Portola Springs Fling This Saturday March 10

NEW -> Contingent Buyer Assistance Program
Its comforting to know that their racial preference isn't 1/3 asian, 1/3 white, and 1/3 hispanic.

Is that 'private property' lot in the center the new sewage treatment facility?
 
TIC certainly don't want Mello Roo to becomes the financial obligation to the developer. NHC stepping out of the game rule is hurting the entire building industry by setting a precedence. If NHC set the value ratio below $300 that will change the course of history.
 
not sure if it was you or someone else who noted that lambert ranch is small and shouldnt have an impact on TIC.  we have a reservation on a san marino lot that comes out mid april and i am really hoping lambert ranch puts some serious pressure on TIC

when you say value ratio, what do you mean?  $300 per sq ft advertising price?
 
I think Lambert Ranch will have an impact on Portola Springs... not necessarily the rest of Irvine.

There's still a whole east side Portola Springs phase (east of Lambert Ranch) TIC is going to build and having big homes with driveways, decent size lots, innovative floorplans and no Mello Roos right in the middle of PS has to be a cause for concern.
 
rkp said:
not sure if it was you or someone else who noted that lambert ranch is small and shouldnt have an impact on TIC.  we have a reservation on a san marino lot that comes out mid april and i am really hoping lambert ranch puts some serious pressure on TIC

when you say value ratio, what do you mean?  $300 per sq ft advertising price?
Click to expand...

Value ratio is price/total sf.

But be careful. Builders know the consumers only care about the value ratio and only sf counts therefore the builder strip out driveway, garage size, yard size, side yards, and front yard too.
 
irvinehomeshopper said:
You have to register in order to get the meal tickets. The private property is Lambert Ranch. TIC may want to beat LR to the customers.
Click to expand...

so this encourages people to register, so the PR machine can use this to pump up fake demand. This is what I learned from you, thanks.
 
irvinehomeowner said:
I think Lambert Ranch will have an impact on Portola Springs... not necessarily the rest of Irvine.

There's still a whole east side Portola Springs phase (east of Lambert Ranch) TIC is going to build and having big homes with driveways, decent size lots, innovative floorplans and no Mello Roos right in the middle of PS has to be a cause for concern.
Click to expand...
It will be interesting to see their response to Lambert Ranch
Will they circle the wagons?
The gloves are coming off
 
irvinehomeshopper said:
TIC certainly don't want Mello Roo to becomes the financial obligation to the developer. NHC stepping out of the game rule is hurting the entire building industry by setting a precedence. If NHC set the value ratio below $300 that will change the course of history.
Click to expand...

I'm not familiar with the details of the NHC's development. How many homes are being planned?
 
irvinehomeshopper said:
Value ratio is price/total sf.

But be careful. Builders know the consumers only care about the value ratio and only sf counts therefore the builder strip out driveway, garage size, yard size, side yards, and front yard too.
Click to expand...

IHS - can't you just divide everything price/sq ft home/lot size to normalize these things?

When we were running our own comps on various homes I did that to try and estimate lot premiums. It really makes the homes with < 5000 sq ft lots seem like horrible deals.
 
From the map (on the Lambert Ranch thread somewhere)... it's all detached SFRs with driveways (no motorcourts).

I think the smallest home starts at 2700sft.
 
A non sophisticated would be scammed by TIC for the exact reason. You are smart to take into the account the size of the land. God only made so much land and it is precious. Square Footage is cheap made by Mexicans with cheap labor. Why would you want to pay $340/sf for something that only cost $25/sf to make.

($25/sf) is what would cost the builder additionally to just pump up footage.

LAtoOC said:
irvinehomeshopper said:
Value ratio is price/total sf.

But be careful. Builders know the consumers only care about the value ratio and only sf counts therefore the builder strip out driveway, garage size, yard size, side yards, and front yard too.
Click to expand...

IHS - can't you just divide everything price/sq ft home/lot size to normalize these things?

When we were running our own comps on various homes I did that to try and estimate lot premiums. It really makes the homes with < 5000 sq ft lots seem like horrible deals.
Click to expand...
 
I understand the cost is $25/sq ft.  But are you telling me other than TIC who sells for 340/ sq ft, every other builder in
a desirable sounth county city is selling for 50/sq ft. Bottom line is the prices of other (desirable) places are not 2-3 times lower than
TIC prices. Probably 10-15% when everything is comparable. I think that 10-15% is the difference because of good marketing
and branding. But thats how life is.

I agree that 340/ sq ft is lot of money when cost is 25/sq ft. But you also should agree that it is not just a TIC thing.

[Infact I checked Laguna niguel  new homes near 73 toll road
before buying in TIC and I didn't find any difference in monthly cost. Slight saving of mello roos (vs no mello roos) was easily
offset by the fact that irvine was more centraly located and easier commute to many places of our interest]



irvinehomeshopper said:
A non sophisticated would be scammed by TIC for the exact reason. You are smart to take into the account the size of the land. God only made so much land and it is precious. Square Footage is cheap made by Mexicans with cheap labor. Why would you want to pay $340/sf for something that only cost $25/sf to make.

($25/sf) is what would cost the builder additionally to just pump up footage.

LAtoOC said:
irvinehomeshopper said:
Value ratio is price/total sf.

But be careful. Builders know the consumers only care about the value ratio and only sf counts therefore the builder strip out driveway, garage size, yard size, side yards, and front yard too.
Click to expand...

IHS - can't you just divide everything price/sq ft home/lot size to normalize these things?

When we were running our own comps on various homes I did that to try and estimate lot premiums. It really makes the homes with < 5000 sq ft lots seem like horrible deals.
Click to expand...
Click to expand...
 
When you go to Target and you see those 12 pack coke priced at 3 for $10. Then you looked again and saw those 6 pack mini size cans for $5. You thought to yourself I love those cute coke ads for the mini sized cans and picked up (2) 6 pack mini size for $10.
 
The point is don't just look at price/sf but consider the lot size. If the builder don't tell you the lot size then you are screwed because you don't own the land beneath your house. You can't even tear down your home for a vegetable garden.
 
If you don't own your land then you will be in for a big surprise. Per contract the life expectancy for the said structure is 99 years and by then it will be torn down. You will be dead by then. Your grand children will not own the land beneath the structure even when the structure no longer exist. Guess who will own the land? Don't bother trying to sell it then because as the life expectancy will expire and the structure will no longer worth much just like selling a home on a land lease.

If the structure is a detached home then it is a little different. As the 99th year approaches selling the home would be somewhat difficult because owners do not have freedom with the land to rebuild a custom home.

There is only so much you can do with a tract home. Countertop, flooring, cabinets, fixtures, appliances and paint. None of them would add resale value.
 
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