Shady Canyon

NEW -> Contingent Buyer Assistance Program
[quote author="sell4u" date=1228789022]25 Blue Heron scheduled for auction - 12/16 12pm 700 W. Civic Center Dr. (unless its postponed)

Any insiders know if this is the first home going to auction in Shady Canyon?</blockquote>


So, did this get postponed?
 
[quote author="awgee" date=1229646444][quote author="sell4u" date=1228789022]25 Blue Heron scheduled for auction - 12/16 12pm 700 W. Civic Center Dr. (unless its postponed)

Any insiders know if this is the first home going to auction in Shady Canyon?</blockquote>


So, did this get postponed?</blockquote>


but of course - new date 1/13/09
 
When you say "sinking", do you think it's a problem with that entire hill or just the foundation of that particular house?



That reminds me of one house I went to in Shady Canyon where you had to walk down steep steps to enter through the front door. It felt like the entire house was underground and had a terrible claustrophobic feel.
 
[quote author="ABC123" date=1229669302]When you say "sinking", do you think it's a problem with that entire hill or just the foundation of that particular house?



That reminds me of one house I went to in Shady Canyon where you had to walk down steep steps to enter through the front door. It felt like the entire house was underground and had a terrible claustrophobic feel.</blockquote>


Was that <a href="http://www.redfin.com/CA/Irvine/24-Well-Spg-92603/home/5929700">24 Wellspring</a>?
 
It was back in the summer, so I don't remember. I just recall that the house was orange, like the realtor's car parked out front and it seemed like I was walking into a cave.
 
[quote author="ABC123" date=1229673010]It was back in the summer, so I don't remember. I just recall that the house was orange, like the realtor's car parked out front and it seemed like I was walking into a cave.</blockquote>


I think it is just the foundation on 25 Blue Heron that is the problem, but don't quote me!



Yes, you're describing 24 Wellspring. The entrance is odd - you step down a flight of stairs to the front door. But the house is really open in the rear and has a nice patio area and that makes up for it in my opinion. The kitchen and main living areas are nice - but that carpeted stairway has got to go! The seller finally lowered the price to under $5,300,000, but it is still about a million dollars over what it should be.
 
[quote author="Zulu" date=1229695110][quote author="ABC123" date=1229673010]It was back in the summer, so I don't remember. I just recall that the house was orange, like the realtor's car parked out front and it seemed like I was walking into a cave.</blockquote>


I think it is just the foundation on 25 Blue Heron that is the problem, but don't quote me!



Yes, you're describing 24 Wellspring. The entrance is odd - you step down a flight of stairs to the front door. But the house is really open in the rear and has a nice patio area and that makes up for it in my opinion. The kitchen and main living areas are nice - but that carpeted stairway has got to go! The seller finally lowered the price to under $5,300,000, but it is still about a million dollars over what it should be.</blockquote>


I didn't like the lack of privacy in the backyard. Since it is on a slope, the neighbor to the north had a complete view of the backyard and privacy and space would be the primary factor for moving to Shady no? Other than that I really liked the home.
 
[quote author="EquityMind" date=1229733467]<a href="http://www.redfin.com/CA/Irvine/66-Golden-Eagle-92603/home/5855871">66 Golden Eagle</a> just had a $1.7MM haircut today.</blockquote>


hair cuts are pointless if the home was never priced right from the get-go. and most listings in shady canyon have been originally listed at prices so far above market value, they need half a dozen hair cuts, and chase down the market at the same time



i laugh when agents take listings so over priced and feel the need to SCREAM IN ALL CAPS PRICE REDUCTION
 
So how do you determine 'market price' for properties like this? Comps? Or land value + construction value at the current time? Seems tricky because these types of properties are so specialized.
 
[quote author="25w100k+" date=1229744485]So how do you determine 'market price' for properties like this? Comps? Or land value + construction value at the current time? Seems tricky because these types of properties are so specialized.</blockquote>


Market price is whatever someone pays for it. Until then, it is all conjecture and speculation.



If you buy it at auction on the courthouse steps, that is market price. Be very wary of anyone who tries to tell you what "market price" is or what a home is worth or what it should sell for, when you are looking for a home. It is only worth what someone will pay. They can tell you what comparative homes have sold for, but so what?
 
Here's the last 3 sales I show according to the MLS (all 3 are customs)



24 Cactus, $0 is displayed in the sale price. 12/12/08 (wait for the supplemental tax bill to post on the OC assessors website and that's basically the sale price) The price it was offered before it went into escrow was $7.4m. Offered as high as $9.0m on 7/2006 when first listed. I visited this home. Quality materials used. This was a Rob Glass home, his quality from the homes I've seen are around a B+, he does a good job. Better than most in Shady Canyon.



95 Canyon Creek. $5.2m 11/14/08. Says the home was 7,768 estimated according to MLS. That puts $/Sq.Ft. at $677. Did not visit this home.



47 Canyon Creek. $5.3m 11/25/08. $680p/sq.ft. Did not visit this home.







The buyer on 24 Cactus most likely was aware of the other two $/Sq.Ft's, so if one **guesses*** that the buyer bought 24 Cactus for $6.5m, that's $684p/sq.ft. I'm probably not too far off on that number, I'll have to wait for the supplemental tax bill to spill the beans.
 
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