West Irvine Comps

NEW -> Contingent Buyer Assistance Program
[quote author="arctichaze" date=1213755112]Is Sheridan the gated neighborhood at the corner of Jamboree and Portola?</blockquote>
[quote author="tenmagnet" date=1213755824]So where does 53 Legacy Way fall, in the ?Independence? section?

That dog still hasn?t closed.

3,600+ sq. feet @ $850K

</blockquote>


<img src="http://irvinerealtorsite.com/westirvine.JPG" alt="" />



Arctic - Sheridan is the top-right of the map. Ardmore, Bellevue, and Bradford are the condos, all other streets in there are SFRs.



ten - 53 Legacy is the largest model West Irvine has to offer. It backs to the school (next to Valencia Park), however, and will set a pretty low standard for price/sqft when it finally does close. It's not sexy, but it's big. It's a defensive lineman of a house, not a QB.
 
[quote author="arctichaze" date=1213761502]Its amazing what info you can get from this forum... all you need to do is ask.



:coolsmile:



Thanks guys!</blockquote>


I hope Panda is not reading this!
 
I'm wondering if I could persuade anyone to bust out their fancy-dancy foreclosure radar map of the Ivywood complex (SE of Jamboree & Robinson). I'd sort of like to see what kind of distressed properties we'll have coming up. There is only one home for sale there with a listing that boasts what low turn-over they have. I like this complex and am willing to award multiple thumbs-up to the person who can pull up such a map. Thank you.
 
[quote author="SoCal78" date=1239939570]I'm wondering if I could persuade anyone to bust out their fancy-dancy foreclosure radar map of the Ivywood complex (SE of Jamboree & Robinson). I'd sort of like to see what kind of distressed properties we'll have coming up. There is only one home for sale there with a listing that boasts what low turn-over they have. I like this complex and am willing to award multiple thumbs-up to the person who can pull up such a map. Thank you.</blockquote>


Sorry it took so long... I've got this strawberry/boysenberry/peach/rhubard jam on my fingers that just won't seem to wash off.



Zero in Ivywood for right now. The home on Parma (Concord tract) is the nicest one going out in West Irvine right now.

Good luck,

-IR2



<img src="http://irvinerealtorsite.com/IvywoodForeclosures041609.JPG" alt="" />
 
[quote author="IrvineRealtor" date=1239942211]Sorry it took so long... I've got this strawberry/boysenberry/peach/rhubard jam on my fingers that just won't seem to wash off.</blockquote>


Thanks for the map!



<img src="http://www.uploadandgo.com/images/pooh_jam.jpg" alt="" />
 
[quote author="ipoplaya" date=1213683544]

247.35 NW II

238.78 Woodbury

221.28 QH

219.04 NW Pointe

207.45 Northwood

204.83 VoC

204.09 Northpark

203.19 Westpark

202.72 West Irvine

197.16 Woodbridge</blockquote>


IPO, I was wondering if it's easy for you to update these numbers?



[quote author="ipoplaya" date=1213683544]People are still paying premiums to live in the newer neighborhoods such as QH, Woodbury, and NW II...</blockquote>


Wondering is this still holds true? I would guess so...
 
[quote author="SoCal78" date=1239939570]I'm wondering if I could persuade anyone to bust out their fancy-dancy foreclosure radar map of the Ivywood complex (SE of Jamboree & Robinson). I'd sort of like to see what kind of distressed properties we'll have coming up. There is only one home for sale there with a listing that boasts what low turn-over they have. I like this complex and am willing to award multiple thumbs-up to the person who can pull up such a map. Thank you.</blockquote>


SoCal...Having leased a home in Ivywood for almost 6 months now and getting to know the neighborhood a bit, think I can confirm the low turnover. At least on our block, it seems most of my neighbors are original owners, all moving in at the same time in early 2001. We also lease from the original owners of our home as well, and they lived in the house until they moved to a bigger home last summer. To my knowledge, we are the only renters in the immediate vicinity. So it is indeed a very stable neighborhood. Another oddity is the Zillow on our house. Since moving in Dec, we have watched the Zillow value go up by more than $60k. I know I shouldn't put too much stock in that, but I guess it is further indicator that there are no relevant comps tanking the values here.



We love this neighborhood. Hope to (plan to) buy here.
 
Thanks, CK. Any clues regarding whether the neighbors / orig. owners took out HELOCs or refi'd into larger amounts, though?
 
