Listings that pique my interest... feedback?

[irvinehomeshopper]

Drove by there today. The blocks are short and the lot rhythm is all custom where there are no two lots the same width. Some homes have broad frontage while some are narrow. Single stories mixed with 2 stories along a broad canopy of tree line street is nice. The most important feature is just a short stone throw away from 4 stars yelp rated dim sum restaurants. It is literally close to everything.

 

[The Motor Court Company]

a starter home that probably does not fit the theme of this thread; but this seems like better value and location than USC's new pad. I wonder what price this will close at? the correction is still happening at WI?
http://www.redfin.com/CA/Irvine/67-Copper-Leaf-92602/home/4793991?utm_campaign=listings_update&utm_medium=email&utm_source=myredfin

 

[WoodburyDad]

a starter home that probably does not fit the theme of this thread; but this seems like better value and location than USC's new pad. I wonder what price this will close at? the correction is still happening at WI?
http://www.redfin.com/CA/Irvine/67-Copper-Leaf-92602/home/4793991?utm_campaign=listings_update&utm_medium=email&utm_source=myredfin

The first is at $491K, so there may be some room there.
Haven?t seen the inside so I?m not sure if/how much rehab/renovation work is needed.
May end up not requiring much, great fix and flip potential at $486K (opening bid) or lower.

 

[usctrojancpa]

a starter home that probably does not fit the theme of this thread; but this seems like better value and location than USC's new pad. I wonder what price this will close at? the correction is still happening at WI?
http://www.redfin.com/CA/Irvine/67-Copper-Leaf-92602/home/4793991?utm_campaign=listings_update&utm_medium=email&utm_source=myredfin

The shared driveway is not very appealing to the eyes as the house is tucked away from the street and it does not have a downstairs bedroom/den.  Just like my place, it needs work to get up to speed.

 

[davenlei]

a starter home that probably does not fit the theme of this thread; but this seems like better value and location than USC's new pad. I wonder what price this will close at? the correction is still happening at WI?
http://www.redfin.com/CA/Irvine/67-Copper-Leaf-92602/home/4793991?utm_campaign=listings_update&utm_medium=email&utm_source=myredfin

The shared driveway is not very appealing to the eyes as the house is tucked away from the street and it does not have a downstairs bedroom/den.  Just like my place, it needs work to get up to speed.

Shared driveways suck really bad if you get the neighbor who feels entitled to park where ever they want in 'their driveway'.  Also the repair and maintenance is shared between the two neighbors which can suck if you have a neighbor who won't put up their half of the repair.

 

[ps99472]

Drove by there today. The blocks are short and the lot rhythm is all custom where there are no two lots the same width. Some homes have broad frontage while some are narrow. Single stories mixed with 2 stories along a broad canopy of tree line street is nice. The most important feature is just a short stone throw away from 4 stars yelp rated dim sum restaurants. It is literally close to everything.

14 offers, in pending status.. i guess when its southpas or san marino, spend a fortune to purchase and then a fortune to fix..

 

[irvinehomeshopper]

Omg! FCBs (fKing Chinese Bastards) invaded SPas too!

 

[woodburyowner]

http://www.redfin.com/CA/Irvine/30-Bamboo-92620/home/5931587

Current owner purchased this property from a trustee sale and is now flipping it.  Haven't seen too many opportunities to flip a nice looking property in Irvine.

 

[usctrojancpa]

http://www.redfin.com/CA/Irvine/30-Bamboo-92620/home/5931587

Current owner purchased this property from a trustee sale and is now flipping it.  Haven't seen too many opportunities to flip a nice looking property in Irvine.

Looks like it was an individual and not an investor group....picked it up for $751,100 at the foreclosure auction.

This property is also a flip that was picked up at the foreclosure auction:
http://www.redfin.com/CA/Irvine/16-Bragg-92620/home/4778937

They picked it up for $549,000.

 

[ninja88]

wonder why the sales prices wasnt reflected on 30 bamboo but was on 16 bragg on redfin.

 

[woodburyowner]

Looks like it was an individual and not an investor group....picked it up for $751,100 at the foreclosure auction.

Yea, it was a Chinese couple who purchased it at the auction.  It will be interesting to see how much they end up making off this flip.  The property doesn't show that well.  Front landscape is very minimal and there is no landscaping in the back and side (dirt and red mulch).  The flooring is a mix of random carpet, marble, wood, tile.  The paint selection is horrible and window treatments are still required on the bulk of the house.  I would guess this property ends up going for ~$815k. 

Doesn't leave too much room for profit after Realtor, holding and transaction fees. 

 

[flipper]

Looks like it was an individual and not an investor group....picked it up for $751,100 at the foreclosure auction.

Yea, it was a Chinese couple who purchased it at the auction.  It will be interesting to see how much they end up making off this flip.  The property doesn't show that well.  Front landscape is very minimal and there is no landscaping in the back and side (dirt and red mulch).  The flooring is a mix of random carpet, marble, wood, tile.  The paint selection is horrible and window treatments are still required on the bulk of the house.  I would guess this property ends up going for ~$815k. 

Doesn't leave too much room for profit after Realtor, holding and transaction fees.

