Turtle Ridge comp buster

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Ericg_IHB

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Check out this listing. $3.3MM and $500k below 2006 transaction price. This has no landscaping, so add $200k for that, but i'm sure its not making its neighbors at 25 ridgeview ($4.25MM and a former IHB profilee) and on Grandview happy



<a href="http://www.redfin.com/CA/Irvine/33-Ridgeview-92603/home/5928052">33 Ridgeview</a>





BTW 63 Grandview, which used to be listed at $5.2 according to the comments on 25 Ridgeview is now listed at $4.5,although the old price has been wiped from Redfin. Not a bad $700K off. Only $1M left to go before it has a chance at selling. Imagine that even if 63 grandview gets lucky and sells at $3.5MM as a comp to 33 Ridgeview, it would have had $1.7MM knocked off the asking price.
 
I don't really track multi-million dollar homes, but $500K below 2006 is just the tip of the iceberg. These homes are the last to fall, but will fall and fall hard. I agree, it will be a comp buster and an eye opener for others trying to unload their homes. Until I see $1M+ under 2006, it's still in knife catcher territory.
 
I think this house will be a nice comp buster as well. It's a 3000+ sq foot home with a nice yard and single level. Back in the hey day, these homes were asking almost $2 million.



There's no pic yet (and seems like from the description the tenant isn't cooperative), but here's the listing:

<a href="http://www.redfin.com/CA/Irvine/58-Cezanne-92603/home/5900826">http://www.redfin.com/CA/Irvine/58-Cezanne-92603/home/5900826</a>
 
The clock is ticking for 33 Ridgeview. It looks like those rich foreigners really are not that rich, when they can't make their mortgage payment.
 
[quote author="JoonB" date=1214264021]I think this house will be a nice comp buster as well. It's a 3000+ sq foot home with a nice yard and single level. Back in the hey day, these homes were asking almost $2 million.



There's no pic yet (and seems like from the description the tenant isn't cooperative), but here's the listing:

<a href="http://www.redfin.com/CA/Irvine/58-Cezanne-92603/home/5900826">http://www.redfin.com/CA/Irvine/58-Cezanne-92603/home/5900826</a></blockquote>


Last sale and tax info

Sold 04/09/2004: $1,262,500

2007 Property Tax: $18,670



Asking price is more than 5%/yr appreciation since April '04 purchase. If the sellers get their asking price, seems like it's not a bad deal for them.
 
[quote author="stepping_up" date=1214278533][quote author="JoonB" date=1214264021]I think this house will be a nice comp buster as well. It's a 3000+ sq foot home with a nice yard and single level. Back in the hey day, these homes were asking almost $2 million.



There's no pic yet (and seems like from the description the tenant isn't cooperative), but here's the listing:

<a href="http://www.redfin.com/CA/Irvine/58-Cezanne-92603/home/5900826">http://www.redfin.com/CA/Irvine/58-Cezanne-92603/home/5900826</a></blockquote>


Last sale and tax info

Sold 04/09/2004: $1,262,500

2007 Property Tax: $18,670



Asking price is more than 5%/yr appreciation since April '04 purchase. If the sellers get their asking price, seems like it's not a bad deal for them.</blockquote>


Thats not even the view side of the street either.....
 
Sheesh... I didn't realize that 25 Ridgeview was in a race with the bank too. For 33's sake, 25 better not go back to the bank tomorrow for the $3.1mil minimum bid they want. Huh... I thought that the high end was immune.
 
46 crimson is now for sale $1,199,999 down from $1.399,999. Original list price is $1,550,000. Irvine is not immune!



46 Crimson Rose

Irvine, CA 92603

Price: $1,199,999

Beds: 3

Baths: 4

Sq. Ft.: 2,863

$/Sq. Ft.: $419

Lot Size: 7,500 Sq. Ft.