[quote author="Roo" date=1239949250][quote author="ipoplaya" date=1213683544]

247.35 NW II

238.78 Woodbury

221.28 QH

219.04 NW Pointe

207.45 Northwood

204.83 VoC

204.09 Northpark

203.19 Westpark

202.72 West Irvine

197.16 Woodbridge</blockquote>


IPO, I was wondering if it's easy for you to update these numbers?



[quote author="ipoplaya" date=1213683544]People are still paying premiums to live in the newer neighborhoods such as QH, Woodbury, and NW II...</blockquote>


Wondering is this still holds true? I would guess so...</blockquote>


Updated with closing CS figures since 2/1/09:



222.17 Woodbury

219.47 TRidge

203.64 Quail

201.42 West Irvine

200.64 Northwood II

200.31 Northwood Pointe

199.16 El Camino

191.98 TRock

186.70 Old Northwood

185.85 Westpark

185.78 Northpark

185.12 Walnut

182.95 Woodbridge

173.92 Tustin Ranch

172.55 University



West Irvine has been holding up surprisingly well since I sold...
 
[quote author="SoCal78" date=1240270351]Thanks, CK. Any clues regarding whether the neighbors / orig. owners took out HELOCs or refi'd into larger amounts, though?</blockquote>


I doubt there is much HELOC abuse amongst Ivywood owners. It's a value oriented neighborhood with youngish families. Lots of 3-7 year old kids. Not really the type of place you'll find a concentration of speculative types. We almost bought into that tract, although I thought $425K was too much money to spend on a house back in 2001, so we went with our West Irvine condo instead. If we had bought, we'd be sitting on a $300K mortgage that we could afford on the lesser or our dual incomes by itself. That is probably pretty typical of the residents there. Make decent money and don't waste it on toys or lux items. The typical Ivywood resident is probably prouder of their 529 plan balances than their new car, which is likely to be a Honda or Toyota vs. a Benz or Bimmer anyway.
 
[quote author="ipoplaya" date=1240273236][quote author="SoCal78" date=1240270351]Thanks, CK. Any clues regarding whether the neighbors / orig. owners took out HELOCs or refi'd into larger amounts, though?</blockquote>


I doubt there is much HELOC abuse amongst Ivywood owners. It's a value oriented neighborhood with youngish families. Lots of 3-7 year old kids. Not really the type of place you'll find a concentration of speculative types. We almost bought into that tract, although I thought $425K was too much money to spend on a house back in 2001, so we went with our West Irvine condo instead. If we had bought, we'd be sitting on a $300K mortgage that we could afford on the lesser or our dual incomes by itself. That is probably pretty typical of the residents there. Make decent money and don't waste it on toys or lux items. The typical Ivywood resident is probably prouder of their 529 plan balances than their new car, which is likely to be a Honda or Toyota vs. a Benz or Bimmer anyway.</blockquote>
Give me some addresses and I'll check out the debt logs.
 
[quote author="ipoplaya" date=1240273236] The typical Ivywood resident is probably prouder of their 529 plan balances than their new car, which is likely to be a Honda or Toyota vs. a Benz or Bimmer anyway.</blockquote>


Yep. Although I hear some of the people living there have an LV purse fetish.
 
[quote author="usctrojanman29" date=1240273512][quote author="ipoplaya" date=1240273236][quote author="SoCal78" date=1240270351]Thanks, CK. Any clues regarding whether the neighbors / orig. owners took out HELOCs or refi'd into larger amounts, though?</blockquote>


I doubt there is much HELOC abuse amongst Ivywood owners. It's a value oriented neighborhood with youngish families. Lots of 3-7 year old kids. Not really the type of place you'll find a concentration of speculative types. We almost bought into that tract, although I thought $425K was too much money to spend on a house back in 2001, so we went with our West Irvine condo instead. If we had bought, we'd be sitting on a $300K mortgage that we could afford on the lesser or our dual incomes by itself. That is probably pretty typical of the residents there. Make decent money and don't waste it on toys or lux items. The typical Ivywood resident is probably prouder of their 529 plan balances than their new car, which is likely to be a Honda or Toyota vs. a Benz or Bimmer anyway.</blockquote>
Give me some addresses and I'll check out the debt logs.</blockquote>


20-50 Willowhurst

20-50 Meadow Glen

2-43 Asbury



I'd guess that the average market value of an Ivywood home was around $700-725K right now. Would be interesting to see how many you could find with greater than an 80% LTV...
 
