Not Much New Listings under $1 million for a house?

[Hugo Township]

@OP, it would be helpful if you actually described why you don't think the several options linked to you are credible, or described your needs/wants in more detail.

Hi,
I'm looking to move to Irvine and our budget is under $1 million, preferably around $900K-$950K, at least 4 bedrooms or 3 bedrooms+loft, but it has to be a house, not a condo. I know all the current listings out there on the MLS now. Fort Sumter, Blackfin, and Magnolia all pending within a week. Does anyone know of any new listings coming out? Please share if possible! Thanks!

We found quite a few resale houses that match these parameters. If you have your financing in order, you should be fine. Unless, of course, you have other criteria in mind that you didn't include in this post.

I thought this transaction from last month was a great value, maybe you can find something like it.https://www.redfin.com/CA/Irvine/2-Halifax-Pl-92602/home/4792939

Halifax had a horrible location right next to the busy street across from Myford.  It also needed a bump of upgrading as the home looked pretty beat up...hence the low closing price.

Thanks for the insight. I thought it was a good deal while still considering these drawbacks, but I can see how these would be dealbreakers for others.

Those SFRs right next to the train tracks in El Camino do sell eventually at a significant discount, just have to find the right buyer at the right price. 

Not to mention one of them was the scene of a murder. That must have been a heck of a disclosure.

Yeah, I had 2 buyers that I showed Halifax to who passed on it even though I told them they could get it in the low $800s.  Btw, the buyer was the listing agent and the sales price was reduced by the buyer agent commission so the price looks lower than it really should have been.

What a bizarre setup. The listing agent collected a listing agent commission, represented the fiduciary interests of the seller, and oh by the way, was the buyer? Doesn't pass the smell test to me.

 

[usctrojancpa]

@OP, it would be helpful if you actually described why you don't think the several options linked to you are credible, or described your needs/wants in more detail.

Hi,
I'm looking to move to Irvine and our budget is under $1 million, preferably around $900K-$950K, at least 4 bedrooms or 3 bedrooms+loft, but it has to be a house, not a condo. I know all the current listings out there on the MLS now. Fort Sumter, Blackfin, and Magnolia all pending within a week. Does anyone know of any new listings coming out? Please share if possible! Thanks!

We found quite a few resale houses that match these parameters. If you have your financing in order, you should be fine. Unless, of course, you have other criteria in mind that you didn't include in this post.

I thought this transaction from last month was a great value, maybe you can find something like it.https://www.redfin.com/CA/Irvine/2-Halifax-Pl-92602/home/4792939

Halifax had a horrible location right next to the busy street across from Myford.  It also needed a bump of upgrading as the home looked pretty beat up...hence the low closing price.

Thanks for the insight. I thought it was a good deal while still considering these drawbacks, but I can see how these would be dealbreakers for others.

Those SFRs right next to the train tracks in El Camino do sell eventually at a significant discount, just have to find the right buyer at the right price. 

Not to mention one of them was the scene of a murder. That must have been a heck of a disclosure.

Yeah, I had 2 buyers that I showed Halifax to who passed on it even though I told them they could get it in the low $800s.  Btw, the buyer was the listing agent and the sales price was reduced by the buyer agent commission so the price looks lower than it really should have been.

What a bizarre setup. The listing agent collected a listing agent commission, represented the fiduciary interests of the seller, and oh by the way, was the buyer? Doesn't pass the smell test to me.

Sorry I misspoke, the buyer agent was the buyer...not the listing agent on Halifax.

 

[I52Irvine]

You can also check out https://www.redfin.com/CA/Irvine/3-Merrimac-92620/home/4781442.  One of the best backyards I?ve seen in the neighborhood. 

 

[usctrojancpa]

You can also check out https://www.redfin.com/CA/Irvine/3-Merrimac-92620/home/4781442.  One of the best backyards I?ve seen in the neighborhood. 

Nice but it does lack a full driveway.

 

[momopi]

I think cities need to be more strict on permitting 4 bed homes with only 2 parking spaces in the garage and no usable driveway...

 

[junodragon]

Does anyone know or hear of any upcoming listings in this price range? Thanks!

