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gypsyuma_IHB

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Hello everyone,

I just found this blog this morning, and I must say it couldn't have come at a more opportune moment. I had the pleasure of living in Turtle Rock in 2003-2004 I think it was, but I was only renting at the time. We did some browsing, but quickly ended our search when the best we could find was an 1800sf, 3BR TH with no patio in Aliso Viejo for $650k. I believe my husband's comment at the time was that he felt like he was in a coffin - the rooms were quite small. But then we had just moved to Irvine from Texas, so anything would have seemed small at that time.



Fast forward five years...... I have been moving around pretty much yearly, even overseas a bit, and now find myself living on the East Coast for the first time in Boston. To say that I am absolutely miserable only underscores the desperation I feel to get the hell out of here. But that has its challenges - mainly, for once my husband is in a stable job that looks to last more than a year (he is in IT industry). But given that I am not the "stand by your man" type and go where the wind takes me, I am not willing to let that detail rain on my escape, if I should decide that an escape is what is best at this time. Simply put, my husband would stay here for work and commute to visit once or twice a month.



Given that we both found Irvine to be the best place we have ever lived, naturally I decided that perhaps Irvine should be my destination for my escape. I then swtiched my sights to Mission Viejo and Rancho Santa Margarita once I saw how much more house I could get for my money. But my husband really prefers Irvine, and the other places lack of access to non-toll freeways makes me think he may be right. This time.



Keeping in mind that I am not nearly as sophisticated as any of you, based on what I have read in the past hour, I set about looking for a place for us. My top priorities were size (we have four kids), floor plan (we will never use a formal LR/DR combo), and price (four kids are expensive). After crunching the numbers, and adding in taxes, Mello Roos and HOA..... I am now getting cold feet. I still want to live in Irvine, but I am concerned that I am jumping the gun and will be owning a declining asset. At the same time, I have completely fallen in love with the Paloma 4 as it is absolutely my dream home.



So that is my dilemma. We leave Boston for CA on Wednesday to have a look around and make some decisions. I have no clue what I should do at this point...... but I am quickly seeing my escape likelihood dwindle....... big sigh.
 
Rent a nice 4 bedroom house for a while. You can slowly feel out the market, the "villages" to see which ones you like, and make your decision at your own pace.
 
Welcome to the boards, gypsyuma. So you have four kids and you're fine with separating the family for all but one visit a month from their dad / your husband just for a place in Irvine? Not worth that heavy of a price and I'm not talking dollars.
 
Hang out in this forum for a while, read everything you can here and then you will realize why everyone says, RENT, RENT, RENT! You will quickly lose any stigma you may have personally attached to renting when you realize that holding on to the idea that owning is the only right thing will cost you an extra few thousand a month for the next 1-2 years. Oh, and welcome!
 
[quote author="tmare" date=1239679806]Hang out in this forum for a while, read everything you can here and then you will realize why everyone says, RENT, RENT, RENT! You will quickly lose any stigma you may have personally attached to renting when you realize that holding on to the idea that owning is the only right thing will cost you an extra few thousand a month for the next 1-2 years. Oh, and welcome!</blockquote>
I think the old adage for buying real estate (Location, location, location)... should be changed to:



Rent, rent, rent!



(At least until IR stops renting and buys his own Irvine home)
 
Can you please elaborate on why you found Irvine to be the best place we have ever lived? Besides Texas, where were you living before that was so horrible?
 
Welcome



Rancho Santa Margarita is a great place for a family.

Just remember its "ER" as compared to Irvine.



Its Farther. Its Hotter. Its Colder. Its Windier. Etc. Etc.

But still very nice and the schools are OK. Nice Community.



Some great rentals are available with prices that are resonable.



"Now is NOT a good time to buy a home in Orange County".

Or Riverside or San Diego either.



(I will believe in IHB2 when they buy that "Cash Flow Positive"

property in Fontucky or Murder Valley. Cant wait to hear about

the profits generated from that investment. Just wait tlll one of them

has to make the drive a few times in a week. LOL.)
 
Welcome.



We are renting very close to RSM and it works for us, but I think Irvine would work for us also. We will buy in a couple more years, probably in the same school areas as we live in now.
 
Welcome to the board. Four kids, yikes... Not sure what your housing specs are like, but as far as Irvine is concerned, if you want something 4-5 bedroom that is "reasonably" priced, you'll probably have to focus on value villages or older, less desirable ones.



