Hot Home For Sale of The Week
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Stonegate is on Fire. No inventory and when a good listing comes out, they get snatched up pretty fast. Especially the SFRs. Eastwood spill over effect or whats up with SG these days that I don't know about? Below are few examples.
https://www.redfin.com/CA/Irvine/212-Kempton-92620/home/59049469- Pending in 6 Dayshttps://www.redfin.com/CA/Irvine/48-Somerton-92620/home/45363453/crmls-OC16042545- Pending in 1 weekhttps://www.redfin.com/CA/Irvine/60-Elmdale-92620/home/103676392- Pending in 2 Weekshttps://www.redfin.com/CA/Irvine/212-Shelbourne-92620/home/59050929- Pending in 4 Dayshttps://www.redfin.com/CA/Irvine/119-Baritone-92620/home/103964531- Pending in 1.5 weekshttps://www.redfin.com/CA/Irvine/81-Birmingham-92620/home/103944500- Pending 2 weekshttps://www.redfin.com/CA/Irvine/237-Overbrook-92620/home/51685609- Pending 3 weeks
Even though it's just a 3 br and no downstairs bedroom? =) Compared to Belvedere and Piedmont, yah it still well priced. Pending in 4 days means it's under listed.
So much ado about china slowdown and FCBs drying up. I guess nobody knows anythings is the mantra for Irvine RE.
I saw same floor plans in SG sold at 780-790k in Jan-Feb. So, the driveway and itty bitty more SQFT in bkyard commanded 80k premium!!
I think Eastwood is driving up SG homes. Compare this one to Petaluma in EW, the price is attractive especially with a full drive way and all the upgrades and completed landscaping. I will definitely take this one over Petaluma that has a starting base price in the low $800k for a comparable one. Homes under <$1-$1.1mm selling really well. Anything over $1.2mm stalled big time. FCB $$ for luxury homes dried up for now.
I don't get the frenzy over this house? The description starts with "Location! Location! Location!" but all I see is it's next to Sand Canyon Ave. That's a major street with a ton of traffic and road noise. What's so great about that? It's quite typical that builders throw in some sweeteners, like bigger lot, to make a bad location more palatable to buyers.
I wonder if there is some soil/settling issue as an explanation? That particular unit had its outside patio block wall completely torn down and rebuilt from scratch. Construction was on going for what seemed like a good part of a year. Anyway, anyone who is considering this property should make sure to fully investigate the reason why such extensive work was needed. and of course, I'm sure it would be part of the disclosures!
If that one is hot, wouldn't it make this one even hotter?https://www.redfin.com/CA/Irvine/49-Chantilly-92620/home/5978865
$367/sq ft.
I'm not so sure on that Spanish Lace home. I lived in a Treo home for 5 years and know all the layouts very well. This is IMO one of the worst floorplans ever. The downstairs is completely compartmentalized into these little squares. Small dining room, small living room, small kitchen, just weird. i guess some people like that but I'm a fan of a huge great room and living in this condo would just weird me out.
Plus, I know from experience that once prices of attached homes are over $700k (at least in Woodbury), people are more likely to find a detached condo for the same price or slightly higher, even if it means less square footage. Will be interesting to keep an eye on this one.
Good point.
I'm a little surprised about the price/s.f. difference between attached and detached product. A detached condo or true SFR can easily asking over $450/s.f. but a attached condo can not even reach $400/s.f.?
I'm interested in how this one on Spanish Lace turn out too. And even if it got sold around asking, the seller still loose money on it.
Nope, comps for that floor plan with a regular lot and no driveway were more like $815k-$820k. The buyer and I spoke about the larger lot and driveway...I told the buyer that builders charge $35k-$40k for driveways and that lot premiums could be $15k-$25k for this home. Buyer took all that in and offered $871k as their best offer but a cash buyer went higher.
USCTrojanCPA said:
Stonegate is on Fire. No inventory and when a good listing comes out, they get snatched up pretty fast. Especially the SFRs. Eastwood spill over effect or whats up with SG these days that I don't know about? Below are few examples.
https://www.redfin.com/CA/Irvine/212-Kempton-92620/home/59049469- Pending in 6 Dayshttps://www.redfin.com/CA/Irvine/48-Somerton-92620/home/45363453/crmls-OC16042545- Pending in 1 weekhttps://www.redfin.com/CA/Irvine/60-Elmdale-92620/home/103676392- Pending in 2 Weekshttps://www.redfin.com/CA/Irvine/212-Shelbourne-92620/home/59050929- Pending in 4 Dayshttps://www.redfin.com/CA/Irvine/119-Baritone-92620/home/103964531- Pending in 1.5 weekshttps://www.redfin.com/CA/Irvine/81-Birmingham-92620/home/103944500- Pending 2 weekshttps://www.redfin.com/CA/Irvine/237-Overbrook-92620/home/51685609- Pending 3 weeks
lnc said:Goriot said:
That home is way under listed!
