Costa Mesa

NEW -> Contingent Buyer Assistance Program
[quote author="freedomCM" date=1219727206]that little enclave is a bit too close to the 405 for my tastes, though the houses themselves are nice. but it is an enclave. you have to go down harbor to hit groceries (henry's, and the asian one), or over into SA at fairview/maccarthur. i guess you can walk to the ikea for meatballs.



i'm not sure which elementary serves that area, but the nmusd has a good map you can look at. the API scores vary widely amongst the elem. schools, though.



since they were all built in 2004, i bet that there will be a lot of foreclosures there. maybe going down to low 200s/sf?</blockquote>


I like the design...the only negative is the way the main door entry is designed..it's off to the side, which is bad feng shui in my book.



As for the too close to the 405..I have actually driven thru the neighborhood. The noise factor is pretty much zero. I was quite surprised by how quiet the area was.
 
I'm curious about when the market is actually going to correct in CM. There is still a whole lot of WTF pricing going on. I actually had a realtor tell me that NOW IS THE TIME TO BUY, PRICES ARE AT ROCK-BOTTOM!!!



Nonsense, of course. Even the crappy condos with ridiculous HOAs are over-priced!
 
[quote author="optimusprime" date=1219703631]First off...I'm tracking primarily the Woodbuy, Oak Creek, Westpark section of Irvine as the places I would like to purchase a home in sometime in the next 18-24 months..



However, I do like the 92626 section of Costa Mesa...



In particular the little community of Providence Park gated community.



That's one of the homes on the market...there are 2 other similar to it



<a href="http://www.redfin.com/CA/Costa-Mesa/1302-Corte-Maltera-92626/home/5927029">http://www.redfin.com/CA/Costa-Mesa/1302-Corte-Maltera-92626/home/5927029</a>



The 3 are on the market in the $780-790k range.



The math works out to about $340ish per sq ft..each home being around 2275 sq ft.



Where do you think some these will end up dropping to?



Personally I think they will eventually be priced around $275 per or $625k.



Also...anyone know if Newport Mesa Unified is a good district?</blockquote>


Oh snap...it was on and off for a while with this listing.



$780k listing in June 2008..it got pulled for a while, now it's back up for ... $677k as a short sale. It works out to $298 per sq ft.



Looking at the current environment we're in. I think this baby could be had for $550k-575k now.
 
[quote author="optimusprime" date=1233137121]



Oh snap...it was on and off for a while with this listing.



$780k listing in June 2008..it got pulled for a while, now it's back up for ... $677k as a short sale. It works out to $298 per sq ft.



Looking at the current environment we're in. I think this baby could be had for $550k-575k now.</blockquote>


To live there and back up to Sunflower, it's have to be $250 per sf for me.
 
Have you considered this community:



