New Listing - Caserta Plan 3X in Cypress Village (70 Granite Path)

[lnc]

I'm telling you it's the proximity to the 99 Ranch.

The convenient is a big selling point for CV.  People being saying about how close the CV is  to the freeway, with noise and pollution etc, but most of resales are sold quickly and price has gone up on par with other villages.  There's definitely a good demand here for homes at CV. 

 

[WTTCHMN]

Its astounding, how much people are willing to pay for an attached 3BR condo with pollution and noise proximity to I-5 and garbage truck routes on Sand Canyon, not to mention the bus depot and affordable housing. I never would have believed it if you asked me a year or two ago. I guess there's enough people  just gotta have that new construction or Irvine over an an older SFR or other areas of OC.

SMH.

Location, location, location.  Test was right all along.

 

[cheetos]

Another unit just came out for 819k. The 898k listing really helped everyone out...

 

[My_Alter_Ego]

Woah 54k gain in one year?! The market is super hot right now.

Bad news for the seller because even after commissions and closing costs there will be a gain on sale resulting in a little tax to pay.  haha  Anyhow, the market sub $1m is pretty hot right now with a lack of inventory so that's what is driving the prices higher.

That being said, I'll have another Caserta Plan 3X listing coming up towards the end of March.  List price will be $800,000 on that listing.

Its astounding, how much people are willing to pay for an attached 3BR condo with pollution and noise proximity to I-5 and garbage truck routes on Sand Canyon, not to mention the bus depot and affordable housing. I never would have believed it if you asked me a year or two ago. I guess there's enough people  just gotta have that new construction or Irvine over an an older SFR or other areas of OC.

SMH.

Once you're inside the confines of CV, it's just like being in Eastwood, SG, or the others.  You don't feel like the I-5 is too close, unless you're unit is backed up right up against the fwy.  Those garbage truck routes....how's that any different than Woodbury or Stonegate?  The bus depot?  seriously?....anybody that travels up Sand Canyon to get to WB, SG, GP, PS...they have to see that same depot.  Who cares?

What about the convenience of getting on and off the freeway without having to deal with all that traffic on Sand Canyon?  How about its proximity to pretty much everything?  As more houses are built and more jobs are available on Sand Canyon and Spectrum, that traffic will get worse.  That proximity issue will become pretty valuable.  I'm willing to bet USC's other Caserta listing will do pretty well too.  The proof is in the pudding and people are bidding up these properties.

 

[usctrojancpa]

I'm telling you it's the proximity to the 99 Ranch.

The convenient is a big selling point for CV.  People being saying about how close the CV is  to the freeway, with noise and pollution etc, but most of resales are sold quickly and price has gone up on par with other villages.  There's definitely a good demand here for homes at CV. 

One factor might have been proximity to 99 Ranch but I know for a fact that a big factor for many buyers at the open house was that both the elementary school and the middle school were within walking distance in the same village.  There are very few Irvine Villages that have both an elementary and a middle school inside the Village.

 

[iacrenter]

People underestimate the risk of unseen dangers. Take wild fires for example. They are building multi million dollar homes in Hidden Canyon and Orchard Hills while surrounded by higher risk fire zones. No one cares because it's been a rainy winter and it's been years since the last great California wildfires. No one cares until the fire is at their doorstep.

Same goes for the TCE underground plume and pollution danger from freeway proximity.  So enjoy your convenience to the freeways and rising home values but there is no free lunch. You are paying a higher price with your health. It won't matter until your child develops a chronic respiratory condition or malignancy.

 

[usctrojancpa]

Another unit just came out for 819k. The 898k listing really helped everyone out...

Yeah, our competition was priced at $889k and $869k so my listing capture all of their traffic which resulted in multiple offers.  I should have sent a "Thank You" note to those listing agents and sellers.  haha

 

[paydawg]

Another unit just came out for 819k. The 898k listing really helped everyone out...

