Author Topic: Properties Closing Less than Previous Purchase Price  (Read 5387 times)

0 Members and 1 Guest are viewing this topic.

Offline woodburyowner

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 54
  • -Received: 112
  • Posts: 794
Re: Properties Closing Less than Previous Purchase Price
« Reply #15 on: September 22, 2018, 10:13:01 AM »
122 just went pending but I don’t get the low pricing either, and I’m sure neighbors aren’t pleased with these low comps.

Capella never showed much appreciation so owners should have already known the risks when purchasing there.  Also, the slow sales pace of original new build sales should have been a warning as well.

Low pricing in this tract is due to 1) extremely small lots (one of the smallest house/lot ratios of any recent build) 2) neighborhood layout (no cul da sac streets and the way the roads are makes it very congested feeling). 3) compared to other tracts in Groves, it is least desirable.

Offline bones

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 190
  • -Received: 1068
  • Posts: 4361
Re: Properties Closing Less than Previous Purchase Price
« Reply #16 on: September 22, 2018, 10:32:20 AM »
122 just went pending but I don’t get the low pricing either, and I’m sure neighbors aren’t pleased with these low comps.

Not a low comp when it’s a tract wide thing. It just is what it is.  If you own here - hopefully you don’t have reason to move anytime soon.

Offline lovingit

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 3
  • -Received: 13
  • Posts: 430
Re: Properties Closing Less than Previous Purchase Price
« Reply #17 on: September 22, 2018, 08:20:17 PM »
122 just went pending but I don’t get the low pricing either, and I’m sure neighbors aren’t pleased with these low comps.

Capella never showed much appreciation so owners should have already known the risks when purchasing there.  Also, the slow sales pace of original new build sales should have been a warning as well.

Low pricing in this tract is due to 1) extremely small lots (one of the smallest house/lot ratios of any recent build) 2) neighborhood layout (no cul da sac streets and the way the roads are makes it very congested feeling). 3) compared to other tracts in Groves, it is least desirable.

Less desirable than Varenna?

Offline meccos12

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 23
  • -Received: 50
  • Posts: 276
Re: Properties Closing Less than Previous Purchase Price
« Reply #18 on: October 01, 2018, 12:29:45 PM »
This is an interesting house. 

https://www.redfin.com/CA/Irvine/37-Exploration-92618/home/7217602

Purchased in May 2013 for 1.6M
relisted 20 days ago for 1.68M
Originally listed in 2017 for 1.9M


Offline Paris

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 174
  • -Received: 151
  • Posts: 1046
Re: Properties Closing Less than Previous Purchase Price
« Reply #19 on: October 03, 2018, 02:14:49 AM »
This is an interesting house. 

https://www.redfin.com/CA/Irvine/37-Exploration-92618/home/7217602

Purchased in May 2013 for 1.6M
relisted 20 days ago for 1.68M
Originally listed in 2017 for 1.9M

alot of crown moulding and built ins in this property. was it a former model home? Do buyers even like crown moulding these days or do they prefer the simpler more modern look?

Offline Kings

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 180
  • -Received: 197
  • Posts: 956
Re: Properties Closing Less than Previous Purchase Price
« Reply #20 on: October 03, 2018, 06:31:13 AM »
This is an interesting house. 

https://www.redfin.com/CA/Irvine/37-Exploration-92618/home/7217602

Purchased in May 2013 for 1.6M
relisted 20 days ago for 1.68M
Originally listed in 2017 for 1.9M

alot of crown moulding and built ins in this property. was it a former model home? Do buyers even like crown moulding these days or do they prefer the simpler more modern look?

in my opinion, coffered ceilings can be a nice touch used sparingly.  but in this home it looks like it's used throughout the entire first floor - even in the kitchen.  i think it makes the kitchen look smaller so not a fan here.

Offline bones

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 190
  • -Received: 1068
  • Posts: 4361
Re: Properties Closing Less than Previous Purchase Price
« Reply #21 on: October 03, 2018, 07:00:05 AM »
This is an interesting house. 

https://www.redfin.com/CA/Irvine/37-Exploration-92618/home/7217602

Purchased in May 2013 for 1.6M
relisted 20 days ago for 1.68M
Originally listed in 2017 for 1.9M

alot of crown moulding and built ins in this property. was it a former model home? Do buyers even like crown moulding these days or do they prefer the simpler more modern look?

Not a model home. But this house is VERY 2008.  Just goes to show, don’t go all in on design trends that are hard to change.

Offline nosuchreality

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 94
  • -Received: 326
  • Posts: 1539
Re: Properties Closing Less than Previous Purchase Price
« Reply #22 on: October 03, 2018, 07:11:33 AM »
JM2C, it's a 4200 sf home, put the dumbass fish eye lens away.

Offline WTTCHMN

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 15
  • -Received: 279
  • Posts: 1734
Re: Properties Closing Less than Previous Purchase Price
« Reply #23 on: October 03, 2018, 07:59:01 AM »
This is an interesting house. 

https://www.redfin.com/CA/Irvine/37-Exploration-92618/home/7217602

Purchased in May 2013 for 1.6M
relisted 20 days ago for 1.68M
Originally listed in 2017 for 1.9M

Well it went pending in 21 days so we'll soon see the final price.