<img src="http://i-0.rfimg.us/photo/46/bigphoto/767/P646767_2.jpg" alt="" />



http://www.redfin.com/CA/Costa-Mesa/3112-Promenade-92626/home/3713871



much lower HOA, no Roos, but a few years older

<strong>

and they have plenty of room to negotiate:</strong>







Property History for 3112 Promenade

Date Event Price Appreciation Source

Jan 16, 2009 Price Changed $699,000 -- SoCalMLS #P646767

Jan 08, 2009 Price Changed $750,000 -- SoCalMLS #P646767

Dec 18, 2008 Price Changed $770,000 -- SoCalMLS #P646767

Dec 09, 2008 Price Changed $771,000 -- SoCalMLS #P646767

Nov 25, 2008 Price Changed $772,000 -- SoCalMLS #P646767

Nov 20, 2008 Price Changed $788,000 -- SoCalMLS #P646767

Nov 11, 2008 Price Changed $789,000 -- SoCalMLS #P646767

Nov 11, 2008 Price Changed $797,000 -- SoCalMLS #P646767

Oct 31, 2008 Price Changed $799,000 -- SoCalMLS #P646767

Oct 30, 2008 Price Changed $821,000 -- SoCalMLS #P646767

Oct 22, 2008 Price Changed $822,000 -- SoCalMLS #P646767

Oct 21, 2008 Price Changed $868,000 -- SoCalMLS #P646767

Oct 21, 2008 Price Changed $868,900 -- SoCalMLS #P646767

Oct 21, 2008 Price Changed $839,000 -- SoCalMLS #P646767

Aug 13, 2008 Price Changed $869,000 -- SoCalMLS #P646767

Jul 14, 2008 Listed $869,900 -- SoCalMLS #P646767

Jul 11, 2008 Off Redfin * -- Inactive SoCalMLS #4

Jun 17, 2008 Price Changed * -- Inactive SoCalMLS #4

May 15, 2008 Price Changed * -- Inactive SoCalMLS #4

May 01, 2008 Price Changed * -- Inactive SoCalMLS #4

Mar 28, 2008 Price Changed * -- Inactive SoCalMLS #4

Mar 04, 2008 Price Changed * -- Inactive SoCalMLS #4

Jan 23, 2008 Price Changed * -- Inactive SoCalMLS #4

Jan 03, 2008 Price Changed * -- Inactive SoCalMLS #4

Dec 10, 2007 Price Changed * -- Inactive SoCalMLS #4

Nov 09, 2007 Price Changed * -- Inactive SoCalMLS #4

Nov 03, 2007 Price Changed * -- Inactive SoCalMLS #4

Oct 12, 2007 Price Changed * -- Inactive SoCalMLS #4

Aug 12, 2007 Listed * -- Inactive SoCalMLS #4

Jul 26, 2007 Price Changed * -- Inactive SoCalMLS #3

Jul 21, 2007 Price Changed * -- Inactive SoCalMLS #3

Jul 12, 2007 Listed * -- Inactive SoCalMLS #3

Apr 14, 2007 Listed * -- Inactive SoCalMLS #2

Feb 16, 2007 Price Changed * -- Inactive SoCalMLS #1

Feb 03, 2007 Price Changed * -- Inactive SoCalMLS #1

Sep 02, 2006 Listed * -- Inactive SoCalMLS #1

Nov 18, 1996 Sold $280,000 -- Public Records
 
[quote author="tmare" date=1233148573]Oh no! I can see the garage!</blockquote>


SSSHHHHH! BK might find this thread. Then he will say that Asians don't like ocean breezes, and someone will think he means that the white people who live in CM are inferior to Asians because they like ocean breezes and garages. He will be called an elitist and racist. The end.
 
<strong>Chasing Defined: (and why you don't make an offer on a short sale)

