Waiting to pull the trigger...

[usctrojancpa]

where are you moving to IndieDev?

I've kind of narrowed it down in the past year, but it'll probably be CDM (wife's favorite), South Laguna Beach, or Dana Point. We were looking in Newport for a while (Peninsula, Balboa, and Coast) but couldn't find a community that we felt at home with, or were satisfied with what we were getting for the price point.

My mom's BF was also thinking about buying over in CDM.  He has two fully paid off homes in Irvine (older Northwood homes) that he'd sell to buy the CDM home but he won't pull the trigger because his property tax bill on the CDM home will be 5x times what he's paying in property taxes on his 2 Irvine homes. 

 

[rkp]

growing up in WLA and living right in the heart of Santa Monica for a period, i really love CDM.  its just way too expensive for us and i am not a fan of feeling completely out of place every time i go out there.  its very single race oriented...

 

[IndieDev]

We're not looking to buy a palace or anything, in fact it's probably going to be a 3/2 or 4/2 around 2,000 sqft probably built in the 60s. I'm almost sure we'll also end up having to spend money to remodel. But to me it's it's worth it. The clean air, the scenery, perfect. It's just paper.

I do agree that the three locations we're considering are very white washed, but I have to ask why that makes you uncomfortable? Do you have bad experiences with older white folks? 

 

[traceimage]

nice.  If i had money, or made real money, I'd go for eastbluff or dover shores...  i dont even think the port streets....   

i cant even afford irvine... 

sad...

Eastbluff is my dream neighborhood...

 

[iacrenter]

I've been looking on and off for 4 yrs--been to numerous open houses, broker previews, new model grand openings and still haven't found that sweet spot. Good location, price, and layout.

Like many others on the old IHB and the current TI, I've been hoping for that great Irvine price drop for years. Percentage wise, prices have come down but not as much as some surrounding communities and not to the degree of the Inland Empire. I was hoping for a price collapse and an onslaught of shadow inventory (Las Vegas style) but that has not been the case.

From what I've read in the news, there seems to be an acceleration of foreclosures from BoA since they need cash. Will this translate to more supply and lower prices? Time will tell...

There also seems to be no rush to get into a low interest mortgage. A weak economy and the Fed signaling they will keep their rates near zero, probably means low mortgage rates for the next 18 months.

For now I am happy renting, saving, and watching the market carefully.

 

[davenlei]

where are you moving to IndieDev?

I've kind of narrowed it down in the past year, but it'll probably be CDM (wife's favorite), South Laguna Beach, or Dana Point. We were looking in Newport for a while (Peninsula, Balboa, and Coast) but couldn't find a community that we felt at home with, or were satisfied with what we were getting for the price point.

My brother in law bought a place in CDM a few years ago and he loves it.  I like going there to hang out at his house and the closeness of Fashion Island, the beach, Rose's donuts, Bandera, GulfStream, etc. is great.  I would not mind buying there if I had the cash needed to get into something the size I wanted.

As you probably know I live in South Laguna Niguel (walking distance to Dana Point) and I absolutely love it.  It is a bit more laid back than CDM and a little less 'concrete jungle' if you know what I mean.  I like running to Salt Creek beach from my house every week and the trails are GREAT!.  Traffic is less of an issue in South Laguna and taking the scenic drive on PCH to get to Laguna Beach or Newport is something I enjoy.  The only drawback is it is a little more of a drive to business centers (Irvine) but I love the little restaurants and atmosphere down here.

 

[rkp]

We're not looking to buy a palace or anything, in fact it's probably going to be a 3/2 or 4/2 around 2,000 sqft probably built in the 60s. I'm almost sure we'll also end up having to spend money to remodel. But to me it's it's worth it. The clean air, the scenery, perfect. It's just paper.

I do agree that the three locations we're considering are very white washed, but I have to ask why that makes you uncomfortable? Do you have bad experiences with older white folks? 

i misspoke - single race areas dont bother me at all other than i personally prefer a bit more diversity.  what gets me about CDM is being looked at as an outsider and rightfully so as i dont live in CDM   but i get the feeling that wouldnt change if i really lived there...maybe its in my head

 

[IndieDev]

where are you moving to IndieDev?

I've kind of narrowed it down in the past year, but it'll probably be CDM (wife's favorite), South Laguna Beach, or Dana Point. We were looking in Newport for a while (Peninsula, Balboa, and Coast) but couldn't find a community that we felt at home with, or were satisfied with what we were getting for the price point.

My brother in law bought a place in CDM a few years ago and he loves it.  I like going there to hang out at his house and the closeness of Fashion Island, the beach, Rose's donuts, Bandera, GulfStream, etc. is great.  I would not mind buying there if I had the cash needed to get into something the size I wanted.

As you probably know I live in South Laguna Niguel (walking distance to Dana Point) and I absolutely love it.  It is a bit more laid back than CDM and a little less 'concrete jungle' if you know what I mean.  I like running to Salt Creek beach from my house every week and the trails are GREAT!.  Traffic is less of an issue in South Laguna and taking the scenic drive on PCH to get to Laguna Beach or Newport is something I enjoy.  The only drawback is it is a little more of a drive to business centers (Irvine) but I love the little restaurants and atmosphere down here.

