New Listing - Marin Plan 2 detached condo @ Eastwood (78 Meander)

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usctrojancpa

usctrojancpa

Well-known member
I listed an upgraded Marin Plan 2 detached condo in Eastwood earlier this morning on MLS. The home has over $200k in upgrades and was built in 2018 by Irvine Pacific. It features 4 spacious bedrooms and 3 full bathrooms, including a downstairs bedroom and full bathroom, along about 2,250sf of living space. The home is listed for $1,689,000.

PM or email me if you are interested in seeing it. I will be hosting open houses this weekend on Saturday, Oct. 8th and Sunday, Oct. 9th from 12-4pm.

Here is the Redfin link:
https://www.redfin.com/CA/Irvine/78-Meander-92602/home/169482450

Pictures and the virtual tour are in the link below:

https://my.matterport.com/show/?m=qE5bf7oTSEq&hl=0&play=1

If you guys are in the area, drop by to say hello.  :)
 
How come Seller is selling within a year of purchase? 
400K over the Aug 2021 closed price seems like a lot now, At the same time, 1.3M price for when it sold in Aug 2021 seems very low considering how hot the market was back then.
 
Irvinehomeseeker said:
How come Seller is selling within a year of purchase? 
400K over the Aug 2021 closed price seems like a lot now, At the same time, 1.3M price for when it sold in Aug 2021 seems very low considering how hot the market was back then.
Click to expand...

$1.3M, with little upgrades (since buyers put in a lot of upgrades) wasn't that low Aug 2021. I believe that Fresco at Eastwood was around $1.5M at that point. Housing price didn't really start taking off until Sept 2021. Old seller start listing in May 2021 and they went into contract 7/26/2021, so I would say the $1.3M was reasonable for that time.

I remember this because I started getting on the Bluffs and Highland waitlist in Sept 2021 and those homes were still in the $1.35M (Bluffs 1) to $1.55M (Highland 2) range. They are now $1.75M to $2.0M range.
 
CalBears96 said:
Irvinehomeseeker said:
How come Seller is selling within a year of purchase? 
400K over the Aug 2021 closed price seems like a lot now, At the same time, 1.3M price for when it sold in Aug 2021 seems very low considering how hot the market was back then.
Click to expand...

$1.3M, with little upgrades (since buyers put in a lot of upgrades) wasn't that low Aug 2021. I believe that Fresco at Eastwood was around $1.5M at that point. Housing price didn't really start taking off until Sept 2021. Old seller start listing in May 2021 and they went into contract 7/26/2021, so I would say the $1.3M was reasonable for that time.

I remember this because I started getting on the Bluffs and Highland waitlist in Sept 2021 and those homes were still in the $1.35M (Bluffs 1) to $1.55M (Highland 2) range. They are now $1.75M to $2.0M range.
Click to expand...
Makes sense. I regret putting my Petaluma on the Market in July 2021...should have waited 2 more months until September to have a shot at atleast 100k more. Also, should have listed with Martin! Oh well, Hindsight is always 20/20!! Never thought 2-3 months could cause prices to swing so much in RE.
 
Irvinehomeseeker said:
CalBears96 said:
Irvinehomeseeker said:
How come Seller is selling within a year of purchase? 
400K over the Aug 2021 closed price seems like a lot now, At the same time, 1.3M price for when it sold in Aug 2021 seems very low considering how hot the market was back then.
Click to expand...

$1.3M, with little upgrades (since buyers put in a lot of upgrades) wasn't that low Aug 2021. I believe that Fresco at Eastwood was around $1.5M at that point. Housing price didn't really start taking off until Sept 2021. Old seller start listing in May 2021 and they went into contract 7/26/2021, so I would say the $1.3M was reasonable for that time.

I remember this because I started getting on the Bluffs and Highland waitlist in Sept 2021 and those homes were still in the $1.35M (Bluffs 1) to $1.55M (Highland 2) range. They are now $1.75M to $2.0M range.
Click to expand...
Makes sense. I regret putting my Petaluma on the Market in July 2021...should have waited 2 more months until September to have a shot at atleast 100k more. Also, should have listed with Martin! Oh well, Hindsight is always 20/20!! Never thought 2-3 months could cause prices to swing so much in RE.
Click to expand...

