Talk Irvine

General => Real Estate => O.C. Real Estate => Topic started by: movingbackeast on September 17, 2018, 02:25:05 PM

Title: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on September 17, 2018, 02:25:05 PM
https://www.redfin.com/CA/San-Juan-Capistrano/31282-Paseo-Sereno-92675/home/4900053

Former Irvinite here who has lived in SJC for the last several years. Used to hang out on IHB a lot during the housing bust and made a real life friend from that blog. Moving back East for family reasons but hoping to tap into the collective wisdom of this group to get some guidance on my house listing. I know it definitely needs work as a lot is either original or poorly redone (by original owner who we bought house from) but re-done comp in our immediate tract are recently going for 300-400k more so we feel our price is fair. You can be blunt but please don't be jerks because this is my home.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on September 18, 2018, 12:18:01 PM
OP here... some recent comps redone by same flipper.

https://www.redfin.com/CA/San-Juan-Capistrano/31222-Paseo-Amapola-92675/home/4900010

https://www.redfin.com/CA/San-Juan-Capistrano/31222-Paseo-Amapola-92675/home/4900010
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: USCTrojanCPA on September 19, 2018, 11:01:22 PM
Cool looking home, but given that you are not in escrow after 40 days you may want to consider a price drop.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on September 24, 2018, 08:57:36 AM
Thanks USCTrojanCPA, that makes sense. Thanks for the kind words too about the house. We have sold places before but this place is special to us. We knew exactly what improvements we wanted to make and we've watched SJC's downtown get revitalized over the past many years.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: WTTCHMN on September 24, 2018, 10:43:36 AM
The problem with your location is that the schools suck.  Your elementary is rated a 4.  So any buyer will have to fork over another 30k per kid, per year for St. Margaret’s. 

Also, the other listing you provided is not a comp, it’s more like wishful thinking.  The square footage is almost 20% bigger and fully modernized inside.  Yours will have to be totally gutted to even look like that.

Lastly, some of your photos are staged pretty badly.  Couldn’t someone make your bed?  And put away your Oxi Clean?
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: Compressed-Village on September 24, 2018, 12:30:19 PM
The problem with your location is that the schools suck.  Your elementary is rated a 4.  So any buyer will have to fork over another 30k per kid, per year for St. Margaret’s. 

Also, the other listing you provided is not a comp, it’s more like wishful thinking.  The square footage is almost 20% bigger and fully modernized inside.  Yours will have to be totally gutted to even look like that.

Lastly, some of your photos are staged pretty badly.  Couldn’t someone make your bed?  And put away your Oxi Clean?

You portrayed an astute observation. And I thought you only post links.  :).
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: fortune11 on September 24, 2018, 12:56:30 PM
Good comments from WTTCHMN.   It may be worthwhile to do some light touch ups here and there to make the home look more in "sync".  Professional stagers can help you with that - you don't have to rent new furniture , but they will be able to move some things around to make the home more inviting and perhaps recommend painting a wall or two.   It may be worth it if your goal is to get that stretch pricing, although as USC pointed out , if you are not in escrow  by now,  you are looking at a listing price cut anyways. 
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on September 24, 2018, 12:58:51 PM
Most of the buyers in our neighborhood have grown kids (single level) so schools aren't a big factor. Thanks for the feedback.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: Soylent Green Is People on September 24, 2018, 01:15:05 PM
I know that area well. It's not a place where most buyers with kids are looking to purchase so yes, schools aren't a big deal relative to other areas.

There is only one single story SFR listed at a higher price in your area. It's larger, but dated, and doesn't have a pool. The pool in your home, while nice, isn't a draw for many buyers. This home has also been on the market for about the same time as yours. I'd expect them to cut price or de-list soon.

Most single story SFR's that have either closed in the last 90 days or are presently listed are $30-$60k under your present price.  It's time to revisit the key issue - price - and make the hard choice needed here. A good $60-$80k cut might generate the interest you're looking for. Remember, others have closed $60k near your price, but July is a completely different market than October.

Best wishes for success here.

Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: WTTCHMN on September 24, 2018, 01:25:31 PM
Your “comp” on Amapola was purchased in January for 865k before it was rehabbed and flipped 5 months later for 1.4 M.

Pretty impressed that the flipper could do all that - plus landscaping - in 5 months.  Whoever did it is a pro.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on September 24, 2018, 01:52:55 PM
Thank you all for your tough love and comments.

