Where in the Irvine Ranch was this photo was taken? #7

NEW -> Contingent Buyer Assistance Program
No. keep trying. Here is a clue: the homes in this tract is worth 1/6 the price of the adjacent tract. Here is a sample calculation. If the adjacent tract is $900,000 then these homes are worth $150,000.
 
bk's low value descriptions sounds like that area east of IVC... but I forget the name and the aren't as big as the ones in the picture.



This could be near Walnut Village or GreenTree but I can't remember any paseo-style homes over there.
 
The senior members have been lecturing on home value and the biggest asset of the home is not in the physical structure but on the land residual. This is a test to see if all of you have been learning and applying the wisdom of Real Estates. IR1 can not participate on this one. Go back to IHB course 101 and study the notes.



I also posted this tract in a novel description a long time ago but good luck digging into 3,000 posts to find it.
 
[quote author="bkshopr" date=1249604968]The senior members have been lecturing on home value and the biggest asset of the home is not in the physical structure but on the land residual. This is a test to see if all of you have been learning and applying the wisdom of Real Estates. IR1 can not participate on this one. Go back to IHB course 101 and study the notes.



I also posted this tract in a novel description a long time ago but good luck digging into 3,000 posts to find it.</blockquote>


The Ranch, adjacent to Oak Creek. After that, I'm out of guesses.
 
[quote author="bkshopr" date=1249604543]No. keep trying. Here is a clue: the homes in this tract is worth 1/6 the price of the adjacent tract. Here is a sample calculation. If the adjacent tract is $900,000 then these homes are worth $150,000.</blockquote>


Groves Mobile Home park?
 
The only way to lower home value is to raise density but does this look like a density driven solution to leaving a 48' wide paseo. The greedy builder's bag O Chip solution also falls apart here when some homes are clearly a single story. Shouldn't that hint you on the age of this tract is pre greedy developer era and the bean counters has not learned to squeeze every drop out of the land.



BTW, Rule #1 for developer is never to donate land without getting something else in return. The neighborhood parks, recreation park and tot lots are mandatory by the City of Irvine. City forced the developers to provide them based on the number of units being built. The higher the unit counts the larger the park or a series of smaller park that satisfy the total sum. The credit should go to the Irvine city planners and not BK's daughter holding the last piece of the puzzles.
 
[quote author="Cameray" date=1249609153]Are the houses on lease land?</blockquote>


I think we have a new comer here that beat out all the pros. The earliest projects on the Irvine Ranch were built on leased land.
 
You are too persistent. You will find it. You have already solved the biggest clue. By eliminating the mediterranean palette of production neighborhoods you can narrow your range by process of elimination. Unlike the old timers you are relatively new on this forum but you are already ahead of the many napping hares. You know quite a bit of Irvine for not being an Irvine resident. Your research skill could easily present yourself like an Irvine pro. This neighborhood is not easy to find being an Irvine Ranch outsider.
 
[quote author="bkshopr" date=1249612642]You are too persistent. You will find it. You have already solved the biggest clue. By eliminating the mediterranean palette of production neighborhoods you can narrow your range by process of elimination. Unlike the old timers you are relatively new on this forum but you are already ahead of the many napping hares. You know quite a bit of Irvine for not being an Irvine resident. Your research skill could easily present yourself like an Irvine pro. This neighborhood is not easy to find being an Irvine Ranch outsider.</blockquote>


We use to live in Irvine but now rent in LN.
 
[quote author="bkshopr" date=1249612710][quote author="Cameray" date=1249612640]Is it in CDM?</blockquote>


CDM is very pricey.</blockquote>


Yes it is very pricey. I had no idea that Cameo Shores was built on lease land owned by the Irvine Company.
 
How about University Park area??--Specifically the neighborhood near Michelson Dr & Jordan Ave. The Google satellite images of the clustered duplex homes with a large central park and paseo fit the bill. The close proximity to the 405 would certainly lower property values in the area and it's close enough to Turtle Rock for high contrast of property values.



<a href="http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode;=&q=Michelson+Dr+&+Jordan+Ave+Irvine,+ca&sll=33.661184,-117.803564&sspn=0.003983,0.006899&ie=UTF8&ll=33.661978,-117.80483&spn=0.007965,0.013797&t=h&z=16&iwloc=A">http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode;=&q=Michelson+Dr+&+Jordan+Ave+Irvine,+ca&sll=33.661184,-117.803564&sspn=0.003983,0.006899&ie=UTF8&ll=33.661978,-117.80483&spn=0.007965,0.013797&t=h&z=16&iwloc=A</a>
 
[quote author="Mcdonna1980" date=1249624383]Is this within the city boundaries or the ranch boundaries?</blockquote>


Ranch boundary. Interior of the home. Lease is about $27,000/yr inaddition to a regular mortgage.
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<legend> Attached files </legend> <a href="http://www.talkirvine.com/converted_files/images/forum_attachments/381_C1bt9PgHypU6DjsBbkr4.jpg"><img src="http://www.talkirvine.com/converted_files/images/forum_attachments/381_C1bt9PgHypU6DjsBbkr4.jpg" class="gc-images" title="Ranch interior.jpg" style="max-width:300px" /></a> </fieldset>
 
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