Sheldon at Greenwood
- Thread starter thelandofnoland
- Start date
NEW -> Contingent Buyer Assistance Program
I think he/she meant Columbus Square which I believe is a better hood than this (minus) the amenities.
Shooby - did you see this place? It is just five minutes away. bigger than any sheldon plan and a very good size lot. the place looks really good and the price is excellent. same school district and HOA is $99 vs sheldons 230+45
https://www.redfin.com/CA/Tustin/1443-Madison-ST-92782/home/12249180
From talking to the realtor, it would appear foot traffic was slow, which surprises me, given 3200 sq foot pretty new house < $1M. 30% discount to Irvine.
Even with the upgrades Sheldon isn't going to 900K+ any time soon, imo.
New is nice but when new is way higher than nearby resale with everything (flooring, window coverings, landscaping) included. lower taxes and HOA and same school district it will hit a wall. Anyone trying to flip or rent out for a profit is in for a big surprise and not the good kind imo.
And now you are a speculator.
If you want to live there, maybe it will go up but if you think you can buy and flip, probably not a good idea since there are costs to sell and if things soften, the builder will just add incentives which resales can't do.
homer_simpson
Well-known member
estrader said:
I think he/she meant Columbus Square which I believe is a better hood than this (minus) the amenities.
qwerty
Well-known member
shooby said:
Shooby - did you see this place? It is just five minutes away. bigger than any sheldon plan and a very good size lot. the place looks really good and the price is excellent. same school district and HOA is $99 vs sheldons 230+45
https://www.redfin.com/CA/Tustin/1443-Madison-ST-92782/home/12249180
I looked at this home over the weekend. Very very nice house. Nice backyard (nothing huge but nice fireplace / bbq area in back...fountain would drain out any noise you'd hear from the occasional train and probably even the recurring aircraft, I'd presume). All that said, when I drove out the other direction, it was weird seeing all of the open space / kind of junk parked over by the school area. I'd have thought Tustin would have figured out a way to cover up some of those eye sores but maybe that all changes with a new school. One thing I can't get out of my head when it comes to this area is how much TUSD misled people and you really don't know what might happen to the rest of the base (Tustin issue), how long it will take to development, what goes in their, etc (which could negatively impact property values or of course work favorably). For example, If I lived their and the Angels got a new stadium deal...that would beyond piss me off and I'd never want to live nearby (I'm a huge baseball fan but dealing with the traffic during the season would drive me bonkers).qwerty said:
From talking to the realtor, it would appear foot traffic was slow, which surprises me, given 3200 sq foot pretty new house < $1M. 30% discount to Irvine.
qwerty
Well-known member
that area you are talking about next to the elementary is going to be a sports park that is supposed to open in the summer of 2016.
http://www.ocregister.com/articles/park-628319-city-sports.html
http://www.ocregister.com/articles/park-628319-city-sports.html
These upgrades included in the price are worth about $10k in total.
-Ceiling J-box in great room, legacy room, and all bedrooms
-Pendant lights pre-wire above kitchen island
-Recess lights in master bedroom
-Additional dining room lower cabinets with granite countertops
-Additional upper cabinets in master bathroom and upstairs linen
-,etc.
On top of that, they offer $3,500 design center credit.
Hope this helps alleviate the price hike shock.....
-Ceiling J-box in great room, legacy room, and all bedrooms
-Pendant lights pre-wire above kitchen island
-Recess lights in master bedroom
-Additional dining room lower cabinets with granite countertops
-Additional upper cabinets in master bathroom and upstairs linen
-,etc.
On top of that, they offer $3,500 design center credit.
Hope this helps alleviate the price hike shock.....
Ready2Downsize
Well-known member
gimble said:
Even with the upgrades Sheldon isn't going to 900K+ any time soon, imo.
New is nice but when new is way higher than nearby resale with everything (flooring, window coverings, landscaping) included. lower taxes and HOA and same school district it will hit a wall. Anyone trying to flip or rent out for a profit is in for a big surprise and not the good kind imo.
Ready2Downsize
Well-known member
And btw, if anyone is trying to rent for a profit, basis is your cost minus land and all this time that houses have been rocketing higher, land is what is mostly going up as far as the county is concerned. Even on resales when taxes are reassessed the county has been applying the increase in value to land which will make it harder to get to a profit since there is less depreciation on the home than there was when houses were significantly less and buying resale isn't going to help.
irvinehomeowner
Well-known member
There are many factors that affect resale prices, it will be hard to determine the direction just based on sales/prices of new homes.gimble said:
Ready2Downsize
Well-known member
New cannot just keep rising and rising if nearby resale are not. New home buyers who want to live in their home, fine, but those who think they can buy, flip or rent are in a different situation. Once the development is sold out, they are a resale home, newer yes, but still a resale with higher taxes, maybe higher HOA and probably smaller lots.
"Then there?s Orange County, a wealthy enclave. It ?softened a little,? he said. He blamed the ?Chinese buyer.? Real estate agents were steering them to resale homes because they were a better deal, after new home prices had ballooned so much. And as Chinese demand wanes, ?it ripples inland, and the further inland you go the more the ripple is felt?.?"
http://wolfstreet.com/2015/01/14/the-american-dream-pops-kb-home-wrecked-other-homebuilders-follow/
"Then there?s Orange County, a wealthy enclave. It ?softened a little,? he said. He blamed the ?Chinese buyer.? Real estate agents were steering them to resale homes because they were a better deal, after new home prices had ballooned so much. And as Chinese demand wanes, ?it ripples inland, and the further inland you go the more the ripple is felt?.?"
http://wolfstreet.com/2015/01/14/the-american-dream-pops-kb-home-wrecked-other-homebuilders-follow/
Ready2Downsize
Well-known member
irvinehomeowner said:
And now you are a speculator.
If you want to live there, maybe it will go up but if you think you can buy and flip, probably not a good idea since there are costs to sell and if things soften, the builder will just add incentives which resales can't do.