freedomCM_IHB
New member
does that "cost of owning a home relative to renting" also include the loss of the downpayment as the prices decline another 10-30% this year?
Without buyers, Tustin condos will be leased
- Thread starter halfnote19_IHB
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NEW -> Contingent Buyer Assistance Program
trrenter_IHB
New member
These places are in a horrible location. Unless you like to be sandwiched in between a highschool and a Uhaul location.
The view out of the front door of the ones on El Camino is Starbucks, Subway and the actual freeway.
I can't imagine getting in and out of there in the morning with the insane highschool trafic. I can't imagine much worse of a location.
They shouldn't rent for more then 1400 per month.
The view out of the front door of the ones on El Camino is Starbucks, Subway and the actual freeway.
I can't imagine getting in and out of there in the morning with the insane highschool trafic. I can't imagine much worse of a location.
They shouldn't rent for more then 1400 per month.
asianinvasian_IHB
New member
Looks like these places are renting for $2,400 for the 3 bedroom and $2,800 for the larger 3 bedroom + loft. You may commence your rental parity calculations, I'll be keeping score.
No_Such_Reality_IHB
New member
How many are rented?
graphrix_IHB
New member
[quote author="No_Such_Reality" date=1238574496]How many are rented?</blockquote>
Four units. Long way to go.
Four units. Long way to go.
usctrojanman29_IHB
New member
[quote author="asianinvasian" date=1238574273]Looks like these places are renting for $2,400 for the 3 bedroom and $2,800 for the larger 3 bedroom + loft. You may commence your rental parity calculations, I'll be keeping score.</blockquote>
How large are the units?
How large are the units?
25inIrvine_IHB
New member
<a href="http://tustin-california.olx.com/1361-el-camino-real-216-tustin-cottages-iid-23673279">http://tustin-california.olx.com/1361-el-camino-real-216-tustin-cottages-iid-23673279</a>
Option 1
Price: $2400.00
Bedrooms: 3
Bathrooms: 2
Squarefeet: 1582
Option 2
Price: $2500.00
Bedrooms: 4
Bathrooms: 3
Squarefeet: 1582
Option 3
Price: $2575.00
Bedrooms: 3
Bathrooms: 2
Squarefeet: 1691
Option 4
Price: $2600.00
Bedrooms: 3
Bathrooms: 2
Squarefeet: 1715
Option 5
Price: $2800.00
Bedrooms: 3
Bathrooms: 3
Squarefeet: 2042
Option 1
Price: $2400.00
Bedrooms: 3
Bathrooms: 2
Squarefeet: 1582
Option 2
Price: $2500.00
Bedrooms: 4
Bathrooms: 3
Squarefeet: 1582
Option 3
Price: $2575.00
Bedrooms: 3
Bathrooms: 2
Squarefeet: 1691
Option 4
Price: $2600.00
Bedrooms: 3
Bathrooms: 2
Squarefeet: 1715
Option 5
Price: $2800.00
Bedrooms: 3
Bathrooms: 3
Squarefeet: 2042
irvine_grad_IHB
New member
I know of a couple people renting here and they do not pay the quoted rental rates. They were able to negotiate down about 10%.
I visited the other day and I can see why people would not buy-it's a really funky floorplan. It goes something like this: Garage -> Stairs -> Living Room -> Stairs -> Dining Room/Kitchen -> Stairs -> 3bedrooms on the top floor. The master bedroom is probably 2x-3x the size of the two smaller bedrooms. One thing I do like, though, is the high ceilings and the open wall between the kitchen/living room. It makes the place seem larger than it is. Don't be deceived by the listed sqft. You have much less usable floorspace due to all the wasted areas (stairs).
The location is also not ideal. Traffic didn't seem too bad but the whole complex felt like it was shoe-horned into a tiny plot of land-this is probably the reason for the weird floorplan. They only guarantee two parking spots for each home and, from the looks of it, there is not enough parking to accommodate all units. Right now it's not a problem, but when there is >10% occupancy, it will be.
The build quality of the homes are OK-I can't comment b/c I'm not an expert on this stuff. One thing that bothered this group was that it did not look anything like the model home. I'm not sure if they made this explicit through the tour, but the model home has many nice additions (granite countertops, etc) and their leased home does not.
