Would you buy in Corona while waiting?

NEW -> Contingent Buyer Assistance Program
[quote author="ipoplaya" date=1219407006][quote author="ConsiderAgain" date=1219388527]Lansner just posed a <a href="http://lansner.freedomblogging.com/2008/08/21/riversideoc-home-discount-at-9-year-high/">similar analysis</a> as I did. I think the comments there paralleled the ones here, after all who wants to live amongst an <a href="http://www.irvinehousingblog.com/forums/viewthread/2086/#65620"><em> Inbred turdpile</em></a>.



Nevertheless, the point Lansner made was the killer commute being the real trade-off to the financial discount of Riverside. I agree with the commute issues in my case. However, if I were to work in Brea or Anaslime instead of HB, I would more seriously consider this option, at least for a couple of years as the Irvine-area carnage unfolds.</blockquote>


Inbred turdpiles don't result in very good schools... Corona High is a 715 API. That score is just as close to Compton High's mark than it is to any of the Irvine schools. Working in HB, picking up a place after a few years in north HB or Fountain Valley would be a good call. If you have kids or will have kids, Fo Valley High and Edison are both decent high schools.</blockquote>


Like I mentioned before the cities I suggested are the best cities within your budget. Notice that I did not mention NB, CDM, Sunset and Seal Beach. Los Alamito, Fountain Valley and Cypress all have impressive school. Cypress has many electonic headquarters there such as Mishibishi, Yamaha, Panasonic, and Canon. Long Beach has character and night live just in case you do not have kids. Bellflower is by far is the better of the post war designed neighborhood (not great) but good value since it is closest to Cerrito. All these places have no mello roos and are kept up relatively well. Good Amenities such as services and retails are the indicators of a healthy city. Many have power centers, theatre, and Costco.



Having a Costco in the city is a very good thing because Costco studied the demographic and income of the city. The tax revenue generated by Costco the city has more revenue to improve the city's aesthetic and safety.
 
[quote author="bkshopr" date=1219449937]



Having a Costco in the city is a very good thing because Costco studied the demographic and income of the city. The tax revenue generated by Costco the city has more revenue to improve the city's aesthetic and safety.</blockquote>




Good point BK, the problem nowadays is retail overkill.

One Costco in town is not enough.

Not long ago there was tremendous pride associated with having Starbucks open a store in the area.

Same with driving SUVs, car dealers can't move them.

How quickly things change.
 
[quote author="tenmagnet" date=1219453562][quote author="bkshopr" date=1219449937]



Having a Costco in the city is a very good thing because Costco studied the demographic and income of the city. The tax revenue generated by Costco the city has more revenue to improve the city's aesthetic and safety.</blockquote>




Good point BK, the problem nowadays is retail overkill.

One Costco in town is not enough.

Not long ago there was tremendous pride associated with having Starbucks open a store in the area.

Same with driving SUVs, car dealers can't move them.

How quickly things change.</blockquote>


Ten, you are right for most retail. Actually Costco will wipe out all the retails along the strip adjacent to it. Costco is like a Pepper tree the poison release by its foliage kills weeds and grass directly below the canopy. Consumers on the average spent $180 per trip at a Costco so the buying remorse psychology right after Costco is not to spend any more money or find a really incredible bargain yet. This is why the $1.50 hot dog and drink or the $10 everything toppings on the pizza to feeding the entire family are there to offer a better deal back to the consumers so they don't feel so bad for spending so much money. It is bad or other retail tenants because consumers after a Costco run are often in a crappy spending remorse mode.



Most anchor tenants in a strip mall help to generate traffic to feed the smaller in filled retailers but Costco is the only exception. Retailer developers learned the hard way like the Costco in Fountain Valley and the Irvine Spectrum. The Costco adjacent retailers go out of business often. The Spectrum is managed by The Irvine Company and even Bren has a tough time in keeping the big box brick and mortar retail tenants alive. There has already been numerous turn over?s. FV is much worse. This is the reason why Costco is always in its separate structure far away from other retailers. Other retailers certainly do not want to share the same parking lot with Costco because frustrated customers could not find parking would rather shop somewhere else.



Most cities welcome a Costco because of the tax revenue generated. The Fountain Valley Costco was at the Macarthur Home Depot space in Santa Ana/ Costa Mesa border before FV lured it away to the current location just down the street on Euclid for a $1/year rent.



The FV Costco generated more taxes than South Coast Plaza, Fashion Island and Marketplace combined with hardly any police and security burden to the city. No wonder every city wants a Costco. Due to the White labeling philosophy of Costco demographic target are the upper middle class families so in choosing a home location Costco is a good indicator of who your future neighbors are.
 
BK,

Great post!

Thoroughly enjoyed reading your comments on Costco and their impact on the retail environment.

Understanding that they?d be a detriment to surrounding retailers was hard to grasp at first, but after you laid it out, made total sense.
 
BK -



The allelopathy simile is a good one for Costco, and one I'd not thought of in that way before. An excellent lesson.



Down a similar path - Why do you think Tustin's development has opted for essentially making a "Marketplace West" in its District offerings? They already have Target, Costco, Lowe's, and more less than a mile up the Jamboree corridor. Why would this make sense for any of the parties involved (landlords, tenants, consumers)? Your insight is appreciated.
 
[quote author="IrvineRealtor" date=1219590150]BK -



The allelopathy simile is a good one for Costco, and one I'd not thought of in that way before. An excellent lesson.



Down a similar path - Why do you think Tustin's development has opted for essentially making a "Marketplace West" in its District offerings? They already have Target, Costco, Lowe's, and more less than a mile up the Jamboree corridor. Why would this make sense for any of the parties involved (landlords, tenants, consumers)? Your insight is appreciated.</blockquote>


Starbucks at opposite and alternate diagonal street corners are good examples of traffic flow retails. As density exceeds the targeted quota retailers are not afraid of retail repetition. The older Costco in Tustin is the smallest of the Costco templates. It has been serving the mature communities and newer communities of New, Old and North Tustin, Santa Ana and Irvine. Shoppers shop there for daily essentials but Costco is interested in selling the big ticket items that the warehouse currently does not have room for. Typical speed per cashier is 42 transactions per hour while Tustin is doing 72 and could not handle additional traffic. The ticker counter person keeps track the shopper count in determining future store locations and distance in serving the upper middle class population.



As traffic becomes congested in the future the close proximity of stores will make sense just like a Rite Aid store in every city block of San Francisco. Repetition of retails is an alarm indicator of over population and anticipated future traffic congestion.
 
[quote author="momopi" date=1219714269]Is there an option to click on a button to zip up every post by BK for download?</blockquote>


I am flattered. My posts are usually lost in the mix of topics started by others. I have very few posts that I authored. Many others tried but it is hard to find every post. Good luck hunting. I wish I could write more but my time is very limited and it has taken away from my business and family time. I travel out of town quite frequently and spent 1/2 of my life on air bus.
 
I would rather eat shit sandwiches everyday for lunch than live in Corona and commute on the 91.



Seriously though, rent a place near both of your jobs. You will have the opportunity to get to know the area, traffic, social environment, etc and make a better purchase decision when it comes time to buy your "real" home.
 
I would rather eat shit sandwiches everyday for lunch than live in Corona and commute on the 91.



Seriously though, rent a place near both of your jobs. You will have the opportunity to get to know the area, traffic, social environment, etc and make a better purchase decision when it comes time to buy your ?real? home.



Thanks POITG, you saved me some doing some typing :cheese:
 
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