Woodbury East Opening July 11, 2009

NEW -> Contingent Buyer Assistance Program
[quote author="graphrix" date=1249226550][quote author="asianinvasian" date=1249222406][quote author="graphrix" date=1249220900]

And if you pay cash, a <a href="http://www.irs.gov/pub/irs-pdf/f8300.pdf">form 8300</a> will be filled out and sent to the IRS. So for those who want to avoid the scrutiny of the IRS because you cheat on your taxes and say you don't make crap for income, then don't be surprised when the IRS comes knocking shortly after you purchase a near $500k house.</blockquote>


Did you even bother to read the form before posting this nonsense? Because you must have missed this part.



<em>Cash does not include a check drawn on the payer?s own account, such as a personal check, regardless of the amount.</em>



Yes, it would be suspicious if someone paid $500k for a house in dollar bills.





[quote author="graphrix" date=1249220900]I only get cranky when people post misinformation. </blockquote>


The only one posting misinformation on this forum is you.</blockquote>


you really think form 8300 is the only one the IRS has?

</blockquote>


Give it a rest. Clearly you have never even written a check over $10k. Leave the cash related discussion to those that actually have cash and know what they are talking about. Stick to your doom and gloom predictions that have been wrong month after month after month.
 
[quote author="usctrojanman29" date=1249122155]

Oh really??? Well as long are there are cute 21-35 year old single Asian females as a part of that group, it's all good. ;)</blockquote>


The broadest selection of SAF's are overseas, not here. I'd suggest Philippines first (not the red light districts) and East Asia/CKJ (China-Korea-Japan/Taiwan/HK/etc) second. Avoid Thailand unless if you're Asian, most farangs end up with bar girls from Isan there.



Women in US and developed parts of East Asia don't like to marry at 18-25. Your chances are far better in Philippines. Stay away from Angeles City, bars, and webcam girls. Fairly easy to meet good Catholic girls there.
 
[quote author="irvine123" date=1249125062]I believe diversity keeps a city attractive to a larger pool of potential buyers, therefore retains its value better. I think one's concern on this issue as expressed on the call with Dan young was extremely valid. Bk might be able to share his view, but I don't know a single town / area retains its relatively high attractiveness after it gets turned into a largely homogeneous population in recent history: china town in new york, flushing in new york, Italian town in new york, Garden Grove here, WM here, etc.</blockquote>


Garden Grove and Westminster have more whites than Asians last of last demographic survey. Cities like Arcadia and Diamond Bar have more Asians than any other ethnicity, both have retained its value fairly well.



The Asian American demographic is extreme in terms of socioeconomic gap. I was at an OCA (Organization of Chinese Americans) sponsored event in Irvine yesterday and this was one of the topics discussed (will post more about the event later) by a Korean charity worker. Just as there are wealthy Asian cash buyers, there are also many very poor Asians.



This wealth gap becomes apparent in terms of city and school district where they reside. The wealthy ones could afford Arcadia -- Arcadia High School is 2/3rds Asian. The poorer ones can only afford El Monte. If the "attractiveness" of a city is dependent on the wealth of its residents, then I'd say that Asian-American populated cities simply work the same way. Just as cities inhabited by mostly poor Whites and Hispanics are less desirable, so are cities inhabited by poorer Asians.



update: OCA-OC event post here:

<a href="http://www.irvinehousingblog.com/forums/viewthread/5798/">http://www.irvinehousingblog.com/forums/viewthread/5798/</a>
 
[quote author="asianinvasian" date=1249252596]Give it a rest. Clearly you have never even written a check over $10k. Leave the cash related discussion to those that actually have cash and know what they are talking about. Stick to your doom and gloom predictions that have been wrong month after month after month.</blockquote>


Good job troll boy. Once again you 1. Can't prove me wrong. 2. Still never provide any stats to back up your baseless claims. 3. Try to put me down by saying I have been wrong month over month.



You sure are lazy for an Asian, that is if you really are, and you must not have gone to an Irvine school, because students from there have a lot more initiative than you do. Come on... go in the foreclosure thread and find things that I was wrong about... you know you want to... so what is stopping you?
 
