Shell Shock!

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aeneid_IHB

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<p>I have read and know how most posters on these forums feel about Plaza 3000 and Plaza Irvine. Today, I had the chance to stop by the sales office for some information. I am genuinely interested in a high rise condo. I am seriously considering living downtown San Diego when the market stablizes a bit. As most of you know, downtown SD and the of Plaza 3000 are as different as day and night in terms of location. </p>

<p>I learned from the sales lady that two towers named Plaza Irvine are practically sold out. There are just two units left. That is pretty good for considering today's market. However, I forget to ask about the remaining units of the Plaza 3000. Considering today's market condition and the lack of view, and nothing around these towers, I was shock at the prices. The cheapest units of the Plaza Irvine is $1,179,000 for a 1790 sqf 2 bed/2bath unit on the 6th floor. HOA is 1043. For the Plaza 3000 The cheapest unit is a 1 bed/2 bath unit is for a 1,370 sqf unit on 1st to 5th floor. HOA is 868/month. </p>

<p>Likes about the Plaza 3000: 1) Concrete construction 2) Condo so less maintenance required on my part 3) close to freeway and business center 4) no mello roos</p>

<p>Dislikes about the Plaza 3000 1) Prices 2) location [nothing close to the building where one can walk to] </p>

<p>I am still shock at these prices. In order to purchase a unit, one must go through the prefer lender and "Rememberl our high rise residence availability is limited and the pricing may increase, so it is important not to wait once you are pre-qualified to decide to call us." That was the funniest line of all. </p>

<p>What do you housing bears make of this?</p>
 
I have long asked the same question, and in fact your prices are even higher than what I thought they were last year, and just simply incredible that the pricing has not dropped like a rock due to the negatives you stated and the overall market conditions.
 
Have you checked the resale market for The Plaza? There are plenty to chose from and a lot less than what the builder is trying to sell them for. I saw one in the 5000 building down to $649k and it is on a decent floor. Plus do you really want Scott Boras as your neighbor?
 
<p>graphix, </p>

<p>I have no idea who Scott Boras is? Is he a celeb? I might buy one of these units if the prices were more reasonable. I think about 300 to 400 K less than what they asking right now. I think I am just dreaming. For me, that is my "perceived" value! I took a quck look at the Plaza Irvine listing on <a href="http://www.octowers.com">www.octowers.com</a>, the prices were still pretty high. They were all in the 1+ million per unit. I am not sure if those were resale or from the builder's. </p>

<p>fumbling, I did not check the prices last year so cannot say whether or not prices have increased. Given the maket conditions, I think the price might be a bit less outrageous. I guess I was just dreaming. </p>
 
<a href="http://en.wikipedia.org/wiki/Scott_Boras">Scott Boras</a>. He isn't the most friendly person I have met. I don't trust the octowers website. I have checked in the past and the numbers don't all match to what is real. You aren't dreaming that prices will go that low. Watch what happens with Central Park West and wait until the foreclosures of the mortgage brokers start at Marquee.
 
<p>i know redfin shows active listings, but does it have an option to show sold or pending? For example if a listing disappears, how can i check on redfin if the seller took it off the market or it got sold?</p>
 
<p>Aeneid,</p>

<p>You have no kid and single or possibly a newly wed. Urban dwellers like the status and the feeling of above it all. The powerful imagery displayed in seductive ads illustrating the lifestyle that could take place on the balcony of a highrise. The model has a glass of wine in her hand and she is wearing a 4-1/2 stilleto waiting for you at the balcony while the wind blowing on her hair revealing her perfect make-up and red lucious lips. </p>

<p>Go to Vegas and save yourself a million dollars.</p>
 
<p>bkshopr,</p>

<p>First, the marketing does not really get to me. I like the Plaza because of the amenties it offers. For example, I cannot afford to have my own gym if I were to live in a single family home. There will be no space for it. For example, a friend of mine just told me the she just listed her house for 760K for a 20 yearh old 1600 sqf in Irvine. I don't remember specifically which development she is at. So if I were to pay 760K for that 1600 sqf, I dont know where my "home" gym will fit. I thought the Plaza Irvine would have some units in the high 600K or something. If I knew about the outrageous price, I would have not stopped by and tried to look at the model. I do like to go swimming now and then. I suppose there is the LA Fitness Club, but it not the same when you by the pool and get some sun. can have a pool in my yard yard. It would not make too much of financial sense to have a pool for a single person or two. </p>

<p>Second, I absolute detest the stucco construction. Plaster would be ok but you don't find those often these days. Third, I don't think it is all about the status.For me it is all about less responsibilies. I like to drive an inexpensive car, collect less things in house, wear stuffs that are on sale. I like to live in a small quarter. 1600 to 2000 isqf s ideal for me. Even 1200 sqf would be fine too. I am all for less material posession and more about financial freedom. I thought the Plaza might somehow fit the bill. A purchase into the Plaza is more about financial slavery. </p>

<p>BTW, if you look at Vegas, all the nice developments, such as the Turnerby (sp?), the MGM Grand Residence, and the Trump Tower, the prices are not as outrageous but not too far from it. At least the weather in Irvine is nice. </p>
 
<p> </p>

<p>Aeneid,</p>

<p>Your attitude does not fit the demographic profile of a high rise dweller. You make very careful decisions and you are very health conscious. I would suggest you to think about your long term goals. Many home owners moved around because the purchasing decision was made to satisfy the immediate short term goal. Think about getting married with kids. Wife likes a garden and kids like a swing set. Women hate parking garages.</p>
 
<p>Bk,</p>

<p>U're right, again. My wife and I looked at the mid rise condos a couple of years back. And she did not like the idea of the parking garage. Asides from the safety issue, it would be such an inconvenient to have to run back and forth to the car to transfer the grocery bags. Not to mention all the dings on the car doors =).</p>
 
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