Quality of life in Irvine vs. Tustin Ranch

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[quote author="sssj" date=1244039685]What do you think of this house in Vidorra?

http://www.redfin.com/CA/Tustin/2336-Ferrey-Dr-92782/home/4775595

I love the community atmosphere and the decent size backyard facing caynon but not too sure what to think of the "split" level floor plan.

Somehow house feels smaller than it's square footage. How do people generally feel about that sort of floorplan?

Priced at $650K, is it resonable? or too high?

THanks a bunch!!</blockquote>


I have been in that floorplan and yes, it does feel smaller than it is. I'm not personally a fan...



It is priced close to current market. I put the value at around $615-625K based on the sales history.
 
I'll be sure to check out that house today as I'm jogging by. Backyard looks pretty tiny in the pictures. Should be able to see it pretty easily from the trail.
 
[quote author="gypsyuma" date=1244088190]As long as we are playing the "what do you think of this house?" game, take a look at this one and tell me what you think of it and its value.



http://www.redfin.com/CA/Irvine/3-Rustling-Wind-92612/home/21512452</blockquote>


Fairly priced in this market. Ignoring the remodel/upgrades, the previous purchase price puts the value at $750-775K. Considering they put at least $25-50K into it since then, I expect it will sell for less than a 5% discount to list...
 
[quote author="ipoplaya" date=1244088634][quote author="gypsyuma" date=1244088190]As long as we are playing the "what do you think of this house?" game, take a look at this one and tell me what you think of it and its value.



http://www.redfin.com/CA/Irvine/3-Rustling-Wind-92612/home/21512452</blockquote>


Fairly priced in this market. Ignoring the remodel/upgrades, the previous purchase price puts the value at $750-775K. Considering they put at least $25-50K into it since then, I expect it will sell for less than a 5% discount to list...</blockquote>


Redfin's compu-comp thingy (based on sales, not listings) says it's only worth $700k, and cyberhomes thinks it's worth $550k. Right now, Turtle Rock in general is overpriced and slow selling. No way they get anywhere close to the asking price of $850k. Lowball it if you want it.
 
[quote author="Geotpf" date=1244092354][quote author="ipoplaya" date=1244088634][quote author="gypsyuma" date=1244088190]As long as we are playing the "what do you think of this house?" game, take a look at this one and tell me what you think of it and its value.



http://www.redfin.com/CA/Irvine/3-Rustling-Wind-92612/home/21512452</blockquote>


Fairly priced in this market. Ignoring the remodel/upgrades, the previous purchase price puts the value at $750-775K. Considering they put at least $25-50K into it since then, I expect it will sell for less than a 5% discount to list...</blockquote>


Redfin's compu-comp thingy (based on sales, not listings) says it's only worth $700k, and cyberhomes thinks it's worth $550k. Right now, Turtle Rock in general is overpriced and slow selling. No way they get anywhere close to the asking price of $850k. Lowball it if you want it.</blockquote>


I'll bet you $100 that if it sells within the next three months it sells for over $750K... I'll put my estimates up against cyberhomes and redfin any day.
 
Someone I know bought the same floor plan exactly a year ago May 2008 for 720K, was recently appraised at 670K couple of months ago. Although it did not have any upgrades, I do not think that should make such a BIG difference.
 
[quote author="lowlyrenter" date=1244093308]Someone I know bought the same floor plan exactly a year ago May 2008 for 720K, was recently appraised at 670K couple of months ago. Although it did not have any upgrades, I do not think that should make such a BIG difference.</blockquote>


There you go. If it won't appraise at $850k, it won't sell at $850k, unless somebody stupid with an all or largely cash offer comes along.



Let's say $650-700k, after it being on the market for three months or more.
 
Damn, I never bet against IPO's estimates (did that once, and still have the egg on my face).



That said, if the comps don't support the loan needed for IPO's estimate, we may then be reaching a tipping point. How many large cash down buyers are left for Turtle?



IPO, has the percent DP started to drop in Irvine lately?
 
OC Register Irvine Blog is certainly picking up on our topics

<a href="http://irvinehomes.freedomblogging.com/2009/06/02/new-home-smackdown-irvine-vs-north-tustin/">New home smackdown: Irvine vs. North Tustin</a>
 
[quote author="ipoplaya" date=1244092597][quote author="Geotpf" date=1244092354][quote author="ipoplaya" date=1244088634][quote author="gypsyuma" date=1244088190]As long as we are playing the "what do you think of this house?" game, take a look at this one and tell me what you think of it and its value.



http://www.redfin.com/CA/Irvine/3-Rustling-Wind-92612/home/21512452</blockquote>


Fairly priced in this market. Ignoring the remodel/upgrades, the previous purchase price puts the value at $750-775K. Considering they put at least $25-50K into it since then, I expect it will sell for less than a 5% discount to list...</blockquote>


Redfin's compu-comp thingy (based on sales, not listings) says it's only worth $700k, and cyberhomes thinks it's worth $550k. Right now, Turtle Rock in general is overpriced and slow selling. No way they get anywhere close to the asking price of $850k. Lowball it if you want it.</blockquote>


I'll bet you $100 that if it sells within the next three months it sells for over $750K... I'll put my estimates up against cyberhomes and redfin any day.</blockquote>


I loved the place, but I am looking to only spend tops $650 - 700k.



