Irvine mansion offered as a rare short sale for $7 million

Tarek El Moussa is one of the listing agents.  Home previously listed several times with different agents at higher prices.  Know someone who sold a 9,500sf home further down Canyon Creek a year ago.  Took over a year and multiple price drops.


Interesting to see if short sale scenario would produce a higher price due to perception of getting a good deal.  Otherwise, lender may need to be flexible if they want a quick sale.
 
kbinteriordesign said:
Grr...I've reached my access limit on ocregister.com! Could someone please post the address or link to the listing? Thank you!
Click to expand...

Open a private browser and you can read it
 
qwerty said:
kbinteriordesign said:
Grr...I've reached my access limit on ocregister.com! Could someone please post the address or link to the listing? Thank you!
Click to expand...

Open a private browser and you can read it
Click to expand...

Thanks! Found the listing on Redfin and Zillow, but only an exterior photo is shown (so far).
 
Very tempting, but I used the mortgage calculator and if the payments don?t get me, I?ll be dead when property tax comes due.  I guess my Shady Canyon dream will have to remain just that...
 
aquabliss said:
Very tempting, but I used the mortgage calculator and if the payments don?t get me, I?ll be dead when property tax comes due.  I guess my Shady Canyon dream will have to remain just that...
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Guy I know that I referenced earlier sold his home due to maintenance costs.  Landscaping was close to $1,000 a month and he wasn't using a big name landscaper with fancy trucks like many in Shady do.  Also, his electrical was averaging over $1,500/month with summer months topping out at $2,400.  HOA was also close to $1,000 a month.  Add in the cost of cleaning and maintaining 9,500 sf and property taxes are only half the annual costs. 
 
irvine buyer said:
aquabliss said:
Very tempting, but I used the mortgage calculator and if the payments don?t get me, I?ll be dead when property tax comes due.  I guess my Shady Canyon dream will have to remain just that...
Click to expand...

Guy I know that I referenced earlier sold his home due to maintenance costs.  Landscaping was close to $1,000 a month and he wasn't using a big name landscaper with fancy trucks like many in Shady do.  Also, his electrical was averaging over $1,500/month with summer months topping out at $2,400.  HOA was also close to $1,000 a month.  Add in the cost of cleaning and maintaining 9,500 sf and property taxes are only half the annual costs. 
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Yikes, but then again we are taking about a property that is 4x bigger than mine and probably sitting on a lot that is 2-3x larger.  I guess I'll be happy with my 2,500sf home.  haha
 
irvine buyer said:
Tarek El Moussa
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Shocking that's not a name I would have expected to see. He's the son of one of my high school teachers. I was just talking about him literally yesterday with an old classmate about how he ran off into the woods with a gun.
 
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