With location like that, it should be at least $500/sq.ft. If any of neighboring home come on the market, it will be on my hot home for sale of the week.
Even though it's just a 3 br and no downstairs bedroom? =) Compared to Belvedere and Piedmont, yah it still well priced. Pending in 4 days means it's under listed.
Cornflakes
Active member
USCTrojanCPA said:
So much ado about china slowdown and FCBs drying up. I guess nobody knows anythings is the mantra for Irvine RE.
I saw same floor plans in SG sold at 780-790k in Jan-Feb. So, the driveway and itty bitty more SQFT in bkyard commanded 80k premium!!
Cornflakes said:
I think Eastwood is driving up SG homes. Compare this one to Petaluma in EW, the price is attractive especially with a full drive way and all the upgrades and completed landscaping. I will definitely take this one over Petaluma that has a starting base price in the low $800k for a comparable one. Homes under <$1-$1.1mm selling really well. Anything over $1.2mm stalled big time. FCB $$ for luxury homes dried up for now.
lnc said:
I don't get the frenzy over this house? The description starts with "Location! Location! Location!" but all I see is it's next to Sand Canyon Ave. That's a major street with a ton of traffic and road noise. What's so great about that? It's quite typical that builders throw in some sweeteners, like bigger lot, to make a bad location more palatable to buyers.
Some of FCB buyers don't care about SFR or SF Detached Condo.
They invest here for their children's education. They may not even live here before their children go to high school.
Thus they will ask some agents which kind of home is easier to rent before they move here.
They invest here for their children's education. They may not even live here before their children go to high school.
Thus they will ask some agents which kind of home is easier to rent before they move here.
acf said:
Here's another Hot Home for sale. $379/s.f.!!
https://www.redfin.com/CA/Irvine/121-Spanish-Lace-92620/home/12252965
This is Brookfield's Treo plan and I wonder if the listing price is a typo. Bought in 2006 for $766,500 and now listed for $768,800. The market price for this home should be around another $100k more.
If the listing price is correct and this is not a short sale, a 2026 s.f. attached condo at $768,800 is an awesome deal.
https://www.redfin.com/CA/Irvine/121-Spanish-Lace-92620/home/12252965
This is Brookfield's Treo plan and I wonder if the listing price is a typo. Bought in 2006 for $766,500 and now listed for $768,800. The market price for this home should be around another $100k more.
If the listing price is correct and this is not a short sale, a 2026 s.f. attached condo at $768,800 is an awesome deal.
Ready2Downsize
Well-known member
Is it the same as this floorplan?
https://www.redfin.com/CA/Irvine/47-Concierto-92620/home/7214669
https://www.redfin.com/CA/Irvine/47-Concierto-92620/home/7214669
Irvine Dream
New member
This Realtor usually prices it low, possibly to generate multiple bidslnc said:
lnc said:
I wonder if there is some soil/settling issue as an explanation? That particular unit had its outside patio block wall completely torn down and rebuilt from scratch. Construction was on going for what seemed like a good part of a year. Anyway, anyone who is considering this property should make sure to fully investigate the reason why such extensive work was needed. and of course, I'm sure it would be part of the disclosures!
aquabliss
Well-known member
lnc said:
If that one is hot, wouldn't it make this one even hotter?https://www.redfin.com/CA/Irvine/49-Chantilly-92620/home/5978865
$367/sq ft.
I'm not so sure on that Spanish Lace home. I lived in a Treo home for 5 years and know all the layouts very well. This is IMO one of the worst floorplans ever. The downstairs is completely compartmentalized into these little squares. Small dining room, small living room, small kitchen, just weird. i guess some people like that but I'm a fan of a huge great room and living in this condo would just weird me out.
Plus, I know from experience that once prices of attached homes are over $700k (at least in Woodbury), people are more likely to find a detached condo for the same price or slightly higher, even if it means less square footage. Will be interesting to keep an eye on this one.
aquabliss said:
Good point.
I'm a little surprised about the price/s.f. difference between attached and detached product. A detached condo or true SFR can easily asking over $450/s.f. but a attached condo can not even reach $400/s.f.?
I'm interested in how this one on Spanish Lace turn out too. And even if it got sold around asking, the seller still loose money on it.
usctrojancpa
Well-known member
Cornflakes said:
Nope, comps for that floor plan with a regular lot and no driveway were more like $815k-$820k. The buyer and I spoke about the larger lot and driveway...I told the buyer that builders charge $35k-$40k for driveways and that lot premiums could be $15k-$25k for this home. Buyer took all that in and offered $871k as their best offer but a cash buyer went higher.