7-8 flippers were bidding on this house. Most flippers estimated the selling price to be $800-820k. If it did sell for $820k, the flipping profit is around $30k. I gave up bidding at $730k.

 

[usctrojancpa]

Looks like it was an individual and not an investor group....picked it up for $751,100 at the foreclosure auction.

Yea, it was a Chinese couple who purchased it at the auction.  It will be interesting to see how much they end up making off this flip.  The property doesn't show that well.  Front landscape is very minimal and there is no landscaping in the back and side (dirt and red mulch).  The flooring is a mix of random carpet, marble, wood, tile.  The paint selection is horrible and window treatments are still required on the bulk of the house.  I would guess this property ends up going for ~$815k. 

Doesn't leave too much room for profit after Realtor, holding and transaction fees.

7-8 flippers were bidding on this house. Most flippers estimated the selling price to be $800-820k. If it did sell for $820k, the flipping profit is around $30k. I gave up bidding at $730k.

I haven't been to the courthouse auction in a while, are there are more flippers out there now that there are lower levels of inventory?

 

[flipper]

wonder why the sales prices wasnt reflected on 30 bamboo but was on 16 bragg on redfin.

The sale price for 30 Bamboo will show up in next week or two. Normally it will take one to two weeks to get the trustee deed from trustee. Then the buyer can either record it in County Recorder's Office immediately or wait for awhile. After it's recorded, it will take 7-10 days for the sale price to be shown on the public record.

 

[flipper]

Looks like it was an individual and not an investor group....picked it up for $751,100 at the foreclosure auction.

Yea, it was a Chinese couple who purchased it at the auction.  It will be interesting to see how much they end up making off this flip.  The property doesn't show that well.  Front landscape is very minimal and there is no landscaping in the back and side (dirt and red mulch).  The flooring is a mix of random carpet, marble, wood, tile.  The paint selection is horrible and window treatments are still required on the bulk of the house.  I would guess this property ends up going for ~$815k. 

Doesn't leave too much room for profit after Realtor, holding and transaction fees.

7-8 flippers were bidding on this house. Most flippers estimated the selling price to be $800-820k. If it did sell for $820k, the flipping profit is around $30k. I gave up bidding at $730k.

I haven't been to the courthouse auction in a while, are there are more flippers out there now that there are lower levels of inventory?

Everyday 20-30 people show up. The competition is high and there is not much profit. Therefore the buyer for 30 Bamboo is willing to pay $751k to make around $30k profit. He may be looking for luck to find a buyer to sell the house at $850k for a $60k profit.

 

[flipper]

Drove by there today. The blocks are short and the lot rhythm is all custom where there are no two lots the same width. Some homes have broad frontage while some are narrow. Single stories mixed with 2 stories along a broad canopy of tree line street is nice. The most important feature is just a short stone throw away from 4 stars yelp rated dim sum restaurants. It is literally close to everything.

14 offers, in pending status.. i guess when its southpas or san marino, spend a fortune to purchase and then a fortune to fix..

Did someone see this house? Is it nicely upgraded? This house may be auctioned tomorrow.

 

[Crispy3]

Drove by there today. The blocks are short and the lot rhythm is all custom where there are no two lots the same width. Some homes have broad frontage while some are narrow. Single stories mixed with 2 stories along a broad canopy of tree line street is nice. The most important feature is just a short stone throw away from 4 stars yelp rated dim sum restaurants. It is literally close to everything.

14 offers, in pending status.. i guess when its southpas or san marino, spend a fortune to purchase and then a fortune to fix..

Did someone see this house? Is it nicely upgraded? This house may be auctioned tomorrow.

flipper, if you mean the one in South Pasadena then yes I've seen it.. If you are thinking about flipping it I would stay away, I don't know if you have ever dealt with the city of SoPas but it is not easy to make any modifications (very similar to the city of San Marino)

 

[flipper]

Drove by there today. The blocks are short and the lot rhythm is all custom where there are no two lots the same width. Some homes have broad frontage while some are narrow. Single stories mixed with 2 stories along a broad canopy of tree line street is nice. The most important feature is just a short stone throw away from 4 stars yelp rated dim sum restaurants. It is literally close to everything.

14 offers, in pending status.. i guess when its southpas or san marino, spend a fortune to purchase and then a fortune to fix..

Did someone see this house? Is it nicely upgraded? This house may be auctioned tomorrow.

flipper, if you mean the one in South Pasadena then yes I've seen it.. If you are thinking about flipping it I would stay away, I don't know if you have ever dealt with the city of SoPas but it is not easy to make any modifications (very similar to the city of San Marino)

I mean 67 Copper Leaf in Irvine. The listing only shows one picture of the outside of the house.

 

[irvinehomeshopper]

Crispy, You are right. This is why Temple. City, San Gabriel, and Alhambra are lowered value because of predator flippers when the cities have lower architectural guideline standards.

 

[Crispy3]

Crispy, You are right. This is why Temple. City, San Gabriel, and Alhambra are lowered value because of predator flippers when the cities have lower architectural guideline standards.

I think they are also lower cause of the crappy schools in the area... what's interesting is that El Monte is also very strict, every transaction needs to be inspected by the city and all unpermitted additions needs to be reverted. I own a couple of duplexes in El Monte and had to do some major work to get the certificate of compliance.