What's going into escrow - Irvine and maybe some Tustin too

NEW -> Contingent Buyer Assistance Program
[quote author="lendingmaestro" date=1208521278]When we go to the beach in 20 years there's gonna be an awful lot of saggy, wrinkly tramp stamps!</blockquote>


That reminds me... I was trying to stay away from this love affair that Ten and Ipop have going on here, but it seems like a full blown snark orgy now with everyone else joining in. I <em>almost</em> started to feel left out.



So... Tenmagnet seems to think he gets the girls like the one he posted about, and he thought he went home to this...



http://www.thedirty.com/wp-content/uploads/2008/04/ditra3dhe333.jpg



But, after ten too many Jaeger bombs, he woke up to this...



http://www.thedirty.com/wp-content/uploads/2008/04/ditraererjert.jpg

<a href="http://www.thedirty.com/?p=20473">Hell, he even told thedirty.com about it!</a>
 
[quote author="graphrix" date=1208525293][quote author="lendingmaestro" date=1208521278]When we go to the beach in 20 years there's gonna be an awful lot of saggy, wrinkly tramp stamps!</blockquote>


That reminds me... I was trying to stay away from this love affair that Ten and Ipop have going on here, but it seems like a full blown snark orgy now with everyone else joining in. I <em>almost</em> started to feel left out.



So... Tenmagnet seems to think he gets the girls like the one he posted about, and he thought he went home to this...



http://www.thedirty.com/wp-content/uploads/2008/04/ditra3dhe333.jpg



But, after ten too many Jaeger bombs, he woke up to this...



http://www.thedirty.com/wp-content/uploads/2008/04/ditraererjert.jpg

<a href="http://www.thedirty.com/?p=20473">Hell, he even told thedirty.com about it!</a></blockquote>


That?s gold!



Stop trying to be cool by posting pics of your twin sister.

She?s become overly-sensitive since I told her she?s too old for Girls Gone Wild.

BTW, she also wants her stilettos, diamond anklet, and Capri pants back.

Graph, she?s concerned about all those late nights you?re spending at Man Hole.
 
1 New Dawn is gone ten. It flipped to pending sale. Boo hoo hoo, I'm going to miss watching it...



Given that they paid $1.075M in 2002, anything less than $1.79M would be a deeper rollback than average. If they took south of $1.6M, it'll mean an early '04 price.
 
[quote author="ipoplaya" date=1208556360]1 New Dawn is gone ten. It flipped to pending sale. Boo hoo hoo, I'm going to miss watching it...



Given that they paid $1.075M in 2002, anything less than $1.79M would be a deeper rollback than average. If they took south of $1.6M, it'll mean an early '04 price.</blockquote>


Wow, didn?t expect to see 1 New Dawn get taken down.

That?s a beautiful and lovely home.

Rosecrest is one of my favorite communities.

Let?s face it, even at an ?04 roll back of $1.6M.

That?s still a lot of scratch.

Given all the doom and gloom, the high-end continues to hold up.

People are buying, at least, the high-end in Northpark and the Pointe.



BTW, didn't see it on your site earlier.

Did you just update it?
 
19 Walnut Creek and 8 Sunnyvale seem to be competing neck and neck.

So, what?s up with 23 Torrey Pine

Didn?t you and IRealtor go take a look at it yesterday, care to share any juicy details?
 
Naw, we were going to go check out a much less worthy place on Mountainbrook in NW Pointe. They dropped from $1.2M to $950K but I decided against it. Evidently they have people renting rooms and sometimes you can't see the rooms since the tenants lock them up. They also received a NOD, so that means they aren't paying the mortgage while they are collecting this rent. Don't want to mess around with all that crap... Will see it maybe once it goes back to the bank although I'm not a big fan of the exterior. Location is great though.



Not seen Torrey yet. Will wait until they drop down below $1M first. At $999K list, that'll be my ticket to check it out. Place is probably only worth low $900s...
 
[quote author="ipoplaya" date=1208561150]Naw, we were going to go check out a much less worthy place on Mountainbrook in NW Pointe. They dropped from $1.2M to $950K but I decided against it. Evidently they have people renting rooms and sometimes you can't see the rooms since the tenants lock them up. They also received a NOD, so that means they aren't paying the mortgage while they are collecting this rent. Don't want to mess around with all that crap... Will see it maybe once it goes back to the bank although I'm not a big fan of the exterior. Location is great though.



Not seen Torrey yet. Will wait until they drop down below $1M first. At $999K list, that'll be my ticket to check it out. Place is probably only worth low $900s...</blockquote>


Agree, very nice location.

The outside looks good as well, like the brick.

No pictures of the inside so you may be right about renters.

At least they?ve priced it aggressively dropping it from $1.2M to $950K

Is this a short sale?

Reminds me of 53 Legacy Way

Although this house + location is an upgrade
 
Couple of more recent closes to report. I think the April sample is probably large enough to declare that prices have fallen considerable between March and April, which is more likely between January/February and February/March since escrows take 30-45 days to close... <a href="http://www.ipoplaya.com/iposhiller.pdf">Looks like we could have another 3+% decline </a>when April Case-Shiller figures come out.



