Villages of Columbus - Columbus Square - Camden Place

NEW -> Contingent Buyer Assistance Program
Pricing as of May 01, 2008 -



For Residence3 (3/3 plan)... $500,000 even.



I still think it's ridiculous price for a townhouse in Tustin. Give it about 6 more months..that price will drop back to $450k or so.

Lennar is smoking something.
 
You use "Tustin" with tone. Columbus Square feels more like Irvine than most parts of inland Irvine. It's certainly closer to the job core (office towers). Once the base is developed (which could take 10 years), it will be a mixed-use area with the District within walking distance.



$500,000 is a decent price considering what it would rent for today, BUT, considering the mello roos, I'd hold-out for further price reductions. If you can't buy one from Lennar, you'll be able to buy one second-hand shortly.
 
[quote author="asianinvasian" date=1210122556]For the millionth time, Tustin 92782 has BETTER demographics than Irvine.</blockquote>


talk about cherry-picking...



thats a pretty biased choice of zip code. you're probably basing off census numbers which are always several yrs old. 92782 historically has meant the tustin ranch area, primarily the ultra-exclusive tustin ranch estates and area surrounding the golf course. as the more dense columbus square area gets lumped into 92782, those demographic figures are going look worse. actually my guess is any demographic data for 92782 does NOT include any of columbus square yet since the community is s new.



that's like lumping quail hill and shady canyon together because they share the same zip. not that quail hill and columbus square are crap, but just saying the zip code data really doesn't mean much.
 
How is a brand new community with million-dollar homes going to bring down the demographic figures? Basically, Tustin is divided into two areas - the poorer side on the Santa Ana border and the richer side on the Irvine border. Any part of Tustin that is within a mile distance from Jamboree is considered affluent. This would include Tustin Ranch, Tustin Field, Columbus Square, and Columbus Grove. If you think Columbus Square is such a bad area, why don't you try buying a home there? I'm pretty sure that the people living there right now are more likely to be higher income than the average Irvine resident. And yes, zip code matters a lot.
 
[quote author="hs_teacher" date=1210130287]If you think Columbus Square is such a bad area, why don't you try buying a home there? I'm pretty sure that the people living there right now are more likely to be higher income than the average Irvine resident. And yes, zip code matters a lot.</blockquote>


like i said, you can NOT compare a resident living in the BEST part of tustin with the AVERAGE irvine resident. it's like someone taking the demographic data from 91436 (part of encino where median income is over 100k) and saying encino is a much nicer town than irvine.



geez, the tustin VOC napoleonic complex is really in full effect... the defensiveness people get over tustin is ridiculous. i'm not trying to say that the area isn't affluent or that it sucks. it's far nicer than many of parts of irvine. but aside from that, you still have to compare apples to apples.



a better comp for 92782 north of the mktplace (tustin ranch) would be quail hill and shady canyon. a comparable $700-900k tract home in that neighborhood go for 800-1000k in quail hill. the same $2.5M customs in tustin ranch estates built in shady canyon would go for $4-5M.



a better comp for 92782 south of the mktplace (VOC) would be north park or northwood II. the market tells us everything we need to know about tustin vs irvine. if they're really the same (or better as you claim than Irvine) go ahead and buy a plan 3 gables and try listing it at prices of similar 3000 sq ft homes in NP, NWII, QH, TR, or even woodbury.
 
this whole discussion is a perfect example of IR's piece on cultural pathology. people are so caught up in keeping-up-with-the-jones mentality, they're constantly feel the need to defend their homes and neighborhoods against anything that might be perceived as better.



put a MV or tustin resident next to an irvine resident and watch him list 100 reasons why their town is just as good as irvine. put someone from newport beach next to the irvine resident and watch the irvine resident get all defensive. same sort of mentality exists with residents of arcadia and alhambra who live in the shadow of san marino. we need to be comfortable with what we've got and just be happy to have such great choices. outside of a few rough neighborhoods scattered about, anything from fullerton down to san clemente is a pretty darn nice place to live.
 
I admit, I was way way defensive. But I've been doing some research. Parts of Tustin is in the lowest income bracket with the lowest home values with the lowest performing schools. The other part is in the highest income bracket, highest home values, and highest performing schools. I think 80% of Tustin is considered working class, but the other 20% is on the other end of the spectrum. That makes Tustin a very interesting city. Personally, I don't like Tustin. I even tell people I live "by Irvine" rather than "in Tustin."
 
wow...what r we talking about here?



I personally don't believe Tustin is a bad place especially in Columbus Grove. Tustin does have its share of bad neighborhoods few miles away...but overall Columbus Grove seems to be a promising and developing area. I just wish they can demolish those blimp domes, it is an eye sore. Nevertheless I still think Irvine is on "average" a better and more affluent city in terms of demographics...but that's just my observation. i've been renting in Irvine for past 4 years and i can tell you rent is much higher in Irvine than most part of Tustin..including home prices.



I'm looking to buy something in Columbus grove because the pricing is somewhat lower than Irvine area on average and might be a good starting point for first time home buyer. For single family, it's a great place to start a family. But if you have kids in junior high and high school...the Tustin District doesn't facilitate education as well as Irvine IMO.



As for Camden place, i think it's a great complex but the pricing is still not line with the market in my opinion. Lennar like other builders are holding off on building expansive home phases until they get their money first..but at the price it is now...i doubt they will move the volume they want. Time will tell...but in 6-8 months... i see further drop in prices of homes. I'll coming knocking then.
 
