Where to buy <$700k

NEW -> Contingent Buyer Assistance Program
Charleston pending 8/12, closed 8/21. 5 business days so likely a cash transaction.

Downsizer, FCB, or deluded flipper?

My .02c

 
USCTrojanCPA said:
spootieho said:
irvinehomeowner said:
If you don't mind Jeffrey and train noise:
https://www.redfin.com/CA/Irvine/13-Locust-92604/home/4684174
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They had an offer at 680k or something and for some reason the buyer pulled out.  They just dropped the price by $50k.  It's far enough from the train that the train noise shouldn't be a problem.  Probably not much louder than the fireworks. 

$629k for a 4 bedroom with upgrades and over 1600 sqft seems pretty good these days.
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My guess is that the offer wasn't around $680k because there wouldn't be a need to cut the listing price by that much.  Besides the proximity to the railroad tracks, the important thing to check out how much noise the home gets from Jeffrey which is a busy street.
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I know some people who bid on that house.  They were told that there were a lot of people bidding and to go $650k+.  It looks like the purchase price will be $668k.  $40k higher than the $629k list price.
 
It looks like it's come to that point.

Inventory < $650k is very slim on 3bedroom sfrs.
No HOA
No Mello Roos

I think you can build up and sell for a lot more in that neighborhood.  Not entirely sure.  It looks like one of their neighbors did that.
 
Ready2Downsize said:
Looks like someone is cashing in four properties they bought in 2013. A couple are on the low end. If he's in a hurry, maybe he'll deal.....after all his profits on the yuan/dollar thing are coming down and he might want to lock that in
https://www.redfin.com/CA/Irvine/99-Sarabande-92620/home/7216666
https://www.redfin.com/CA/Irvine/86-Great-Lawn-92620/home/7216664
https://www.redfin.com/CA/Irvine/39-Rolling-Grn-92620/home/40101198
https://www.redfin.com/CA/Irvine/22-Sanctuary-92620/home/5959290
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And then they all came off the market on the same day...... 53 Fanlight too.

 
Burn That Belly said:
Why ain't this home selling? This is like a TI winner here. Tustin Ranch, Beckman High, 2 car full drive way, nicely landscaped, detached, No MR, $50 HOA, nice back yard, 4 bedrooms, monster master room, nicely updated bathrooms, extra high ceilings, fresh paint and kitchen, another loft for study or pool table, not backing major street or freeways.  On the market over 67 days....
https://www.redfin.com/CA/Tustin/2481-San-Simon-St-92782/home/4756203
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This house has antiquated pre 2010 NHC separate living/family/dining room. People want modern open floor plan.
 
Burn That Belly said:
Happiness said:
Burn That Belly said:
Why ain't this home selling? This is like a TI winner here. Tustin Ranch, Beckman High, 2 car full drive way, nicely landscaped, detached, No MR, $50 HOA, nice back yard, 4 bedrooms, monster master room, nicely updated bathrooms, extra high ceilings, fresh paint and kitchen, another loft for study or pool table, not backing major street or freeways.  On the market over 67 days....
https://www.redfin.com/CA/Tustin/2481-San-Simon-St-92782/home/4756203
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This house has antiquated pre 2010 NHC separate living/family/dining room. People want modern open floor plan.
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So people are willing to:

1) give up a full car driveway for motorcourt
2) pay 4X to 6X higher HOA fee in Irvine
3) pay $2000-6000 more in MR per year, every year
4) pay more for little to no yard plus landscaping cost
5) give up 1 extra bedroom
6) have a smaller master bedroom
7) have no high ceilings
8.) and finally pay higher $/sqft

just to have:

1) open floor plan


Wow. TIC does a VERY GOOD job of marketing these days!

I have watched 20 episodes worth of Flip or Flop with El Moussa. It is NOT hard to GUT and make it open floor plan if that is the goal. I would say another $50 grand should be able to do it. I would also relocate the stairs to the far left of the room against the windows, remove the existing stair structure to get more open space, and then seal around the loft but maintain the loft wall. Then break down that kitchen wall which separates the living room from the kitchen. Done! Open floor plan!
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Don't forget one more feature of this house:  It's priced at $888,000!!  That could bring GOOD luck!!
 
Tustin does not equal $467/sf value.  $467/sf is Irvine level.  Tustin should be around $350 to $400 (max). 
 
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