When we got on the waitlist in Sept 2021, Bluffs 2 was $1.37M and when we finally got it in Dec 2021, it was $1.48M, so it did go up about $100k in 2 months. And by the time we closed escrow end of May, Bluffs 2 was selling at $1.75M (base price). That's another $270k increase after 6 more months. That's pretty much where it peaked at.
 
Irvinehomeseeker said:
How come Seller is selling within a year of purchase? 
400K over the Aug 2021 closed price seems like a lot now, At the same time, 1.3M price for when it sold in Aug 2021 seems very low considering how hot the market was back then.
Click to expand...

Seller is in contract on a larger new home so it was time to list the home for sale.  They also went through the home and made a lot of upgrades both inside and out so it's one of the nicer upgraded detached condos on the market.
 
Irvinehomeseeker said:
OCtoSV said:
$1.7M for a condo in this market with rates heading even higher? I hope you get it for them USC.
Click to expand...

At 250K more, you can get this true SFR in EW -https://www.redfin.com/CA/Irvine/109-Allenford-92620/home/167385405
Click to expand...

Maybe true but that home has basically no upgrades from the looks of it and it was a rental property up until the end of July was it was difficult to show hence why the home has lingered on the market like a dirty sock.
 
CalBears96 said:
Irvinehomeseeker said:
CalBears96 said:
Irvinehomeseeker said:
How come Seller is selling within a year of purchase? 
400K over the Aug 2021 closed price seems like a lot now, At the same time, 1.3M price for when it sold in Aug 2021 seems very low considering how hot the market was back then.
Click to expand...

$1.3M, with little upgrades (since buyers put in a lot of upgrades) wasn't that low Aug 2021. I believe that Fresco at Eastwood was around $1.5M at that point. Housing price didn't really start taking off until Sept 2021. Old seller start listing in May 2021 and they went into contract 7/26/2021, so I would say the $1.3M was reasonable for that time.

I remember this because I started getting on the Bluffs and Highland waitlist in Sept 2021 and those homes were still in the $1.35M (Bluffs 1) to $1.55M (Highland 2) range. They are now $1.75M to $2.0M range.
Click to expand...
Makes sense. I regret putting my Petaluma on the Market in July 2021...should have waited 2 more months until September to have a shot at atleast 100k more. Also, should have listed with Martin! Oh well, Hindsight is always 20/20!! Never thought 2-3 months could cause prices to swing so much in RE.
Click to expand...

When we got on the waitlist in Sept 2021, Bluffs 2 was $1.37M and when we finally got it in Dec 2021, it was $1.48M, so it did go up about $100k in 2 months. And by the time we closed escrow end of May, Bluffs 2 was selling at $1.75M (base price). That's another $270k increase after 6 more months. That's pretty much where it peaked at.
Click to expand...

Yes, prices really started talking off in Sept/Oct 2021 when inventory levels plummeted and buyer FOMO went up. 
 
OCtoSV said:
$1.7M for a condo in this market with rates heading even higher? I hope you get it for them USC.
Click to expand...
Always thought a true indicator of the market is what happens to a Martin listing. If the property sells for less that means the downturn has started. And you know LL will be all over it, which no one is looking forward to :( If the property doesn?t sell? well I don?t want to think about it!
 
DrTravel said:
OCtoSV said:
$1.7M for a condo in this market with rates heading even higher? I hope you get it for them USC.
Click to expand...
Always thought a true indicator of the market is what happens to a Martin listing. If the property sells for less that means the downturn has started. And you know LL will be all over it, which no one is looking forward to :( If the property doesn?t sell? well I don?t want to think about it!
Click to expand...

Agree. This one felt a bit overpriced to me. But what do I know. The streets of Eastwood is paved with something special 😉
 
bones said:
DrTravel said:
OCtoSV said:
$1.7M for a condo in this market with rates heading even higher? I hope you get it for them USC.
Click to expand...
Always thought a true indicator of the market is what happens to a Martin listing. If the property sells for less that means the downturn has started. And you know LL will be all over it, which no one is looking forward to :( If the property doesn?t sell? well I don?t want to think about it!
Click to expand...

Agree. This one felt a bit overpriced to me. But what do I know. The streets of Eastwood is paved with something special 😉
Click to expand...

It?s called All American Asphalt. 😎
 
OCtoSV said:
How was the open house traffic? Any offers yet?
Click to expand...

Had 18 buyers show up during both days.  A few seemed interested, including one that got outbid on Tolson.  We are getting an agent show each day which is also a good sign. 
 
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