I think that there were a number of fence-sitting buyers that came out in January and February, maybe motivated by the drop in mortgage rates in late January and REO pricing that got more aggressive in the new year. As rates trended up through most of February, it appears buyers demanded additional discounting. It will be interesting to see what if anything the drop and flattening of mortgage rates during March and into early/mid April will do to prices...
 
I located five new places hitting escrow over the weekend. The lovely faux French chateau in NP on Mar Vista got taken down in less than three weeks... One in QH that looks scary. $1.055M list on 2500sf and it got into escrow in less than two weeks? What kind of craziness is that? I thought this market sucked?!!
 
[quote author="ipoplaya" date=1208777606]I located five new places hitting escrow over the weekend. The lovely faux French chateau in NP on Mar Vista got taken down in less than three weeks... One in QH that looks scary. $1.055M list on 2500sf and it got into escrow in less than two weeks? What kind of craziness is that? I thought this market sucked?!!</blockquote>


there are always buyers especially in high demanded area like irvine or newport beach.
 
[quote author="irvinehomeowner" date=1208777876][quote author="ipoplaya" date=1208777606]I located five new places hitting escrow over the weekend. The lovely faux French chateau in NP on Mar Vista got taken down in less than three weeks... One in QH that looks scary. $1.055M list on 2500sf and it got into escrow in less than two weeks? What kind of craziness is that? I thought this market sucked?!!</blockquote>


there are always buyers especially in high demanded area like irvine or newport beach.</blockquote>


Yup, and they were foreign investors taking advantage of the falling dollar. I know this, because my Realtor told me so.



/snarkiness over



Dude, irvinehomeowner, use the search function, and slowly step away from the Kool-Aid powder. Better yet, use the search function for <a href="http://www.irvinehousingblog.com/forums/search_results/fdff509a4de079d2758be3585d1c7554/">posts by nirvinerealtor</a>, and see how the Kool-Aid is bad um...kay. Hell, even ipoplaya has cut back on the Kool-Aid, and you should too.



Don't worry though, I am sure there are plenty of foreign investors, people who love high demand areas, and people who do not know what google is, that will buy your house at your inflated value.



BTW, I am a homeowner, 3rd generation California investment property owner, and someone with a <em>little</em> common sense. Sure, Nude's avatar (gotta spell that avatar thing correctly), could be offensive. But, if you use the search function, it may not seem so bad.



Welcome to the reality blog/forums, and sorry if it is too doom/nude and gloom for you. If you don't like it, then try to get a HELOC to fix it, and we will still be here to tell you why you can't.
 
14 Mar Vista is sweet, knew it wouldn?t last long.

Was surprised to see it get taken down so fast though.

Even in a tough market, quality sells and this one was definitely quality.

Only drawback for me was the lack of size.

Ipop, you should?ve made a run at this one.

Maybe, the price was too high but much better than Sunnyvale.
 
[quote author="ipoplaya" date=1208581333] I think that there were a number of fence-sitting buyers that came out in January and February, maybe motivated by the drop in mortgage rates in late January and REO pricing that got more aggressive in the new year. </blockquote>


There must have been...Steve Thomas said so as well :)
 
[quote author="tenmagnet" date=1208816806]14 Mar Vista is sweet, knew it wouldn?t last long.

Was surprised to see it get taken down so fast though.

Even in a tough market, quality sells and this one was definitely quality.

Only drawback for me was the lack of size.

Ipop, you should?ve made a run at this one.

Maybe, the price was too high but much better than Sunnyvale.</blockquote>


You know me man, hater of traffic noise, so anything that backs up to a significant street is a no-no. That house would have to be $800K to get me to live on Culver. I drove that stretch of Culver 3-4 times yesterday, no slower than 50-60mph every time. I am much more keen on interior locations.
 
[quote author="ipoplaya" date=1208818838][quote author="tenmagnet" date=1208816806]14 Mar Vista is sweet, knew it wouldn?t last long.

Was surprised to see it get taken down so fast though.

Even in a tough market, quality sells and this one was definitely quality.

Only drawback for me was the lack of size.

Ipop, you should?ve made a run at this one.

Maybe, the price was too high but much better than Sunnyvale.</blockquote>


You know me man, hater of traffic noise, so anything that backs up to a significant street is a no-no. That house would have to be $800K to get me to live on Culver. I drove that stretch of Culver 3-4 times yesterday, no slower than 50-60mph every time. I am much more keen on interior locations.</blockquote>


You?re kidding right?

Either that or you?ve completely lost your mind.

You considered or made a $950K offer on Sunnyvale,

but you think Mar Vista is worth $800K

Mar Vista got taken down fast because it?s a quality/ trophy house.

The 8 & 16 Sunnyvale are still withering away, can?t even attract a fly.

Mar Vista is much better, and you know it.
 
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