Author Topic: New Listing - Castellina condo @ Covenant Hills in Ladera Ranch (19 Tuscany)  (Read 1247 times)

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Offline USCTrojanCPA

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Earlier this morning I listed an a beautiful view lot luxury condo in the guard gated Covenant Hills community of Ladera Ranch which I bought from my client last week. My all cash purchase made my client a non-contingent buyer and allowed them to buy a larger home closer to the ocean.  The home features 3 bedrooms and 2.5 bathrooms along with a downstairs den with 2,084sf of living space. The listing price is $800,000.

Showings began this morning at 10am and we already have over 20 showings booked. PM me or email (mmania001@yahoo.com) if you are interested in viewing this home.

Here is the Redfin link:

https://www.redfin.com/CA/Mission-Viejo/19-Tuscany-92694/home/5978691

Below is the link to the pictures and 3DMatterport virtual tour:

www.19Tuscany.com
Martin Mania, CPA
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mmania001@yahoo.com
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Offline USCTrojanCPA

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We have 4 offers in, 2 on Friday and 2 on Saturday. 
Martin Mania, CPA
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Offline Soylent Green Is People

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Know who the builder was?

Also,what is the tax rate? Given the age of the home the MR seems like it will fall off in5-7 years, no?
My .02c

SGIP

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Offline zovall

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« Last Edit: April 25, 2021, 09:30:32 PM by zovall »

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Offline USCTrojanCPA

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Know who the builder was?

Also,what is the tax rate? Given the age of the home the MR seems like it will fall off in5-7 years, no?

Zovall is correct, it was Centex which was purchased by DR Horton years ago.  The Mello Roos on the home is about $3,800 per year.  There were 2 more offers that came in on Sunday so 6 total now.
Martin Mania, CPA
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Offline USCTrojanCPA

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We got a total of 7 offers and I sent out the best and final counters which are due back by Friday at 12pm.
Martin Mania, CPA
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mmania001@yahoo.com
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Offline USCTrojanCPA

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Seller selected a back-up buyer as the first one flaked on us and the deposit from that back-up buyer hit escrow today so I updated the status on MLS.
Martin Mania, CPA
AgencyOne
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CA CPA License # 107675
mmania001@yahoo.com
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Offline zubs

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Sometimes I see "pending" and sometimes I see "under contract" on redfin.
Is there a difference?

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Offline best_potsticker_in_town

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Sometimes I see "pending" and sometimes I see "under contract" on redfin.
Is there a difference?

As it relates to the CRMLS: https://kb.crmls.org/knowledgebase/listing-status-definitions/

In most cases, once an offer is accepted and the earnest deposit hits escrow, the status is flipped to U. Once all the contingencies are moved, the status is moved to P. Many use U status so they can still accept back-ups.
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Offline Kick53rv3

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How is ladera ranch in general? Seems to be an cheaper option now that Irvine price is super high. How is the commute up the 5 to Irvine once covid work from home ends?

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Offline USCTrojanCPA

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Sometimes I see "pending" and sometimes I see "under contract" on redfin.
Is there a difference?

Potsticker is right on the button.  Once I have an accepted contract, I usually change the status to On Hold ("H" on MLS) and then once the deposit hits escrow then I change it to Active Under Contract ("U" on MLS) and when all contingencies are removed by the buyer then I change it to Pending ("P" on MLS).  However, if we have a handful of strong back-up offers and/or the seller does not want to show the home any longer then I'll change the status to Pending after the deposit hits escrow.
Martin Mania, CPA
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mmania001@yahoo.com
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Offline USCTrojanCPA

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How is ladera ranch in general? Seems to be an cheaper option now that Irvine price is super high. How is the commute up the 5 to Irvine once covid work from home ends?

Ladera prices are moving up just all the rest of the market but prices are about 15-20% lower than Irvine comparable homes.  I've noticed that the traffic on the 5 South of the Spectrum has gotten worse and worse since the beginning of the year.  Also, it takes a good 10+ minutes to get to Ladera Ranch once you get off the 5 Freeway at Crown Valley Parkway with all the lights.  That being said, Ladera is a very nice family friendly area and has some good relative value.  The floor plans are a little older build in the mid 2000s so many of them have formal living and dining rooms but still look nice overall.
Martin Mania, CPA
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CA CPA License # 107675
mmania001@yahoo.com
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Offline aquabliss

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I always think Ladera Ranch would be a nice place to live but then when I’m on my way there somewhere between Alicia and Crown Valley I say to myself “who the heck would want to drive way out here every day”.

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Offline Soylent Green Is People

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It is a long slog down the 5, then up CVP. Fortunately the Toll Road now runs from Sand Canyon all the way to Ortega Highway. I'd say it's faster and a much better drive - albeit more expensive - to take the Toll Road to Ladera Ranch than running down the freeway.

BTW The Toll Road now is much, much faster way to get to San Clemente and points South if you're planning an Irvine to SD weekend.

My .02c
My .02c

SGIP

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Offline USCTrojanCPA

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The transaction closed late on Friday afternoon.  The sales price was $850,000 and I also represented the buyer.  Congrats to both the buyer and seller.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
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