Property Type: Single Family Residence

Style: Contemporary, Spanish

Year Built: 2005

Stories: 2 Levels

View: Hills

Area: Turtle Ridge

County: Orange

MLS#: S514390

Source: SoCalMLS

Status: Active

On Redfin: 327 days





<a href="http://www.redfin.com/CA/Irvine/46-Crimson-Rose-92603/home/5901235">http://www.redfin.com/CA/Irvine/46-Crimson-Rose-92603/home/5901235</a>



5 Shade Tree

Irvine, CA 92603

Price: $1,180,000

Beds: 4

Baths: 3

Sq. Ft.: 2,700

$/Sq. Ft.: $437

Lot Size: -

Property Type: Condominium

Style: Tuscan

Year Built: 2003

Stories: 2 Levels

Floor: 1

View: Hills, Treetop

Area: Turtle Ridge

County: Orange

MLS#: S537971

Source: SoCalMLS

Status: Active

On Redfin: 122 days



5 shade tree is now $1180,000. Down from $1,340,000.





<a href="http://www.redfin.com/CA/Irvine/5-Shade-Tree-92603/home/5943353">http://www.redfin.com/CA/Irvine/5-Shade-Tree-92603/home/5943353</a>
 
46 Crimson Rose is scheduled to be sold at a Trustee's Sale on Nov 4. The sale amount is $1.489m.





Address: 46 CRIMSON ROSE IRVINE CA



City: IRVINE

State: CA

Zip: 92603

County: Orange

APN: 478-381-59

Sale Status: Sale Date 11/04/2008

TS Number: CA08175390ED

Notice of Sale Amt: $1,489,914.81

Opening Bid Amt: 0

Sold Amt: 0

Sale Location: At the North front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana, CA.



Trustee: Quality Loan Service Corporation

Trustee Phone#: (619)685-4800
 
[quote author="GavriloPrincip" date=1225089504]46 Crimson Rose is scheduled to be sold at a Trustee's Sale on Nov 4. The sale amount is $1.489m.





Address: 46 CRIMSON ROSE IRVINE CA



City: IRVINE

State: CA

Zip: 92603

County: Orange

APN: 478-381-59

Sale Status: Sale Date 11/04/2008

TS Number: CA08175390ED

Notice of Sale Amt: $1,489,914.81

Opening Bid Amt: 0

Sold Amt: 0

Sale Location: At the North front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana, CA.



Trustee: Quality Loan Service Corporation

Trustee Phone#: (619)685-4800</blockquote>


Strange, listing last change

Listing Agent

David Cannon

Coldwell BankerListing last changed

October 24, 2008, 2:28 PM
 
[quote author="WestparkRenter" date=1225091061]

Strange, listing last change

Listing Agent

David Cannon

Coldwell BankerListing last changed

October 24, 2008, 2:28 PM</blockquote>


"Listing last changed" refers to the last time agent made a change in the listing materially (not just photo rotation or change in copy).

For this one the change refers to the price change to $1,199,999 down from $1,399,999.

Could also refer to moving into/out of escrow, change in status, etc.
 
<A href="http://www.redfin.com/CA/Irvine/20-Rose-Trellis-92603/home/5901098">http://www.redfin.com/CA/Irvine/20-Rose-Trellis-92603/home/5901098</A>



20 Rose Trellis

Irvine, CA 92603

Price: $1,200,000

BEDS: 4

BATHS: 4

SQ. FT.: 3,400

$/SQ. FT.: $353

LOT SIZE: 6,252 Sq. Ft.

PROPERTY TYPE: Single Family Residence

STYLE: Contemporary

STORIES: 2

VIEW: Hills

YEAR BUILT: 2004

COMMUNITY: Turtle Ridge

COUNTY: Orange

MLS#: S583253

SOURCE: SoCalMLS

STATUS: Active

ON REDFIN: 41 days

Affordable and expanded 4 bedroom 3.5 bath Ledges homes with Approximately 3400 sq feet of elegance behind the guarded gates of the Prestigeous Summit at Turtle Ridge. Huge master suite up stairs. Extra large Gourmet kitchen with a sunny breakfast room.State of the art stainless steel appliances.Oversized family room with fire place,large formal dining room,Living room . 2 bedroom and 1.5 bath down and 2 bedroom Suites upstairs.No Casitas.Beautiful courtyard. Fabulous resort like association facilities with club house Theater,Gym ,Pool nad spa.Peaceful Walking Trails throughout the neighborhood.



Dec 09, 2004 Sold $1,381,000 -- Public Records
 
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