There are a couple of places in West Irvine that are around the $250/sf mark and have low mello roos:



<a href="http://www.redfin.com/CA/Irvine/Undisclosed-address-92602/home/4793353">http://www.redfin.com/CA/Irvine/Undisclosed-address-92602/home/4793353</a>



<a href="http://www.redfin.com/CA/Irvine/60-Declaration-Pl-92602/home/4792128">http://www.redfin.com/CA/Irvine/60-Declaration-Pl-92602/home/4792128</a>



The schools for these would be Tustin Unified and all very good.



At a price of $750K, with today's mortgage rates, these homes are probably hovering around rental parity. That may limit their downside, although that is a strong qualifying "may". I'd suspect 3000sf 5 bedroom places in West Irvine to settle into the high $600K range at bottom...
 
Frankly I find your situation quite sad. I know I?m the last person in your life to tell you what to do; but I?m imploring you to try and stick together as a family. Take it from me; your kids and your husband will miss you more than you think. I know the trend these days on Oprah emphasis, a personal ?pursuit of happiness?; but I personally feel that it is quite selfish because it often discount your responsibilities as a wife and mother.
 
Thanks for the warm welcome. I understand that our family dynamic may be hard to understand from the outside, but when you are living in a place (Boston) that makes you miserable and for a husband that is rarely home (even on the weekends), then it just doesn't make sense to stick around. Like I said, it is not for everyone. I am just not the kind of wife that has to be attached to her husband's hip. And if my husband is not ok with that, I guess he can always divorce me. lol



I have lived in these places besides Irvine : Phoenix, AZ; Overland Park; KS; Wheaton, IL; Denver, CO (4 times) ; Austin, TX; Sugarland, TX; Plano, TX (2 times); and a couple places overseas. I liked Denver, it was ok. And there was alot I liked about Texas. But after moving for my husband every year pretty much for the last 12 years, I am ready for a change and to actually settle down. Plus, my children are getting older and I want a more stable education environment for them. Plus, I have sacrified alot for my husband and children - I gave up a career in law so that I could be the sole caregiver to the children and my husband could focus on his job. So I have decided that where I live and the kind of life I lead will now be on my terms - and I have decided that I want to live in California. I like the weather. I like the lifestyle. I like all the family entertainment. So, that is my decision in a nutshell.



I am getting the message that now is not the time to buy loud and clear. I have a couple of questions for you guys:



* Are there any neighboring areas to Irvine that you would consider buying that you feel may offer equal value - would you ever consider buying in say Ladera Ranch or Fountain Hills, or Rancho Santa Margarita? My husband is set on Irvine and doesn't like the freeway access with these areas. I am more focused on the investment aspect - if there are any other areas I should be looking as well that are as good an investment as Irvine is.



* If you are sitting on the sidelines and waiting to buy until later, can you let us in on what conditions you are waiting for and where you look to assess conditions? Right now I mostly use Redfin, but I do not have the inside information obviously.



* Again, for those that are renting for now, have you considered trying to get a great deal on a foreclosure, or is that also something you feel will only get better with time? Do you know of any Irvine agents that specialize with assists on short sales and foreclosures? I read the account of one member on here talking about his decision to sell and rent, and he advised using a good agent knowledgeable in the area you want - so I guess I need to know who those agents are for Irvine eventually. Anyone have a recommendation for future use?



* Lastly, I remember some site suggested on here for Irvine rentals, but neglected to write it down. I already know realtor.com, but there was another that was really good. Can you remind me what it was?



Thank you for the warm welcome, and I look forward to gaining further insight into the Irvine market from your obviously knowledgeable point of view.
 
[quote author="roundcorners" date=1239691287]Frankly I find your situation quite sad. I know I?m the last person in your life to tell you what to do; but I?m imploring you to try and stick together as a family. Take it from me; your kids and your husband will miss you more than you think. I know the trend these days on Oprah emphasis, a personal ?pursuit of happiness?; but I personally feel that it is quite selfish because it often discount your responsibilities as a wife and mother.</blockquote>


The kids come with me. My workaholic husband stays in Boston alone. Wow, I didn't realize my personal decisions would be under such a microscope. My husband goes to work at 8am. He comes home anywhere from 10 - 1am. He also works on the weekends. So I feel pretty comfortable with my decision to go where my children and I will lead a better life. We will probably see him more when he is forced to leave work a few days to come see us. I hate Boston - I am leaving with the kids. End of story. Thanks for the concern though.
 
