Lofts in OC?

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nemoly11_IHB

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I'm moving to Orange County for a job and I think I might be there for awhile. I am single, and am thinking about purchasing something within the next year. In the meantime, I'll just rent for a bit while I get a feel for the market.



My question is, whether you know of any loft-type condos or homes that are in the area and aren't a total ripoff? I have heard of the Santa Ana Art Lofts, and the Anaheim Lofts, and both sound interesting to me. However, finding accurate information on either property is very difficult- the places are unresponsive, don't seem to want to sell the places, and prices are all over the place. In some places, they seem to be selling in the $400,000s, which seems a little high to me given the price per square feet of the condos, but then in other places they seem to be going as low as the $290,000s.



In general, though, there doesn't seem to be much about them. Websites don't work very well, all of the news articles are old, etc.



Can anyone tell me what is actually going on, and if there are any other better options around?



Thanks in advance,



nemoly11
 
<a href="http://www.irvinehousingblog.com/forums/viewthread/3999/">Lofts in Santa Ana</a>



<a href="http://www.irvinehousingblog.com/forums/viewthread/3042/">Stadium Lofts in Anaheim</a>



<a href="http://www.irvinehousingblog.com/forums/search/">Search in IHB</a>
 
[quote author="nemoly11" date=1245834336]I'm moving to Orange County for a job and I think I might be there for awhile. I am single, and am thinking about purchasing something within the next year. In the meantime, I'll just rent for a bit while I get a feel for the market.



My question is, whether you know of any loft-type condos or homes that are in the area and aren't a total ripoff? I have heard of the Santa Ana Art Lofts, and the Anaheim Lofts, and both sound interesting to me. However, finding accurate information on either property is very difficult- the places are unresponsive, don't seem to want to sell the places, and prices are all over the place. In some places, they seem to be selling in the $400,000s, which seems a little high to me given the price per square feet of the condos, but then in other places they seem to be going as low as the $290,000s.



In general, though, there doesn't seem to be much about them. Websites don't work very well, all of the news articles are old, etc.



Can anyone tell me what is actually going on, and if there are any other better options around?



Thanks in advance,



nemoly11</blockquote>
I would recommend that you find a nice place that will be close to your work. For example, if you will be working in Brea it's probably not such a hot idea to live in San Clemente. You'll most likely be able to find loft style units in Anaheim, Brea, and Orange. I'd recommend that you rent not only to let prices come down further but to also get an idea for the place where you might want to live in.
 
[quote author="nemoly11" date=1245834336]I'm moving to Orange County for a job and I think I might be there for awhile. I am single, and am thinking about purchasing something within the next year. In the meantime, I'll just rent for a bit while I get a feel for the market.



My question is, whether you know of any loft-type condos or homes that are in the area and aren't a total ripoff? I have heard of the Santa Ana Art Lofts, and the Anaheim Lofts, and both sound interesting to me. However, finding accurate information on either property is very difficult- the places are unresponsive, don't seem to want to sell the places, and prices are all over the place. In some places, they seem to be selling in the $400,000s, which seems a little high to me given the price per square feet of the condos, but then in other places they seem to be going as low as the $290,000s.



In general, though, there doesn't seem to be much about them. Websites don't work very well, all of the news articles are old, etc.



Can anyone tell me what is actually going on, and if there are any other better options around?



Thanks in advance,



nemoly11</blockquote>


The loft selling at $400k was designed by a well known Westside architects and the Townhouse was designed by a local Irvine cookitect therefore the price reflects appropriately at $290k.



Bisno would rather let the remaining narrow loft units be vacant than to lowering prices.



I think he is motivated to sell his townhomes.
 
If by "loft" you have the usual idea of a high-ceiling rental with somewhat industrial fixtures, Stadium Lofts doesn't quality. It has about 4 units actually built in a "loft" style. Mostly they're standard apartment-style places.



There are also some live-work lofts (albeit with very limited work space) at <a href="http://www.livecityplace.com/courtyards.html">CityPlace</a> in Santa Ana. Many of the recent multistory townhomes have something of a "loft" feel to them because of cathedral ceilings and complex floor plans.