Yeah I love that CDM is literally only a 10 minute jaunt to Irvine, and maybe 20 minutes to Tustin (for the odd occasion I need to go into the office). I actually prefer the Javier's on PCH over the one in Irvine (maybe it's just perception rather than taste). Your brother-in-law is a lucky man.

I personally like South Laguna and Dana Point more because I think it's a little less crowded like you mentioned. How far is Monarch beach from where you live?

 

[IndieDev]

We're not looking to buy a palace or anything, in fact it's probably going to be a 3/2 or 4/2 around 2,000 sqft probably built in the 60s. I'm almost sure we'll also end up having to spend money to remodel. But to me it's it's worth it. The clean air, the scenery, perfect. It's just paper.

I do agree that the three locations we're considering are very white washed, but I have to ask why that makes you uncomfortable? Do you have bad experiences with older white folks? 

i misspoke - single race areas dont bother me at all other than i personally prefer a bit more diversity.  what gets me about CDM is being looked at as an outsider and rightfully so as i dont live in CDM   but i get the feeling that wouldnt change if i really lived there...maybe its in my head

I see. Well, if you ever feel left out, you can come join me on my front lawn sometime when I have my BBQs as long as you don't reveal my location to my mortal enemy IHO.

 

[irvinehomeowner]

.... as long as you don't reveal my location to my mortal enemy IHO.

Mu ha ha.

I would like to live near the ocean someday... maybe I'll jump on IR's Buy Vegas Wagon and then when Cali drops into the Pacific, I'll have my 180 view of the water.

 

[IndieDev]

.... as long as you don't reveal my location to my mortal enemy IHO.

Mu ha ha.

I would like to live near the ocean someday... maybe I'll jump on IR's Buy Vegas Wagon and then when Cali drops into the Pacific, I'll have my 180 view of the water.

 

[davenlei]

where are you moving to IndieDev?

I've kind of narrowed it down in the past year, but it'll probably be CDM (wife's favorite), South Laguna Beach, or Dana Point. We were looking in Newport for a while (Peninsula, Balboa, and Coast) but couldn't find a community that we felt at home with, or were satisfied with what we were getting for the price point.

My brother in law bought a place in CDM a few years ago and he loves it.  I like going there to hang out at his house and the closeness of Fashion Island, the beach, Rose's donuts, Bandera, GulfStream, etc. is great.  I would not mind buying there if I had the cash needed to get into something the size I wanted.

As you probably know I live in South Laguna Niguel (walking distance to Dana Point) and I absolutely love it.  It is a bit more laid back than CDM and a little less 'concrete jungle' if you know what I mean.  I like running to Salt Creek beach from my house every week and the trails are GREAT!.  Traffic is less of an issue in South Laguna and taking the scenic drive on PCH to get to Laguna Beach or Newport is something I enjoy.  The only drawback is it is a little more of a drive to business centers (Irvine) but I love the little restaurants and atmosphere down here.

Yeah I love that CDM is literally only a 10 minute jaunt to Irvine, and maybe 20 minutes to Tustin (for the odd occasion I need to go into the office). I actually prefer the Javier's on PCH over the one in Irvine (maybe it's just perception rather than taste). Your brother-in-law is a lucky man.

I personally like South Laguna and Dana Point more because I think it's a little less crowded like you mentioned. How far is Monarch beach from where you live?

Maybe two miles or so at most? 

I absolutely like the 'downshifted' vibe I get down here.  To be honest it also makes me feel a little more insulated from the riff-raff in other parts of the county (I know that is not truly the case but it feels like it).

The one bummer is they closed the Edwards Cinemas near my house but apparently they are retrofitting it to be a 'high end' theater (private seating, servers, etc.)  It will suck to pay $30 a ticket.  Guess I will have to trek to Kalidescope for my 'cheap' movies.

My brother-in-law is absolutely lucky.  He has a large lot, partial view of the ocean and LOTS of equity from what he paid against the homes current value.  He works hard and got lucky with the timing of the house.  He is a good guy and deserves it.

BTW, I like the Javiers on PCH better as well.  Food is pretty much the same but I like the covered seating area there. 

 

[kinetics]

Javier's on PCH is definitely more fun and a cougar den for sure.

 

[LookieLucy]

Still waiting. We actually almost bought twice (new homes) and backed out. And we got priced out of a short sale.

There really aren't many homes to choose from. We keep hoping to find that dream home at that deal of a price but it hasn't happened.

Think my husband is tired of looking for homes. 

Since we own we aren't in much of a rush. But our little baby is a toddler now and I wish she had a nice park to run to.

-ll

Inspired by the "is Irvine affordable" thread. Have any renters out there been wanting to buy for a very long time (say two or more years), but you are waiting because you expect prices to fall? If so, how will you know when it's time to pull the trigger?