Avenue One 98% sold out?

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PeterUK_IHB

PeterUK_IHB

New member
Well, that's what they say <a href="http://www.khov.com/home/ca/11125mr1/_properties_auth.htm">here</a>

So they must be...right? ;-P
 
Hurry in May! Prices reduced! Buy now while you can!



Barf! Please, hurry? Why? Three went through foreclosure last month, and all for under $400k, so WTF would I want to pay more? Oh, and there are two more scheduled for next month too. 98% sold, 15% foreclosed. Awesome!
 
Avenue One has been on the market for 2 years now.

I think they have had a full page Sale ad on the Register like 7 times now.



So lets run out and spend almost $400K on 800 Sq Feet.

I cant get that drunk.
 
[quote author="bltserv" date=1211934801]Avenue One has been on the market for 2 years now.

I think they have had a full page Sale ad on the Register like 7 times now.



So lets run out and spend almost $400K on 800 Sq Feet.

I cant get that drunk.</blockquote>


I'm pretty sure that if a tall leggy blonde came with that drink... you might be persuaded... ha ha...



But yea, those prices are a bit pricey, they need to come down at LEAST 100/sqft...

good luck

-bix
 
[quote author="saloan" date=1212399442]thanks roo

its risky business buying right now, seems like the only people making moves are people from other countries that have currency that is stronger then the dollar. I just wish i could gage how bad its going to get and for how long it will last before it gets better. I am still doing my research i may just roll the dice and buy. i am just looking for advice an any thoughts on the area as well if some ones knows if avenue one is better or watermarke. My agent does nothing try to sell me stuff so she can get paid, i don't blame her but i can not trust her. its tough right now

thank you for your thoughts : )</blockquote>


just imagine.... parking your car in a structure and carrying your grocery about 500 yard to your front door. it gets real tired real fast............
 
saloan, watermarke is a converted apt bldg. ave1 was designed as condo living and has some advantages such as parking on each floor. depending on where your unit is located, you may not be lugging groceries that far. at least you dont have to deal with elevators.



there's been some previous discussions on watermarke and ave1 so you will find some good history of what's happened with the two complexes over the past 2 yrs.



having said all that, living in newport coast for 2000/mo vs living along jamboree for 3000/mo. hrm... why move?
 
<a href="http://www.redfin.com/CA/Irvine/3238-Watermarke-Pl-92710/home/12508800">Here's one at Watermarke</a> that was bought for $415K in '07 and is now going for $285K, it's Bank owned of course.
 
i like how the tax break is so often cited. do the math and find out whether the tax break is going to make up for increasing your housing expenses by 50%.

and if you KNOW the whole bldg is going to end up in short sale, why would you want to join in? *scratching head*
 
saloan, do not guess -- run the numbers and find out. only you know exactly how much you're able to put down (i.e. how much you'll borrow), what your tax bracket once your take the deductions, and also remember to include the $300+/mo HOA and a buffer for maintenance that you used to get from IAC.



but the short answer IMO invest your money elsewhere. don't even bother thinking about these condos for a yr or two. these are still incredibly WTF prices.



Unit # Scholarship Model / Approx Sq Ft Floor SOLD Price SOLD Date



2334 2A / 1037 3 $506,990 03/21/08

2142 1A / 725 1 $319,990 03/19/08

1352 2A / 1037 3 $425,000 03/14/08

2434 2AL / 1213 4 $506,990 03/05/08

1446 2BL / 1538 4 $525,000 02/27/08

2138 2A / 1037 1 $414,990 02/14/08

1312 3A / 1350 3 $485,000 02/02/08

1327 1A / 725 3 $280,591 01/29/08

1434 2AL / 1213 4 $445,042 01/25/08

1164 1B / 602 1 $323,990 01/10/08
 
[quote author="saloan" date=1212450852]NC is not the new Santa Anna PULEASE

</blockquote>


I was responding to:



[quote author="acpme" date=1212443884]having said all that, living in newport coast for 2000/mo vs living along jamboree for 3000/mo. hrm... why move?</blockquote>


A dime a month (50% premium) to live Irvine as opposed to NC only has two possible explanations.



1) Somebody (check that, a whole lot of somebodys) is (are) high as hell, from the cost accountant who came up with this idea, to the lender who financed it, and the donkey who bought it. All of it will be saleable at a lower price once the BK Broom sweeps clean, allowing it to move at market price OR



2) NC has gone to hell and everyone wants to get out ASAP.



So, if it's not number two, why would you want to join the "STONED BRO!" crew of #1 so you can go busto with the rest of them?
 
either run the numbers (include the tax break only if you figure out how itemizing will work v. the standard deduction), or just trust us when we say "wait".



personally, i predict that those places will sell for $100/sqft at the low point.
 
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