Torrey at Beacon Park

NEW -> Contingent Buyer Assistance Program
Again, as I have said before...

- The school situation is being sorted out.  New schools will be built and they will be just fine. 
- I cannot hear Jamboree from the lot which I purchased.  Now, would I buy a lot that backs to Jamboree like all those Huntley homes?  Of course not.
- The hangars will be torn down.  When? Who knows.  But, they won't be there forever.

So when the school situation gets sorted out and and hangars are no longer there, then what will people say? 
 
Perspective said:
You do realize the "boonies" are just a few miles away, right? You do accept that the "boonies" are in a much prettier area, no? You understand that Jamboree backing Greenwood is a freeway? And this is all before we get to the two massive WWII relics destroying every view in Greenwood.
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Much prettier?  I would say no.
 
Which development did you buy?

Even when (with TUSD that when could be a long time) the school situation is settled, it will sell for a discounted price vs Irvine. No problem, imo with that since it's being sold that way now, but no one should expect to see a significant narrowing of that gap.
 
Perspective said:
You do realize the "boonies" are just a few miles away, right? You do accept that the "boonies" are in a much prettier area, no? You understand that Jamboree backing Greenwood is a freeway? And this is all before we get to the two massive WWII relics destroying every view in Greenwood.
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What the...
I don't live in Tustin anymore (did for years) but I don't see what's wrong with looking at the hangars. Just wrote about this in the other B.P. thread: http://www.talkirvine.com/index.php/topic,12439.msg275527.html#msg275527
The "relics" aren't really "destroying" anything except maybe the coffers.
 
I hate how Standard Pacific is like the only builder who does not provide the sales info or map of the homes that are available, sold, reserved, etc. like all other builders do.

Very annoying.
 
If you read this message, you must be showing some interest in Torrey or million dollar or similar homes. Means, you are at a price range of $1.3m and up.

Just curious, What do you do for living to pay this mortgage? :) And how much do you make per year?

By the way, I am your neighbor with 900k home after stretching my wallet really hard. 
 
java123 said:
If you read this message, you must be showing some interest in Torrey or million dollar or similar homes. Means, you are at a price range of $1.3m and up.

Just curious, What do you do for living to pay this mortgage? :) And how much do you make per year?

By the way, I am your neighbor with 900k home after stretching my wallet really hard.
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where did you end up buying? PP or BP?
 
Does anyone know how the Torrey homes are selling?

Thought these were the best homes in Beacon Park so we entered into contract on one of these a few months ago (moving from out of state).  Lately we have become a little concerned with all the quick-move-in inventory available... makes me wonder if I made a bad investment.

Any thoughts from someone who knows the market in the area?
 
vik000 said:
Does anyone know how the Torrey homes are selling?

Thought these were the best homes in Beacon Park so we entered into contract on one of these a few months ago (moving from out of state).  Lately we have become a little concerned with all the quick-move-in inventory available... makes me wonder if I made a bad investment.

Any thoughts from someone who knows the market in the area?
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Presumably you bought the house because you felt it was worth the price. That's all that matters - that you like it. It's not an investment. It's a home with a great forced-savings feature.
 
Perspective said:
vik000 said:
Does anyone know how the Torrey homes are selling?

Thought these were the best homes in Beacon Park so we entered into contract on one of these a few months ago (moving from out of state).  Lately we have become a little concerned with all the quick-move-in inventory available... makes me wonder if I made a bad investment.

Any thoughts from someone who knows the market in the area?
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Presumably you bought the house because you felt it was worth the price. That's all that matters - that you like it. It's not an investment. It's a home with a great forced-savings feature.
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I hear this all the time. That the equity payment is the forced savings feature. Last time I checked you will always need a house. It's the debt repayment. You can't just cash it out and go spend it freely without selling the house.
 
qwerty said:
I hear this all the time. That the equity payment is the forced savings feature. Last time I checked you will always need a house. It's the debt repayment. You can't just cash it out and go spend it freely without selling the house.
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Exactly it is debt repayment when you take out a mortgage.  The interest rate is typically a little higher than the inflation forecast over the next 30 years.  If something catastrophic happens such as losing a job or business within 5 years of buying a home then you might not get all of your money back.  In the first 5 years most of your money goes towards paying the interest. 

A house is always needed but people don't have to get an expensive house.  I would rather have a smaller house and not worry about making mortgage payments or just rent.  Buying a home as an investment by taking out a mortgage imho isn't a good idea.
 
vik000 said:
Does anyone know how the Torrey homes are selling?

Thought these were the best homes in Beacon Park so we entered into contract on one of these a few months ago (moving from out of state).  Lately we have become a little concerned with all the quick-move-in inventory available... makes me wonder if I made a bad investment.

Any thoughts from someone who knows the market in the area?
Click to expand...

Have you closed? Beacon Park is selling slowly in general, outside of Ellwood.  The Cal Atlantic homes (Torrey, Oakmont and Legend) are faring the worse it would seem.  But then again, K Hov's Rosemont lowered their prices significantly from opening day; not sure if Cal Atlantic is on the same wave length (guess you would know)?

If the Beacon Park Bengals churn out NCAA athletes, err I mean scholars, kids don't start dying at Portola High from the cancer-inducing remnants of the former base, if the actual Great Park pans out, it will be a good "investment".  That's a lot of hypotheticals but more than likely will happen.  And if not, this is Irvine, there is always intrinsic monetary value.

I'm just happy that the current homes are not selling for less than the one I just closed on.  :'(
$ aside we love it at Beacon Park (and we used to live in Quail Hill which is in a league of its own) I am a little concerned for my kids though - if they start grading on a curve at BP elementary, they're completely screwed (versus being only somewhat screwed  ::) ???

Good Luck!
 
I actually am starting to feel better about my purchase.
The home is beautiful and if I look at the houses that are in the same league in nearby communities such as PP or PS - our home blows them out of the water for a couple hundred thousand less.  If you look at the house quality, the lot size, and the easy tollroad/freeway access, I am happy.  If all the "what-ifs" go our way in the next 10 years and the house appreciates considerably, I will be really happy.

All in all, we love the idea of BP with the school and the park so central to the neighborhood, we look forward to living there for the next 10 years or so until our kids move on to high school.... then we are moving to Hidden Canyon.
 
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