I visited the other day and I can see why people would not buy-it's a really funky floorplan. It goes something like this: Garage -> Stairs -> Living Room -> Stairs -> Dining Room/Kitchen -> Stairs -> 3bedrooms on the top floor. The master bedroom is probably 2x-3x the size of the two smaller bedrooms. One thing I do like, though, is the high ceilings and the open wall between the kitchen/living room. It makes the place seem larger than it is. Don't be deceived by the listed sqft. You have much less usable floorspace due to all the wasted areas (stairs).
The location is also not ideal. Traffic didn't seem too bad but the whole complex felt like it was shoe-horned into a tiny plot of land-this is probably the reason for the weird floorplan. They only guarantee two parking spots for each home and, from the looks of it, there is not enough parking to accommodate all units. Right now it's not a problem, but when there is >10% occupancy, it will be.
The build quality of the homes are OK-I can't comment b/c I'm not an expert on this stuff. One thing that bothered this group was that it did not look anything like the model home. I'm not sure if they made this explicit through the tour, but the model home has many nice additions (granite countertops, etc) and their leased home does not.
xoneinax_IHB
New member
[quote author="trrenter" date=1235713343]Unless you like to be sandwiched in between a highschool and a Uhaul location</blockquote>Its only a 2 minute walk to pick up a day laborer at UHaul
Geotpf_IHB
New member
[quote author="graphrix" date=1238575268][quote author="No_Such_Reality" date=1238574496]How many are rented?</blockquote>
Four units. Long way to go.</blockquote>
Article says seven. Still a long way to go.
Four units. Long way to go.</blockquote>
Article says seven. Still a long way to go.
Geotpf_IHB
New member
[quote author="irvine_grad" date=1238627374]I know of a couple people renting here and they do not pay the quoted rental rates. They were able to negotiate down about 10%.
I visited the other day and I can see why people would not buy-it's a really funky floorplan. It goes something like this: Garage -> Stairs -> Living Room -> Stairs -> Dining Room/Kitchen -> Stairs -> 3bedrooms on the top floor. The master bedroom is probably 2x-3x the size of the two smaller bedrooms. One thing I do like, though, is the high ceilings and the open wall between the kitchen/living room. It makes the place seem larger than it is. Don't be deceived by the listed sqft. You have much less usable floorspace due to all the wasted areas (stairs).
The location is also not ideal. Traffic didn't seem too bad but the whole complex felt like it was shoe-horned into a tiny plot of land-this is probably the reason for the weird floorplan. They only guarantee two parking spots for each home and, from the looks of it, there is not enough parking to accommodate all units. Right now it's not a problem, but when there is >10% occupancy, it will be.
The build quality of the homes are OK-I can't comment b/c I'm not an expert on this stuff. One thing that bothered this group was that it did not look anything like the model home. I'm not sure if they made this explicit through the tour, but the model home has many nice additions (granite countertops, etc) and their leased home does not.</blockquote>
So it's basically a four story? What a disaster. At least you don't need to use the stairmaster at the gym with all that real-life stair climbing.
I visited the other day and I can see why people would not buy-it's a really funky floorplan. It goes something like this: Garage -> Stairs -> Living Room -> Stairs -> Dining Room/Kitchen -> Stairs -> 3bedrooms on the top floor. The master bedroom is probably 2x-3x the size of the two smaller bedrooms. One thing I do like, though, is the high ceilings and the open wall between the kitchen/living room. It makes the place seem larger than it is. Don't be deceived by the listed sqft. You have much less usable floorspace due to all the wasted areas (stairs).
The location is also not ideal. Traffic didn't seem too bad but the whole complex felt like it was shoe-horned into a tiny plot of land-this is probably the reason for the weird floorplan. They only guarantee two parking spots for each home and, from the looks of it, there is not enough parking to accommodate all units. Right now it's not a problem, but when there is >10% occupancy, it will be.
The build quality of the homes are OK-I can't comment b/c I'm not an expert on this stuff. One thing that bothered this group was that it did not look anything like the model home. I'm not sure if they made this explicit through the tour, but the model home has many nice additions (granite countertops, etc) and their leased home does not.</blockquote>
So it's basically a four story? What a disaster. At least you don't need to use the stairmaster at the gym with all that real-life stair climbing.