Multiple owners in short span for property history

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VET_RIC_HAM

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hi I'm currently shopping for a home in the Woodbury area and found one I liked and submitted an offer. I was just wondering because something that struck me as odd, the place has had about 4 different owners since 2006. Usually something within the past decade has only had 1 or 2 previous owners. do you think this has an bearing on if this place has good or bad chi? Most previous owners had not stayed longer than 3 years.
 
VET_RIC_HAM said:
hi I'm currently shopping for a home in the Woodbury area and found one I liked and submitted an offer. I was just wondering because something that struck me as odd, the place has had about 4 different owners since 2006. Usually something within the past decade has only had 1 or 2 previous owners. do you think this has an bearing on if this place has good or bad chi? Most previous owners had not stayed longer than 3 years.
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Do you honestly think that you can get a rational answer to this questions?
 
Irvine Dream said:
VET_RIC_HAM said:
hi I'm currently shopping for a home in the Woodbury area and found one I liked and submitted an offer. I was just wondering because something that struck me as odd, the place has had about 4 different owners since 2006. Usually something within the past decade has only had 1 or 2 previous owners. do you think this has an bearing on if this place has good or bad chi? Most previous owners had not stayed longer than 3 years.
Click to expand...
Do you honestly think that you can get a rational answer to this questions?
Click to expand...

lol no, just wanted to hear opinions
 
Yes the Chi must be really bad.

Ringu.jpg
 
A few reasons for turnover I can think of, which may or may not apply in your case, depending on the type of property

1. starter home or condo--people outgrow very fast? e.g. young couple buys a starter home, want to move when they have kids
2. noise issues from neighbors, especially if attached product
3. nuisance nearby? e.g. busy street traffic, lack of parking, etc etc.
4. investors who are flipping to take profit? or maybe renting it out wasn't as good of a return on their money as they anticipated and they want to get out?
5. owners were trying to run an illegal AirBnB or maternity hotel which got shut down, now need to sell?  ;)
 
Whenever I see that, it makes me think there was something bad about the home or location that wasn't realized until the purchase was made. 

Could be anything but I'd think twice about it.
 
In the woodbury area, that is so common
I found one I was a fan of and saw multiple sells within a few years too

I believe people who move there like the area and submit an offer, and only after the mortgage settles do they realize how much the total payment is to live in such a small home.  They don't factor in the mello roos and the high HOA's in woodbury. 

If you look closely, most of them took a loss to sell the home when you factor in real estate commissions.  Most woodbury homes are built really close in a small 6 plex garden style. so they sell it as detached but it's not free standing or anything close to a driveway
 
VET_RIC_HAM said:
hi I'm currently shopping for a home in the Woodbury area and found one I liked and submitted an offer. I was just wondering because something that struck me as odd, the place has had about 4 different owners since 2006. Usually something within the past decade has only had 1 or 2 previous owners. do you think this has an bearing on if this place has good or bad chi? Most previous owners had not stayed longer than 3 years.
Click to expand...

Market peaked out when WB was selling. If someone bought and was foreclosed on or had to sell there is two sales right there. If it was a foreclosure then the bank sells it to an investor who has since cashed out. Boom........ four sales with nothing really wrong with the property.

I think WB used to go to Irvine High and some wanted to go to Northwood so they moved for that reason.
 
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