Burn That Belly
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Mety said:Welcome back, YF!!!
Yeah, I can't stand bad photos for these expensive homes. What are they thinking? Maybe they do that on purpose?? I don't get it. They might be better off by using Google Map captures and some photos from the community website.
Burn That Belly said:Let's go over homes that have sat on the market for just way too long. Simply put, if you relocate these homes somewhere else without even changing the price, they might have sold faster. Are these homes just that undesirable? Let's find out.
287 days - 128 Yellow Pine
For $950K, what's wrong with this home in PS? It has a good price for 4 bedrooms and comes with a driveway. Last august, they even listed it at $890K but to no avail. Why is this home cursed to the bones? Back in 2016 and some part of 2017, they tried to rent it for $3400-3600/mo to no avail.
https://www.redfin.com/CA/Irvine/128-Yellow-Pne-92618/home/112721813[/quote]![]()
That 128 Yellow Pine house was sold in Aug 2014 for $740K from the builder (Ryland). $950K selling price ($500+/sqft) is way to high for that development. Should be closer to $900K.
paydawg said:Burn That Belly said:Let's go over homes that have sat on the market for just way too long. Simply put, if you relocate these homes somewhere else without even changing the price, they might have sold faster. Are these homes just that undesirable? Let's find out.
287 days - 128 Yellow Pine
For $950K, what's wrong with this home in PS? It has a good price for 4 bedrooms and comes with a driveway. Last august, they even listed it at $890K but to no avail. Why is this home cursed to the bones? Back in 2016 and some part of 2017, they tried to rent it for $3400-3600/mo to no avail.
https://www.redfin.com/CA/Irvine/128-Yellow-Pne-92618/home/112721813[/quote]![]()
That 128 Yellow Pine house was sold in Aug 2014 for $740K from the builder (Ryland). $950K selling price ($500+/sqft) is way to high for that development. Should be closer to $900K.
I will buy it if it lists at $800K and change the street name to Yellow Fever.
Burn That Belly said:Maserson said:Yellow Pine is part of the Colibri development. Not very popular floorplan, dense development. Everybody parks on the street, makes the whole neighborhood feel like an apartment complex. I know it's not completely representative but look at Google street views of Yellow Pine vs Laceflower vs Mission Bell.
They sold decently well at the time because pricing was 750k.
Nice pictures!
The most recent comp Colibri sold was 122 Yellow Pine and that sold for $990K back on march 2018, not long ago. That's only $410/sf. Real shocking low.https://www.redfin.com/CA/Irvine/122-Yellow-Pne-92618/home/112721859
That means, by appraisal standards, 124 Yellow Pine should be trading at around $410 * 1875sf = $768,750.![]()
If we are more generous, and give it another $20/sf ($430sf) the appraiser would allow: $806,250. Wow, that is quite low. I'll be extra generous and say it appraises at $450sf. That still only puts it at $843K.