[IHB] Open House Review: 6 Night Bloom

[zovall]

Blog post by Karen:http://www.irvinehousingblog.com/blog/comments/open-house-review-6-night-bloom

 

[BunkMoreland]

This was a nice home, but the small dining space, undesirable neighborhood, and noise from Culver kept us from bidding.

It sold fast as we expected though.

 

[JasonTheArtist]

My wife really loved this house. I really didn't mind the small dining space but the road noise from culver and even from the 5 freeway was a mood killer. I wonder what the final bid was.

 

[irvinehomeowner]

Pending in 5 days is pretty fast... this has one of the nicer interiors (and exteriors) I've seen in a while.

EDIT: OCD Typo

 

[JasonTheArtist]

What good does aesthetics do when you have constant noise pollution.

I pulled this off of the EPA website:

"Noise pollution adversely affects the lives of millions of people.  Studies have shown that there are direct links between noise and health.  Problems related to noise include stress related illnesses, high blood pressure, speech interference, hearing loss, sleep disruption, and lost productivity.  Noise Induced Hearing Loss (NIHL) is the most common and often discussed health effect, but research has shown that exposure to constant or high levels of noise can cause countless adverse health affects.'

 

[usctrojancpa]

My wife really loved this house. I really didn't mind the small dining space but the road noise from culver and even from the 5 freeway was a mood killer. I wonder what the final bid was.

My guess is that it sold around the top of the price range.  Like I said before, anything that shows well and is priced around comps will fly into escrow in this market. 

 

[JasonTheArtist]

My wife really loved this house. I really didn't mind the small dining space but the road noise from culver and even from the 5 freeway was a mood killer. I wonder what the final bid was.

My guess is that it sold around the top of the price range.  Like I said before, anything that shows well and is priced around comps will fly into escrow in this market.

What if the market starts to balance out (if it ever does)? Wouldn't the value of this house drop substantially?

 

[homer_simpson]

I think almost any home sold in this market will see a decrease in value.

 

[irvinehomeowner]

What good does aesthetics do when you have constant noise pollution.

Believe me, I understand the noise thing.

But for some (or many), it's not that big an issue for them (despite what the EPA says).

If you think about, no one should live by the ocean with all that wave crashing noise... but we know how expensive waterfront property is.

 

[cubiczirconia]

My wife really loved this house. I really didn't mind the small dining space but the road noise from culver and even from the 5 freeway was a mood killer. I wonder what the final bid was.

My guess is that it sold around the top of the price range.  Like I said before, anything that shows well and is priced around comps will fly into escrow in this market.

What if the market starts to balance out (if it ever does)? Wouldn't the value of this house drop substantially?

The way this market is bubbling again, things can head south anytime. But then, this is Irvine. The bottom isn't too far below, and there is no limit going North. If this is just the beginning of a bubble and national housing picks up, condos like this will see even higher prices. If it was a micro, oh well, it's a nice house to live in. Sales data is also pretty strong for this community. Didn't crash like West Irvine..

 

[usctrojancpa]

My wife really loved this house. I really didn't mind the small dining space but the road noise from culver and even from the 5 freeway was a mood killer. I wonder what the final bid was.

My guess is that it sold around the top of the price range.  Like I said before, anything that shows well and is priced around comps will fly into escrow in this market.

What if the market starts to balance out (if it ever does)? Wouldn't the value of this house drop substantially?

Currently the is an imbalance between demand and supply (i.e. demand is outstripping supply).  There is a backlog of buyers out there, not only in Irvine but in other cities in Orange County and in the US.  For example, Aliso Viejo has only 2 weeks of inventory....detached condo prices have gone north of $300/sf on average.  General economic theory would say that in order for the market to come to an equalibrium either supply needs to go up or prices need to go up.  I don't see more inventory out there so I think we continue with price appreciation in 2013 until further notice. 

 

[usctrojancpa]

My wife really loved this house. I really didn't mind the small dining space but the road noise from culver and even from the 5 freeway was a mood killer. I wonder what the final bid was.

My guess is that it sold around the top of the price range.  Like I said before, anything that shows well and is priced around comps will fly into escrow in this market.

What if the market starts to balance out (if it ever does)? Wouldn't the value of this house drop substantially?

The way this market is bubbling again, things can head south anytime. But then, this is Irvine. The bottom isn't too far below, and there is no limit going North. If this is just the beginning of a bubble and national housing picks up, condos like this will see even higher prices. If it was a micro, oh well, it's a nice house to live in. Sales data is also pretty strong for this community. Didn't crash like West Irvine..

You'll love this...so the home that I bought probably at near the lows was appraised at $825k at the peak (I got some stuff in the mail from the seller's lender which had a copy of the cash-out refi appraisal).  Looks like the bottom was around 30% off the peak at least for my home. 

 

[homer_simpson]

My wife really loved this house. I really didn't mind the small dining space but the road noise from culver and even from the 5 freeway was a mood killer. I wonder what the final bid was.

My guess is that it sold around the top of the price range.  Like I said before, anything that shows well and is priced around comps will fly into escrow in this market.

What if the market starts to balance out (if it ever does)? Wouldn't the value of this house drop substantially?

The way this market is bubbling again, things can head south anytime. But then, this is Irvine. The bottom isn't too far below, and there is no limit going North. If this is just the beginning of a bubble and national housing picks up, condos like this will see even higher prices. If it was a micro, oh well, it's a nice house to live in. Sales data is also pretty strong for this community. Didn't crash like West Irvine..

You'll love this...so the home that I bought probably at near the lows was appraised at $825k at the peak (I got some stuff in the mail from the seller's lender which had a copy of the cash-out refi appraisal).  Looks like the bottom was around 30% off the peak at least for my home.

You lucky bas**** LOL!

 

[usctrojancpa]

My wife really loved this house. I really didn't mind the small dining space but the road noise from culver and even from the 5 freeway was a mood killer. I wonder what the final bid was.

My guess is that it sold around the top of the price range.  Like I said before, anything that shows well and is priced around comps will fly into escrow in this market.

What if the market starts to balance out (if it ever does)? Wouldn't the value of this house drop substantially?

The way this market is bubbling again, things can head south anytime. But then, this is Irvine. The bottom isn't too far below, and there is no limit going North. If this is just the beginning of a bubble and national housing picks up, condos like this will see even higher prices. If it was a micro, oh well, it's a nice house to live in. Sales data is also pretty strong for this community. Didn't crash like West Irvine..

You'll love this...so the home that I bought probably at near the lows was appraised at $825k at the peak (I got some stuff in the mail from the seller's lender which had a copy of the cash-out refi appraisal).  Looks like the bottom was around 30% off the peak at least for my home.

You lucky bas**** LOL!

As I like to say...it's better to be lucky than good sometimes. 

 

[ps99472]

Maybe get some triple pane windows to block out the noise?