La Vita at Orchard Hills
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Looks like the owners bought in June 2015 for $1,807,500. This owner wants $2.6M and the only upgrade is a cheap landscaping job. Those pictures are horrible! At least the agent could have cleaned the lens of the camera phone so the photos wouldn't have been so hazy.
Took 7 months from the original listing last October but 49 Sunset Cove closed.
Original asking price was $2,185,000. Selling price ended up being $1,910,000.
After all the upgrades and cost to sell, not sure there was much profit for the original owner.
https://www.redfin.com/CA/Irvine/49-Sunset-Cv-92602/home/60431706
They bought it for 1.618 in jan 15, say put $100 k for landscaping and assuming $100k in closing cost they still made close to $100K in profit. Lots of people's annual salary is less than that
Woooow! Talk about far cry from model home...well based on demand for that plan 4 this person is simply out for a cool profit. Trying to max as much as possible. I'm sure he'll get at least $500k profit on this and will be laughing all the way to the bank despite all our insulting comments on here. Maybe it's the doom gloom pictures but damn that house is ugly. All these mls OH homes are making my little capella home with a view look mighty good.
Well it's a much better view than this listed plan 4 looking into shrubs and a toll road. And in the city of irvine where usually your backyard is looking out onto about 3-5 houses surrounding you with no privacy, I'll take no neighbor behind me and a view of the orchard hills any day. Most people consider view as in ocean view or city view, I get it. But in Irvine anything besides your neighbors house or the landfill is considered a view.
Im almost positive they never had plans to renovate it. This is an investment property from Chinese nationals, now wanting to get their money out. Im seeing many new homes bought in 2014, 2015 being put up for sale by these Chinese investors now (a ton in Yorba Linda actually). When the Chinese buy these homes, they usually do not get ANY upgrades. All standard stuff.
So, tumbleweed isn't just standard landscape in Strada, but also in La Vita? Interesting.
That said, I can't believe how they cheaped out on the backyard, etc. They'll still end up making a pretty penny on this deal though (whenever they finally drop the price and sell it).
Closed in June 2015. First placed on the market for resale July 2015. My bet is that it was always intended to be a flip from the get go. I would have so much schadenfreude if they fall flat on their faces due to the utter lack of upgrades and standard grade hideousness!
Dresden215
New member
irviniteeee said:
Looks like the owners bought in June 2015 for $1,807,500. This owner wants $2.6M and the only upgrade is a cheap landscaping job. Those pictures are horrible! At least the agent could have cleaned the lens of the camera phone so the photos wouldn't have been so hazy.
Ready2Downsize
Well-known member
Goriot said:
Took 7 months from the original listing last October but 49 Sunset Cove closed.
Original asking price was $2,185,000. Selling price ended up being $1,910,000.
After all the upgrades and cost to sell, not sure there was much profit for the original owner.
https://www.redfin.com/CA/Irvine/49-Sunset-Cv-92602/home/60431706
49 Sunset Cv was a failed speculative investment. She probably stressed out and decided to get out at break-even after $100k selling cost. The house was beautifully done though~ Nicely upgraded options and custom furnitures. Beautiful landscaping. She should have not listed when the plan 3 lots were still available from the builder.
27 Sunset Cv has no view and one of the smaller lot right next to toll. Incredibly ugly with standard stuff everywhere. Someone will probably still take it at low $2s and fix it up. I wonder if they used a same cheap landscaper as Vicenza on MLS.
27 Sunset Cv has no view and one of the smaller lot right next to toll. Incredibly ugly with standard stuff everywhere. Someone will probably still take it at low $2s and fix it up. I wonder if they used a same cheap landscaper as Vicenza on MLS.
Ready2Downsize
Well-known member
I went to the open house for 49 Sunset looking for decorating ideas. She did a nice job but I never understood all the hoopla over that house.
