What's going into escrow - Irvine and maybe some Tustin too

NEW -> Contingent Buyer Assistance Program
<p class="MsoNormal">821 Polaris seems reasonable at $269/sq.ft. on newer construction ’05.</p>

<p class="MsoNormal">This is the first I’ve seen at this price point $875K.</p>

Not only new but decent size (3,250sq.feet) as well.
 
<p>Only bad thing about 821 Polaris is that it backs up squarely to Jamboree/Peters Canyon... Mello Roos in TF aren't that bad either.</p>
 
<p>$258 per sf seems even more reasonable don't it?</p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1460523">http://www.redfin.com/stingray/do/printable-listing?listing-id=1460523</a></p>

<p>List is 20% off 2005 price.</p>
 
Moffet is not a soon to be busy street. Its a two lane road with a one lane bridge. The developer will have to build a completely new bridge over the channel to connect to the new "golf course resort" that's coming to the other side of Jamboree. Tustin legacy is on the back burner for decades.





I give it 10-15 years before any traffic hits this street, and even then, its not nearly as useful of a street as Warner when going to the district. This is the same as paseo westpark, which sees little traffic except during school time which won't affect moffet.





I personally like the homes that back to Moffet for this reason, and I don't want homes towering over me when I stand in my backyard. I'd rather back to Moffet than Jamboree, Harvard or Warner. If you want a private yard, then you need to back to something, whether its a street or a fire danger open space. If you don't want to use your back yard, then an interior space is better.
 
It's on 1 of 2 entrances into TF2. There's a traffic light there which means that cars will literally be sitting in front of your door waiting for the light. It feeds into CG Tustin. You'll basically have traffic on 3 sides with a house on one side.
 
<p class="MsoNormal">Are you guys referring to 1450 Voyager Drive?</p>

<p class="MsoNormal">I’ve never been to, nor considered that area before. </p>

<p class="MsoNormal">Must admit the price/sq.ft. ($258) is very attractive. </p>

Also like the appeal of new construction.
 
<p class="MsoNormal">Thanks,</p>

<p class="MsoNormal">From the map it looks like a regular stop sign. </p>

I understand where your coming from, the signal light is a major drawback.
 
<p>The satellite map via redfin is wrong about the house location ten... It's actually a few blocks away from where redfin shows it.</p>

<p>One escrow update for this morning. Man, Turtle Rock is really holding its value:</p>

<p><a href="http://www.ipoplaya.com">www.ipoplaya.com</a></p>
 
Getting a sucker to pay 1.1M for 2500 sq ft is one thing. Getting it to appraise would be the next challenge. TR and Northwood point seem to follow their own drummer, but that can't hold for very much longer.
 
<p>Other TR places have sold for greater than $500/sf recently JL. This new one is a bargain comparatively so it shouldn't have a problem appraising...</p>

<p>What is the catalyst you think that would bring TR and NW Pointe down? Things in TR appear to be moving. Not much inventory overhang there. Surely there won't be a bunch of REOs in that neighborhood. </p>

<p>I think NW Pointe is slowing down in terms of sales pace. Had a recently price drop or two there and a listing that expired without getting its price. </p>
 
Turtle Rock, being an older neighborhood, is bound to be filled with owners that are on the brink of retirement or have taken out equity. Both of those will add to the number of sales in there, but not in the numbers found in the newer villages.
 
I don't expect a major slide, but its coming, no matter what. Just as dirt cheap Corona homes will bring down the price of OC homes, cheaper Irvine homes will bring down the price of the last holdouts. If 2001 prices come to all of Irvine, and $500k homes are for sale on every corner, who would pay a 100% premium for these areas? Just my thought.
 
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