Following in the footsteps of IPO...listing my condo Quail Hill condo for sale

NEW -> Contingent Buyer Assistance Program
That's really cool Trojan. I am looking to put my townhome in the market in February 1st and I hope that i can get lucky with the low mortgage rates. Perhaps I should start a thread "Following in the footsteps of IPO and Trojan."



Thanks for sharing your experience with us on selling your QH condo.
 
[quote author="PANDA" date=1232361450]That's really cool Trojan. I am looking to put my townhome in the market in February 1st and I hope that i can get lucky with the low mortgage rates. Perhaps I should start a thread "Following in the footsteps of IPO and Trojan."



Thanks for sharing your experience with us on selling your QH condo.</blockquote>
No need for thanks Panda, I'm glad I was able to share the experience with you guys. I mean, it was the forum that helped me to decide to sell the condo. You should definitely create a thread to keep us posted on the progress of you selling your condo. Good luck with that and I look forward to meeting up with you next week.
 
So it has been about a year since I listed and sold my condo. And thank goodness I sold it when I did because here are some very recent closed sale comps for condos with the same floorplan (this one is for your IPO):



61 Duet - closed for 554k on 8/7/09

61 Reunion - closed for $550k on 8/20/09



As you guys can see, I would have lost $65k-$70k in equity if I would not have sold the condo when I did.
 
Nice.



I'm still waiting for a similar closed sale in my former area to see how much the market has changed but as you know SFRs are a bit more stubborn. The last ones that were close sold earlier this year for about $40-50k less.



But... it's still dropping much slower than I expected.
 
[quote author="usctrojanman29" date=1252325698]So it has been about a year since I listed and sold my condo. And thank goodness I sold it when I did because here are some very recent closed sale comps for condos with the same floorplan (this one is for your IPO):



61 Duet - closed for 554k on 8/7/09

61 Reunion - closed for $550k on 8/20/09



As you guys can see, I would have lost $65k-$70k in equity if I would not have sold the condo when I did.</blockquote>


hey usc, don't forget the 2k a month for rent = 24k in lost money :-)
 
Is 207 Scarlet (closed for $670,000) a comp for your condo too?
 
I don't know, Oak Creek looks ok right now. Fifty-seven Eaglecreek recently closed for $1,075,000.
 
[quote author="NewportSkipper" date=1252366697]I don't know, Oak Creek looks ok right now. Fifty-seven Eaglecreek recently closed for $1,075,000.</blockquote>


Only a $100,000 loss from their 2005 purchase.
 
But it's under 10% and was suffered much earlier than these past 12 months. Even if the drop were recent, that isn't enough to uproot yourself over.
 
A home in the same tract as 57 Eaglecreek, 2 Palmwood, closed last September for $925,000 but that didn't stop 57 Eaglecreek from fetching $1,075,000 a full year later.



There's also 10 Preston which went for $1,055,000 in June 2008 and 2 Preston which went for $1,057,500 in July of 2008. This neighborhood looks firm over the last year and a half.
 
[quote author="NewportSkipper" date=1252365998]Is 207 Scarlet (closed for $670,000) a comp for your condo too?</blockquote>


That's a different floorplan. Different complex. More square footage.



The sales records show several exact matches and in the same complex, but you pull a different floorplan, different complex.
 
[quote author="No_Such_Reality" date=1252368325][quote author="NewportSkipper" date=1252365998]Is 207 Scarlet (closed for $670,000) a comp for your condo too?</blockquote>


That's a different floorplan. Different complex. More square footage.



The sales records show several exact matches and in the same complex, but you pull a different floorplan, different complex.</blockquote>


It's only a few square feet difference. The REO and short sale comps being used here aren't the whole story.
 
[quote author="NewportSkipper" date=1252368558][quote author="No_Such_Reality" date=1252368325][quote author="NewportSkipper" date=1252365998]Is 207 Scarlet (closed for $670,000) a comp for your condo too?</blockquote>


That's a different floorplan. Different complex. More square footage.



The sales records show several exact matches and in the same complex, but you pull a different floorplan, different complex.</blockquote>


It's only a few square feet difference. The REO and short sale comps being used here aren't the whole story.</blockquote>


There are EXACT matches and they tell a different story.
 
[quote author="No_Such_Reality" date=1252368920][quote author="NewportSkipper" date=1252368558][quote author="No_Such_Reality" date=1252368325][quote author="NewportSkipper" date=1252365998]Is 207 Scarlet (closed for $670,000) a comp for your condo too?</blockquote>


That's a different floorplan. Different complex. More square footage.



The sales records show several exact matches and in the same complex, but you pull a different floorplan, different complex.</blockquote>


It's only a few square feet difference. The REO and short sale comps being used here aren't the whole story.</blockquote>


There are EXACT matches and they tell a different story.</blockquote>


For today they do. I'm quite sure I could pull you some data for other Quail Hill units that look very much like what Oak Creek is going through.
 
There's also 70 Duet, which is 343 smaller than USC's unit but just commanded $585,000 on September 2, 2009.



I see this one is detached, so it has a premium. But there is also 171 Stepping Stone, a smaller unit that just closed at $326 a square foot to USC's $336 a square foot.
 
[quote author="NewportSkipper" date=1252365998]Is 207 Scarlet (closed for $670,000) a comp for your condo too?</blockquote>
It is not a direct comp, my condo (Ambridge Plan 4) has 2 attached walls and was South of Quail Hill Parkway with no yard while 207 Scarlet (Sandalwood Plan A) only has 1 attached walls which is further up the hill North of Quail Hill Parkway and has a small side yard). So 207 Scarlet is superior comp to my condo at 388 Quail Ridge.
 
You must log in or register to reply here.
Back
Top