Where's the best place to blow $1 million on an SFR in Irvine?

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woodburyowner said:
IndieDev said:
To be honest, I'm surprised the prices have been this sticky. Irvine must be the Knifecatcher capital of the world.
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We all know this isn't true based off of the 2010 new home collection sales.  I'm ready to drop 800k on a good sized SFR, but can't find one!  If there are always people like me around the Irvine marketplace, does it make us all knifecatchers?
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Yeah? well im about to drop $800K on an Irvine SFR...  it's currently not on the market, so maybe I'm just getting lucky... or not.  It's pretty stressful.  On one hand, you feel like you are getting a decent deal, since comps are in the $840-860 range.  On the other hand, maybe Irvine is just going to catch up to the rest of the world, and $800K becomes $700K...  The same model I am trying to purchase went for $725K in mid-2009.  I cant expect to pay the same, but it is an indication that such prices are "possible".

 
@akim:

If it went for $725k in mid-2009, I think you are overpaying at $800k.

That's just my opinion... but I think you should be paying less than any prices in the last 5 years... not more.
 
iacrenter said:
If you really need to buy new within the next 12 months:
1) Woodbury near Carmel II has largish empty lots--IHO mentioned Irvine Pacific to build SFR 3000sqft+ homes (not sure of the exact time frame)
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Thank TI member ajw522 for this info (http://www.talkirvine.com/index.php?topic=1427.0):

The new future SFR next to Carmel II in WB, will be San Marino by Irvine pacific:
http://www.villagesofirvine.com/Villages-And-Residences/Woodbury-Overview.aspx?type=neighborhood&Id=68
2800-3100sqft
4-5 bedrooms, 3-4 baths, 2 car garages
Prices mid $900K to low $1M
 
irvinehomeowner said:
@akim:

If it went for $725k in mid-2009, I think you are overpaying at $800k.

That's just my opinion... but I think you should be paying less than any prices in the last 5 years... not more.
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$725/730 was the outlier of the bunch.  but in irvine the lower pricing was at or around the $750-760 range.  i do agree with you in theory, but reality is all these other people are looking for the same thing i am (like you!) and have moved prices upwards north of $800K.  At $800K, the house is priced at $328/sq ft.  This has window treatments, floors, updgrades and a finished back yard.  so it's actually cheaper than new home collection.  sure i dont get the tankless water heater and california room, but i can live with that.  i do save about 4K per year in mello roos as well. 
 
and compared to the last remaining Sonoma plan 1 (i would have bought it if it wasnt just a 3BR) which was priced at $805K for a 3200 sq ft lot, i think i am getting a decent deal.  sucks, but i figure i'm just going to bite the bullet on this one...  well... i wont count my chickens until escrow closes so who knows. 
 
akim997 said:
and compared to the last remaining Sonoma plan 1 (i would have bought it if it wasnt just a 3BR) which was priced at $805K for a 3200 sq ft lot, i think i am getting a decent deal.  sucks, but i figure i'm just going to bite the bullet on this one...  well... i wont count my chickens until escrow closes so who knows. 
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Congrats on the upcoming purchase.  Do you mind me asking which village in Irvine the home is in?
 
sure...    i dont care anymore since an all cash offer is coming in to trump mine...  long story, but there are a lot of shady agents out there...  house was in Northwood II.
 
akim997 said:
sure...    i dont care anymore since an all cash offer is coming in to trump mine...  long story, but there are a lot of shady agents out there...  house was in Northwood II.
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Sorry to hear you are losing out on the home. I am sure you will find something even better in the future.
 
akim997 said:
sure...    i dont care anymore since an all cash offer is coming in to trump mine...  long story, but there are a lot of shady agents out there...  house was in Northwood II.
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How is an all cash buy a shady deal?    When I purchased my home, there was an offshore all cash buyer. Guess that is where they hide their money...over here. Fortunately, my offer was taken because the offshore couldn't get his act in time.
 
akim997 said:
sure...    i dont care anymore since an all cash offer is coming in to trump mine...  long story, but there are a lot of shady agents out there...  house was in Northwood II.
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If you feel like the agent did something unethical, you should report them to their broker and/or the DRE.
 
IndieDev said:
test said:
akim997 said:
an all cash offer is coming in to trump mine... 
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Go cash or go home.  LOL.  I buy all my properties with cash, works out great.
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But he's not talking about Legos. So I don't think your experience applies.
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What's the matter, you woke up from your Malibu wet dream and found yourself in an IAC apartment?  ROFLMAO.
 
thanks for the positive comments (not).  i didnt go into details as the deal is not done yet.  ill have to see.  im just not counting my chickens.  all cash is not shady, that was just a dissappointment.  rather there are other details that aren't being made clear. 
 
akim997 said:
thanks for the positive comments (not).  i didnt go into details as the deal is not done yet.  ill have to see.  im just not counting my chickens.  all cash is not shady, that was just a dissappointment.  rather there are other details that aren't being made clear.
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Not sure what you mean by "the deal is not done yet". Unless it is shortsale/foreclosure, offer is either accepted or not.

Either way, anything that happens - happens for best!
 
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