Plus, I am not ready to buy, so some FCB is going to end up with my dream home. Another hiccup was that my husband didn't like it - but who asked his opinion? lol
 
[quote author="Mcdonna1980" date=1244110830]OC Register Irvine Blog is certainly picking up on our topics

<a href="http://irvinehomes.freedomblogging.com/2009/06/02/new-home-smackdown-irvine-vs-north-tustin/">New home smackdown: Irvine vs. North Tustin</a></blockquote>


And according to the poll, N. Tustin is in the lead. Also, the ignorants are flocking to the comments there. The person who commented about Foothill High, looks like they need to go back to grade school to learn how to type and spell. Oh, and find that Foothill has a very respectable API of 834. Glad they won't be my neighbor.
 
[quote author="new_to_irvine" date=1240633286]North Tustin is gorgeous but its so new</blockquote>Maybe you are thinking of Tustin Ranch; East Tustin is new.



North Tustin is not new at all. A few small developments in the hills of 4 or 5 houses per year perhaps.
 
[quote author="xoneinax" date=1244176725]I cannot even find 1512 Bluff Place 92705 on Google.





In the May 30,2009 OC Register high school rankings, Foothill placed 14th. Newport Harbor was 36th, suprising to me. All Irvine high schools were in the top 10.

http://www.ocregister.com/ocregister/news/education/datacenter/article_2050373.php</blockquote>


1512 Bluff place will not show up on any maps until it has sold and the new APN can be recorded. It's off of La Colina between Red Hill and Newport. It was a decent plot of land that a small builder built about 8 homes (too lazy to search for the actual number). They are pretty nice homes. This is the last one he has to sell, and he has dropped the price a few times already, but he has no clue how many foreclosures are surrounding the tract.



As noted in another thread, Foothill has increased it's API three years in a row. They have built a $19mil science center, and there is more money being doled out to improve the school. My prediction: Foothill will be right behind Irvine schools with an API within 20 points in five years. Plus my cousin graduated from there and got his BS from BK's alma mater. He also went on to get his masters. He is a jack of all trades, especially when it comes to programming languages, and people pay a premium for his diverse skills.
 
I grew up near the Bluff Place homes and have lived in North Tustin my whole life (except for a few years in Irvine).



The Bluff homes were built on a teardown lot on Red Hill near La Colina. There are four houses on almost an acre. I toured one and thought it was just OK. The garden space for each home is tiny, and the cul-de-sac could fill up fast with everybody's cars (you can't park out on Red Hill). The loft and extra bedroom upstairs were nice, but I didn't like how the stairs had carpet with the wood on the sides to fake the look of wood stairs with a runner.



Foothill's scores used to be higher before Beckman, possibly due to the district's redrawing when Beckman opened. There is a wedge of TUSD near the 55 with lower-performing students that used to get passed back and forth between Tustin High and Foothill. Since Beckman opened they've been at Foothill. Foothill has a high rate of college attendance, but also a party culture featuring some spoiled kids on drugs. That problem has been there since their doors opened in the 60s and isn't likely to go away anytime soon. I think it's a good public high school but if you want a competitive Uni High type of school, you won't get that here.
 
[quote author="graphrix" date=1244214078][quote author="xoneinax" date=1244176725]I cannot even find 1512 Bluff Place 92705 on Google.





In the May 30,2009 OC Register high school rankings, Foothill placed 14th. Newport Harbor was 36th, suprising to me. All Irvine high schools were in the top 10.

http://www.ocregister.com/ocregister/news/education/datacenter/article_2050373.php</blockquote>


1512 Bluff place will not show up on any maps until it has sold and the new APN can be recorded. It's off of La Colina between Red Hill and Newport. It was a decent plot of land that a small builder built about 8 homes (too lazy to search for the actual number). They are pretty nice homes. This is the last one he has to sell, and he has dropped the price a few times already, but he has no clue how many foreclosures are surrounding the tract.



As noted in another thread, Foothill has increased it's API three years in a row. They have built a $19mil science center, and there is more money being doled out to improve the school. My prediction: Foothill will be right behind Irvine schools with an API within 20 points in five years. Plus my cousin graduated from there and got his BS from BK's alma mater. He also went on to get his masters. He is a jack of all trades, especially when it comes to programming languages, and people pay a premium for his diverse skills.</blockquote>


A lot of clients also pay for my very different kind of BS skills.
 
[quote author="fadetogrey" date=1244248103]There is a wedge of TUSD near the 55 with lower-performing students that used to get passed back and forth between Tustin High and Foothill. Since Beckman opened they've been at Foothill</blockquote>It is more than a wedge. Almost all of Tustin south of the 5 is an aging apartment and condo jungle. Years ago, many were occupied by Marines and the working poor, then in the 80s by Vietnamese immigrants; now it is mainly Mexican.
 
[quote author="xoneinax" date=1244263350][quote author="fadetogrey" date=1244248103]There is a wedge of TUSD near the 55 with lower-performing students that used to get passed back and forth between Tustin High and Foothill. Since Beckman opened they've been at Foothill</blockquote>It is more than a wedge. Almost all of Tustin south of the 5 is an aging apartment and condo jungle. Years ago, many were occupied by Marines and the working poor, then in the 80s by Vietnamese immigrants; now it is mainly Mexican.</blockquote>


Not true.



There are a lot of SFRs in small developments from the 60s.



The apartments are mostly within a few hundred yards of the freeways (5 and 55 and 22), the SFRs are further out.
 
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