Yeah, our competition was priced at $889k and $869k so my listing capture all of their traffic which resulted in multiple offers.  I should have sent a "Thank You" note to those listing agents and sellers.  haha

Man...you're basically a contestant on The Price is Right!  Last person to bid (or give a bid) has a big advantage!

 

[My_Alter_Ego]

People underestimate the risk of unseen dangers. Take wild fires for example. They are building multi million dollar homes in Hidden Canyon and Orchard Hills while surrounded by higher risk fire zones. No one cares because it's been a rainy winter and it's been years since the last great California wildfires. No one cares until the fire is at their doorstep.

Same goes for the TCE underground plume and pollution danger from freeway proximity.  So enjoy your convenience to the freeways and rising home values but there is no free lunch. You are paying a higher price with your health. It won't matter until your child develops a chronic respiratory condition or malignancy.

I'm in my 40's and grew up right next to a freeway and went to elementary and high school that were right next to the freeway...in a much smoggier part of So Cal....in the 80's.  I know i'm only one case, but I don't have any health issues (nor do any of my high school friends/acquaintances).  Exactly when would these chronic respiratory conditions occur? 

I agree there is no free lunch.  No area is perfect.  Pesticides, landfills, freeways, plumes, garbage trucks....throw in earthquakes, coyotes and a whole slew of issues.  If people want to get away from all of those problems, they'll move to another part of the world, wherever that may be. 

 

[OC troll]

Woah 54k gain in one year?! The market is super hot right now.

Am I missing something, if the house sold for $781,800, and you take out 6% for RE commission / other misc fees, the cash back to seller is $734,892. The original purchase prices is $727,303. Since holding it for less than 2 years, with capital gains tax of ~15%, the seller is going to pocket $6k bucks. Does everyone just look at the sale price less original purchase cost only? I guess at the minimum the seller didn't take a loss.

 

[jmoney74]

Woah 54k gain in one year?! The market is super hot right now.

Am I missing something, if the house sold for $781,800, and you take out 6% for RE commission / other misc fees, the cash back to seller is $734,892. The original purchase prices is $727,303. Since holding it for less than 2 years, with capital gains tax of ~15%, the seller is going to pocket $6k bucks. Does everyone just look at the sale price less original purchase cost only? I guess at the minimum the seller didn't take a loss.

Lots of times it's 4 percent now.  I guess a few bucks is a few bucks. 

 

[AW]

Woah 54k gain in one year?! The market is super hot right now.

Am I missing something, if the house sold for $781,800, and you take out 6% for RE commission / other misc fees, the cash back to seller is $734,892. The original purchase prices is $727,303. Since holding it for less than 2 years, with capital gains tax of ~15%, the seller is going to pocket $6k bucks. Does everyone just look at the sale price less original purchase cost only? I guess at the minimum the seller didn't take a loss.

Depends on the sellers situation. Not everyone buys to invest and flip.
Job relo, health, family, divorce, etc could be the reason.
Especially the 2 year capital gains, 15% hit right there.
Since anyone can buy a house, this capital gains tax wouldn't even apply to foreign buyers?

 

[woodburyowner]

Woah 54k gain in one year?! The market is super hot right now.

Am I missing something, if the house sold for $781,800, and you take out 6% for RE commission / other misc fees, the cash back to seller is $734,892. The original purchase prices is $727,303. Since holding it for less than 2 years, with capital gains tax of ~15%, the seller is going to pocket $6k bucks. Does everyone just look at the sale price less original purchase cost only? I guess at the minimum the seller didn't take a loss.

I think the original comment is more related to the price appreciation of the property, NOT the net profit to the seller.

 

[nyc to oc]

Woah 54k gain in one year?! The market is super hot right now.

Bad news for the seller because even after commissions and closing costs there will be a gain on sale resulting in a little tax to pay.  haha  Anyhow, the market sub $1m is pretty hot right now with a lack of inventory so that's what is driving the prices higher.

That being said, I'll have another Caserta Plan 3X listing coming up towards the end of March.  List price will be $800,000 on that listing.

