irvinehomeowner
Well-known member
So do appraisals use the foreclosure purchase as a comp? 
3-Car Garage Homes
- Thread starter irvinehomeowner
- Start date
NEW -> Contingent Buyer Assistance Program
When someone writes 'Equity Sale', I traditionally think of a owner occupied home purchased by someone years ago and has a home with a market value more than his/her mortgage. I guess in this case, the investors have no mortgage but have put in their own personal wealth on the line and are betting there is equity given recent comps.
they write equity sale or standard sale in their descriptions so that people know it will be fast and with no hold ups like short sales.
personally i think flippers are easiest to deal with it. its just numbers and no emotion for them. plus they are quick to respond unlike REOs
Location, location, location! LR is a beautifully designed community (especially compared with LA) and has new/well thought out floor plans, BUT.... we have seen countless posts about the downside to its location.
Eldorado is in Tustin but the schools are excellent, the location is superior IMO, and everything around the tract is in place. When PS is finished it might be be nice with the sports park, nearby Great Park, and local shopping center. But for now it is theoretical and you have several years of construction ahead. There is no guarantee master plans won't change.
Don't get me wrong--I do love the feel of NEW construction and fresh floor plans but l'd be willing to give up on those for a superior location. It all comes down to personal preference and what you value most.
I say go for this one instead..http://www.redfin.com/CA/Tustin/10595-Bruns-Dr-92782/home/4774356
Not bordering Jamboree nor Pioneer, but it does have a pool (could be good or bad). Just came back on market for $780k, has higher competition at
http://www.redfin.com/CA/Tustin/2615-Bristow-Ln-92782/home/4774374
which is at $800k but has a bigger lot
Most recent comp is
http://www.redfin.com/CA/Tustin/10545-Costello-Dr-92782/home/4774231
which listed at $789k, dropped to $769k, and sold on 1/23/12 for $720k (standard sale, former model home)
And it's not that I don't like Portola Springs (other than it has no amenities)... I like 3CWGs more.
iacrenter
Well-known member
rkp said:
When someone writes 'Equity Sale', I traditionally think of a owner occupied home purchased by someone years ago and has a home with a market value more than his/her mortgage. I guess in this case, the investors have no mortgage but have put in their own personal wealth on the line and are betting there is equity given recent comps.
usctrojancpa
Well-known member
Nope, only closed sales from MLS. Sales at trustee foreclosure auction do not represent a true market price for homes (not many people have that kind of cash and most homes are bought site unseen with no inspections).irvinehomeowner said:So do appraisals use the foreclosure purchase as a comp?
iacrenter said:
they write equity sale or standard sale in their descriptions so that people know it will be fast and with no hold ups like short sales.
personally i think flippers are easiest to deal with it. its just numbers and no emotion for them. plus they are quick to respond unlike REOs
what does it mean to fail an inspection? seems like all home inspections will turn up something. you have to decide how much its to fix and if its worth still taking the house.
i spent the 8+ hours with steve from biltrite during a home inspection and then looked for the same stuff he did in my apartment and founds tons of things that are wrong. way more in my parents and inlaws houses.
i spent the 8+ hours with steve from biltrite during a home inspection and then looked for the same stuff he did in my apartment and founds tons of things that are wrong. way more in my parents and inlaws houses.
Thermofoil
New member
Seems like prices are significantly going down for some 3 Car Garage homes, well, at least for this one:http://www.redfin.com/CA/Irvine/15-Urbino-92620/home/4788204
It stayed on the market for about 2 years. Dropping from almost 1 mil down to 830k.
The current price history on Redfin is not exhaustive. This house was listed first in the Fall of 2010, for 975k I believe.
It is indeed a beautiful home in a very decent neighborhood.
Finally some encouraging signs for bears.
It stayed on the market for about 2 years. Dropping from almost 1 mil down to 830k.
The current price history on Redfin is not exhaustive. This house was listed first in the Fall of 2010, for 975k I believe.
It is indeed a beautiful home in a very decent neighborhood.
Finally some encouraging signs for bears.
iacrenter
Well-known member
IHO this one is for you except for the price. Nice 3CWG home in Eldorado with the "O" type floor plan you like and backs to the Peters Canyon Trail. If it's still on the market after 30 days, put in your low ball offer 
http://www.redfin.com/CA/Tustin/10880-Phillips-St-92782/home/4775311
http://www.redfin.com/CA/Tustin/10880-Phillips-St-92782/home/4775311
Crispy3
New member
I was looking at this one as well.... Lambert Ranch plan 1 is about 900k + 100k upgrades it would be around 1M...
