Irvine Open House

NEW -> Contingent Buyer Assistance Program
[quote author="ck"]
[quote author="roundcorners"]We were walking to our friends house Sunday afternoon and we came up on an open house and decided to go in... it was a WTF house that IR profiled last week...

http://www.redfin.com/CA/Irvine/55-Plantation-92620/home/17470177

[/quote]

That is one fugly house. I wonder if they intentionally spelled "Woodberry" like "Burberry"? Just like Burberry is an inferior 2nd class option to LV or Gucci, "Woodberry" is an inferior 2nd class option to Northpark.

Hehe --- I bet those are fighting words for some around here. <!-- s;) -->;)<!-- s;) -->[/quote]

Hahahahaha! that was funny! Time for Panda to goto bed.
 
[quote author="roundcorners"]We were walking to our friends house Sunday afternoon and we came up on an open house and decided to go in... it was a WTF house that IR profiled last week...

http://www.redfin.com/CA/Irvine/55-Plantation-92620/home/17470177

I knew going in I was going to have a field day... I balk at the price when the realtard handing us a sales sheet... The place is owned by what seems like a older white couple, no children... it's a Stonetree plan 1; very barren... Landscaping was never done, with the rains, the patio looks like a flooded swamp.

We came back down and was ready for the confrontation, I was ready... I opened, with so, it looks like the sellers are not very motivated... he responded; well, we got to try, things are coming back! We can buy new with this price! I said... He then used the funniest line... Well, these have lower taxes! What? The new development are the same at around 1.76%... how much is it here? Ummmm,, 1.5% I think. How much is the base, I asked? Um, 1%; I corrected with 1.2%; and how much is Mello-Roos, he didn't know!

I next asked, what is it called with a house sits on a T intersection and has a street coming right into the house? It's called bad Fong-Shui, he said, very true I said! An FCB standing next to me, said it in Chinese...

Boy... working on a Superbowl Sunday... must be a tough life! What a waste of 10 minutes on our Sunday...[/quote]

If I were looking at Stontree homes in WB this one looks like a better deal with a much nicer front yard/lot:
171 Groveland
$828K
4bd/3.5bath
2268 sqft
http://www.redfin.com/CA/Irvine/171-Groveland-92620/home/7220034

Plan 4 Stonetree
http://floorplans.irvinerealtorsite.com/Woodbury/Stonetree/StoneTreeC2268.JPG

Looks like they took the downstairs 4th bedroom option with a shower.
 
Seeing stonetree going for this much makes me realize why 67 Waterspout @ $750K (Portisol 1949 sq ft) just went under contract...
 
[quote author="graceomalley"]My apology. There are 4 floor plans. For some reason I only recalled 3 model homes?

You snatched 2 pebbles off my hands [/quote]

no worries... and although sometimes i disagree with what you say, i've always respected your opinions, and the fact that you share your experience and knowledge with the rest of us...
 
[quote author="akim997"]Seeing stonetree going for this much makes me realize why 67 Waterspout @ $750K (Portisol 1949 sq ft) just went under contract... [/quote]

The Portisol homes are a better product versus Stonetree, traditional SFR, with driveway, side yards, and back yard. Just not many on the market in WB.

That Plan 3 Stonetree seems too expensive. Should be priced around mid to upper $700K. I thought there were several shortsale/REO Stonetrees in the last 6 months? Anyone out there have closing price info on those homes?
 
[quote author="IACRenter"]
That Plan 3 Stonetree seems too expensive. Should be priced around mid to upper $700K. I thought there were several shortsale/REO Stonetrees in the last 6 months? Anyone out there have closing price info on those homes?[/quote]
Per Scott's site: http://www.irvinerealtorsite.com:

5/1/2009 49 Plantation 4 2104 $749,000 $720,000
5/14/2009 24 Twin Gables 4 2268 $699,800 $700,000
5/29/2009 179 Intrigue 4 2286 $664,900 $705,000
10/29/2009 94 Rinaldi 4 2104 $650,000 $670,000
11/23/2009 53 Plantation 4 2268 $799,900 $770,000
 
[quote author="irvinehomeowner"]
[quote author="IACRenter"]
That Plan 3 Stonetree seems too expensive. Should be priced around mid to upper $700K. I thought there were several shortsale/REO Stonetrees in the last 6 months? Anyone out there have closing price info on those homes?[/quote]
Per Scott's site: http://www.irvinerealtorsite.com:

5/1/2009 49 Plantation 4 2104 $749,000 $720,000
5/14/2009 24 Twin Gables 4 2268 $699,800 $700,000
5/29/2009 179 Intrigue 4 2286 $664,900 $705,000
10/29/2009 94 Rinaldi 4 2104 $650,000 $670,000
11/23/2009 53 Plantation 4 2268 $799,900 $770,000
[/quote]

Thanks IHO.

