Tustin Field Rollback/Comp Killer - $375,000 Loss??

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irvinerepublic_IHB

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<p>I know this is officially a Tustin listing, but check out this rollback: MLS id# S508240</p>

<p>Redfin shows last sale at $1,300,000 on 8-11-06</p>
 
<p>Here's the Redfin URL: <a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1192792">http://www.redfin.com/stingray/do/printable-listing?listing-id=1192792</a></p>

<p>Apperars to be in IUSD per their school finding tool which lists</p>

<p><strong>1470 Voyager Dr</strong> is assigned to the following schools:











<u>Elementary school</u>


Stone Creek Elementary


2 Stone Creek So


Phone: 949-936-6200











<u>Middle school</u>


Lakeside Middle


3 Lemongrass


Phone: 949-936-6100











<u>High school</u>


Irvine High


4321 Walnut Av


Phone: 949-936-7000







</p>
 
It's on a pretty big lot (9000sq ft). One thing I've noticed about Tustin Fields are the narrow streets and lots of cars parked on those streets. It just feels more packed in than typical TIC communities.
 
i think this might a triangle lot sits at the the edge of a plot. It might on a corner, but It is not really a typical corner lot. Triangle lot means very bad feng shui. BK is a one of those likely end results on those lots according to my limited feng shui knowledge.
 
<p>I don't think I would want Train Noise for over a million Dollars. Not to mention that area will be under construction for the next 10 to 15 years. I think for my million I will move to the Beach or the Tustin Foothills. </p>

<p>I agree about the traffic as well. I think I looked at these and they are in the Irvine School district. Between Melo Roos and Association it is about another 800 per month on top of the Mortgage.</p>

<p> </p>
 
Does anyone know if this is a short sale ? I can't imagine the owner willing to loose $375K in one year. Anyone know what kind of loan the owner has ?
 
<p>Looks like this place is just around the corner, for $1.09 Million. <a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1135311">http://www.redfin.com/stingray/do/printable-listing?listing-id=1135311</a></p>

<p>Maybe they are facing competition from the builder who is dumping inventory?</p>

<p>Edited to add: I zoomed in on that area in the Redfin map, and there is a lot of competition in the same price range. The whole tract is taking a nosedive in value.</p>
 
As I mentioned in my previous posts, even before the air starting to let out from the bubble, market never priced Tustin field as an irvine community. There is a reason why $/ sq ft was lower, and continue to be lower. I guess is that market will drive that area to the Tustin comps...
 
Yeah, I saw that rollback as well...





After further investigation, just some observations I made





1) Redfin doesn't map this property correctly. Use google maps to see where it is located





2) I counted 7 houses for sale in Tustin Field just on VOYAGER street alone!! Something must be up. See other discussion talking about low-income housing neighbors, the train, etc.





May not be worth it... even at that price.
 
<p>ive lived on the opposite side of the tracks in college park for a year. living on blackthorn, our backyard fence bordered the storm drain. let me just say that if you're not used to it, the trains are LOUD. the 10 or so commuter trains that go buy during the day are not an issue, but a couple freight trains per day (some at 3 or 4am in the morning) actually shake the houses. the first few nights i lived in that house, my roommates and i all woke up thinking we were having an earthquake. also, since the tracks cross harvard, the trains usually blare their horns to warn the cars. </p>

<p>eventually i got used to the trains and the house we were renting had double pane windows, so that helped (only a little!). i wouldnt buy within a few blocks of those tracks. if you do consider it, you really need to experience how loud the freight trains are when they pass by. </p>
 
i just google mapped the address. i guess the trains wouldn't be as much of an issue, but if the house were any closer, i would probably stay away.
 
I went to checkout the location of this house. It's on the corner of Moffett/Harvard. You can see and hear the traffic from Harvard and hear the powerlines at nite time. I'm surprise anyone ever bought this house for 1.3 million. Maybe at 800K it would be a good deal.
 
I once lived in a home with a big yard backing to a major street. The closed windows at night, the unsecure feel, etc is not worth it. I'd buy it for 400k.
 
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