Orange County

[Goran_K]

TrabucoDom wrote:

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BobPhillips-RE wrote:

One difference would appear to be that YOUR chart seems to be referring to available listings, perhaps over a certain time period, while my post was refering to closed Coto only escrows, so far this year, vs. the exact same period of last year.

So, perhaps we're talking apples vs. oranges, in which case, what's your point?

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The point is whether or not you include small portions of RSM, Coto sales have fallen off a cliff recently.

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I'm actually able to afford to live in Coto now days. This is great news.

[BobPhillips-RE]

"I'm actually able to afford to live in Coto now days."

For buyers who might have been considering Irvine or Ladera, Coto is considerably more affordable.

Bigger houses and bigger lots, for less money.

[LoansbyJW]

Goran moving behind the gates? There goes the neighborhood.

Thanks for reading,

[Goran_K]

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LoansbyJW wrote:

Goran moving behind the gates? There goes the neighborhood.

Thanks for reading,

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I'm going to be best buddies with Bob, we'll have joint BBQs, enjoy the evening breeze, and throw kick butt 4th of July keggers. Once I find a house, I honestly am never going to write about overpriced real estate again.

[Goran_K]

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BobPhillips-RE wrote:

"I'm actually able to afford to live in Coto now days."

For buyers who might have been considering Irvine or Ladera, Coto is considerably more affordable.

Bigger houses and bigger lots, for less money.

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Bob, serious question. 

I noticed Ladera prices have come down dramatically in the past 2 years because of all the short sales/REOs/etc. Why would I buy in Coto over Ladera? Seems like they both have excellent schools, and low crime.

Other questions:
- Which community has more hip things to do? I don't want to spend all my time in my house. I sometimes like to go out and mingle.

- How would either community compare to Irvine (where I am now)?

[BobPhillips-RE]

Goran_K asked: "I noticed Ladera prices have come down dramatically in the past 2 years because of all the short sales/REOs/etc. Why would I buy in Coto over Ladera? Seems like they both have excellent schools, and low crime."

Frankly, the choice between Coto and Ladera usually hinges on a few different factors.  First is kids.  If you have kids, a LOT of people consider Ladera more kid friendly. ( I don't, but lots of people do.)  Second, is the price range you'll be in.  Ladera has more properties in lower price ranges.  Average list price of the 147 listings presently available in Ladera = $707,991, while, as of a day or two ago, Coto had 118 listings averaging $1,672,325. 

A third factor is whether you want to be within a gated community.  Ladera has a relatively small area that is gated, with HOA fees approaching $400.  Coto is entirely gated, with HOA fees as low as $90.  While Coto does not have included recreational facilities, you can join the one of the two clubs on a family social membership, with total fees no higher than Ladera's gated area fees.

There are a LOT of other differences, but they mostly depend on the price range you'll be looking in, and the size and type of house that will suit your family.

Other questions:   "Which community has more hip things to do? I don't want to spend all my time in my house. I sometimes like to go out and mingle." 

If you're talking about night life or restaurants, the only night life IN Coto is at one of the two private clubs.  Of course Coto is surrounded by RSM, and spills into Mission Viejo and beyond.  Ladera has more restaurants and night spots within the community, and is slightly closer to the beach areas.  Frankly, some Coto people go to Ladera for food & fun.  Whether that's hip, or quite what you're looking for, depends on how far you'll go for such fun.  I imagine Irvine beats both Coto and Ladera, in terms of being in the middle of exciting things to do.

- How would either community compare to Irvine (where I am now)?

Like I said earlier, Irvine's schools are considered among the best in the O.C..  For a house, in Coto you will probably get more house, on more land, than either other community.

That's my synopsis, in a nutshell.  I hope it's been helpful.

[Goran_K]

I'm honestly going to check out Coto in the next month. If I can't find anything in West LA, I think I will probably settle down in OC.

[Cadenza]

West LA.... to .... anywhere in South County except for Laguna and Irvine.

That's a culture shock! 

[cdcrezz]

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Goran_K wrote:

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BobPhillips-RE wrote:

"I'm actually able to afford to live in Coto now days."

For buyers who might have been considering Irvine or Ladera, Coto is considerably more affordable.

Bigger houses and bigger lots, for less money.

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Bob, serious question. 

I noticed Ladera prices have come down dramatically in the past 2 years because of all the short sales/REOs/etc. Why would I buy in Coto over Ladera? Seems like they both have excellent schools, and low crime.

Other questions:
- Which community has more hip things to do? I don't want to spend all my time in my house. I sometimes like to go out and mingle.

- How would either community compare to Irvine (where I am now)?

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Goran - your question was person specific, but I will chime in with my less than two cents worth.

Personally, I think you get more for your money in Coto than Ladera.  Generally speaking, the lots are larger, the housing is less densified, and the property taxes are less.  There are less children per household in Coto than Ladera, but in certain neighborhoods there are lots of children.  Percentage wise Ladera has decreased in price more than Coto, but that is because of the number of subprime borrowers that were the first to default and the recentness of the purchaseses, (2005-2006), that contributed to the larger percentage of distressed sales.  Don't let anybody fool you though, Coto has plenty of defaulting mortgages and plenty of distressed sales and the number of defaulting mortages is fairly steady.  Distressed sales will continue to influence the Coto market and prices will continue to fall.

Personally, I prefer the peacefulness of Coto and unless you back up to one of the busier streets, it is extrememly quiet.  Also, I think Coto is pretttier and more serene than Ladera.

[Goran_K]

Thanks guys for the friendly, fruitful, discussion.