New listing - 93 Cape Victoria in Aliso Viejo

NEW -> Contingent Buyer Assistance Program
It's been a nice steady flow of folks coming by to the open house both days.  There were two TI lurkers that came by and said hello as well.
 
Looks like two more offers trickled in this evening.  Sellers have decided to give everyone a fair chance by asking for everyone's highest and best offer.
 
This is the first time I've seen someone use a message board to communicate the offer status.  I think it's great.
 
zubs said:
This is the first time I've seen someone use a message board to communicate the offer status.  I think it's great.
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I did the same thing when I sold my condo back in 2008 on IHB and figured the folks on here would enjoy a play-by-play summary from the listing side. 
 
All 5 best and final counter offers are in...4 out of the 5 buyers went higher than their initial offer while one went lower.  Now it's time to meet with my clients this evening and pick the winner.
 
Soylent Green Is People said:
"one went lower".... Wonder what it must be like to be that buyers Realtor.  ::)
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The realtor actually called me right after he sent it to go over it, I could sense he felt bad sending it and kinda knew that would put them out of the running.  The buyers were near the top of their price limit and needed some parent gift funds to put down 20%.  The top buyers are putting down some big down payments. 
 
USCTrojanCPA said:
All 5 best and final counter offers are in...4 out of the 5 buyers went higher than their initial offer while one went lower.  Now it's time to meet with my clients this evening and pick the winner.
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I'm surprised there are still 5 on the table. The first 2 were received nearly a week ago. Were there no deadlines on those offers? How do you know they haven't walked by now? When I submit, I like to put a little flame under the butt. I believe I gave my seller 24 hours last time and same the house purchase before that.
 
SoCal said:
USCTrojanCPA said:
All 5 best and final counter offers are in...4 out of the 5 buyers went higher than their initial offer while one went lower.  Now it's time to meet with my clients this evening and pick the winner.
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I'm surprised there are still 5 on the table. The first 2 were received nearly a week ago. Were there no deadlines on those offers? How do you know they haven't walked by now? When I submit, I like to put a little flame under the butt.
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The first 3 offers were received Friday evening and I put in the agent comments that the sellers would not look at the offers until Tuesday because they were going out of town for the long weekend.  Then on Tuesday morning the sellers decided to send a multiple counter offer for the buyer's best and final offer price back to all the buyers to give everyone a chance to put their best foot forward (my suggestion to them).  The counters were due by Thursday at 8pm.  I know what you are saying SoCal but the market is red hot right now so the seller makes the calls (100 sales in Aliso in August and there are currently 58 active listings....almost down to a 2 week supply).
 
My clients accepted an offer this morning and a very strong back up offer....status of the home has been changed to PENDING.
 
Congratulations!

Thank you for the play-by-play.

I guess the crazy times are back?  It looks like the crazy multiple bids situation is back but not necessarily the
100K over asking craziness like in the mid-2000s?  Is this because of the tighter loans and more realistic appraisals?
 
It is surprising how crazy things are getting out there again.  Kinda freaky actually.  I saw a house (same plan as mine) listed in my neighborhood recently and they are asking over $200K more than what I bought at a little over 3 years ago.

Crazy times.....
 
davenlei said:
It is surprising how crazy things are getting out there again.  Kinda freaky actually.  I saw a house (same plan as mine) listed in my neighborhood recently and they are asking over $200K more than what I bought at a little over 3 years ago.

Crazy times.....
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That's what happens when inventory levels are so low.  Looks like we'll be closing next week as the buyers are signing loan docs tonight.
 
Got confirmation from escrow that we have closed and recorded....final sales prices of $529,900 (top of the range) with no credits going either way.  Congrats to the buyer and seller. 
 
Congrats!  A few questions:

1.  What do those HOA's benefits include?  Someone once explained the AV one to me, but I didn't really get it.  What does the 1st HOA include?
2.  Do you have any of the previous sale history besides the 2010 sale listed on Redfin?  Is the link showing me your listing/redfin page or the 2010 sale page?
3.  Happen to know if that Mello Roos is going to expire?  Not to bad anyways, looks like only about 1100 a year?  Or is this considered Mello Roos too?
MOUL-NIG ID#6 BOND 0.13840 $349,017.00 $483.03
 
26inirvine said:
Congrats!  A few questions:

1.  What do those HOA's benefits include?  Someone once explained the AV one to me, but I didn't really get it.  What does the 1st HOA include?
2.  Do you have any of the previous sale history besides the 2010 sale listed on Redfin?  Is the link showing me your listing/redfin page or the 2010 sale page?
3.  Happen to know if that Mello Roos is going to expire?  Not to bad anyways, looks like only about 1100 a year?  Or is this considered Mello Roos too?
MOUL-NIG ID#6 BOND 0.13840 $349,017.00 $483.03
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Thanks...here are the answer to your questions...

1)  The first HOA of $110/mo covers the gate, street maintenance, and the landscaping (including for the front of the homes).  The second HOA of about $100 per quarter is for the city and that covers the landscape maintenance of the hillsides and of the parks and other public facilities.
2)  The property was purchased by the seller that sold to my clients for $525k back in 2008.  Then my clients bought the home for $515k in 2010 and now sold it for $530k.  It was purchased near the peak in Sept. 2005 for $685k (then short sold in 2008) and it was purchased for $435k in Oct. 2002. 
3)  I think my clients told me that the MR expires in about 10-12 years.
 
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