usctrojancpa
Well-known member
Depending on the owner's tax situation, that profit could turn out only being a net profit of around $63k after taxes.Irvinecommuter said:USCTrojanCPA said:
Wow...maybe I should sell my place
Mendocino and Saragota in Stonegate
- Thread starter The Motor Court Company
- Start date
NEW -> Contingent Buyer Assistance Program
Previous recorded price from Redfin for a new home is little misleading. I just contracted to spend $60k of additional work on my new house on top of the closing sales price (some upgrades, conservatory, etc.) that will be recorded at Redfin. Not sure how much more upgrade and landscaping he did on top of his closing price. It looks like flooring was upgraded. Could be from a third party contractor. Overall, profit could be a lot lower overall.
The market is still hot... damn FCB's
It's interesting to see if people start turning to re-sell if and when the new homes becoming overpriced. Why buy a new one and have to wait 6 months when you can get one slightly used and fully upgraded.
I assume this is for Medocino...that's pretty insane.
I visited the sale office a few weeks back and they were already having issues selling out. They've basically hit their price limit.
BTW: That's about $150K above in Phase I.
USCTrojanCPA said:Depending on the owner's tax situation, that profit could turn out only being a net profit of around $63k after taxes.Irvinecommuter said:USCTrojanCPA said:
Wow...maybe I should sell my place
Previous recorded price from Redfin for a new home is little misleading. I just contracted to spend $60k of additional work on my new house on top of the closing sales price (some upgrades, conservatory, etc.) that will be recorded at Redfin. Not sure how much more upgrade and landscaping he did on top of his closing price. It looks like flooring was upgraded. Could be from a third party contractor. Overall, profit could be a lot lower overall.
FranchisePlr
New member
Almost taking out the real estate cost of 2.5% for buyer and seller each....
Sold already at $939k. All Cash. Looks like a FCB.
http://www.redfin.com/CA/Irvine/217-Wyndover-92620/home/51677099
FCBed on this one at LA too
http://www.redfin.com/CA/Irvine/41-Tesoro-92618/home/45378737
http://www.redfin.com/CA/Irvine/217-Wyndover-92620/home/51677099
FCBed on this one at LA too
http://www.redfin.com/CA/Irvine/41-Tesoro-92618/home/45378737
homer_simpson
Well-known member
Goriot said:
The market is still hot... damn FCB's
Irvinecommuter
New member
HOMEOWNER SIMPSON said:Goriot said:
The market is still hot... damn FCB's
It's interesting to see if people start turning to re-sell if and when the new homes becoming overpriced. Why buy a new one and have to wait 6 months when you can get one slightly used and fully upgraded.
FranchisePlr
New member
Most new builds now, at least the ones recently in the past couple of years do not have a stipulation of a no sale policy in first 12 months...
irvinehomeowner
Well-known member
I remember they used to require that and owner occupancy, but how do they enforce that after you close escrow?
Is there a contract the buyer signs with some penalty? Does the builder put a boot on your house?
Is there a contract the buyer signs with some penalty? Does the builder put a boot on your house?
FranchisePlr
New member
I spoke to IP and PP home builders recently and asked that question and they said they did not have that stipulation in their contracts.
Irvinecommuter
New member
woshi said:
I assume this is for Medocino...that's pretty insane.
Irvinecommuter
New member
broda said:Quick Move-in Home on IP's website
Saratoga, Residence 1
4/3, 1907 Sq. Ft.
Single Family Detached
$811,794.00
I visited the sale office a few weeks back and they were already having issues selling out. They've basically hit their price limit.
BTW: That's about $150K above in Phase I.
Received e-mail from Mendocino sale office about phase 35 release and looks like Mendocino is almost done. Just few more homes remain and they are ready to sell the model homes as well. I don't have the latest price for these Mendocino homes but the location of these last few homes is pretty good, they are located right along JOST and some of these home are back against a street, no neighbor in the back.