[quote author="ipoplaya" date=1240277544][quote author="usctrojanman29" date=1240273512][quote author="ipoplaya" date=1240273236][quote author="SoCal78" date=1240270351]Thanks, CK. Any clues regarding whether the neighbors / orig. owners took out HELOCs or refi'd into larger amounts, though?</blockquote>


I doubt there is much HELOC abuse amongst Ivywood owners. It's a value oriented neighborhood with youngish families. Lots of 3-7 year old kids. Not really the type of place you'll find a concentration of speculative types. We almost bought into that tract, although I thought $425K was too much money to spend on a house back in 2001, so we went with our West Irvine condo instead. If we had bought, we'd be sitting on a $300K mortgage that we could afford on the lesser or our dual incomes by itself. That is probably pretty typical of the residents there. Make decent money and don't waste it on toys or lux items. The typical Ivywood resident is probably prouder of their 529 plan balances than their new car, which is likely to be a Honda or Toyota vs. a Benz or Bimmer anyway.</blockquote>
Give me some addresses and I'll check out the debt logs.</blockquote>


20-50 Willowhurst

20-50 Meadow Glen

2-43 Asbury



I'd guess that the average market value of an Ivywood home was around $700-725K right now. Would be interesting to see how many you could find with greater than an 80% LTV...</blockquote>
Ok, I'll get back to you this evening with an excel spreadsheet since I dont have my safekey with me to access that info at the moment.
 
Why is there no talk of the weather in W Irvine? Isn't that the whole reason to live in OC? I would think its cooler on the west side esp west of the 405. Everything east of the 5 seems hot to me when I'm over there, but anything north of 78 is hot in my book. I guess its not that important to IHB users since it hasn't been brought up.
 
[quote author="norcaljeff" date=1240292170]Why is there no talk of the weather in W Irvine? Isn't that the whole reason to live in OC? I would think its cooler on the west side esp west of the 405. Everything east of the 5 seems hot to me when I'm over there, but anything north of 78 is hot in my book. I guess its not that important to IHB users since it hasn't been brought up.</blockquote>


According to weather.com at 4pm today it is 96 degress in 92602 (West Irvine) and 97 degrees in 92603 (south of 405). I drive directly from West Irvine to 92603 and beyond quite often. I know people like TonyE on the main blog rant about the heat north of the 5 all the time, but honestly I don't notice a whole lot of difference within the city of Irvine. I only really notice the weather change once you get close to the water --- and none of Irvine is *close* to the water.



For reference, weather.com is reporting 77 for Laguna Beach right now.
 
[quote author="CK" date=1240294396][quote author="norcaljeff" date=1240292170]Why is there no talk of the weather in W Irvine? Isn't that the whole reason to live in OC? I would think its cooler on the west side esp west of the 405. Everything east of the 5 seems hot to me when I'm over there, but anything north of 78 is hot in my book. I guess its not that important to IHB users since it hasn't been brought up.</blockquote>


According to weather.com at 4pm today it is 96 degress in 92602 (West Irvine) and 97 degrees in 92603 (south of 405). I drive directly from West Irvine to 92603 and beyond quite often. I know people like TonyE on the main blog rant about the heat north of the 5 all the time, but honestly I don't notice a whole lot of difference within the city of Irvine. I only really notice the weather change once you get close to the water --- and none of Irvine is *close* to the water.



For reference, weather.com is reporting 77 for Laguna Beach right now.</blockquote>


Lucky SOBs in LB :) So, for sake of argument, lets say there are 2 properties and they are split between the city limits of Irvine and NB, but both are pretty much the same in every respect. Which is higher priced, NB because it's nearer the water or Irvine b/c of schools? Or are there other factors? I'm simply amazed that people aren't that concerned over weather. Guess I learned something for the week already, now I can just relax.
 
[quote author="norcaljeff" date=1240294690] So, for sake of argument, lets say there are 2 properties and they are split between the city limits of Irvine and NB, but both are pretty much the same in every respect. Which is higher priced, NB because it's nearer the water or Irvine b/c of schools? Or are there other factors? I'm simply amazed that people aren't that concerned over weather. Guess I learned something for the week already, now I can just relax.</blockquote>


NB higher priced, hands down. I don't think its that the weather is not important, I'd live in Newport Coast in a second if I could afford the price of admission. Not like the schools are *bad* there. But last I checked they were not selling anything for $500k down by the beach. But the weather in Irvine is a hell of a lot better than Corona, where the weather is only slightly better than Phoenix.
 
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