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Old 05-22-2010, 12:50 PM
 
1,976 posts, read 6,860,686 times
Reputation: 2559

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Quote:
Originally Posted by masalamomma View Post
Not interested in Oak Creek, if we ever buy, it will be in Turtle Rock. But to be honest, unless we win the lottery and literally have money to burn, I doubt we ever buy. Likely we will just rent till the kids finish high school, and then buy somewhere outside of Irvine, like Laguna Niguel or something.

Nothing wrong with renting if you get to live in the place you love at half the cost to own.
We moved out of Laguna Niguel recently, but the schools were fine, and my wife is in education and she is picky, but still happy with the schools. There is much more to school than getting straight A's. I think in some schools a perfectly smart kid will get inferiority complex for not having college level physics/maths skills.

In Saddleback and Capistrano districts, if your kids are interested they could enroll in gates and similar programs. So the opportunities are there.
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Old 05-22-2010, 12:54 PM
 
Location: Irvine - Orange County, CA
214 posts, read 650,394 times
Reputation: 72
Quote:
Originally Posted by GoldenZephyr View Post
Many Chinese and Asian cultures in general, have an unusual belief in RE, this is most true in China where people are still paying a lifetimes of income for an apartment in Shanghai, with multiples far above anything experienced in the US. Look at Japan, prices have been declining for 20 years and have only recently begun to bottom out, 20 years!!. Japan had the same ridiculous multiples as China, yet in the end gravity won.

Prices have likely hit their zenith for a generation or more and will be unlikely to go higher in inflation adjusted terms for the foreseeable future. That being said, trying to beat an irrational market can be difficult. Give it time, the RE myth will end.

Agree about renting at half the cost, be happy where you live.
Or you can do what several of my other buyers did...given up on Irvine and bought a home in one of the surrounding cities. One of my buyers bought a gorgeous 3,000sf home in Laguna Niguel with no Mello Roos for $270/sf and another one who bought an 1,800sf home in Aliso Viejo for $285/sf. I have a few other buyers who I'm working with that are looking for a home in Yorba Linda, Anaheim Hills, and Serrano Heights (Orange) where priced are around $250/sf. All these locations have good schools and are safe but they don't have that allure to many Chinese and Korean cash buyers hence the prices being $100-$150/sf cheaper.
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Old 05-22-2010, 02:19 PM
 
Location: Beautiful California
253 posts, read 1,131,228 times
Reputation: 194
The Irvine Housing blog has interesting info regarding homes for potential buyers:

Irvine Housing Blog - Irvine Real Estate and Irvine Homes

~Cali-girl
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Old 05-22-2010, 04:05 PM
 
Location: Irvine - Orange County, CA
214 posts, read 650,394 times
Reputation: 72
Quote:
Originally Posted by Cali-girl View Post
The Irvine Housing blog has interesting info regarding homes for potential buyers:

Irvine Housing Blog - Irvine Real Estate and Irvine Homes

~Cali-girl
Those are profiled properties by the site owner (IrvineRenter). It's a shame that he shut down the forum section as I used to be a regular on that forum. Thank goodness one of the other members created a similar forum for folks like me.

Talk Irvine - Index
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