IMO, loft-style places are generally overpriced in OC right now and I wouldn't buy them at present.
 
My wife and I were strongly considering the live/work loft lifestyle back in 2004. We waited for the Santiago Street Lofts to break ground, we waited for Olson's SOCO lofts in Fullerton, Depot Walk in Orange, and Bisno's Cityplace. In fact, we almost bought a loft at t he Santiago Lofts at the end of 2007 (we stopped the mortgage application when the broker told us our stated income wasn't necessary...we felt a bubble ready to burst). We had big hopes of opening a clothing boutique, tea shop, or using the work space as a game room/entertaining room. However, we weren't happy with any of the developments. Either the build quality, design, HOA fee, neighborhood, or location (too much property crime) was a major issue for us. After reading a few threads here, it became clear to me how overpriced the lofts were granted our lifestyle. If we had a business that required a store front, the lofts are much cheaper than commercial real estate, but you forgo the foot traffic and allure of a business park or strip mall.



In the end, we decided to hunt for a SFR. I hope you find what you're looking for.
 
how about the live-work in Aliso,, <a href="http://www.sheahomes.com/main.cfm?dir=findahome&sec=none&subsec=models&temp=communityother&communityid=401">Vantis </a>I think?
 
[quote author="roundcorners" date=1246417330]how about the live-work in Aliso,, <a href="http://www.sheahomes.com/main.cfm?dir=findahome&sec=none&subsec=models&temp=communityother&communityid=401">Vantis </a>I think?</blockquote>


I think those are mostly sold out. Maybe one or two on the resale market.
 
[quote author="Auto Refugee" date=1247826393][quote author="roundcorners" date=1246417330]how about the live-work in Aliso,, <a href="http://www.sheahomes.com/main.cfm?dir=findahome&sec=none&subsec=models&temp=communityother&communityid=401">Vantis </a>I think?</blockquote>


I think those are mostly sold out. Maybe one or two on the resale market.</blockquote>


Plenty left in Vantis and City Walk in Aliso. It looks like they're actually finishing off about 15 units in the near future.
 
Why do people even consider lofts in OC? Lofts make sense in vibrant, more urban locations that are walkable and have some unique culture.



OC (especially irvine and aliso) are the most sterile, car culture, cookie cutter suburban places. Just because you thow up a few tall buildings doesn't mean you have a real city. And they don't even do it right. with all the setbacks and space between business parks it could never be walkable. I don't know, it just doesn't seem right to live in a loft when the entertainment is a chain restaurant in a vanilla shopping center.
 
[quote author="not a realtor" date=1247872961]Why do people even consider lofts in OC? Lofts make sense in vibrant, more urban locations that are walkable and have some unique culture.



OC (especially irvine and aliso) are the most sterile, car culture, cookie cutter suburban places. Just because you thow up a few tall buildings doesn't mean you have a real city. And they don't even do it right. with all the setbacks and space between business parks it could never be walkable. I don't know, it just doesn't seem right to live in a loft when the entertainment is a chain restaurant in a vanilla shopping center.</blockquote>


Wanting tall ceilings and a very open floor plan (as in most lofts) are seperate from wanting to be able to walk to shopping and restaurants, IMHO.



Of course you are right that few places in OC are very walkable. And Irvine in particular makes cookie cutter blandness an art form. But those qualities are not incompatible with having a loft floorplan.
 
Are lofts classified as "condos" ? No more FHA loans for condos come October 1st.





EDIT : I stupidly and quickly misread the article.



<a href="http://smartrealestate.wordpress.com/2009/07/16/fha-condo-approvals-halted-10012009-new-existing-and-conversions-all-affected/">New FHA recertification requirements for Condos</a>
 
[quote author="xoneinax" date=1247885491]Are lofts classified as "condos" ? No more FHA loans for condos come October 1st.</blockquote>


O rly? There goes the neighborhood!
 
[quote author="xoneinax" date=1247885491]Are lofts classified as "condos" ? No more FHA loans for condos come October 1st.</blockquote>


I wonder how that will affect all of the "detached condos" in northeast Irvine?
 