Its astounding, how much people are willing to pay for an attached 3BR condo with pollution and noise proximity to I-5 and garbage truck routes on Sand Canyon, not to mention the bus depot and affordable housing. I never would have believed it if you asked me a year or two ago. I guess there's enough people  just gotta have that new construction or Irvine over an an older SFR or other areas of OC.

SMH.

Once you're inside the confines of CV, it's just like being in Eastwood, SG, or the others.  You don't feel like the I-5 is too close, unless you're unit is backed up right up against the fwy.  Those garbage truck routes....how's that any different than Woodbury or Stonegate?  The bus depot?  seriously?....anybody that travels up Sand Canyon to get to WB, SG, GP, PS...they have to see that same depot.  Who cares?

What about the convenience of getting on and off the freeway without having to deal with all that traffic on Sand Canyon?  How about its proximity to pretty much everything?  As more houses are built and more jobs are available on Sand Canyon and Spectrum, that traffic will get worse.  That proximity issue will become pretty valuable.  I'm willing to bet USC's other Caserta listing will do pretty well too.  The proof is in the pudding and people are bidding up these properties.

Yeah, and I would never buy a place close to Sand Canyon in Woodbury or Stonegate either due to proximity to traffic noise and Garbage truck rumbling. Its not a ding on Cypress Village in general, but properties so close to major arterial streets, as this particular Caserta 3x is.  I also would never buy a house close to Culver, Portola, Irvine Boulevard, Jeffrey or any other major arterial street.  I mention  the bus depot as an issue  not because of an eyesore but because of emissions when you live close. I remember checking out Caserta in Cypress Village. You can definitely hear a constant hum from the freeway all the time.  I like to open my windows. Maybe people who keep their windows closed and the AC on all the time don't care as much.

 

[usctrojancpa]

Woah 54k gain in one year?! The market is super hot right now.

Am I missing something, if the house sold for $781,800, and you take out 6% for RE commission / other misc fees, the cash back to seller is $734,892. The original purchase prices is $727,303. Since holding it for less than 2 years, with capital gains tax of ~15%, the seller is going to pocket $6k bucks. Does everyone just look at the sale price less original purchase cost only? I guess at the minimum the seller didn't take a loss.

The seller definitely did not buy it to flip, their financial situation improved very recently for the better and were able to purchase a much larger new home.  Total costs to sell were just under 5%. 

 

[Fxguy]

Woah 54k gain in one year?! The market is super hot right now.

Am I missing something, if the house sold for $781,800, and you take out 6% for RE commission / other misc fees, the cash back to seller is $734,892. The original purchase prices is $727,303. Since holding it for less than 2 years, with capital gains tax of ~15%, the seller is going to pocket $6k bucks. Does everyone just look at the sale price less original purchase cost only? I guess at the minimum the seller didn't take a loss.

The seller definitely did not buy it to flip, their financial situation improved very recently for the better and were able to purchase a much larger new home.  Total costs to sell were just under 5%.

I was looking at it as more of a market indicator not owner final take home or as a investment.

 

[usctrojancpa]

Woah 54k gain in one year?! The market is super hot right now.

Am I missing something, if the house sold for $781,800, and you take out 6% for RE commission / other misc fees, the cash back to seller is $734,892. The original purchase prices is $727,303. Since holding it for less than 2 years, with capital gains tax of ~15%, the seller is going to pocket $6k bucks. Does everyone just look at the sale price less original purchase cost only? I guess at the minimum the seller didn't take a loss.

The seller definitely did not buy it to flip, their financial situation improved very recently for the better and were able to purchase a much larger new home.  Total costs to sell were just under 5%.

I was looking at it as more of a market indicator not owner final take home or as a investment.

Market is definitely picking up, and that's evident both from how quickly homes go into escrow (even the $1m+ listings) and the increase in sale prices from late 2016....I'd guess that prices in Irvine are up about 3-5% since late last year.