wow, cheapest i've seen

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ndiddy_IHB

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<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1534931">http://redfin.com/stingray/do/printable-listing?listing-id=1534931</a> check this out.
 
<p>Yeah, I noticed that one today. Unforunately its in The Colony. One would have to live with a bunch of retirees...</p>

<p>That one, along with the bank-owned that went for $590K recently, is gonna kill the comps in College Park I think. </p>
 
<a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1531652"> 4 Moss GLN #13 <a> Irvine, CA 92603</a> </a>



Price: $574,900



<a style="text-decoration: none;" href="http://www.redfin.com/stingray/do/how-you-save?direct-section=buy" linkindex="10" set="yes"> Buy with Redfin and Save $11,498*</a>













Beds:



2











Baths:



2











Sq. Ft.:



1,831











$/Sq. Ft.:



$314











Lot Size:



-









Type:

Condominium





Style:

Contemporary





Year Built:

1977





Stories:

Two Levels





View(s):

Park or Green Belt





Area:

Turtle Rock







County:

Orange









MLS#:



P625557











Status:



Active











On Redfin:



1 day















<img style="vertical-align: middle;" src="http://p1.rfimg.us/v4.5/images/icon_pq_new.gif" alt="" /> New Listing (24 hours)














I will probably profile this one.
 
Prices like $240-250/sf in area like The Colony and College Park are probably around 30% off peak. Bigger drop than many areas, but these places never saw $400+ per sf at the height of the bubble.
 
saf - it's not in College Park. It's in The Colony. The price is about right in today's market. Recent comp near this size in CP was $590K and that one needed a little work. It's actually pretty good deal in today's market. It'll fall, but probably down into the low $400K range.
 
let say if i want to buy this property how much should I offer ? 450K? is that a good location? maybe like few years down the line will this house sell quicker?
 
<p>The location isn't a bad one. It's near the park, interior, near the border with Harvard Square. Far enough from the 5 it would not be an issue.</p>

<p>If I wanted that house to live in, I'd offer $499K, a 35% discount from peak, and maybe pay up to the $530-550K range. For $600K after upgrades, etc. one could have a pretty decent looking mid-sized SFR. </p>
 
Thanks ipoplaya.



I am looking to buy a house in Irvine. I am trying to find a decent single family residents in range between 500k to 550k. But i want at least 2000sq ft. Also I want low taxes.



Any suggestion? or any house out there that you recommend.



Thanks,
 
<p>The only place to find an SFR 2000+ sf in Irvine for that kind of price right now would likely be College Park, the Colony, maybe El Camino.</p>

<p>Here is another possibility, although I think the Colony place is a better deal:</p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1538413">http://www.redfin.com/stingray/do/printable-listing?listing-id=1538413</a></p>

<p>The cool thing about Deer Creek is its single story. Will feel bigger. Schools are mostly the same between the two.</p>
 
I just took a tour of this house yesterday.



There are <b><i>8</i></b> possible bedrooms which the owner rented out to UCI students. What used to be a front living room was converted into two "bedrooms" (no closet in either). So: four bedrooms upstairs, two bedrooms and two non-closet bedrooms downstairs. Only 2 bathrooms in the house - one in the upstairs master bedroom and one downstairs. The dining room still exists.



The realtor of the house is actually aiming for high-$600s she said, and she also stated that she has about 6 offers, hinting that a few of them were in the mid-$600s and that she's hoping for a bidding war. When I went to see this house, a LOT of people were also there to see it. I'm talking at LEAST 6 other groups of people. It was ridiculous!



It sounds like a decent deal if you're looking to rent out rooms and you can act fast to grab the house. Otherwise, with the money you put in to possibly knock down walls and add a third bathroom....
 
<p>I'm sure that this violates all kinds of building and zoning laws. I wouldn't touch this property with a 10 foot pole, unless I had the money to convert it back to what it was according to the books. You might have to meet current standards, rather than the ones in place when the property was built.</p>

<p>Might not be so true in Cali, but in Fla, the building rules are always a moving target, and there is perpetual war between the developers and the building and inspection people. It's a low level, very polite war, with lots of groveling on the part of the developers, but a war nonetheless. </p>

<p>Normally when you fix something or repair something after a hurricane, you just have to build to code at the time your house was first built, but if it's more than 50% destroyed (a rather subjective standard), then you have to build to current code, which is always more expensive.</p>
 
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