lexguynj

We definitely see the slow down in both areas and the price reductions, so waiting is a good thing too, but we would like to pull the trigger soon and settle in since the kids are on the way.

You got to love being near the water in Newport Beach, but that in combination with the smaller lots, may not be a priority when raising a family.

lexguynj

He r4z0r3ck - thanks again for your input and good info.

lexguynj

Good point, since even less space in Newport than Irvine. However we are still looking for homes built recently.

Thanks again.

Cali_Girl

Sorry for the mix up. Another member PMed me so I thought it was from you. But, I'll send you some info. Check your PM.

Cali_Girl

We are all sold out in Shady Canyon and Newport Coast. In Irvine, we have quite a few in Woodbury (Irvine school district). You didn't mention Tustin, but we do have Village of Columbus. The PM I just sent you will explain more.

mole

iTrader: (3)

Living in socal is great and Newport is amazing with the views and all of the other amenities. Irvine does have some better values, but so does the nicer areas of Tustin. I would say that Tustin is over-priced right now, more so than the other areas. Newport will always have people with money who will spend it to live thier, so home value not as much of a concern. Irvine, a bit overpriced but with the reputation they enjoy, there will be homebuyers for years to come.

I work for a mortgage lender and assist with management of the appraisal department, so you know where I am coming from.

The comment about size of the yards in Irvine is right on when your looking at a bit older homes. There is also Mission Viejo and Lake Forest to consider, some very nice older homes some with large yards, but expect the values to be dropping in the coming year.

If you can afford it, stay in Newport, some of the new developments are amazing and in my opinion, the value of your home will be better protected for the coming years.

OutlawsX

All those areas cost a grip... must be like 900k+ to 1.5 million to live in that area now to buy a simple 4 bedroom house. I tried getting a home for about 750k in Irvine and the real Estate agent nearly pissed herself laughing to death... well not exactly, but I can tell she was very amused.

lexguynj

What's your opinon on Shady Canyon vs. Newport Coast in terms of resale? Shady Canyon is sort of the Newport Coast of Irvine at this time.

lexguynj

Thanks for the input Mole, I did not consider Tustin, the reasons I mentioned Irvine and Newport is that I have family in this area and also my work is in the Irvine area, so would like to take advantage of a good commute. So far the consensus including yours is for resale purposes Newport will perform better than Irvine.

lexguynj

OutlawsX, you're right it's astronomically high in price to live here, so it's like sticker shock when you move in from another state, but hey it's the price you pay to live in paradise :-)

lexguynj

Actually I am looking in that are, since my kid goes to pre-school in that vicinity and I drop her off and pick her up. Lot's of college & high school students. University High is supposed to be one of the top ranked High Schools in the entire country, which is why Irvine appeals to me.

lexguynj

Who are these crackheads that you are talking about? :-)

r4z0r3ck

so true but one thing you can bet on is it's a good investment. though real estate is declining, i bet in the future irvine/newport will still flourish due to demographics. rich people will not let their investment drop so theyll do a lot to the community to maintain its value. you ever wonder why the community fees are outrageous!? but my future home will probably be in dana point. just as nice as newport or laguna but cheaper!

Cali_Girl

Both are prime real restate here in Southern California.

Newport Coast is basically more pricey. Lately, there is more inventory than ever before. I am seeing price reductions as much as a few hundred thousand dollars. The reason being, rising interest rates (pretty much stable for now with slight decline) and a sudden influx of sellers putting their homes on the market. Some are investors who purchased homes over the past few years and are feeling the tight squeeze of rising interest rates from previous years. We are in a 'buyer's market". If you want deals, now is the time as many sellers are willing to negotiate. However, I can't promise you that price will not decline further over the next year(s). We are in a different cycle, and in real estate, there will always be cycles. I personally believe you will not do wrong with Newport Coast. There is a Pelican Hills Golf course, if you are into golf, which features two eighteen hole golf courses with coastline and Catalina views. Other amentities include parks, swim club, tennis, and of course, the beach. As far as resale value, you will can't go wrong with Newport Coast. If you can afford it, go for it.

Shady Canyon, on the other hand, is Irvine. Homes in Irvine is less pricey, but you can't beat the school district.....much better than Newport. The amenities offered at Shady Canyon include a private Shady Canyon Golf Club, which includes a luxury clubhouse, extensive trails, and a tennis and swim center. Homes are priced approximately from the high $1,000,000s with 3000 square feet of living space with select homes that are adjacent to the Shady Canyon Golf Club and/or permanent open space. You can find custom homes there as well. Builder, Laing Luxury has a wonderful collection of custom homes offered in Shady Canyon. There is a website devoted entirely to Shady Canyon. It is shadycanyon dot com and the Irvine Company is the master planner.

In terms of resale value of Newport Coast vs. Shady Canyon.....it would be more towards Newport Coast. Newport Coast is very attracted to rich people...and there are plenty in Southern Calif. Shady Canyon is for more family oriented people. Those seeking better school districts usually go for Irvine.

Both Newport Coast and Shady Canyon will have Mello Roos.

Hope this helps.