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- Thread starter ravi
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NEW -> Contingent Buyer Assistance Program
Interesting someone would do this type of reno but they probably locked into a low rate (or own outright) it made sense to just expand it than to rebuy (something we are thinking about either loft, reno or ADU.
woodburyowner
Well-known member
Looks like they expanded the back of the property at a minimum. Would be interesting to see this property in person to see what they really did. It's pretty rare to see this vintage property get this level of renovation.
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woodburyowner
Well-known member
Actually, the front of the house also got pushed out beyond the garage. That's where the extra bedroom is coming from. You can look at the google street photos and the current photo of the front. Looks very nicely done.
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irvinehomeowner
Well-known member
Yep... that's where they got the bedroom and the 2nd floor loft space.
Interesting someone would do this type of reno but they probably locked into a low rate (or own outright) it made sense to just expand it than to rebuy (something we are thinking about either loft, reno or ADU.
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irvinehomeowner
Well-known member
Even if reassessed taxwise... still cheaper than buying a 4br/3ba over expanding your 3br/2.5ba.
And even if not scarce, for rental (or purchase), more people are looking for 4br over 3br (and downstairs br especially).
And even if not scarce, for rental (or purchase), more people are looking for 4br over 3br (and downstairs br especially).
woodburyowner
Well-known member
If there is a reassessment, it's only on the value of the additional sq ft added. The effect of the reassessment will be much less than purchasing a similar property at full price.
The 4bd with 3rd floor bonus room is a horrible configuration that will have a hard time finding buyers.
The 4bd with 3rd floor bonus room is a horrible configuration that will have a hard time finding buyers.
On this note, my wife and I are looking for an off market 4 BD plus loft home in Woodbury to buy. We have seen all the active listings and I have reached out to several agents who have helped buyers and sellers in the area in the last few years but if anyone here knows of any leads, we would really appreciate it. We are looking only in Woodbury and Columbus grove.
irvinehomeowner
Well-known member
Ravi sounds like me over 15 years ago scrounging through houses looking for one that checks all the boxes.
New inventory variety was a little better back then but finding good reasonably priced resale was very difficult and I imagine it’s harder now with many owners holding because they locked in on the low interest rates.
I was really into Woodbury at the time too and considered some Portisol homes.
Good luck and keep us posted. It’s going to be hard to find recs here because there are not many people who will advertise their off-market home on TI. If you have an agent, have them target the areas where you want to buy.
New inventory variety was a little better back then but finding good reasonably priced resale was very difficult and I imagine it’s harder now with many owners holding because they locked in on the low interest rates.
I was really into Woodbury at the time too and considered some Portisol homes.
Good luck and keep us posted. It’s going to be hard to find recs here because there are not many people who will advertise their off-market home on TI. If you have an agent, have them target the areas where you want to buy.
Thank you! Yes what we are looking for (SFR, 4 BD plus loft, 1st level BD and BA) is nothing really special, many are looking for the same thing but what makes it harder is we are pretty much looking only in Woodbury & Columbus Grove. for a variety of reasons. So not looking at areas like Portola Springs, Orchard Hills, Great Park etc where there is a lot more inventory. I know it's hard when we have only a few areas we like but that just means it will feel really good when we buy a home and get what we are looking for. It will be worth it. Several agents are keeping an eye out for off market homes in these areas for me, I am also looking at rental homes and homes sold in the past few years in these areas and reaching out to those agents who helped buyers/sellers for those homes to see if the owners would want to now sell. It's funny looking at the old threads, I will often see comments referencing powerlines or soil contamination in CG, high density or low income housing in WD, etc. but I really wish in the real world more owners would sell for those reasons, then that would make it far easier for me or for buyers in general ha. The truth is these are extremely desirable areas. People just dont sell. I know these areas particularly CG very well. In the irvine side, there was just one (literally one) 4 BD+ SFR home sold in the last year- 29 waterlily. And on the Tustin side, there was also just one home sold in the last year- 16626 Mosscreek. There is literally just one 4BD SFR active listing now in CG which is on Camilia Ave, didnt quite love that home. People just dont sell here, if anything they would rather rent it out.