Offline bones

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 190
  • -Received: 1068
  • Posts: 4361
Re: Properties Closing Less than Previous Purchase Price
« Reply #24 on: October 03, 2018, 12:51:49 PM »
This is an interesting house. 

https://www.redfin.com/CA/Irvine/37-Exploration-92618/home/7217602

Purchased in May 2013 for 1.6M
relisted 20 days ago for 1.68M
Originally listed in 2017 for 1.9M

Well it went pending in 21 days so we'll soon see the final price.

It's a pretty decent deal at $400 psf.  Nothing that cheap in this size in 92618 east of the freeways.  No house behind and no double MR.  Not surprised it went pending so quickly. 

Offline Paris

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 174
  • -Received: 151
  • Posts: 1046
Re: Properties Closing Less than Previous Purchase Price
« Reply #25 on: October 03, 2018, 03:46:06 PM »
This is an interesting house. 

https://www.redfin.com/CA/Irvine/37-Exploration-92618/home/7217602

Purchased in May 2013 for 1.6M
relisted 20 days ago for 1.68M
Originally listed in 2017 for 1.9M

alot of crown moulding and built ins in this property. was it a former model home? Do buyers even like crown moulding these days or do they prefer the simpler more modern look?

Not a model home. But this house is VERY 2008.  Just goes to show, don’t go all in on design trends that are hard to change.

What makes it so 2008? The millwork/ mouldings because the toll products like vistas and hidden canyon had a lot of that as well built in 2016-2018 Or the broken floor plan? I like some built ins that are useful but some built ins I feel like are a waste of space or constricts you to creating only certain types of spaces.

Offline fortune11

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 161
  • -Received: 192
  • Posts: 1564
Re: Properties Closing Less than Previous Purchase Price
« Reply #26 on: October 03, 2018, 06:12:22 PM »
This is an interesting house. 

https://www.redfin.com/CA/Irvine/37-Exploration-92618/home/7217602

Purchased in May 2013 for 1.6M
relisted 20 days ago for 1.68M
Originally listed in 2017 for 1.9M

alot of crown moulding and built ins in this property. was it a former model home? Do buyers even like crown moulding these days or do they prefer the simpler more modern look?

Not a model home. But this house is VERY 2008.  Just goes to show, don’t go all in on design trends that are hard to change.

What makes it so 2008? The millwork/ mouldings because the toll products like vistas and hidden canyon had a lot of that as well built in 2016-2018 Or the broken floor plan? I like some built ins that are useful but some built ins I feel like are a waste of space or constricts you to creating only certain types of spaces.

Man those pillars INSIDE the house are ugly . I have seen toll use those columns on the outside in some designs but don’t think having them inside the home will age well at all .

Offline Happiness

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 355
  • -Received: 299
  • Posts: 1465
Re: Properties Closing Less than Previous Purchase Price
« Reply #27 on: October 03, 2018, 06:59:56 PM »
This is an interesting house. 

https://www.redfin.com/CA/Irvine/37-Exploration-92618/home/7217602

Purchased in May 2013 for 1.6M
relisted 20 days ago for 1.68M
Originally listed in 2017 for 1.9M

Well it went pending in 21 days so we'll soon see the final price.

It's a pretty decent deal at $400 psf.  Nothing that cheap in this size in 92618 east of the freeways.  No house behind and no double MR.  Not surprised it went pending so quickly.

Anyone who buys in Portola Springs thinking they are getting a "deal" only needs to look at this sad story. The really sad thing is this house is a relic from the early days of PS before it was rebranded a value village so it is a tragic memorial to what could have been.



Offline WTTCHMN

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 15
  • -Received: 279
  • Posts: 1734
Re: Properties Closing Less than Previous Purchase Price
« Reply #28 on: October 03, 2018, 07:21:20 PM »
But the description says it’s “located in the prestigious community of Portola Springs”!


Offline aquabliss

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 163
  • -Received: 652
  • Posts: 3409
Re: Properties Closing Less than Previous Purchase Price
« Reply #29 on: October 03, 2018, 09:41:30 PM »
But the description says it’s “located in the prestigious community of Portola Springs”!



Apparently Lake Forest homes built in the 1970's are also quite prestigious:
https://www.redfin.com/CA/Lake-Forest/22622-Leaflock-St-92630/home/4819682

 

Talk Irvine Links

[Recent Posts]
[FAQ / Rules]

Site Supporters


Related Links

Recent Posts

Re: SCOTUS by fortune11
[Today at 04:44:55 AM]


Snowflakes by morekaos
[Yesterday at 10:12:03 PM]


Re: SCOTUS by Ready2Downsize
[Yesterday at 09:25:29 PM]


Re: 2008 Closed - 2019 List property. by Ready2Downsize
[Yesterday at 09:20:35 PM]


Re: 2008 Closed - 2019 List property. by meccos12
[Yesterday at 09:05:12 PM]