More “comps” for you. All the examples in this thread are part of the 51 Casas Capistrano HOA which differ in floorplans/square footage and how much they’ve been updated in 50 years but with similar feel in that they are all walled single level haciendas:

https://www.redfin.com/CA/San-Juan-Capistrano/31251-Paseo-Olivos-92675/home/4900041 -  smaller, more upgrades but interestingly they have put a roof and are doing extensive renovations since it sold

https://www.redfin.com/CA/San-Juan-Capistrano/31272-Paseo-Olivos-92675/home/4900031 - same floor plan, more upgrades, no A/C less private lot that is closer to the 5 and hence louder

We have had a lot of flipper and or owner/flipper (a la Jeff Lewis) types come through the neighborhood the last couple years. I could list two others on my court where the new owners bought for over 1.1M in the past 2 years and they’ve probably put in another 100k as they view it as their forever home. Its an interesting pocket of San Juan which is why we stalked and rented here before we bought ourselves.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: nosuchreality on September 24, 2018, 03:09:39 PM
So, I think you have a beautiful home.  Some features are a little dated but with a focus on staging, could bridge to 'vintage' or rustic and charming.

JIMHO, you're leaving too much off the table.  And too much on the shelf. :-)   You have incredible outdoor living space.  It needs to be staged.  Buyers need to see the pool, see the seating, see the grill and patio, outdoor table and envision their dinner party /family evenings in, out and about the house and pool.  Redo the pool shot with an early evening photo and not harsh mid-afternoon sun photo. IMHO.

You need staging inside to create a consistent theme and show buyers what could be.  Right now they get mixed messages of beautiful nursery juxtaposed with rolling office chair on a plastic static mat taking up the foyer between the living room and kitchen.  Don't get me wrong, I'd probably have rolling chair and mat too, but you want your buyer to think cool we can put a vintage wood chair at the desk to do a little work instead of thinking oh yeah, my office chair is going to look kind of clunky here.

Restage, re-photo shoot and remarket take it off market if you can for a while and come back.  Languishing on the market makes buyers look for issues to figure out why.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on September 24, 2018, 04:31:18 PM
Wow, thank you so much nosuchreality. I work from home and sit on that chair every day (work from home) so didn't even see how ugly that and the mat looked until you pointed it out. OMG. And you are right about the outside... the indoor/outdoor thing is what drew us to these homes and we haven't played that up at all really. We may have to look at some staging rental options there as we don't need all that for back East. Wow again everyone this is real estate/staging/photography/marketing and counseling all at once. :)
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: irvinehomeowner on September 25, 2018, 06:46:00 AM
NSR is totally right.

Not sure who your realtor is and the fact that they used the 3D modeling feature means they have some experience but when a home hasn't been updated, staging makes up for the older features.

It does look like there was some basic staging done but as NSR pointed out, there are some ways that the staging and photos can be done so they are more appealing. For instance, I would not include the picture of the bathroom with the pink tile... focus more on the nice things, the kitchen looks like it has some nice updates... and the outdoor space is great.

P.S. That front door is awesome.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: Mety on September 25, 2018, 10:51:32 PM
I might be the minority here, but I don't think the issue is the photo/staging. I find the home very beautiful and much better floor plan than many Irvine homes and the photos/3D clearly show that.

I believe the key of selling the home has got to be the LISTING PRICE. Like I've mentioned in other thread, homes are not selling well now especially if you put up with the comps even in Irvine. If you adjust the listing price more towards 2017's price range, the home might get above listing price offers and eventually get where you want. But it's something you would want to discuss with your family and the realtor more since I don't fully know your situation with budget and stuff.

Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on September 26, 2018, 02:40:17 PM
Thank you all. We have lowered our price and are going to look to stage outdoor primarily better and reshoot pics. You all are the best - can we start an East Coast sister site around the DC area?
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: momopi on September 26, 2018, 04:47:41 PM

The Canon Experience Center in Costa Mesa sometimes have photography classes for real estate professionals.  You might want to check with them for some ideas.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: momopi on September 26, 2018, 04:54:21 PM

?  Seems St. Margaret charge a lot more than J Serra?
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on September 26, 2018, 05:13:37 PM

?  Seems St. Margaret charge a lot more than J Serra?

Yes, pretty sure St. Margaret is by far the most expensive private school in the area. J Serra has a beautiful campus that is closer to this house and less than half I believe. The Mission Basilica school for K-8 (I think) is Blue Ribbon school, much cheaper and walking distance from this neighborhood as well.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: WTTCHMN on October 18, 2018, 03:09:30 PM
Backyard was re-staged with a pumpkin...

and voila! now pending.

https://www.redfin.com/CA/San-Juan-Capistrano/31282-Paseo-Sereno-92675/home/4900053
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: USCTrojanCPA on October 18, 2018, 04:14:39 PM
Backyard was re-staged with a pumpkin...

and voila! now pending.

https://www.redfin.com/CA/San-Juan-Capistrano/31282-Paseo-Sereno-92675/home/4900053


I'm sure the price drop helped as well.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on October 19, 2018, 10:06:23 AM
Actually, a party who had submitted a previous offer that we had kept in communication with. They will flip the house. Close is in a couple weeks.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: USCTrojanCPA on October 19, 2018, 12:18:39 PM
Actually, a party who had submitted a previous offer that we had kept in communication with. They will flip the house. Close is in a couple weeks.