I've thought about looking for a loft because I miss the "urban" vibe which is nowhere to be found in OC, but then I decided it just doesn't make sense. None of the neighborhoods in OC really support that urban lifestyle they are promoting - at most you can go downstairs and go to Starbucks. And from what I've seen, parking would be a mess for friends trying to visit...
 
Looking for urban vibe in OC is like going to Panda Express looking for shark fin soup. Urban vibe environment is often a solution resulted from extreme density and other issues that lead to over population, scarcity of parking, pedestrian and public transit activities, inconvenient and compact retail amenities that promote identity business for mom and pop instead of national big box chains, lateral and vertical integration of caste population by having the rich living above the poor: the rich sipping champagne from gold rimmed glasses from their penthouse while the poor begging for a quarter using their empty Starbuck cup by their lobby door steps.



Urban living must integrate an element of adventure. This adventure could include fear and hardship. The fear of getting harass by pan handlers or walking home from a dedicated parking spot several blocks away, The inconvenience by buying grocery a bag at a time or lacking storage or recreational toys. This could also mean living with minimal baggage and experience life after 9pm.



Everyday is an adventure living in the urban city. In the suburb you book your adventure for 2 weeks.
 
While I don't necessarily disagree with bk's points... urban living doesn't necessarily have to arise from extreme densities or overpopulation, though those definitely are symptoms of many "urban areas", aka. NYC, SF, London, Tokyo. I would consider anywhere that a car is not necessary with the exception of commuting to work "urban"; where you could shop, eat, and entertain yourself and friends without needing a car on weekends - and after work - "urban" - without being an extreme like Manhattan, where owning a car could end up costing as much as your rent. Examples of this (in my opinion, at least) are areas like Old Town Pasadena, downtown San Diego, Long Beach, and a little bit further from home Portland, Washington DC, and Boston, etc.



In many of these cities, having a car is very feasible yet you have the option of public transportation and/or walking to nearly everything. Here in OC, that is virtually impossible. Even quite a few neighborhoods in LA have more of an urban vibe than OC (Santa Monica, Venice, Hollywood, etc), and LA is known to be the epitome of suburban sprawl.
 
Oh, I forgot the very nice <a href="http://www.newhomesource.com/communitydetail/market-28/community-41887/view-details/builder-4922">Prospect Village</a> in Tustin. It's the only "live-work" development I've seen in OC where the workspace is large enough to actually do work. The homes are very nicely decorated and very inviting. It didn't sell at first because of total WTF pricing. They've backed off on the prices and now it's only really steep. :-P I could imagine somebody buying now if they really wanted live-work just because there's no alternative; but I think that they're still not selling and are now leasing instead (perhaps a good idea if you want to try it out.)
 
[quote author="bkshopr" date=1248164164]Looking for urban vibe in OC is like going to Panda Express looking for shark fin soup. Urban vibe environment is often a solution resulted from extreme density and other issues that lead to over population, scarcity of parking, pedestrian and public transit activities, inconvenient and compact retail amenities that promote identity business for mom and pop instead of national big box chains, lateral and vertical integration of caste population by having the rich living above the poor: the rich sipping champagne from gold rimmed glasses from their penthouse while the poor begging for a quarter using their empty Starbuck cup by their lobby door steps.



Urban living must integrate an element of adventure. This adventure could include fear and hardship. The fear of getting harass by pan handlers or walking home from a dedicated parking spot several blocks away, The inconvenience by buying grocery a bag at a time or lacking storage or recreational toys. This could also mean living with minimal baggage and experience life after 9pm.



Everyday is an adventure living in the urban city. In the suburb you book your adventure for 2 weeks.</blockquote>


Very well put. Most big cities where people find "culture" and "vibe" is a result of something negative, like inconvenience, over population, transportation issues, etc. Beating up on Irvine is pretty much a waste of time, so if you don't like chains, convenience and strip malls move to Chicago or NY. I once bet a friend $100 he couldn't get my a bottle of diet pepsi within 60 minutes inside the SF city limits. It was the easiest 100 bucks I've made.
 
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