Quail Hill aka Sitting Ducks?

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Priced_Out_IT_Guy_IHB

Priced_Out_IT_Guy_IHB

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Is much activity going on in Quail Hill? Redfin shows 47 properties on the MLS in QH but no sales in the last 3 months--which must be in error. However, looking at the still unaffordable prices, I wouldn't be too surprised if nothing is moving.



Here's a 2bed/3bath that has been reduced 25% from the 2006 purchase price and still hasn't sold:



<a href="http://www.redfin.com/CA/Irvine/47-Flowerbud-92603/home/5947373"> 47 Flowerbud</a>



Here's a stubborn seller, lowering their asking just below the equity burn level. The price has been dropped 60K in 8 months:



<a href="http://www.redfin.com/CA/Irvine/9-Tall-Oak-92603/home/5979822">9 Tall Oak</a>



And my favorite, the "extremely motivated seller" who's property has been on the MLS for <strong>457</strong> days and only dropped the price a few bucks below the 2004 purchase price.



<a href="http://www.redfin.com/CA/Irvine/410-Quail-Rdg-92603/home/5953587">410 Quail Ridge</a>



Listing Price History

Date Price

Jun 02, 2007 $565,000

Aug 08, 2007 $555,000

Sep 21, 2007 $499,000

Mar 29, 2008 $479,000

Apr 21, 2008 $475,000
 
[quote author="Priced_Out_IT_Guy" date=1220355894]Is much activity going on in Quail Hill? Redfin shows 47 properties on the MLS in QH but no sales in the last 3 months--which must be in error. However, looking at the still unaffordable prices, I wouldn't be too surprised if nothing is moving.



Here's a 2bed/3bath that has been reduced 25% from the 2006 purchase price and still hasn't sold:



<a href="http://www.redfin.com/CA/Irvine/47-Flowerbud-92603/home/5947373"> 47 Flowerbud</a>



Here's a stubborn seller, lowering their asking just below the equity burn level. The price has been dropped 60K in 8 months:



<a href="http://www.redfin.com/CA/Irvine/9-Tall-Oak-92603/home/5979822">9 Tall Oak</a>



And my favorite, the "extremely motivated seller" who's property has been on the MLS for <strong>457</strong> days and only dropped the price a few bucks below the 2004 purchase price.



<a href="http://www.redfin.com/CA/Irvine/410-Quail-Rdg-92603/home/5953587">410 Quail Ridge</a>



Listing Price History

Date Price

Jun 02, 2007 $565,000

Aug 08, 2007 $555,000

Sep 21, 2007 $499,000

Mar 29, 2008 $479,000

Apr 21, 2008 $475,000</blockquote>


My data shows 30 closed sales in Quail Hill since 6.1.08. 40 Active listings, 7 in back-up offers and around 9 sales pending.
 
30!? Closed sales, I've been keeping an eye on this, but wow, 30 closed sales, that's quite impressive nowadays. I'd actually look a little deeper and see when they were sold.... Summer sales or just regular sales....



Otherwise I think that qual hill is being hit decently, but not slaughetered..... this 3rd/4th quarter will tell.



Good luck

-bix
 
Things are looking good in QH...prices are coming down, and things are selling....BUT expect sales to slow as the new FHA bail-out loans come up on Oct 1st. Then in February things will start selling again.
 
Check out Toddm.com



Think he's one of the top realtors in Irvine and he has all the homes he's listed/sold in Quail Hill. Gives you a good idea of pricing and what's been selling.
 
[quote author="PadreBrian" date=1220398359]Things are looking good in QH...prices are coming down, and things are selling....BUT expect sales to slow as the new FHA bail-out loans come up on Oct 1st. Then in February things will start selling again.</blockquote>


Why do you think things will pick up in Feb?
 
No opinion, but here is an interesting search

1. Go to ForeclosureRadar.com

2. Search for zip code 92603

3. Zoom in on Quail Hill

4. Look at the map

5. Click the Next > button

6. Repeat steps 3, 4 and 5 until you come to the end of the list
 
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