irvinehomeowner
Well-known member
I didn't thank this post for the content... I thanked it for the poster.irvinehomeshopper said:
Willow Bend (formerly Vista Verde) in University Park
- Thread starter irvinehomeowner
- Start date
NEW -> Contingent Buyer Assistance Program
I still think $900k is too high... with same sized Las Ventanas in the low $700s, if Mendocino opens in the mid $700s... you're looking at a $150k premium? C'mon... these aren't Quail Hill homes.
if you capitalize the mello roos payment to get an equivalent amount of principal it is close to 100K, so Las Ventanas would be in the low 800s vs 900K, so the difference is not as big as it sounds. I dont know what Mendocino mello roos is going to be.
Plans 2 in Cortona is probably the most comparable to these homes, and even those are bigger for about the same price...The more I think about new homes, it makes so much more sense just move down to south county...screw the "Live Where You Work" nonsense.
You should all leave her alone. She is from City of Tustin Redevelopment.
usctrojancpa
Well-known member
Do you also endorse WL's project in Woodbridge?irvinehomeshopper said:
thedude111222
New member
mid 900k home + around 100k in upgrades and landscaping puts you at mid 1M-1.1M....for that price I feel like you could get better like a JM Peters built home in Landings I or II in Woodbridge. Sure its a close to 30 year old house, but both tracts exhibit tremendous pride of ownership, show as well or better than most new neighborhoods, and are great neighborly streets. Plus you're gonna get a bigger house on a bigger lot. I'm sure you could also get something similar in Turtle Rock for not much more also.
irvinehomeowner
Well-known member
Plus... you can get a 3CWG for that price.thedude111222 said:
I still think $900k is too high... with same sized Las Ventanas in the low $700s, if Mendocino opens in the mid $700s... you're looking at a $150k premium? C'mon... these aren't Quail Hill homes.
qwerty
Well-known member
irvinehomeowner said:
if you capitalize the mello roos payment to get an equivalent amount of principal it is close to 100K, so Las Ventanas would be in the low 800s vs 900K, so the difference is not as big as it sounds. I dont know what Mendocino mello roos is going to be.
thedude111222
New member
Plus... you can get a 3CWG for that price.
[/quote]
I can't tell if you're serious of just being facetious... But the point is valid I guess. You referenced most new neighborhoods, and when you compare it like that, you're really talking 100-150K premium for not having to pay mello roos, when in reality, you're just paying that tax up front and you're standard property tax is about 1k more a year based on the higher purchase price (1.5% of 800k vs 1.05% of 950k is only a $2500 a year difference...so even if you had to pay mello roos for 60 years, it would still be cheaper than the premium for not having to pay it in the first place. Before the math geeks get on me, its not exactly accurate calcuations, but its a pretty good approximation). Either way you look at it though, its a high premium...either you pay too much for not having to make a mello roos payment, or you're buying less house just so it's new construction.
[/quote]
I can't tell if you're serious of just being facetious... But the point is valid I guess. You referenced most new neighborhoods, and when you compare it like that, you're really talking 100-150K premium for not having to pay mello roos, when in reality, you're just paying that tax up front and you're standard property tax is about 1k more a year based on the higher purchase price (1.5% of 800k vs 1.05% of 950k is only a $2500 a year difference...so even if you had to pay mello roos for 60 years, it would still be cheaper than the premium for not having to pay it in the first place. Before the math geeks get on me, its not exactly accurate calcuations, but its a pretty good approximation). Either way you look at it though, its a high premium...either you pay too much for not having to make a mello roos payment, or you're buying less house just so it's new construction.
irvinehomeowner
Well-known member
I don't plan to keep the home for 30 years so I'm not sure if capitalization works for me.
Additionally, to get down to a conforming limit, you have to put down more and... you get hit with a higher rate. Would you rather borrow at $625k ($770ish sales price with 20% down) or $725k ($905ish sales price with 20% down)?
Additionally, to get down to a conforming limit, you have to put down more and... you get hit with a higher rate. Would you rather borrow at $625k ($770ish sales price with 20% down) or $725k ($905ish sales price with 20% down)?
The Motor Court Company
Well-known member
Exactly my thought. Toscana is almost sold out and I could see Vista Verde become a revered /high demand neighborhood
irvinehomeshopper said:
thedude111222
New member
The Motor Court Company said:
Plans 2 in Cortona is probably the most comparable to these homes, and even those are bigger for about the same price...The more I think about new homes, it makes so much more sense just move down to south county...screw the "Live Where You Work" nonsense.
irvinehomeowner
Well-known member
Update:
Big mounds of dirt on site... looks like they are going to be pushing, leveling and grading. I still think $900k+ is ridiculous.
Big mounds of dirt on site... looks like they are going to be pushing, leveling and grading. I still think $900k+ is ridiculous.
thedude111222
New member
Two recent sales that I'd rather have than either new UP ow WB development
www.redfin.com/CA/Irvine/150-Treehouse-92603/home/5902165
http://www.redfin.com/CA/Irvine/30-Foxboro-92614/home/4697475
www.redfin.com/CA/Irvine/150-Treehouse-92603/home/5902165
http://www.redfin.com/CA/Irvine/30-Foxboro-92614/home/4697475
usctrojancpa
Well-known member
Maybe an ex employee now? hahaqwerty said:
irvinehomeowner
Well-known member
Ahh... that could explain it... formerly with WL, now with StanPac.USCTrojanCPA said:
The Motor Court Company
Well-known member
they need to advertise the API scores of the assigned schools
irvinehomeshopper
Well-known member
test said:
You should all leave her alone. She is from City of Tustin Redevelopment.