</strong>

<img src="http://i-0.rfimg.us/photo/46/bigphoto/849/P676849_0.jpg" alt="" />



http://www.redfin.com/CA/Costa-Mesa/2563-Santa-Ana-Ave-92627/home/5957450







<blockquote>

Property History for 2563 Santa Ana Ave

Date Event Price Appreciation Source

Feb 23, 2009 Listed $699,000 -- SoCalMLS #P676849

Feb 23, 2009 Off Redfin * -- Inactive SoCalMLS #1

Oct 13, 2008 Relisted * -- Inactive SoCalMLS #1

Oct 04, 2008 Off Redfin * -- Inactive SoCalMLS #1

Oct 02, 2008 Relisted * -- Inactive SoCalMLS #1

Sep 23, 2008 Off Redfin * -- Inactive SoCalMLS #1

Sep 14, 2008 Relisted * -- Inactive SoCalMLS #1

Sep 09, 2008 Off Redfin * -- Inactive SoCalMLS #1

Sep 04, 2008 Relisted * -- Inactive SoCalMLS #1

Aug 29, 2008 Off Redfin * -- Inactive SoCalMLS #1

Aug 24, 2008 Relisted * -- Inactive SoCalMLS #1

Aug 20, 2008 Off Redfin * -- Inactive SoCalMLS #1

Aug 18, 2008 Price Changed * -- Inactive SoCalMLS #1

Aug 18, 2008 Relisted * -- Inactive SoCalMLS #1

Aug 14, 2008 Off Redfin * -- Inactive SoCalMLS #1

Jul 25, 2008 Relisted * -- Inactive SoCalMLS #1

Jul 11, 2008 Off Redfin * -- Inactive SoCalMLS #1

Jul 05, 2008 Relisted * -- Inactive SoCalMLS #1

Jun 24, 2008 Off Redfin * -- Inactive SoCalMLS #1

Jun 17, 2008 Price Changed * -- Inactive SoCalMLS #1

Jun 17, 2008 Relisted * -- Inactive SoCalMLS #1

Jun 16, 2008 Off Redfin * -- Inactive SoCalMLS #1

Jun 05, 2008 Relisted * -- Inactive SoCalMLS #1

Jun 04, 2008 Off Redfin * -- Inactive SoCalMLS #1

Jun 01, 2008 Relisted * -- Inactive SoCalMLS #1

May 20, 2008 Off Redfin * -- Inactive SoCalMLS #1

May 20, 2008 Relisted * -- Inactive SoCalMLS #1

May 19, 2008 Off Redfin * -- Inactive SoCalMLS #1

May 14, 2008 Relisted * -- Inactive SoCalMLS #1

May 13, 2008 Off Redfin * -- Inactive SoCalMLS #1

May 05, 2008 Relisted * -- Inactive SoCalMLS #1

Apr 25, 2008 Off Redfin * -- Inactive SoCalMLS #1

Apr 20, 2008 Price Changed * -- Inactive SoCalMLS #1

Apr 20, 2008 Relisted * -- Inactive SoCalMLS #1

Apr 07, 2008 Off Redfin * -- Inactive SoCalMLS #1

Mar 19, 2008 Listed * -- Inactive SoCalMLS #1



*Per MLS rules, we cannot display prices from inactive listings.

Property Tax

Taxable Value

Land $580,525

Additions $366,239

Total $946,764

Tax (2008) $9,995 </blockquote>
 
Is it chasing when they reduce the price by $9? Not $90K, not $9K, not $900 or even $90, but a whopping $9. I'm motivated now, how soon can I put my offer in?



<a href="http://www.redfin.com/CA/Costa-Mesa/1160-Gleneagles-Ter-92627/home/4562369?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">1160 Gleneagles Terrace</a>
 
[quote author="freedomCM" date=1235470115]<strong>Chasing Defined: (and why you don't make an offer on a short sale)

</strong>

<img src="http://i-0.rfimg.us/photo/46/bigphoto/849/P676849_0.jpg" alt="" />



http://www.redfin.com/CA/Costa-Mesa/2563-Santa-Ana-Ave-92627/home/5957450</blockquote>


House was up for sale for six months as "back up offers only" when in reality the owner was trying to get a loan modification. Not sure if it's still the case, or if it fell through and now it's up for sale.
 
[quote author="The Man" date=1235709805][quote author="freedomCM" date=1235470115]<strong>Chasing Defined: (and why you don't make an offer on a short sale)

</strong>

<img src="http://i-0.rfimg.us/photo/46/bigphoto/849/P676849_0.jpg" alt="" />



http://www.redfin.com/CA/Costa-Mesa/2563-Santa-Ana-Ave-92627/home/5957450</blockquote>


House was up for sale for six months as "back up offers only" when in reality the owner was trying to get a loan modification. Not sure if it's still the case, or if it fell through and now it's up for sale.</blockquote>


The Man - I'm just curious, did the owner/agent put it in back-up offers on purpose even though there may/may not have been an accepted offer?, just so he could get a loan mod?
 
and since you seem to have the scoop, what's up with this one: <strong> (did they really put down so much cash that this could be true?)</strong>







Desirable, quiet neighborhood, steps to Canyon Park! NOT A SHORT SALE AND NOT BANK OWNED. Remodeled kitchen, added family room and dining area all with wood flooring. Detached car garage plus covered car port. Large grassy backyard. RV/boat parking.



