out to hoop again?
Johns Creek Homes and Real Estate
- Thread starter panda
- Start date
NEW -> Contingent Buyer Assistance Program
As someone who bought some rental properties out of state in 05-06, market timing has a huge impact on your chart. I realize the chart is all hypothetical but buying at the top of the market vs bottom vs in-between can really hurt the overall performance. My AZ home is still underwater, but fortunately my TX homes aren't doing so bad.
Yeah, that's not just Irvine but pretty much all of South O.C. as well.
By the way, have you seen the show "Pretty Wicked Moms" on Lifetime?? It's a group of women from Atlanta competing for most prestigious wife and mom. They throw these elaborate parties for their kids, extremely concerned with how they appear to others, very materialistic individuals. It's basically like Real Housewives of Fill-In-the-Blank.
All kidding aside, I'm sure there are many stories of people who want to move out of Irvine, but I'll bet you a Homer donut there are more that want to move in. And more that would rather live in Irvine than Pandas Creek.
Location is king... and So Cal (not just Irvine) is one of the best locations in the US.
You supply the bets and I'll supply the donuts..
Mmm...I don't think most Irvinites try to be a "celebrity" Most Irvine-ites I know are just regular people running around between errands and life. Seriously, I am starting to think that I don't live in Irvine.
IHO, you just don't get it. IMHO, Panda is pretty close to being on the money. Johns Creek is Irvine circa 1990 to LA/OC for Atlanta, which currently is a much more vibrant city than LA.
I don't quite understand this...why would you exclude LA from the analysis? Between LA/OC/Riverside, there are nearly 17 million people. SD county adds another 3 million. It is also in close proximate to the SF Bay Area, which is the leader in technology.
BTW: Alpharetta has a growth rate of 4.37% in 2012, Irvine was at 4.21%. Irvine's growth is quite interesting considering it has over 220,000 residents (compared to 61,000+ in Alpharetta).
Growth rate is also relative to population...a smaller area will likely experience more growth because it has a smaller population to begin with. A lot more people could want to move in to a certain area but the impact is minimized because there are a lot of already there.
Vibrant? How do you definite vibrant? OC is close to both LA and SD as well as a short plane ride to Las Vegas and SF.
That CNN link has a lot of the comparison
http://apps.money.cnn.com/bestplaces_2012/compare_tool_2012.jsp?id=PL1342425,&view=a
JC has a lower tax rate, higher income, higher marriage rate and fewer divorcees.
Irvine has a higher property value (better and worse), better weather (much better), a lot less rain, twice as many restaurants, shorter commute, lower crime, and a higher participation in the public school system. It also boasts a higher job rate growth rate.
Also, I just realized that the higher family income probably results from the difference between marriage rated. Irvine has a 50% married rate compared to 72.1 for JC.
homer_simpson
Well-known member
Not sure IHO.. I'm having a hard time finding that work/ball/life balance. Haven't played ball since the last time I was out there with you and IR. 
I am supposedly signed up on Bennyboys team for Sunday leagues but I have yet to show up.. Once the baby's older i think it'll be easier to come ball
I am supposedly signed up on Bennyboys team for Sunday leagues but I have yet to show up.. Once the baby's older i think it'll be easier to come ball
Baby Irvine said:
Let me give you guys an example of three financial returns on an hypothetical investment purchase. The chart above is by a investor author written in 2005. The mortgage rates where in the 7% then, so the equity build up would be much faster than the chart in today's environment. The chart assumes that the investor purchases 1 property a year for the next 10 years. The purchase price that you see in the chart is very similar to the market I am currently investing in, and the appreciation is much higher than the 6.67% appreciation I am using from the chart. Let's assume year 1 is considered 2011 and year 2 is considered 2012, etc.
Let's say you purchased a property in 2011 for $180,000 in year 1. You put $36,000 down and financed $144,000 30 year fixed at 3.75%. Let's assume that you closed on June 15, 2011 and you had a tenant already secured for July 1st, 2011 move in.
Annual Cash Flow
$1600/rent
$666.89 : mortgage
$35 : Insurance
$50 : HOA
Taxes 1%: $150
$698.11/monthly cash flow: This number is assuming immediate tenant occupancy and new construction purchase with $0 maintenance costs the first year since the there is a 1 year maintenance warranty by the builder.
$8377.32 / annual cash flow - 23.27%
Annual Debt Pay Down:
$144,000 - $141,127 = $2873/36,000 = 7.98%
Annual Appreciation
Let's assume that the property appreciates 6.67% like the chart shows. The property purchased in 2011 for $180,000 is now appraising at $192,000 in 2012.
$192,000 - $180,000 = $12,000/$36,000 = 33.33%
Annual return from 2011 - 2012: 64.58%
This number is not including the depreciation tax benefit that you receive every year. Over the long run, you will see that the cash flow and the amortization return is small compared to the return you get from appreciation and depreciation if you are correct in investing and identifying an emerging real estate market.
As someone who bought some rental properties out of state in 05-06, market timing has a huge impact on your chart. I realize the chart is all hypothetical but buying at the top of the market vs bottom vs in-between can really hurt the overall performance. My AZ home is still underwater, but fortunately my TX homes aren't doing so bad.