[quote author="graphrix" date=1249220900]

I do have access to the statistics of the buyers and their names via a title company. Get in good with a title company, and you can too. Since we have a no name policy on IHB, I can't post those statistics without showing evidence (names) of said statistics, but I will tell you there are a lot more cash buying Shah's and Abdul's than there are Chen's and Yen's. If you do get access to this info, you will also see that the percentage of Asian and Persian/Arab buyers in Irvine has remained steady for years. There is not a greater presence of FCBers in 09 than there was in 06 or 02.



And if you pay cash, a <a href="http://www.irs.gov/pub/irs-pdf/f8300.pdf">form 8300</a> will be filled out and sent to the IRS. So for those who want to avoid the scrutiny of the IRS because you cheat on your taxes and say you don't make crap for income, then don't be surprised when the IRS comes knocking shortly after you purchase a near $500k house. This form was created in the 80s, when drug kingpins would pay cash for homes, and usually used it as a way to launder money. So also don't be surprised when you see some other government agents in your hood wondering how the hell you bought a house with cash.



Like Reason said in another thread, I may wear the crankypants (and proudly I might say), I only get cranky when people post misinformation. Usually I can post the data to back up my points but this time I can't for various reasons. However, I am not going to spew anecdotal evidence unlike some here, when I post... I post real information, and have been doing so since early 2007. My track record of being accurate is well documented here over the years.</blockquote>


Okay. you know without some statistics, it is your words against others and I think there is no reason to say that others are making up things and you are not. You can leave it up to others to decide to believe you.



The 8300 form is sure confusing to others that don't understand these forms. It does not apply to people that move money out of the bank, write checks or paid by credit cards. Yes, when we talk about cash buyers, we don't really mean they bring in 50,000 $100 dollar bills.



Even though I admit I don't have the statistics to back me up, my instinct is there are a lot more Asian buyers in Irvine lately than non-Asians. They are not all cash buyers, but they do have a good amount of down payment and solid credits to get loans.



Finally, I don't see why anyone get so upset and angry at things that is said at a forum. If so, how can you go through your normal daily life without going off? Please respect others, keep the French, symbols and name calling to ourselves and not in the public.
 
[quote author="graphrix" date=1249226550]Nice try "what is a put option" and "wanna be condo" expert. ... no more name changes troll boy.</blockquote>


Graph, are you trying to publicly embarrass the blogger with info gained as a mod? <img src="http://www.irvinehousingblog.com/images/smileys/blank.gif" alt="" />
 
[quote author="usctrojanman29" date=1249235854][quote author="roundcorners" date=1249180706]

Hey SC... your strategic Irvine housing plan should include hooking up with a 2nd gen Chinese girl by year end, proposing, engaged and married by next summer... earning the trust and respect of the 1st gen parents, and getting hooked up with the flow of FCB $$ for the down by 2011...</blockquote>
Excellent plan!!! Do you think having a CPA/MBA will help me earn the trust and respect of those 1st generation parents???</blockquote>


Fancy degrees and certs don't impress that much. Learning to eat offal(blood, tripe, and intestines) and the willingness to bust out some tunes on the KTV system her parents have set up in their living room, now that will earn you huge brownie points!!
 
[quote author="SoCal78" date=1249268369][quote author="graphrix" date=1249226550]Nice try "what is a put option" and "wanna be condo" expert. ... no more name changes troll boy.</blockquote>


Graph, are you trying to publicly embarrass the blogger with info gained as a mod? <img src="http://www.irvinehousingblog.com/images/smileys/blank.gif" alt="" /></blockquote>


He got ousted years ago, before people raised a stink about things like that. Dig around, acmpe started a thread with some of AI/JPMorganfunds' best of the best quotes. Pure genius I tell you, pure genius.
 
[quote author="Look4house" date=1249202671][quote author="reason" date=1249191332]

Very interesting. Back in 2005 when the RE market was fairly hot. William Lyon attached condo/townhomes only went up 3k per phase. And their '05 new condos/townhomes were much more spacious and the ceiling heights much higher.</blockquote>


If people are lining up to buy houses next to the trash dump, prices will be high. Strong demand is the primary driving force for the higher pricing.</blockquote>


Once Ivy is built out. With all those residents stuffed into a small parcel of land smaller than the Gaza Strip. It'll be a trash dump, alright.
 