El Dorado Mello roos is around $100/Month + $195 HoA = $295 a month
LR has no Mello Roos (no 1915 bond?) and HoA = $300 a month
the extra 100k on LR means I can get better floor plans and everything new the way I like it.. why would I choose TR El Dorado over LR?
El Dorado Mello roos is around $100/Month + $195 HoA = $295 a month
LR has no Mello Roos (no 1915 bond?) and HoA = $300 a month
the extra 100k on LR means I can get better floor plans and everything new the way I like it.. why would I choose TR El Dorado over LR?
iacrenter
Well-known member
Crispy3 said:
Location, location, location! LR is a beautifully designed community (especially compared with LA) and has new/well thought out floor plans, BUT.... we have seen countless posts about the downside to its location.
Eldorado is in Tustin but the schools are excellent, the location is superior IMO, and everything around the tract is in place. When PS is finished it might be be nice with the sports park, nearby Great Park, and local shopping center. But for now it is theoretical and you have several years of construction ahead. There is no guarantee master plans won't change.
Don't get me wrong--I do love the feel of NEW construction and fresh floor plans but l'd be willing to give up on those for a superior location. It all comes down to personal preference and what you value most.
ps99472
New member
iacrenter said:IHO this one is for you except for the price. Nice 3CWG home in Eldorado with the "O" type floor plan you like and backs to the Peters Canyon Trail. If it's still on the market after 30 days, put in your low ball offer
http://www.redfin.com/CA/Tustin/10880-Phillips-St-92782/home/4775311
I say go for this one instead..http://www.redfin.com/CA/Tustin/10595-Bruns-Dr-92782/home/4774356
Not bordering Jamboree nor Pioneer, but it does have a pool (could be good or bad). Just came back on market for $780k, has higher competition at
http://www.redfin.com/CA/Tustin/2615-Bristow-Ln-92782/home/4774374
which is at $800k but has a bigger lot
Most recent comp is
http://www.redfin.com/CA/Tustin/10545-Costello-Dr-92782/home/4774231
which listed at $789k, dropped to $769k, and sold on 1/23/12 for $720k (standard sale, former model home)
irvinehomeowner
Well-known member
We've looked at Bristow because of the Costello comp... Bruns is interesting... but like Bristow and Costello... the 3br only floorplan is a downer... esp because the upstairs is very cramped for just having 3 bedrooms.
Also... laundry is garage pass thru... and no downstairs den/br (which is probably holding quite a few people back). The pool is nice... esp because only a few TR tracts have an HOA pool.
@crispy3: Despite the newness of Lambert Ranch... not a single floorplan in The Grove can compare to the 3CWG goodness of Tustin Ranch.
Also... laundry is garage pass thru... and no downstairs den/br (which is probably holding quite a few people back). The pool is nice... esp because only a few TR tracts have an HOA pool.
@crispy3: Despite the newness of Lambert Ranch... not a single floorplan in The Grove can compare to the 3CWG goodness of Tustin Ranch.
irvinehomeowner
Well-known member
Yup... USA USA USA!
It was close but I wasn't worried... way too much talent... 2nd unit probably could have won too.
It was close but I wasn't worried... way too much talent... 2nd unit probably could have won too.
Saw this today.http://www.redfin.com/CA/Irvine/16-Hidden-Crk-92620/home/4788873
Beautiful home. Really loved the layout. The only things we didn't like was the island cooktop and carpet in the upstairs bathrooms, everything else was perfect. Definitely overpriced, but shows pride of ownership.
Beautiful home. Really loved the layout. The only things we didn't like was the island cooktop and carpet in the upstairs bathrooms, everything else was perfect. Definitely overpriced, but shows pride of ownership.
usctrojancpa
Well-known member
IHO doesn't like Portola Springs very much.Crispy3 said:
irvinehomeowner
Well-known member
Sorry.... I meant The Field... I forget which ones are the "cheaper" ones.Crispy3 said:
And it's not that I don't like Portola Springs (other than it has no amenities)... I like 3CWGs more.