I bought in DFW and Austin. I bought all of my rentals in 05/06, and bought our primary residence in Irvine last year. Definitely agree that paying down the highest interest rate makes sense.
Although I was initially cursing HARP because it only helped the irresponsible homeowners, HARP2 has actually allowed me to refi and lower my interest rates on some of the homes I bought back in 06.
Although I was initially cursing HARP because it only helped the irresponsible homeowners, HARP2 has actually allowed me to refi and lower my interest rates on some of the homes I bought back in 06.
Irvinecommuter
New member
Interesting comparison between JC and Irvine (and other "best places to live").
http://apps.money.cnn.com/bestplaces_2012/compare_tool_2012.jsp?id=PL1342425,&view=a
Air quality seems pretty poor in JC and a lot of the residents go to private school. Commute seems a lot longer too.
http://apps.money.cnn.com/bestplaces_2012/compare_tool_2012.jsp?id=PL1342425,&view=a
Air quality seems pretty poor in JC and a lot of the residents go to private school. Commute seems a lot longer too.
panda
Well-known member
Thanks for the link Irvinecommuter...
OMG.. I totally disagree with the air quality. We have cleanest freshest air with all the trees we have here. This is first thing my in-laws noticed about JC visiting from the OC.
You can see we are 3.25% less in sales tax and median family income is around $12k higher than irvine with housing costs 1/3 the price. The higher the median income is compared to a lower median home price = a higher quality of living where households save a higher % of their income.
Let's say both Mr Johns Creek and Mr Irvine are both 30 year old male and have a salary job of $150k a year a reside in a median priced home in their prospective cities. In 20 years, Mr Johns Creek will become much further ahead in becoming financially secure than Mr. Irvine as smaller percentage of his income goes towards his housing and has money left over to invest in income generating rental properties secure his financial future. Mr. Irvine on the other will have a higher percentage of his income allocated to housing and have less saving to invest. More and more of his income will go into his principle and interest.
OMG.. I totally disagree with the air quality. We have cleanest freshest air with all the trees we have here. This is first thing my in-laws noticed about JC visiting from the OC.
You can see we are 3.25% less in sales tax and median family income is around $12k higher than irvine with housing costs 1/3 the price. The higher the median income is compared to a lower median home price = a higher quality of living where households save a higher % of their income.
Let's say both Mr Johns Creek and Mr Irvine are both 30 year old male and have a salary job of $150k a year a reside in a median priced home in their prospective cities. In 20 years, Mr Johns Creek will become much further ahead in becoming financially secure than Mr. Irvine as smaller percentage of his income goes towards his housing and has money left over to invest in income generating rental properties secure his financial future. Mr. Irvine on the other will have a higher percentage of his income allocated to housing and have less saving to invest. More and more of his income will go into his principle and interest.
irvinehomeowner
Well-known member
But all those hot summers will shorten Mr. JC's life expectancy. 
panda
Well-known member
Crazy thing just happened.... I promised IrvineCommuter that I won't bash Irvine... so please do not shoot the messenger.
A college friend of mine who I haven't talked to for 5 years just called me out of the blue who currently lives in Woodbury. He bought a detached condo in '09. He goes on and on about how materialistic this place is and this is not the environment he wants to raise his daughter and family in. He also has a new baby on the way. He tells me that in Irvine everyone tries to look like a celebrity but they are only middle class. We both attended the same church and small group in college.
I asked him.. how did you find me? I was little afraid that he may be lurking on the TalkIrvine or somethign. He said he looked up my name and was doing some housing research on Atlanta and Johns Creek and found me. We talk about an hour catching up about family life he was asking me a lot of questions about Atlanta, Johns Creek etc..... ..... finally he says.. Panda... find me a JC home in the golf course. I am looking to spend half a mil.. I am smirk inside thinking.. does he think we are in 2011 or something? lol.
I put my hand on the bible as I type this. True story... Irvinecommuter, please don't shoot the messenger. Promise.. there will be no Irvine bashing coming out of Panda's mouth
A college friend of mine who I haven't talked to for 5 years just called me out of the blue who currently lives in Woodbury. He bought a detached condo in '09. He goes on and on about how materialistic this place is and this is not the environment he wants to raise his daughter and family in. He also has a new baby on the way. He tells me that in Irvine everyone tries to look like a celebrity but they are only middle class. We both attended the same church and small group in college.
I asked him.. how did you find me? I was little afraid that he may be lurking on the TalkIrvine or somethign. He said he looked up my name and was doing some housing research on Atlanta and Johns Creek and found me. We talk about an hour catching up about family life he was asking me a lot of questions about Atlanta, Johns Creek etc..... ..... finally he says.. Panda... find me a JC home in the golf course. I am looking to spend half a mil.. I am smirk inside thinking.. does he think we are in 2011 or something? lol.