[quote author="reason" date=1249301195][quote author="Look4house" date=1249202671][quote author="reason" date=1249191332]

Very interesting. Back in 2005 when the RE market was fairly hot. William Lyon attached condo/townhomes only went up 3k per phase. And their '05 new condos/townhomes were much more spacious and the ceiling heights much higher.</blockquote>


If people are lining up to buy houses next to the trash dump, prices will be high. Strong demand is the primary driving force for the higher pricing.</blockquote>


Once Ivy is built out. With all those residents stuffed into a small parcel of land smaller than the Gaza Strip. It'll be a trash dump, alright.</blockquote>
I wonder how they'll enjoy the amenity of the 133 noise? haha
 
[quote author="usctrojanman29" date=1249301552][quote author="reason" date=1249301195][quote author="Look4house" date=1249202671][quote author="reason" date=1249191332]

Very interesting. Back in 2005 when the RE market was fairly hot. William Lyon attached condo/townhomes only went up 3k per phase. And their '05 new condos/townhomes were much more spacious and the ceiling heights much higher.</blockquote>


If people are lining up to buy houses next to the trash dump, prices will be high. Strong demand is the primary driving force for the higher pricing.</blockquote>


Once Ivy is built out. With all those residents stuffed into a small parcel of land smaller than the Gaza Strip. It'll be a trash dump, alright.</blockquote>
I wonder how they'll enjoy the amenity of the 133 noise? haha</blockquote>


Prime location and premium prices, baby! That's what you get.
 
And what the hell is that huge looking flying saucer next to Woodbury East? Is that a water tank? That's right. Prime location. Yep.
 
[quote author="reason" date=1249302740]I think I'd better stop.</blockquote>
I'm kind of curious how much denser the housing will at the Gaza Strip...errr East Woodbury...compared to Woodbury (this is prompting for a response from BK)?
 
I went to check out the models at Ivy today, looked at plan C (1500 sq ft), was not impressed at all, i personally would not pay the 444K they were asking (even if it wasnt sold out). Woodbury East doesnt even feel like a real community (i know its not built out yet), but i get the feeling that they had this small piece of land and they just didnt know quite what to do with it, and they came up with this POS "community" called Woodbury East. I think woodbury is a very nice place (used to rent at woodbury place before), but WE i dont think will even come close to the the original.
 
444K is a response to show no racial preference for Ivy. The plans were developed violating every feng shui principle and so is the price. However majority of the buyers have been Chinese.
 
[quote author="bkshopr" date=1249309791]444K is a response to show no racial preference for Ivy. The plans were developed violating every feng shui principle and so is the price. However majority of the buyers have been Chinese.</blockquote>
So the conclusion is that feng shui is overrated when it comes to buying in Irvine?
 
[quote author="usctrojanman29" date=1249311691][quote author="bkshopr" date=1249309791]444K is a response to show no racial preference for Ivy. The plans were developed violating every feng shui principle and so is the price. However majority of the buyers have been Chinese.</blockquote>
So the conclusion is that feng shui is overrated when it comes to buying in Irvine?</blockquote>


I think TIC has a good sense of humor to tell BK that he is full of sh.t about the feng shui crap and even with the deliberate 444 Chinese still flock to inject poison IVY into their blood stream.
 
[quote author="asianinvasian" date=1249222406][quote author="graphrix" date=1249220900]

And if you pay cash, a <a href="http://www.irs.gov/pub/irs-pdf/f8300.pdf">form 8300</a> will be filled out and sent to the IRS. So for those who want to avoid the scrutiny of the IRS because you cheat on your taxes and say you don't make crap for income, then don't be surprised when the IRS comes knocking shortly after you purchase a near $500k house.</blockquote>


Did you even bother to read the form before posting this nonsense? Because you must have missed this part.



<em>Cash does not include a check drawn on the payer?s own account, such as a personal check, regardless of the amount.</em>



Yes, it would be suspicious if someone paid $500k for a house in dollar bills.





[quote author="graphrix" date=1249220900]I only get cranky when people post misinformation. </blockquote>


The only one posting misinformation on this forum is you.</blockquote>


I offered to bet you any amount up to $10K that Graph was right, and you didn't accept.



You might not be a troll, but you certainly are a chicken.
 
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