For what?s it worth; I truly hope that your family can stay together, whether you live here or Boston. Growing up in a dysfunctional family, I know what it is like to have a workaholic dad. Having live through a similar situation; I only wish my parents would have explored every possible option before filing for divorce. Although it might not be immediately obvious, your children will ultimately be the victims of this living situation. I?m not a marriage and family therapist; but I know first hand the emotional destruction of not having a dad around. From counseling, I also know the healing, growth and reconciliation that can occur in your marriage and family. I know it is not easy; and initiating intimacy will be the harder path but it?s a path worth fighting for before you consider moving. Good luck?



P.S. I know you were just looking for a housing blog; and there are plenty of houses out there that will fit, but a house is not a home without all the relationships...
 
[quote author="gypsyuma" date=1239692769][quote author="roundcorners" date=1239691287]Frankly I find your situation quite sad. I know I?m the last person in your life to tell you what to do; but I?m imploring you to try and stick together as a family. Take it from me; your kids and your husband will miss you more than you think. I know the trend these days on Oprah emphasis, a personal ?pursuit of happiness?; but I personally feel that it is quite selfish because it often discount your responsibilities as a wife and mother.</blockquote>


The kids come with me. My workaholic husband stays in Boston alone. Wow, I didn't realize my personal decisions would be under such a microscope. My husband goes to work at 8am. He comes home anywhere from 10 - 1am. He also works on the weekends. So I feel pretty comfortable with my decision to go where my children and I will lead a better life. We will probably see him more when he is forced to leave work a few days to come see us. I hate Boston - I am leaving with the kids. End of story. Thanks for the concern though.</blockquote>


You go girl! LOL
 
[quote author="gypsyuma" date=1239692769][quote author="roundcorners" date=1239691287]Frankly I find your situation quite sad. I know I?m the last person in your life to tell you what to do; but I?m imploring you to try and stick together as a family. Take it from me; your kids and your husband will miss you more than you think. I know the trend these days on Oprah emphasis, a personal ?pursuit of happiness?; but I personally feel that it is quite selfish because it often discount your responsibilities as a wife and mother.</blockquote>


The kids come with me. My workaholic husband stays in Boston alone. <strong>Wow, I didn't realize my personal decisions would be under such a microscope</strong>. My husband goes to work at 8am. He comes home anywhere from 10 - 1am. He also works on the weekends. So I feel pretty comfortable with my decision to go where my children and I will lead a better life. We will probably see him more when he is forced to leave work a few days to come see us. I hate Boston - I am leaving with the kids. End of story. Thanks for the concern though.</blockquote>




Welcome to the IHB. Love it or hate, the people around here love details. We all pretend it's about real estate, but the drama sucks you in %-P .
 
Okay, now that I've gain edcomposure from my laugh attack <a href="http://www.irvinehousingblog.com/forums/viewthread/4928/">here</a> is the rental website thread you seek.

If you provide some more specfics in what type of neighborhood you are looking for maybe we can be of more help. The Paloma homes are nice, however, the last time I drove through Portola Springs it was still a ghost town. Aliso Viejo or Tustin Ranch would be easy for your husband to get to and from John Wayne Airport. The 73 takes you to Aliso Viejo but their is a toll. Might be worth it, though, as the prices are cheaper there than Irvine. The 55 is a straight shoot from Tustin Ranch to the airport and there is no toll.
 
Yeah, some folks seem to think they need to give folks advice on issues they have not been asked about, are not qualified to give advice about, have next to no personal information from the person they are giving advice to,

and should probably keep their traps shut about even if they are asked. Even Dr. Laura does not give advice off the air.







The toll road, route 241, which goes through RSM is awesome. RSM is extremely family oriented, with no young single night life. The New Year's Eve parties end at 10:00 pm in Coto. Ladera is also extremely family oriented, but make sure and figure Mello Roos into your costs no matter where you buy.







We will buy when the time is right for us, which means the majority of the housing price decrease has occurred, but not all. IMO, that will be in about three years. We find renting to be less stressful than owning with a lot less responsibility and troubles, but my wife wants desperately to decorate, so she yearns for our own home. The schools in RSM are good, Ladera great, and Irvine probably best.