So looks like 171 Groveland is about $100K too expensive. Their current pricing puts them into direct competition with the brand new Sonoma plans, which have more square footage, their own driveway and back yards.
 
stonetree is ok... but i'd even consider bella rosa in NWII... once you are willing to give up the driveway in front, some options open up. bella rosa isnt great, but at least you get a nice secluded patio on the side of ur house...
 
[quote author="akim997"]stonetree is ok... but i'd even consider bella rosa in NWII... once you are willing to give up the driveway in front, some options open up. bella rosa isnt great, but at least you get a nice secluded patio on the side of ur house... [/quote]

How crazy is that! We can spend over 1/2 million dollars on a home and all we get are small patios, no driveways, and no view in Irvine. Something is seriously wrong with this picture. The bubble years have seriously distorted our view of value in Irvine. I am hoping we have a lot further to go for Irvine RE price deflation. <!-- s:( -->:(<!-- s:( -->
 
[quote author="IACRenter"]
[quote author="akim997"]stonetree is ok... but i'd even consider bella rosa in NWII... once you are willing to give up the driveway in front, some options open up. bella rosa isnt great, but at least you get a nice secluded patio on the side of ur house... [/quote]

How crazy is that! We can spend over 1/2 million dollars on a home and all we get are small patios, no driveways, and no view in Irvine. Something is seriously wrong with this picture. The bubble years have seriously distorted our view of value in Irvine. I am hoping we have a lot further to go for Irvine RE price deflation. <!-- s:( -->:(<!-- s:( -->[/quote]

Still waiting for that RE deflation
 
There will not be a deflation in Irvine. Deflation occurs when there is mass population exodus and high volume sell offs. In order to see price increase Carmel must exceed $1 million to make room for the price increase for all project below that segmentation. Villa Rosa may be the biggest problem for Carmel since its tired and old. It does not have the hype like the new Collection.

I will not be surprised to see TIC soon would replace Villa Rosa with something fresh to release upper end price valve to release the price pressure clumping from Montecito to Coronado.
 
There will not be a deflation in Irvine. Deflation occurs when there is mass population exodus and high volume sell offs.

Here is why....

xof66a.jpg
 
[quote author="Panda "]There will not be a deflation in Irvine. Deflation occurs when there is mass population exodus and high volume sell offs.

Here is why....

xof66a.jpg
[/quote]
Panda, but both North Las Vegas and Victorville made the list and both towns had their real estate prices crushed.
 
[quote author="USCTrojanCPA"]
Panda, but both North Las Vegas and Victorville made the list and both towns had their real estate prices crushed.[/quote]
I think those estimates were based on prior year data so that makes sense.

During the bubble, people thought Vegas and Riverside were "bargains" compared to areas like Irvine so it makes sense that their population grew... but I think if you look at actual numbers from '08 on... it is probably flat or less.
 
[quote author="irvinehomeowner"]
[quote author="USCTrojanCPA"]
Panda, but both North Las Vegas and Victorville made the list and both towns had their real estate prices crushed.[/quote]
I think those estimates were based on prior year data so that makes sense.

During the bubble, people thought Vegas and Riverside were "bargains" compared to areas like Irvine so it makes sense that their population grew... but I think if you look at actual numbers from '08 on... it is probably flat or less.[/quote]

I think the biggest difference is N Las Vegas and Victorville over built while Irvine has a super tight control of inventory to protect the existing home prices. I am sure once all the excess inventory gets absorbed in N Las Vegas and Victorville home prices wil start to rise in those areas.
 
[quote author="USCTrojanCPA"]
[quote author="irvinehomeowner"]I'm gonna try to see the Grape Arbor short sale open house today:

http://www.redfin.com/CA/Irvine/28-Grape-Arbor-92620/home/5931538[/quote]
Considering that 29 Grape Arbor with the same floor plan sold for $835k cash I'm a little surprised this isn't in back-up/pending status yet. IHO, ask the realtard if they have any offers yet.[/quote]

I wouldn't be surprised that this realtard is holding out for the highest offer. I am going to check it out today also. Will I spot IHO from the crowd? If there is a crowd.
 
I checked out Grape Arbor today as well and there were a lot of people (all the parking on the street was full), and the majority of visitors were Asian, with the majority of those Chinese!
 
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