OCLuvr
Active member
I just started to believe you are not YF. But this post again changed my mind.
@IHS,
Could you please take out that landfill map from city and how it would impact YF's favorite neighborhoods
@IHS,
Could you please take out that landfill map from city and how it would impact YF's favorite neighborhoods
Burn That Belly said:PS(3/5A) homes have to offer more in the homes than comparables in OH, SG, EW, and CV because they know if they offer the same identical crap, no one is going to buy out there because there isn't much incentive to buy out there when you can get the same thing elsewhere.
For the same identical products, product A in OH and product A in PS5A, TIC is not willing to lower the price significantly on the product A in PS5A just so they can make up for sales. Instead, they rather price the products closer but still just slightly cheaper, and instead give you more square footage, giving you the feeling that you are truly getting more bang for your buck, at the expense of location/nearby amenities.
Everybody has different requirements and tolerances. Some people have 4 kids and they truly need that 4th bedroom. Some people have in-laws that they "inherited" from their mail-order Chinese bride and they have to get that extra downstairs bedroom/kitchenette. With these requirements, they have to make sacrifices because money don't grow on trees. Others want to be close to their work and not drive an additional 12-15 min one-way just to get home or to work, or pay for toll road fees. Time is MONEY. And time wasted accumulates.
Then there are people who LOVE spending 1.5 hour of traffic commuting from the OC to Riverside daily but they bought their new SFH home for only $400K, as big as most Irvine homes. And they don't mind the commute because their Prius gets 55+ MPG so gas price is cheap enough.
PS5A will no doubt sell with their SFHs because it will be priced competitively and offer a bit more bang for the buck. Appreciation "curve" is another discussion for another day. However, those with the bells and whistles (the beautiful skyline view lots) are going to come out on top first.
To give you an example, those small grove PS1 homes are one of the best PS1 homes you can bet your money on. $1.35m sold, now worth $1.9m.
https://www.redfin.com/CA/Irvine/25-Small-Grv-92618/home/7215392