Pretty risky to be doing flips in this market....good luck to them.  Congrats on the sale.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: Soylent Green Is People on December 01, 2018, 07:41:38 AM
Closed at $920k.

If sold to a flipper as per earlier post, they may have a challenging time ahead.

My .02c
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on December 10, 2018, 02:33:40 PM
Seller here... definitely sold to flippers.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on May 23, 2019, 05:48:24 AM
And the flippers are done flipping. It looks nice but it lost some of its hacienda appeal imo.

https://www.redfin.com/CA/San-Juan-Capistrano/31282-Paseo-Sereno-92675/home/4900053
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: freedomcm on May 23, 2019, 06:17:16 AM
how much $$ do you think they invested in the renovation?
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: bones on May 23, 2019, 06:32:12 AM
Any way to see the previous listing photos?
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: Soylent Green Is People on May 23, 2019, 06:39:45 AM
Usually prior photos are viewable in "Property History" however sometimes they can only be seen when logged in to Redfin.

Dang, that's alot of white paint there. The Hacienda charm is lost, but might be restored somewhat with the right decor and furniture.

Curious what is the best change seen - one that you wish you could have done while still owning? Sure, the kitchen update would likely top anyones list, but what else was a "wow" change here?

My 02c
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: WTTCHMN on May 23, 2019, 08:05:14 AM
All white is better than the previous ugly yellow.

They also took away the chair mat and made the bed!

The OP must be kicking himself.  Sold for 920k 6 mo ago, now listed at 1.4 M.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: eyephone on May 23, 2019, 08:29:37 AM
List price doesn’t mean the selling price.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: zubs on May 23, 2019, 09:33:01 AM
Any way to see the previous listing photos?


Under property history in redfin, I can click on a blue link that shows the old pictures.
Sold (MLS) (Closed Sale) (https://www.redfin.com/CA/San-Juan-Capistrano/31282-Paseo-Sereno-92675/home/4900053/crmls-OC18191074) - Old pics
New Pics (https://www.youtube.com/watch?v=yPYZpwSpKmA)



Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: akkord on May 23, 2019, 09:45:28 AM
List price doesn’t mean the selling price.

But if you wait long enough it'll be a huge discount even though it's probably overpriced.    ;D
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on May 23, 2019, 09:57:46 AM
Editing post.

Rude person (and you know who you are)  :P

Everyone else you rock.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on May 23, 2019, 10:09:22 AM
Usually prior photos are viewable in "Property History" however sometimes they can only be seen when logged in to Redfin.

Dang, that's alot of white paint there. The Hacienda charm is lost, but might be restored somewhat with the right decor and furniture.

Curious what is the best change seen - one that you wish you could have done while still owning? Sure, the kitchen update would likely top anyones list, but what else was a "wow" change here?

My 02c

My husband loves the kitchen but I would not have picked any of it. The floorplan changes I would have made would have been different. I don't need a kitchen that is that big... its half the house now - size was fine before. The bathrooms are beautiful but not even a tiny bit hacienda so I wouldn't do in this house. Fire pit over a fountain out front? Minimal landscaping - not even the small strip next to the driveway? I completely predicted a generic HGTV flip and that is what this is to me.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: movingbackeast on May 23, 2019, 10:12:47 AM
how much $$ do you think they invested in the renovation?

Other flips in the HOA by another flipper I had heard 200-300k - who knows? They did replace all the windows and doors and there were a lot of them, all the flooring, new kitchen, 3 new bathrooms (1 was unpermitted previously). Had to be a lot, right?
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: nosuchreality on May 23, 2019, 11:26:24 AM
Hmm, jimho, a tough price point in this market.  Devil is in the details, finishes and fit.  Seems very standard flip template.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: bones on May 23, 2019, 12:39:07 PM
Hmm, jimho, a tough price point in this market.  Devil is in the details, finishes and fit.  Seems very standard flip template.

Flippers use an interior designer once and then just buy the same materials over and over again for future flips.  Originality is expensive.
Title: Re: Anyone looking for a single-level hacienda walking distance to SJC ?
Post by: bones on May 23, 2019, 12:43:33 PM
Any way to see the previous listing photos?


Under property history in redfin, I can click on a blue link that shows the old pictures.
Sold (MLS) (Closed Sale) (https://www.redfin.com/CA/San-Juan-Capistrano/31282-Paseo-Sereno-92675/home/4900053/crmls-OC18191074) - Old pics
New Pics (https://www.youtube.com/watch?v=yPYZpwSpKmA)





Got it - thanks.  Couldn't do it from my phone but can on my desktop.
Looking at the before and after pictures, I think the flippers did a nice job.