 

[shahshah]

Is the lack of a full driveway why this house has not sold in 5 seconds like everything else on the market?

You can also check out https://www.redfin.com/CA/Irvine/3-Merrimac-92620/home/4781442.  One of the best backyards I?ve seen in the neighborhood. 

Nice but it does lack a full driveway.

 

[junodragon]

I think so, but a house on the same street with no driveway sold for around $1.1M earlier this year, so who knows?

Is the lack of a full driveway why this house has not sold in 5 seconds like everything else on the market?

You can also check out https://www.redfin.com/CA/Irvine/3-Merrimac-92620/home/4781442.  One of the best backyards I?ve seen in the neighborhood. 

Nice but it does lack a full driveway.

 

[Hugo Township]

I think cities need to be more strict on permitting 4 bed homes with only 2 parking spaces in the garage and no usable driveway...

The city of Irvine is overparked if anything, in my experience. Unpopular opinion, I know.

It's one thing to -offer- more parking in some homes, it's another thing altogether to mandate it by government fiat.

 

[akkord]

Pretty close to Irvine Blvd too. I know I race down Irvine Blvd when there's less traffic.  Irvine Blvd also has a ton of traffic during rush hour as potential issues.

Is the lack of a full driveway why this house has not sold in 5 seconds like everything else on the market?

You can also check out https://www.redfin.com/CA/Irvine/3-Merrimac-92620/home/4781442.  One of the best backyards I?ve seen in the neighborhood. 

Nice but it does lack a full driveway.

 

[Hugo Township]

Just saw this listing go up in Greentree. Very suspicious to see no photos...
https://www.redfin.com/CA/Irvine/4351-Skylark-St-92604/home/4673821

$359/sq ft listing. I don't recall there being any 5bd options, maybe there are unpermitted additions

edit: whoa, it was listed last month for 915k. The 850k listing price is probably purposely too low to incite a bidding war.

 

[Burn That Belly]

x

 

[shahshah]

Not sure about that. Comparing houses in Deerfield or the Ranch or Northwood from the 70s or Woodbridge seems to go from 100-200 to 850 - 1000. Still plenty of appreciation?

 

[Hugo Township]

My guess is that the house actually goes for $900k and you need to sink $100k to reno it.

 

[superbobbay]

This one is great. Big backyard, not close to freeway or train tracks, prime location. Probably will go above 800k?
https://www.redfin.com/CA/Irvine/4041-Glenwood-St-92604/home/4667773

 

[aquabliss]

This one is great. Big backyard, not close to freeway or train tracks, prime location. Probably will go above 800k?
https://www.redfin.com/CA/Irvine/4041-Glenwood-St-92604/home/4667773

That balcony in front... my eyes are burning!

 

[Hugo Township]

This one is great. Big backyard, not close to freeway or train tracks, prime location. Probably will go above 800k?
https://www.redfin.com/CA/Irvine/4041-Glenwood-St-92604/home/4667773

Listed as a 3 but description is a 4bd. 5500 sqft lot is nice. Kitchen looks like it will accommodate an island nicely. The floor plan is California room - ready to boot.

You will absolutely hear Culver. Nice walking distance to Ralphs, Bruxie, Irvine High, etc. My guess is it will go for 830k, and someone will sink 50k into the reno.

 

[Burn That Belly]

x

 

[mikebruin]

That might be one of the benefits of having a higher HOA.  That sounds weird, like who would want to pay more for HOA?  But having decent funds in the HOA (and a well run HOA) could help to make sure that at least the front of the house is well maintained and keeps its curb appeal.

Take that further, if HOA allows, maybe fine the owners who let their front lawns die, or require that homes be painted or repainted every 10-15 years, or prevent homeowners from installing a chain link fence instead of the standard white picket fence.  Just some ideas.

 

[Ready2Downsize]

Due to the drought, the state of California made it illegal to fine anyone for letting their grass die.

Just because the HOA takes care of the yard doesn't mean you will like the plants they have chosen or the landscaping maintenance and you might end up with muddy areas from poor irrigation. Then you'll be most unhappy to be paying for someone else to maintain it. You can't even add one little bedding plant to spruce up the yard.

I would never want to pay the HOA to maintain my yard and pay a high price for it.