http://www.redfin.com/CA/Costa-Mesa/930-Arbor-St-92627/home/4569238



Property History for 930 Arbor St

Date Event Price Appreciation Source

Feb 26, 2009 Listed $469,000 -- SoCalMLS #S565094

Feb 24, 2009 Off Redfin * -- Inactive SoCalMLS #2

Feb 22, 2009 Listed * -- Inactive SoCalMLS #2

Feb 06, 2009 Off Redfin * -- Inactive SoCalMLS #1

Dec 26, 2008 Relisted * -- Inactive SoCalMLS #1

Dec 13, 2008 Off Redfin * -- Inactive SoCalMLS #1

Dec 04, 2008 Relisted * -- Inactive SoCalMLS #1

Nov 24, 2008 Off Redfin * -- Inactive SoCalMLS #1

Aug 29, 2008 Relisted * -- Inactive SoCalMLS #1

Aug 18, 2008 Off Redfin * -- Inactive SoCalMLS #1

Jul 10, 2008 Price Changed * -- Inactive SoCalMLS #1

Jun 25, 2008 Relisted * -- Inactive SoCalMLS #1

Jun 18, 2008 Off Redfin * -- Inactive SoCalMLS #1

Jun 15, 2008 Relisted * -- Inactive SoCalMLS #1

Jun 12, 2008 Off Redfin * -- Inactive SoCalMLS #1

Jun 10, 2008 Relisted * -- Inactive SoCalMLS #1

Jun 07, 2008 Off Redfin * -- Inactive SoCalMLS #1

May 23, 2008 Price Changed * -- Inactive SoCalMLS #1

May 07, 2008 Price Changed * -- Inactive SoCalMLS #1

Feb 28, 2008 Price Changed * -- Inactive SoCalMLS #1

Feb 01, 2008 Price Changed * -- Inactive SoCalMLS #1

Jan 15, 2008 Price Changed * -- Inactive SoCalMLS #1

Jan 01, 2008 Price Changed * -- Inactive SoCalMLS #1

Dec 16, 2007 Price Changed * -- Inactive SoCalMLS #1

Nov 29, 2007 Listed * -- Inactive SoCalMLS #1

Aug 29, 2006 Sold $690,000 14.8%/yr Public Records

Sep 02, 2003 Sold $457,000 16.2%/yr Public Records

May 30, 2000 Sold $280,000 -- Public Records



*Per MLS rules, we cannot display prices from inactive listings.

Property Tax

Taxable Value

Land $532,241

Additions $72,259

Total $604,500

Tax (2008) $7,647



<img src="http://i-0.rfimg.us/photo/46/bigphoto/094/S565094_0.jpg" alt="" />
 
[quote author="sell4u" date=1235713233]

The Man - I'm just curious, did the owner/agent put it in back-up offers on purpose even though there may/may not have been an accepted offer?, just so he could get a loan mod?</blockquote>


That was the plan I'm assuming. IIRC it was to put it up, immediately show "sale pending" for loan purposes (whatever that means). However, the house just popped up as a "just listed 2 days ago" when in fact it's been on Redfin and Realtor for some time now (at same price).



So how do I know all this? I would have bought it if it was a true short sale and the lender approved it. My agent got the scoop because I wanted to put an offer in, but wanted more info on the "back up offers accepted" line I saw. That's what I was told, so I said forget it, could be a week, could be 6 months before this is resolved. Besides, it (at the time - 3 months ago) seemed lenders were more open to mods, so I thought it wasn't likely.



Additionally, I just went through short sale hell, and there's a light at the end of the tunnel, supposed to close in 7 days. It's only taken 3 1/2 months to get to this point. Am I getting a deal? Perhaps. But I just want a nice home to live in at this point, and will pay a fair price. Was waiting for Brightwater to tank, but still appears months off, so went shopping elsewhere.
 
One more thing - houses in that tract (9 homes off Santa Ana ave) seem to be easily selling for $700k, so the $699k is either a fair price (if lender accepts), a great buy (if economy improves) or a terrible deal (if prices continue to drop). If I only had a crystal ball...
 
[quote author="stepping_up" date=1235718763]That so is a short sale! I've been watching that one for the past year.</blockquote>




well, they *could* have put enough cash down to get below $417, and not tapped the ATM.



but how likely is that?
 
[quote author="freedomCM" date=1235731501][quote author="stepping_up" date=1235718763]That so is a short sale! I've been watching that one for the past year.</blockquote>




well, they *could* have put enough cash down to get below $417, and not tapped the ATM.



but how likely is that?</blockquote>
Not likely at ALL. I think the realtor is lying and what pisses me off is that his contact info is not in the redfin listing. So, if you really want to know you have to have an agent contact him. At that price, it should be contingent already if it's not a short sale. Remember all the pics from the old listing? This guy only posted 3 photos and none of them show how nice that house is.
 
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