[quote author="iceeman" date=1210156279]wow...what r we talking about here?



I personally don't believe Tustin is a bad place especially in Columbus Grove. Tustin does have its share of bad neighborhoods few miles away...but overall Columbus Grove seems to be a promising and developing area. I just wish they can demolish those blimp domes, it is an eye sore. Nevertheless I still think Irvine is on "average" a better and more affluent city in terms of demographics...but that's just my observation. i've been renting in Irvine for past 4 years and i can tell you rent is much higher in Irvine than most part of Tustin..including home prices.



I'm looking to buy something in Columbus grove because the pricing is somewhat lower than Irvine area on average and might be a good starting point for first time home buyer. For single family, it's a great place to start a family. But if you have kids in junior high and high school...the Tustin District doesn't facilitate education as well as Irvine IMO.



As for Camden place, i think it's a great complex but the pricing is still not line with the market in my opinion. Lennar like other builders are holding off on building expansive home phases until they get their money first..but at the price it is now...i doubt they will move the volume they want. Time will tell...but in 6-8 months... i see further drop in prices of homes. I'll coming knocking then.</blockquote>


umm...I think the only response to your post is .... duh
 
[quote author="acpme" date=1210128850][quote author="asianinvasian" date=1210122556]For the millionth time, Tustin 92782 has BETTER demographics than Irvine.</blockquote>


talk about cherry-picking...



thats a pretty biased choice of zip code. you're probably basing off census numbers which are always several yrs old. 92782 historically has meant the tustin ranch area, primarily the ultra-exclusive tustin ranch estates and area surrounding the golf course. as the more dense columbus square area gets lumped into 92782, those demographic figures are going look worse. actually my guess is any demographic data for 92782 does NOT include any of columbus square yet since the community is s new.



that's like lumping quail hill and shady canyon together because they share the same zip. not that quail hill and columbus square are crap, but just saying the zip code data really doesn't mean much.</blockquote>


You can stop guessing.



<a href="http://www.mainandmaininc.com/TustinListing.pdf">http://www.mainandmaininc.com/TustinListing.pdf</a>
 
sigh... is this basis of your "VOC demographics are better than irvine" argument? first off, i wouldn't put too much weight in marketing materials being published by tustin legacy.



but fine let's take a look... ok, open up that document and look at page 7. they're comparing legacy park with other retail centers in the area. so its not really apropos to this discussion about housing, but what the hell since you presented it.



<strong>legacy park - tustin, ca </strong>(multiple residential villages with housing types ranging from condos and townhomes to $1M+ SFRs)

median income $83.4k



<strong>irvine spectrum - irvine, ca</strong> (business district with IAC apts nearby - is quail hill included here? it's right at or a little outside 3 mi from spectrum)

median income $81.5k



if you want to take the numbers at face value, i guess you're right. but to anyone that can read between the lines, it says that folks buying shiny new homes in VOC are not much better off than apt dwellers living at the Village. that is not a good long-term signal for legacy park.



asianinvasion -- i'm not calling legacy, or tustin in general, a bad place to live. i'm just saying the comparisons being made are ridiculous. how many people here would salivate if they built plan 3 or 4 gables in irvine but listed at the same columbus square prices? sorry if that offends legacy fans but the real world has spoken.
 
median income for legacy park is 83k only? damn... the cheapest place in there is cambridge lane and it is a one bedroom. and it was selling for 400k. sounds like there is alot of funny loans being taking out in legacy park. the foreclosure man will be coming in about 2-3 years when the arm reset. either that or people will have to come up with a huge amount of money from mom and dad to refi.
 
I'm pretty sure the incomes of the residents at Columbus Square have not been included in these calculations. The way I see it, the Villages of Columbus are south of Tustin Ranch, west of Westpark, and north of the Airport Area - all very decent areas. Thus, VOC must blend in with is neighboring areas in terms of income and wealth. But oy, it comes nowhere near to the Irvine area between UCI and Newport Beach. I swear, that part of Irvine is looking more and more like Newport Coast every day. To think about, the new homes being built south of UCI are some of the most expensive in the county. I'm beginning to believe that the wealth of the county is concentrated between UCI and the Pacific.
 
I just got a call from Lennar, phase 11 and 12 buyers are now offered a $20,000 incentive to be used on upgrades, rate buydown, etc... phase 11 is completely sold out, but I believe phase 12 has availability... score one for the us buyers...
 
[quote author="Chi2Cali" date=1213248284]I just got a call from Lennar, phase 11 and 12 buyers are now offered a $20,000 incentive to be used on upgrades, rate buydown, etc... phase 11 is completely sold out, but I believe phase 12 has availability... score one for the us buyers...</blockquote>
I follow the Camden's price for a couple of months.

The news is good but not good enough to attract buyers as of today's market.
 
Take the incentive $$ and put it in a saving. Wait 15 years and take it out and apply it to your co-pay for your cancer treatments.



[quote author="Chi2Cali" date=1213248284]I just got a call from Lennar, phase 11 and 12 buyers are now offered a $20,000 incentive to be used on upgrades, rate buydown, etc... phase 11 is completely sold out, but I believe phase 12 has availability... score one for the us buyers...</blockquote>
 
BK - WOW! I usually ignore comments I dont agree with but...



Very poor choice of words. You should really know better than that!



[quote author="bkshopr" date=1213251107]Take the incentive $$ and put it in a saving. Wait 15 years and take it out and apply it to your co-pay for your cancer treatments.

</blockquote>
 
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