Questions on Orchard Hills (and other new ons) Effects on existing re-sellers

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pricedoutJay

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I have a few questions about OH.  If they were answered already, I apologize.  I tried researching as much but couldn't find all of my  questions answered.

1.  What's the weather/temperature like in Orchard Hills especially in Summer compare to other parts of Irvine like Westpark and Woodbridge?  I went to see Portola Springs about 3 or 4 yeas ago on a Summer day, and it was minimum 10 deg F hotter than Wespark.  Drive took about 15 min and it was hot and somewhat unpleasant.  I was wondering if OH would be little different.

2. When hundreds of houses become available on top of all the other villages building out, do you think more resale home owners will hold out not to compete with the brand new homes?  Older houses obviously have more space for parking, backyard, and drive ways, but for the same amount of money, new houses look very good in terms of utilization of living spaces and better layout.  I remember in 2004 and 2005 ish homes being massively big but had a lot of compartmentalized rooms and much of dead space in hall way, bathrooms, and entrance area.  Compared to that CV and SG homes look pretty descent.

3. Do re-sellers may have to lower their price to compete with new homes?  If I were selling my home that is 30 years old and not update in upgrades, it may not be easy to attract new buyers when a lot of houses from all direction become more available.  I see busy construction going on in the old Tustin Airfield are near Tustin District also.  Yes, it's not Irvine School District, but for young couple or older ones without kids in school may opt to go their instead of pay a lot more in Irvine....
 
Welcome!

1)  I think PS is especially bad because it's more of a valley than on the hill itself.  OH is on the hill and thus should get more breeze.  Can't say as compared to WP or Woodbridge

2)  Re-sale generally have a few advantages over new homes.  Convenience/certainty:  landscaping, upgrades, and things like window dressing.  You get much more certainty with price and can move in immediately.  Neighborhood is also a factor.
 
everything negative said about portala springs pretty much applies to orchard hills - hot, next to dump, heck, half of orchard hills is going to be assigned to the shitty TUSD, at least PS has IUSD.
 
Your number 3 refers mostly to the old adage of location, location, location. Older homes typically will have a better location than newer and that is why you would see a new construction with all the latest upgrades be priced close to an older outdated home in a supposed better location (with all else equal and with some subjectivity to the location, the rule of thumb I have seen is the closer you are to the ocean the more expensive your land will be). Most of what you pay for is in the location of your property and especially in irvine, what school district you are zoned to. That is why location is stressed so much in real estate.

When I was shopping for a home all the new homes north east of the 405 were going for the same price if not less than any old outdated home south west of the 405. Older homes typically have more space around the house. A bigger lot and more of a yard than all the newer homes. We have seen this trend of more people and less space available so they start packing more houses into each development lot. You have to pay more for the land itself to be west of the 405. And there is definitely a temperature difference between east and west of the 405. 5-10 degrees or so. I think it is much more pronounced during the summer time.

It definitely sucks when you are spending so much money because you might have what is deemed as a better location but you get an outdated home and will have to put in more money to remodel it if you want all the contemporary features. That's life in Irvine. Good luck on your house hunt!
 
OpenSky said:
qwerty said:
everything negative said about portala springs pretty much applies to orchard hills - hot, next to dump, heck, half of orchard hills is going to be assigned to the shitty TUSD, at least PS has IUSD.
Click to expand...

By that definition, Northwood is next to the dump too.
http://goo.gl/maps/ZaU5K

As the crow flies, PS & PP are at least 3x closer to Bowerman than the centerpoint of OH. From the map view, the dump is bearing down on PP/PS like a giant stinky cloud.
Click to expand...

from the eastern most point of OH, to the landfill is what, just a bit over 2 miles if you drew a straight line? pretty close to the dump, northwood pointe is even closer.
 
Welcome to TI pricedoutJay.

1. To get a feeling for the temperature, go up Culver all the way to the as far as you can (above the school), that should give you and idea. As a rule, the farther north you go, it usually warmer.

2. I actually see it as a complimentary effect. If marketed well enough, resale homes can generally give you more bang for your buck than new (but that's my personal opinion).

3. As a correlation to #2, since new home pricing has actually been pretty high, you can get a pretty good price for resale. And, you have the benefits of instant availability, and depending on the condition, no extra costs such as Mello Roos, landscaping, flooring and window covering.
 
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