New Listing - Verandas Plan 3 in Tustin Legacy Columbus Square (1443 Madison St)

Harajuku said:
USCTrojanCPA said:
The seller told me that their phone is ringing off the hook....had 4 showings yesterday and already had 4 showings today with a few more later on this afternoon.  The agent that first showed the home yesterday called me last night telling me that they'll have an offer to us by tonight.
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Why did the potential buyers call the seller?  Shouldn't they be calling you? 
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Buyer agents are calling the seller directly to set up a time to show as per the instructions from the seller to me which I put in the MLS.  Any questions about the home, pricing, etc the seller told the buyer agents to speak with me.  I show the home to the buyers that have contacted me directly and aren't working with another agent. 
 
paperboyNC said:
Harajuku said:
USCTrojanCPA said:
The seller told me that their phone is ringing off the hook....had 4 showings yesterday and already had 4 showings today with a few more later on this afternoon.  The agent that first showed the home yesterday called me last night telling me that they'll have an offer to us by tonight.
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Why did the potential buyers call the seller?  Shouldn't they be calling you?
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Realtors can show homes prior to an open house if the sellers OK it, so the Realtor only portion of MLS probably has the seller's phone number listed for Realtors to call.
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That's exactly right.  In the agent only portion of MLS there is the seller's phone number to call and let the seller know when the agent wants to show the home.  The seller instructions were that they wanted 2-3 hours notice prior to any showings.  I gave the seller one of my Supra Ilockboxes and they leave it out when they aren't home.  As IHO mentioned, I can track which agent showed the home and at what time from the Supra Ilockbox. 
 
eyephone said:
aquabliss said:
Q are you testing the waters before you finally move to the good side of the tracks?
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If it was a 3 car garage, we all would know who it is possibly.  :)
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Yeah, maybe....but this is not Qwerty's home just a referral that he passed along to me.
 
We had 24-25 folks come by on Saturday, including a few TIers.  It looked like it was going to rain (it sprinkled in the late morning) but it stayed dry for the open house.  We received the 2nd offer over list and I have heard that we'll be getting another 2 offers later on today. 
 
USCTrojanCPA said:
We had 24-25 folks come by on Saturday, including a few TIers.  It looked like it was going to rain (it sprinkled in the late morning) but it stayed dry for the open house.  We received the 2nd offer over list and I have heard that we'll be getting another 2 offers later on today. 
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I noticed the last comp in Veranda is 1431 Georgia at $780k, closed in May. But I see they drank some kool-aid at their original list.  Same model I think as yours? Interior conditions look similar or near identical. 2,971sq.ft. lot but it is a corner location & appears to be in a quiet location...

From a homeowner perspective, I hope you get 7 offers over list price...Is the fact you're backing up to Edinger your reasoning behind the $750k list? I was thinking your larger lot could wash out the Edinger dinger....
 
The one on Georgia that sold for 780k has to deal with all of the cars going in/out at 30-40mph since it is one of 3 exit/entry points int Columbus square. The one that backs edinger has commercial soundproofing to help block out ten edinger noise. The back yards don't even compare.
 
You can see the $$ spent on the home. Very quiet upstairs. Very large lot for the community. It's not a "steal", as some buyers are always on the prowl for, but you are certainly getting a well made, well upgraded home for what will most likely be a higher than comps final price.

My .02c
 
Soylent Green Is People said:
You can see the $$ spent on the home. Very quiet upstairs. Very large lot for the community. It's not a "steal", as some buyers are always on the prowl for, but you are certainly getting a well made, well upgraded home for what will most likely be a higher than comps final price.

My .02c
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Just curious, what's considered a "steal" these days?
 
Nothing in Irvine that I can see.

In one of our local Realtor meetings there was an agent complaining that her "buyers" were waffling on a purchase, waiting for the coming foreclosure wave (this was a conversation in June 2015, not June 2008). I felt like telling the agent that there is a name for home buyers hoping to scoop up a deal like that in OC: They're called "renters".

Could deals come back? Sure. Builders with standing inventory in December. That's usually a good place to start. Zero second fall out's and desparate sellers needing to move their home. Other than that... the pickings are slim. 
 
sell4u said:
USCTrojanCPA said:
We had 24-25 folks come by on Saturday, including a few TIers.  It looked like it was going to rain (it sprinkled in the late morning) but it stayed dry for the open house.  We received the 2nd offer over list and I have heard that we'll be getting another 2 offers later on today. 
Click to expand...

I noticed the last comp in Veranda is 1431 Georgia at $780k, closed in May. But I see they drank some kool-aid at their original list.  Same model I think as yours? Interior conditions look similar or near identical. 2,971sq.ft. lot but it is a corner location & appears to be in a quiet location...

From a homeowner perspective, I hope you get 7 offers over list price...Is the fact you're backing up to Edinger your reasoning behind the $750k list? I was thinking your larger lot could wash out the Edinger dinger....
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Yeah the initial pricing for 1413 Georgia St. was definitely too high and is the same floor plan as my listing (Verandas Plan 3...aka a model match).  That home has less updates than my listing and has a lot that's about 2,000sf less.  The $750k list price is definitely an extremely competitive listing price.  I provided the sellers 3 different pricing options and they selected the most aggressive pricing strategy to generate multiple offers quickly. 

If you consider that the home accross from the house (Verandas Plan 2...see the link below) also siding to Edinger with a larger lot closed for $720k while interior lot Plan 2s closed for $700k-$710k so the market says that the larger lots are worth $10k-$20k above model match interior lots.
https://www.redfin.com/CA/Tustin/1445-Madison-ST-92782/home/12249218
 
We had even more folks show up today...28-29 folks (including a few repeat buyers) and even some of them came a little after 4pm.  We received a 3rd offer an hour ago as well and have heard from 2 other agents that they'll submit offers.  Looks like the sellers will have a number of offers to review tomorrow night.  :D
 
Offers 4 & 5 (all offers are still over list) have come in and there will be at least 2 more coming later on today (one of them will be an offer that a buyer agent wants to present to me in person at 7pm...old school Korean broker). 
 
USCT must be serving some Kool-Aid at his Open Houses to be able to generate so many over list offers considering that the market has softened a bit.

Congrats man.
 
aquabliss said:
So how's it looking, are you going to break the "over list" record you just set last week?
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So far so good, still been folks to come up to break that "over list" record though.  haha 
 
irvinehomeowner said:
USCT must be serving some Kool-Aid at his Open Houses to be able to generate so many over list offers considering that the market has softened a bit.

Congrats man.
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No Kool-Aid but I did have waters that SGIP was kind enough to drop off on Saturday before the open house.  Really came in handy on Sunday as it was warm and muggy outside, had the AC set to 69 too.  Having a very competitive listing price and a home that looks better than a model home also help.  Definitely wouldn't be in this position without the seller doing their part. 
 
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