3-Car Garage Homes

NEW -> Contingent Buyer Assistance Program
Off topic but that West Irvine listing is so typical of Frank Agahi in that lot size is 1 sq ft.  I dont understand the benefit to not show the lot size.  He gets a fair amount of listings so I guess people who list with him dont seem to care about it but I just dont get it. 
 
irvinehomeowner said:
USCTrojanCPA said:
This closing won't help Westpark II with comps (don't blame me though).  ;)
http://www.redfin.com/CA/Irvine/9-Pompeii-92606/home/4629505
Click to expand...
Are you saying that's low or high?

I've seen some close a few close around this price over the last 3 or 4 years.
Click to expand...
Anything under $350/sf is on the low side (excluding short sales and REOs) especially when prices were around $400/sf even back in 2010.  Even the appraisal on this home came in at $880k and it was a standard sale.
 
I don't know if a 12% drop is really that low to me.

Like I said before, the uber-bears on the IHB said these WPII homes would be in the $700s by now... I don't think they'll ever get there.
 
irvinehomeowner said:
I don't know if a 12% drop is really that low to me.

Like I said before, the uber-bears on the IHB said these WPII homes would be in the $700s by now... I don't think they'll ever get there.
Click to expand...
Well, I think prices at the peak (2005/2006) for these homes were in the $425ish/sf so the drop is a bit closer to 20% ($400ish is from the tax credit sugar rush spike we got in 2010).  That being said, will prices of these homes come down to $7000?  Not unless something really bad happens in the economy.  Can we these homes trade at $800k in the next few years?  Sure, but I don't see them going much lower than that.  Honestly, I think the jumbo conforming loan decrease has caused some softening in prices in the $800k+ home market even in Irvine.  Even if u take out those marginal buyers, it will have an impact on prices. 
 
Plus these homes are selling at these discounted prices nominally. That's something that's understated a bit.
 
$425/sft was not the average price in 2005/2006 for WPII homes in the Vintage/Montage tracts... they were more around $400 during that time frame... I know because I was shopping that area at that time. There were at least 3-4 homes in mid 2005 that were listed for $375-405/sft (and probably closed lower)... and I looked at all of them.

I don't know how you are getting 20% off unless like Indie is saying, you are counting in an adjustment for inflation. And the uber-bears on the IHB were talking real pricing... not nominal ones. That's why Larry has backed off of his previous calls and even AZDave, who denied he made such a claim, backed off also when I provided the quoted proof that he was claiming REAL 1999 prices would return (real 1999 prices on these homes were like $420k?).

I'm sure IndieDev thinks these WPII homes are still overvalued even at $350/sf... or does he?
 
Westpark will be 30yr old by 2016. 80's tracts will fall into 2 categories: updated or hideously in need of repair. The life expectancy of the parts last about 30 years. I think the buyers by then should have an advantage in negotiation.
 
Westpark I will be 30... WPII was built in the mid to late 90s... they have 10 more years after 2016 before they fall apart (although StanPac is pretty good).
 
irvinehomeowner said:
$425/sft was not the average price in 2005/2006 for WPII homes in the Vintage/Montage tracts... they were more around $400 during that time frame... I know because I was shopping that area at that time. There were at least 3-4 homes in mid 2005 that were listed for $375-405/sft (and probably closed lower)... and I looked at all of them.

I don't know how you are getting 20% off unless like Indie is saying, you are counting in an adjustment for inflation. And the uber-bears on the IHB were talking real pricing... not nominal ones. That's why Larry has backed off of his previous calls and even AZDave, who denied he made such a claim, backed off also when I provided the quoted proof that he was claiming REAL 1999 prices would return (real 1999 prices on these homes were like $420k?).

I'm sure IndieDev thinks these WPII homes are still overvalued even at $350/sf... or does he?
Click to expand...
My bad, the average was actually around $418/sf in 2006 but many home closed above $425/sf in 2005 & 2006 including 65 Festivo, 19 Festivo , 32 Vetrina, and 20 Cirpriani (closed at $449/sf...YIKES!).  Heck, even 10 Pompeii closed for $426/sf in 2007.
 
When I read the Sq. ft of the homes, my thought was it was nice and roomy.  Looking at the inside pics of these homes makes me feel like I am in a smaller home.  All the rooms are compartmentalized and don't have vaulted ceilings.  I would think with that Sq. Ft, they could waste a little volume for some high ceilings.  Makes me happy I bought my early '90's home with cathedral ceilings. 

Woah, just realized Kirkland is next to the 261..
 
This one is in Tustin Ranch but seems like a decent location--not a 3CWG but still still 3.

P810767_0.jpg

$775,000
2470 BIXLER Ct
Tustin, CA 92782
BEDS: 4
BATHS: 2.75
SQ. FT.: 2,100
$/SQ. FT.: $369
LOT SIZE: 5,980 Sq. Ft.http://www.redfin.com/CA/Tustin/2470-Bixler-Ct-92782/home/4775464
 
its amazing how much builders have changed the volume of the houses.  at first glance, this looks bigger than the 3000sq ft houses in woodbury but its only 2100.  i love new elevations and great rooms but want the volume and feeling of space the 90s houses had.

i think i will check out the open house as well...always hate that you can never see a house at night but these guys get it. 
 
That's a long open house. I wonder if the agents will be rotating on this one, or is there an iron-willed agent willing to make this sale on pure sweat and grit.
 
I remember La Montana. This was $200k when brand new. The single car floater blocked the front of the home. The courtyard as I recalled behind it was only 10'. It is tight and totally forced.
 
IndieDev said:
That's a long open house. I wonder if the agents will be rotating on this one, or is there an iron-willed agent willing to make this sale on pure sweat and grit.
Click to expand...
Not sure who'd be strolling in 1am to 8am, but maybe they'll have music and alcoholic beverages to keep the party going.  haha  Fat finger realtor typo FTW!
 
You must log in or register to reply here.
Back
Top