I put my hand on the bible as I type this. True story... Irvinecommuter, please don't shoot the messenger. Promise.. there will be no Irvine bashing coming out of Panda's mouth
socal78
Well-known member
Baby Irvine said:
Yeah, that's not just Irvine but pretty much all of South O.C. as well.
By the way, have you seen the show "Pretty Wicked Moms" on Lifetime?? It's a group of women from Atlanta competing for most prestigious wife and mom. They throw these elaborate parties for their kids, extremely concerned with how they appear to others, very materialistic individuals. It's basically like Real Housewives of Fill-In-the-Blank.
irvinehomeowner
Well-known member
Baby Irvine said:
All kidding aside, I'm sure there are many stories of people who want to move out of Irvine, but I'll bet you a Homer donut there are more that want to move in. And more that would rather live in Irvine than Pandas Creek.
Location is king... and So Cal (not just Irvine) is one of the best locations in the US.
homer_simpson
Well-known member
irvinehomeowner said:Baby Irvine said:
All kidding aside, I'm sure there are many stories of people who want to move out of Irvine, but I'll bet you a Homer donut there are more that want to move in. And more that would rather live in Irvine than Pandas Creek.
Location is king... and So Cal (not just Irvine) is one of the best locations in the US.
You supply the bets and I'll supply the donuts..
Irvinecommuter
New member
SoCal said:
Mmm...I don't think most Irvinites try to be a "celebrity" Most Irvine-ites I know are just regular people running around between errands and life. Seriously, I am starting to think that I don't live in Irvine.
nosuchreality
Well-known member
The Atlanta metro is 6+ million people.
Orange county is 3 million, the IE is another 4 million. the IE and OC are 30,000 sq miles.
Atlanta metro area is about 8000 sq miles.
The Atlanta greater metro area is also the #10 fastest growing US metro area. Orange county and LA aren't.
Orange county is 3 million, the IE is another 4 million. the IE and OC are 30,000 sq miles.
Atlanta metro area is about 8000 sq miles.
The Atlanta greater metro area is also the #10 fastest growing US metro area. Orange county and LA aren't.
irvinehomeowner
Well-known member
What are the metrics for Irvine and JC?nosuchreality said:
panda
Well-known member
JC city limits is about 1/3 the size of Irvine as well as its population. Right north of JC is Forsyth county which is the 6th fastest growing county in the nation and 19th wealthiest county.
Homes in Suwanee, GA is up 21% from last year.. most of that growth is Suwanee forsyth county which is the unincorporated Johns Creek.
When you include both forsyth county and Johns Creek.. now that population size is comparable to Irvine at 212,000. Forsyth County JC is the new Johns Creek where Fulton JC is the old Johns Creek.
Homes in Suwanee, GA is up 21% from last year.. most of that growth is Suwanee forsyth county which is the unincorporated Johns Creek.
When you include both forsyth county and Johns Creek.. now that population size is comparable to Irvine at 212,000. Forsyth County JC is the new Johns Creek where Fulton JC is the old Johns Creek.
irvinehomeowner said:
nosuchreality
Well-known member
irvinehomeowner said:
IHO, you just don't get it. IMHO, Panda is pretty close to being on the money. Johns Creek is Irvine circa 1990 to LA/OC for Atlanta, which currently is a much more vibrant city than LA.
Irvinecommuter
New member
nosuchreality said:
I don't quite understand this...why would you exclude LA from the analysis? Between LA/OC/Riverside, there are nearly 17 million people. SD county adds another 3 million. It is also in close proximate to the SF Bay Area, which is the leader in technology.
BTW: Alpharetta has a growth rate of 4.37% in 2012, Irvine was at 4.21%. Irvine's growth is quite interesting considering it has over 220,000 residents (compared to 61,000+ in Alpharetta).
Growth rate is also relative to population...a smaller area will likely experience more growth because it has a smaller population to begin with. A lot more people could want to move in to a certain area but the impact is minimized because there are a lot of already there.
Irvinecommuter
New member
nosuchreality said:
Vibrant? How do you definite vibrant? OC is close to both LA and SD as well as a short plane ride to Las Vegas and SF.
irvinehomeowner
Well-known member
So if JC is only 1/3 the size of Irvine... you can't really compare them.
Does JC have a University? What's the closest amusement park? We already know there are no beaches nearby. It gets really hot... does it get really cold? Is the salary range similar to Irvine or is it adjusted for that area?
Does JC have a University? What's the closest amusement park? We already know there are no beaches nearby. It gets really hot... does it get really cold? Is the salary range similar to Irvine or is it adjusted for that area?
Irvinecommuter
New member
irvinehomeowner said:
That CNN link has a lot of the comparison
http://apps.money.cnn.com/bestplaces_2012/compare_tool_2012.jsp?id=PL1342425,&view=a
JC has a lower tax rate, higher income, higher marriage rate and fewer divorcees.
Irvine has a higher property value (better and worse), better weather (much better), a lot less rain, twice as many restaurants, shorter commute, lower crime, and a higher participation in the public school system. It also boasts a higher job rate growth rate.
Also, I just realized that the higher family income probably results from the difference between marriage rated. Irvine has a 50% married rate compared to 72.1 for JC.