Realtor told me nothing but the best and all top of the line upgrades (imported drapery rods from Germany, split island with wood and stone so your hands aren't cold when you put your drink down, etc) so I don't doubt she spent a mint on her upgrades.
Not sure if it was just a line, but the realtor said the owner was moving out of the area and that was the reason for the sale.
Realtor told me nothing but the best and all top of the line upgrades (imported drapery rods from Germany, split island with wood and stone so your hands aren't cold when you put your drink down, etc) so I don't doubt she spent a mint on her upgrades.
Not sure if it was just a line, but the realtor said the owner was moving out of the area and that was the reason for the sale.
Irvine Dream
New member
Goriot said:
They bought it for 1.618 in jan 15, say put $100 k for landscaping and assuming $100k in closing cost they still made close to $100K in profit. Lots of people's annual salary is less than that
Ready2Downsize
Well-known member
No way that is all she spent on upgrades and landscaping.
And I just sold a house for more than that so I know how much closing costs run. She ended up with more than $100K in cost to sell unless she lowballed the commissions for the realtors.
And I just sold a house for more than that so I know how much closing costs run. She ended up with more than $100K in cost to sell unless she lowballed the commissions for the realtors.
Paris167
New member
irviniteeee said:
Woooow! Talk about far cry from model home...well based on demand for that plan 4 this person is simply out for a cool profit. Trying to max as much as possible. I'm sure he'll get at least $500k profit on this and will be laughing all the way to the bank despite all our insulting comments on here. Maybe it's the doom gloom pictures but damn that house is ugly. All these mls OH homes are making my little capella home with a view look mighty good.
I remember this house coming on the market briefly a couple months back at the same price. A part of the Brookfield purchase agreement requires that the house not be put on the market until a year after escrow, so they were probably told to take it off the market until the year had passed. It's interesting to see that every possible standard material/architectural feature (i.e. lack of pocket doors, bifold doors, french doors) was chosen... so that's why the house looks so horrible. The owners probably had plans to renovate/upgrade after closing escrow, but then had a change of plans after having to relocate (assuming the tidbit in the property description about the owner is true).irviniteeee said:
Paris167
New member
lovingit said:
Well it's a much better view than this listed plan 4 looking into shrubs and a toll road. And in the city of irvine where usually your backyard is looking out onto about 3-5 houses surrounding you with no privacy, I'll take no neighbor behind me and a view of the orchard hills any day. Most people consider view as in ocean view or city view, I get it. But in Irvine anything besides your neighbors house or the landfill is considered a view.
Villager said:
Im almost positive they never had plans to renovate it. This is an investment property from Chinese nationals, now wanting to get their money out. Im seeing many new homes bought in 2014, 2015 being put up for sale by these Chinese investors now (a ton in Yorba Linda actually). When the Chinese buy these homes, they usually do not get ANY upgrades. All standard stuff.
Perspective
Well-known member
irviniteeee said:
So, tumbleweed isn't just standard landscape in Strada, but also in La Vita? Interesting.
Only potential excuse I could give is if they have young kids so they didn't want to spend the coin now and are going to do it in a few years. Ultimately that is what my wife and I are going to do (as much as it kills me how crappy the standard stuff is, I don't want to put in the stuff I want to do while the kids are so little, would rather wait a couple years and do it. Whether I stick to those guns when we finally move or not, who knows.aquabliss said:
That said, I can't believe how they cheaped out on the backyard, etc. They'll still end up making a pretty penny on this deal though (whenever they finally drop the price and sell it).
If this were an investment property, it's probably their first because finishes like these don't fly in the high end real estate market, and a veteran investor would know this. The landscaping itself makes it looks like more of a rushed attempt to sell than an intended investment property.hello said:
Dresden215 said:
Closed in June 2015. First placed on the market for resale July 2015. My bet is that it was always intended to be a flip from the get go. I would have so much schadenfreude if they fall flat on their faces due to the utter lack of upgrades and standard grade hideousness!