Tustin Ranch 3CWGs finally dropping?

[irvinehomeowner]

So while other South County cities have 3CWG homes selling for below $700k (some even below $600k), Tustin Ranch is seeing some homes going lower.

In the last few months:

$720k - 3br/2.5ba, 2300sfthttp://www.redfin.com/CA/Tustin/10545-Costello-Dr-92782/home/4774231

While it's only 3br, it's a large home and the lot is almost 7000sft. We saw this at a Open House and it had a nicely upgraded kitchen and new carpet. We were really thinking about it but at the time it was range listed at $750k-769k and then went into pending shortly thereafter. Didn't think it would close so low, so we're wondering if there were some issues... it just closed yesterday so the escrow seemed longer than usual.

$615.5k - 4br/3ba, 2520sfthttp://www.redfin.com/CA/Tustin/11086-Stearns-92782/home/4774945

This was an REO (went back to the bank for $650k) and needed some work upstairs but the downstairs had nice wood flooring. Backs Jamboree and was on the market for a while but $615k for a 2500sft 4/3 on a 6000sft lot is decent.

$649k - 4br/3ba, 2284sfthttp://www.redfin.com/CA/Tustin/2855-Baxter-92782/home/4774992

This was a short sale that I kept trying to look at but the owner wasn't very accommodating  (understandable in a short sale). It bounced back and forth between pending and active a few times but finally sold last month. Also almost 6000sft and did not back Jamboree. From what I could tell from the front porch (owner wouldn't answer door), seemed like it was really dated inside but that's a really good price for the location.

To contast, the closest similar type home sale I could find in Irvine was this:

$805k - 4br/2.5ba, 2124sfthttp://www.redfin.com/CA/Irvine/7-Santa-Comba-92606/home/4628154

And the cheapest, newer 3CWG sale in Irvine I could find was this:

$760k - 4br/2.5ba, 2433sfthttp://www.redfin.com/CA/Irvine/38-Pheasant-Crk-92618/home/4746513

Again... similar homes in South County are going for mid $600k or lower but why is Irvine and Tustin Ranch still so stubborn?

 

[irvinehomeshopper]

Dude, just pull the trigger or you are going to use the traffic card again?

 

[irvinehomeowner]

Dude, just pull the trigger or you are going to use the traffic card again?

TR is closer to the freeways than North Tustin... but I wouldn't expect you to know that.

Timing and pickyness comes into play here. Don't want to make any rash moves considering this one will probably be at least a 10yr commitment... time is still on our side.

 

[irvinehomeshopper]

No hurry, you have until 2021 before the next crazy exponential price bumps. In the meantime take a ride in "It is a Small World after all".

Of course I don't know the difference. Base on my ethnicity I fear freeway. I don't measure the location to freeways. I use the carpool lane as a safety lane. I keep my speed on cruise control at 54mph and no one could cut in front to scare me.

Dude, just pull the trigger or you are going to use the traffic card again?

TR is closer to the freeways than North Tustin... but I wouldn't expect you to know that.

Timing and pickyness comes into play here. Don't want to make any rash moves considering this one will probably be at least a 10yr commitment... time is still on our side.

 

[qwerty]

Again... similar homes in South County are going for mid $600k or lower but why is Irvine and Tustin Ranch still so stubborn?

irvine/tranch are stubborn because people are still willing to pay the high prices that sellers are asking.  Cmon IHO - simple economics, step your game up.

 

[irvinehomeshopper]

If you are not willing to buy someone else will. The great migration has to cross the river full of hungry alligators. By law of nature the herd must cross there and some will be eaten so others can pass.

 

[irvinehomeowner]

Again... similar homes in South County are going for mid $600k or lower but why is Irvine and Tustin Ranch still so stubborn?

irvine/tranch are stubborn because people are still willing to pay the high prices that sellers are asking.  Cmon IHO - simple economics, step your game up.

Hehe... it was rhetorical.

Many of the Irvine haters talk about how overpriced Irvine is yet they don't want to admit there are reasons why.

You want to learn me some economics too?

 

[usctrojancpa]

Dude, just pull the trigger or you are going to use the traffic card again?

TR is closer to the freeways than North Tustin... but I wouldn't expect you to know that.

Timing and pickyness comes into play here. Don't want to make any rash moves considering this one will probably be at least a 10yr commitment... time is still on our side.

Yeah, we are all patiently waiting for you to pull the trigger but getting a bit antsy. 

 

[irvinehomeowner]

Yeah, we are all patiently waiting for you to pull the trigger but getting a bit antsy.

What's to be antsy about?

Like Aesop said: "Slow but steady wins the race."

Or as our very patient realtor, IrvineRealtor, recently told me: "The trend is your friend."

 

[usctrojancpa]

Yeah, we are all patiently waiting for you to pull the trigger but getting a bit antsy.

What's to be antsy about?

Like Aesop said: "Slow but steady wins the race."

Or as our very patient realtor, IrvineRealtor, recently told me: "The trend is your friend."[/i]

Some of us will use your purchase as an indicator of "THE BOTTOM" in the market. 

 

[irvinehomeowner]

Some of us will use your purchase as an indicator of "THE BOTTOM" in the market. 

Heh... I wouldn't recommend that.

I'm not timing the bottom... I'm timing location, affordability and floorplan availability. Prices could go lower but as long as it's in the place we want to be, we can afford it and it has the features we want... it's fine.

 

[irvinehomeshopper]

This guy in the circle has been very patient

Yeah, we are all patiently waiting for you to pull the trigger but getting a bit antsy.

What's to be antsy about?

Like Aesop said: "Slow but steady wins the race."

Or as our very patient realtor , IrvineRealtor, recently told me: "The trend is your friend."