A home doesn't sell in 50+ days and what happens (the story of 57 Gentry)???

NEW -> Contingent Buyer Assistance Program
My guess? They realized after commissions they were going to lose money, so they had to jack it up to cover the realtor.

 
Good luck with that new price, especially when there are quite a few short sales in WB.

Damn those pictures... this photographer needs to layoff on the sharpen filter, learn how properly set white balance, and take it easy on the HDR.  Some photogs need to learn that photoshop does not equal photography.


Lynn and Gina, I guess they moved off of RE/MAX.. anyone else remember "4 times the marketing power"
 
I guess all the magic 8's in the price did not entice any FCB cash.  In Irvine there is no other way to go than up! 
 
I didn't realize this seller bought the house in 2005. LOL, expecting appreciation on a house bought in 2005... that made my morning.
 
IndieDev said:
I didn't realize this seller bought the house in 2005. LOL, expecting appreciation on a house bought in 2005... that made my morning.
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They aren't underwater though, they dropped about $300k of a downpayment to buy in 2005 but took out a HELOC/2nd in 2007 to get some money back.  I'm wondering if it was a fat finger agent error where they meant to lower the price down to $1,029,000 and not $1,129,000.  The home is worth closer to around $1m +/- than it is $1.1m that's for sure.
 
USCTrojanCPA said:
IndieDev said:
I didn't realize this seller bought the house in 2005. LOL, expecting appreciation on a house bought in 2005... that made my morning.
Click to expand...
They aren't underwater though, they dropped about $300k of a downpayment to buy in 2005 but took out a HELOC/2nd in 2007 to get some money back.  I'm wondering if it was a fat finger agent error where they meant to lower the price down to $1,029,000 and not $1,129,000.  The home is worth closer to around $1m +/- than it is $1.1m that's for sure.
Click to expand...

Horrible time to be trying to offload their debt though onto another sucker. I feel they might make out better if they just held.
 
USCTrojanCPA said:
I'm wondering if it was a fat finger agent error where they meant to lower the price down to $1,029,000 and not $1,129,000.  The home is worth closer to around $1m +/- than it is $1.1m that's for sure.
Click to expand...

I doubt they fat fingered it.  They would have to manually enter the 129 instead of erasing the 88 to 29.  They probably saw the San Marino price list and felt "my home is better" and raised their prices. 
 
shokunin said:
USCTrojanCPA said:
I'm wondering if it was a fat finger agent error where they meant to lower the price down to $1,029,000 and not $1,129,000.  The home is worth closer to around $1m +/- than it is $1.1m that's for sure.
Click to expand...

I doubt they fat fingered it.  They would have to manually enter the 129 instead of erasing the 88 to 29.  They probably saw the San Marino price list and felt "my home is better" and raised their prices. 
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I can understand that perception.  When my old Irvine neighbor sold their house for a WTF price and it was not an upgraded house at all, it psychologically affected our pricing decision when we put our house up for sale a few months later. 
Regardless of our asking price, the market set our selling price.
 
eqly said:
Did anyone notice the lot size difference between this and its neighbor (smaller house)? 
http://www.redfin.com/CA/Irvine/55-Gentry-92620/home/5950631

How can two houses side by side with rectangular lots be off by 405 sf?  (Counted the sloped portion maybe?)  Maybe that is another reason they want to increase price differential.
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That Rosemoor Plan 2 is HORRID!  No way they get close to asking price.  I wonder if they talked to the 57 Gentry owner when they priced their home and vice versa.  haha
 
Heads up Lynn and Gina

mchoo said:
eqly said:
Did anyone notice the lot size difference between this and its neighbor (smaller house)? 
http://www.redfin.com/CA/Irvine/55-Gentry-92620/home/5950631

How can two houses side by side with rectangular lots be off by 405 sf?  (Counted the sloped portion maybe?)  Maybe that is another reason they want to increase price differential.
Click to expand...

according to the assessor's parcel maps, both lots are 50'x100'=5000 SF
Click to expand...
 
eqly said:
Heads up Lynn and Gina

mchoo said:
eqly said:
Did anyone notice the lot size difference between this and its neighbor (smaller house)? 
http://www.redfin.com/CA/Irvine/55-Gentry-92620/home/5950631

How can two houses side by side with rectangular lots be off by 405 sf?  (Counted the sloped portion maybe?)  Maybe that is another reason they want to increase price differential.
Click to expand...

according to the assessor's parcel maps, both lots are 50'x100'=5000 SF
Click to expand...
Click to expand...

Is this common?  I was looking at:
http://www.redfin.com/CA/Irvine/65-Essex-Ln-92620/home/4791612

and the listing says 4,000 SF lot, but based on the assessor's parcel map, the lot is only about 3,560 SF (odd shaped lot kind of like a trapezoid, but with a curve as one of the non-parallel legs).
 
mchoo said:
eqly said:
Heads up Lynn and Gina

mchoo said:
eqly said:
Did anyone notice the lot size difference between this and its neighbor (smaller house)? 
http://www.redfin.com/CA/Irvine/55-Gentry-92620/home/5950631

How can two houses side by side with rectangular lots be off by 405 sf?  (Counted the sloped portion maybe?)  Maybe that is another reason they want to increase price differential.
Click to expand...

according to the assessor's parcel maps, both lots are 50'x100'=5000 SF
Click to expand...
Click to expand...

Is this common?  I was looking at:
http://www.redfin.com/CA/Irvine/65-Essex-Ln-92620/home/4791612

and the listing says 4,000 SF lot, but based on the assessor's parcel map, the lot is only about 3,560 SF (odd shaped lot kind of like a trapezoid, but with a curve as one of the non-parallel legs).
Click to expand...

Realtors inflate the size of the house and lot all the time. Look at every Mike Dunn listing. The house size and lot size all end with zeros because he rounds up to the nearest hundred or thousand square feet. I've seen Mike Dunn listings with house and lot sizes inflated more than 25%. And it's not an honest mistake. He knows exactly what he's doing. For NW Pointe homes, he has the exact square footage for all the homes on his website. Yet, the house size for all of his home listings are significantly greater than the actual sizes listed on his website. Shady.
 
Even though a builder floor plan say the square footage is X, that does not make it so every time.

For example, a builder's condo development we were working on in the LA area has listed a SF of 2000 for one unit. Our appraisal had the SF at 1950 and BofA's appraiser had it come in at 1875. Our appraiser taped the unit and I'm guessing the BofA appraiser may have also. In either case the two appraisers came up with far less SF than what the builders floorplans listed.

The theory went that the builder's SF was from the studs, not from a finished unit, BofA's appraiser did not count the staircase in their square footage, but ours did. Some builders will count the optional room in a tandem garage in their SF however if you do not take that option and keep the tandem as a garage, you lose liveable space SF.

My .02c

Soylent Green is People.
 
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