I prefer to purchase residential real estate without a buyer's agent, but if I was going to hire an agent in Irvine, it would be IrvineRealtor on this blog. I am sure he can introduce himself here. For RSM, I know an honest, straight forward realtor and I can pm, (private message), you with his name if you would like.
 
[quote author="awgee" date=1239702102]Yeah, some folks seem to think they need to give folks advice on issues they have not been asked about, are not qualified to give advice about, have next to no personal information from the person they are giving advice to,

and should probably keep their traps shut about even if they are asked. Even Dr. Laura does not give advice off the air.</blockquote>


I ask for your patience and understanding. The OP was not required to share her precise personal details and feelings in order to get an answer to a rental parity question or any other type of real estate question. Since she felt compelled to share, we sensed it's something she may want to discuss. We actually do care about people here.



gypsy: Very sorry to read the updated details that you and your kids have been bounced around so much and so often. I understand your need for stability. I hope your potential move to Irvine will help anchor your family including your husband, as you suggested.



Tmare - you crack me up. I think you have found our new slogan:



- IHB -

Come for the real estate. Stay for the drama.

:cheese:
 
[quote author="gypsyuma" date=1239692299]

* Are there any neighboring areas to Irvine that you would consider buying that you feel may offer equal value - would you ever consider buying in say Ladera Ranch or Fountain Hills, or Rancho Santa Margarita?</blockquote>


I wouldn't recommend Fountain Hills, AZ for its proximity to Irvine ;). I assume you mean Fountain Valley. Location is very important in Fountain Valley. Stay away from the part of FV that borders Santa Ana. The north/east side of Edinger St. between Brookhurst and Newhope is an eye sore with graffiti displayed on the block walls at least monthly. The high school in that part of FV (Los Amigos) is in the Garden Grove Unified School District, while FV High School is in the Huntington Beach Union School District and performs much better on CA standardized tests. I'm no expert on standardized tests, but more than 50% of the Los Amigos student body is Hispanic, and so its lower test scores could be the result of students who speak English as a second language [insert standardized test arguments here]. Anyway, I used to rent a house in the part of FV that borders SA, and I would never raise children there. Santa Ana is a little too close for comfort.



Ladera Ranch has great schools and is very family-oriented. Some of the villages have lower Mello Roos than others. There are many short sales and REOs, and the impact to community HOAs and the master HOA remains TBD. Just be sure to calculate HOA fees (one or more) and taxes into your calculations. The current Master Association HOA is $160/month and includes Cox internet.
 
[quote author="gypsyuma" date=1239692299]

* Are there any neighboring areas to Irvine that you would consider buying that you feel may offer equal value - would you ever consider buying in say Ladera Ranch or Fountain Hills, or Rancho Santa Margarita? My husband is set on Irvine and doesn't like the freeway access with these areas. I am more focused on the investment aspect - if there are any other areas I should be looking as well that are as good an investment as Irvine is.

</blockquote>


I lived in Irvine and Tustin, and I enjoyed Tustin more. Old town Tustin has "character", but Tustin Ranch = Irvine. Best of both worlds from my perspective. My understanding is that Tustin schools are also very, very good. I also want a large lot so my plan is to eventually buy in North Tustin, which is technically unincorporated Santa Ana. The small lots in the newer parts of Irvine do not interest me at all.



<blockquote>* If you are sitting on the sidelines and waiting to buy until later, can you let us in on what conditions you are waiting for and where you look to assess conditions? Right now I mostly use Redfin, but I do not have the inside information obviously.</blockquote>


I am waiting for the foreclosure numbers (actual foreclosures and not just NODs) to stop skyrocketing and start a downward trend. I have a small advantage in that Mr. Foreclosure himself is usually in my living room telling me all about upcoming REOs in my desired neighborhoods, but the information Graphrix gets is all public. I am also waiting to have a 20% down payment. I use both Ziprealty and Redfin to search. Graph would have to tell you what his website of choice is lately. He has some sort of multi-site system...I think. :-)



<blockquote>* Again, for those that are renting for now, have you considered trying to get a great deal on a foreclosure, or is that also something you feel will only get better with time? Do you know of any Irvine agents that specialize with assists on short sales and foreclosures? I read the account of one member on here talking about his decision to sell and rent, and he advised using a good agent knowledgeable in the area you want - so I guess I need to know who those agents are for Irvine eventually. Anyone have a recommendation for future use?</blockquote>


Deuce, how are you on foreclosures? :-)
 
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