I am about sign the contract for a brandnew condo in Woodbury, Irvine next week. The detached house has 3 bedrooms, 2 and 1/2 baths for $535K with 20K incentives from builders. http://www.calpacifichomes.com/cortile.php

What you think of the deal?

 

Approximately 1,497 square feet

 

Actually mine only has 1275 square feet. Not to bad for me and my wife.
oh yeah, welcome to sunshine california where you pay 30% of money to the 70 degree all year round weather.

 

525k for 1500 sq ft. The flooring must 24k gold otherwise your getting violated.

 

Obviously you are not familiar with house price in california especially irvine.
Location, location, location. The same model was selling for 638K last year.
Due to mortgage crisis, it has dropped down to 535k. I plan to live in this house for at least 5 years so if the price go down a little, not a problem.

Here's an article about irvine: http://cbs2.com/local/FBI.Irvine.Safe.2.531976.html
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FBI Says Irvine Is America's Safest City
IRVINE, Calif. (CBS) ― Irvine is the safest city in America when measuring violent crime in cities with populations of more than 100,000, according to FBI statistics released Monday.

It is the third year in a row that Irvine was named the safest city in America, said Irvine police Lt. Rick Handfield.

Last month, Irvine was dubbed the safest in the state -- also the third year in a row -- based on statistics released by the California Attorney General's Office, Handfield said.

The city reported a 6 percent decrease in the number of overall crimes in 2006 as compared to 2005, and a 17 percent decrease in violent crimes in the same period, Handfield said.

Irvine in 2006 had four homicides, 17 rapes, 50 robberies and 55 aggravated assaults, he said. In 2005, there were two reported homicides, 17 rapes, 42 robberies and 90 aggravated assaults, he said.

Four other California cities made the top 10 safest cities in America list -- Sunnyvale is in fifth place; Thousand Oaks, seventh; Simi Valley, ninth; and Santa Clara 10th, according to the statistics.

Irvine is third in safety as far as property crimes are concerned, but Handfield said that in some cities, arson is not reported by police, but is part of fire department statistics, while Irvine reports arson as a property crime. Other property crimes include burglary, larceny and vehicle theft, Handfield said.

"Being recognized as the `Safest City in America' for the third year in a row is a source of great pride for the entire city of Irvine," said Irvine Mayor Beth Krom. "Our unwavering commitment to employ innovation, professional expertise and community partnership in addressing the public safety needs of the people who live, work, shop and play in Irvine has proven to be a very effective model."

 

if you can get it for 500k even go for it!

 

sounds a little high for the square footage but i'm also not familiar with irvine pricing.

we're opening escrow on a place in redondo beach on monday. 2 single family homes on one lot, about 1900 sq ft each home, $965k. it's not a new construction though.

i think my friend paid 600+ for her condo in anaheim, so at least your's is cheaper than that. not sure about her square footage though.

if you're not in a rush, more properties will come up later this year. but if you see a good value now, don't be afraid to go for it!

 

i LOVE that community. Go for it! Great location too, right near the Marketplace, and the Woodbury plaza. (I frequent Jalepeno's and Counter Burger :P)

Willing to rent out a room to me? jk

 

EVEN if you are in Irvine, that's still too much for that amount of square feet. Is it really important you buy a house this soon? I say wait until end of summer when the crisis levels out. Take advantage of them, dont let them take advantage of you.

oh, btw, would you like a 2nd opinion to see if you can get a better mortgage rate from a credit union? We are local to that area, pm me if interested.

 

That's a decent deal, actually.

But after all this mess with the mortgage industry, I'm surprised that they're aren't being sold closer to, if not just slightly lower than, $500k.

 

That still seems like a lot of $ per sq. ft.

 

The builder already lowered more than 100k compared to last year. They are in their final phrase with 2 homes left. I've been doing lots of house shopping. Most of the condos (attached) in irvines are going for 525K. This one is detach and brandnew with 20K incentive. House in Irvine will probably drop at most another 10% which is ok with me. I plan to keep the house for at least 10 years anyways. Finding a house that my wife and I like is really hard. We love this one.

 

You really expected a normal answer here? Of all places?? The deal isn't great, but it isn't bad either. We're about to ****** up a 3050ft^2 house in Quail Hill for a little over $1M...if you do the math, the price per square footage compared to the one you're interested in is pretty similar but this house is in foreclosure. Our 1800ft^2 3 bedroom 3 bath detached condo/house (also in QH) is roughly $3/4 M, which is more in line w/ QHs prices (Woodbury's being ever so slightly lower). Expect a continual drop in prices until the summer. After that who knows...

 

only 10% more drop?

 

Not a bad deal. And the time is right for buyers, especially if you are looking for a primary residence that you plan on keeping for several years.
I am not a fan of Irvine cops . . . other than that it is a great area.
Personally I work in Temecula, where you can get a 1500sq/ft HOUSE for under $200,000. But my condo in San Clemente, even after the fall, is still worth 3 houses in Temecula

But please tell me you are getting the one with a 2 car garage

 

Irvine is a fantastic place to be given that's it's more or less in the center of OC. That price seems reasonable to me given the location. When I was looking 2 years ago the chepeast thing around was in the low $500k's and it was a 30-year old Condo in a crappy area of Garden Grove.

 

Are you serious?? Last time I checked they were around 400k!!
I'll check my MRLS account!!

 

i am getting Residence 3 with 2 car garage. My condo is right across from Magnolia Park.

 

i've been shopping around Irvine area. There's no detached condo that's under 500K. If there is, it's pretty old. Most of the condo under 500k in irvine dont even have attached garage and patio and they are 3 stories which are not my type.

here's some more info about woodbury irvine.
http://www.villagesofirvine.com/VILL.../Woodbury.aspx

 

I work in the Woodbury plaza... It's really nice here but it's pretty far east in oc so it's pretty hot here in the summer