Author Topic: [IHB] Rising Sun and the Midnight Sky  (Read 3361 times)

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Offline zovall

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Offline iacrenter

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Re: [IHB] Rising Sun and the Midnight Sky
« Reply #1 on: April 17, 2012, 10:15:07 AM »
Blog post by CZ:
http://www.irvinehousingblog.com/blog/comments/rising-sun-and-the-midnight-sky

Any one house can sell for a higher price than comparables for a myriad of reasons. 28 Rising Sun ( http://www.redfin.com/CA/Irvine/28-Rising-Sun-92620/home/5959171 ) may find that pot of gold at the end of the rainbow (i.e. that FCB Leprechaun) but it doesn't mean the market is about to rebound. We won't know we hit bottom until we've well passed that point.

Offline akim997

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Re: [IHB] Rising Sun and the Midnight Sky
« Reply #2 on: April 19, 2012, 10:43:16 AM »
28 Rising Sun will never sell anywhere near that price.   I know someone who recently bought a Port2 model....  at nowhere NEAR that price..    I like the floorplan, as its good for a family with 2 kids.   Plus you get the desk area (if it was built in) in the upstairs hallway (predecessor to the "tech space) to serve as a psuedo den.   

Offline irvinehomeowner

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Re: [IHB] Rising Sun and the Midnight Sky
« Reply #3 on: April 19, 2012, 11:30:14 AM »
28 Rising Sun will never sell anywhere near that price.   I know someone who recently bought a Port2 model....  at nowhere NEAR that price..    I like the floorplan, as its good for a family with 2 kids.   Plus you get the desk area (if it was built in) in the upstairs hallway (predecessor to the "tech space) to serve as a psuedo den.   
28 Rising Sun at $828,888 (FCB numbers!) doesn't seem much better than 59 Midnight Sky (closed at $722,500)... both are corner lots, Midnight Sky actually has a larger lot... maybe because Rising Sun is across from the pool, it can garner $100k more?

I've been following Portisol models over the years and it seems like the over/under for Port2s is about $725-750k now... and that's even with nice upgrades, backyard landscaping and a corner lot.

And with Rosemoor 1s hitting the $725k mark... that's not good news for Portisols. I think this Portisol 4 that's "pending" might be a low watermark once it closes:

http://www.redfin.com/CA/Irvine/49-Rising-Sun-92620/home/5950664

I don't see many Port4s for sale and it originally listed for $799k, if it closes anywhere near its current $725k, in the words of comedian Russell Peter's dad... "Somebody gonna get a hurt real bad".
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Offline The California Court Company

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Re: [IHB] Rising Sun and the Midnight Sky
« Reply #4 on: April 19, 2012, 01:16:50 PM »
as I alluded in the other thread,  people are slowly realizing while Woodbury looks new and shiny but the schools suck hence the price correction death spiral.

28 Rising Sun will never sell anywhere near that price.   I know someone who recently bought a Port2 model....  at nowhere NEAR that price..    I like the floorplan, as its good for a family with 2 kids.   Plus you get the desk area (if it was built in) in the upstairs hallway (predecessor to the "tech space) to serve as a psuedo den.   
28 Rising Sun at $828,888 (FCB numbers!) doesn't seem much better than 59 Midnight Sky (closed at $722,500)... both are corner lots, Midnight Sky actually has a larger lot... maybe because Rising Sun is across from the pool, it can garner $100k more?

I've been following Portisol models over the years and it seems like the over/under for Port2s is about $725-750k now... and that's even with nice upgrades, backyard landscaping and a corner lot.

And with Rosemoor 1s hitting the $725k mark... that's not good news for Portisols. I think this Portisol 4 that's "pending" might be a low watermark once it closes:

http://www.redfin.com/CA/Irvine/49-Rising-Sun-92620/home/5950664

I don't see many Port4s for sale and it originally listed for $799k, if it closes anywhere near its current $725k, in the words of comedian Russell Peter's dad... "Somebody gonna get a hurt real bad".
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Offline irvinehomeshopper

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Re: [IHB] Rising Sun and the Midnight Sky
« Reply #5 on: April 19, 2012, 07:30:22 PM »
I read from somewhere that Woodbury has HK density. Could the large village population hurt property value when the effect of final built out takes its toll on quality of life?

as I alluded in the other thread,  people are slowly realizing while Woodbury looks new and shiny but the schools suck hence the price correction death spiral.

28 Rising Sun will never sell anywhere near that price.   I know someone who recently bought a Port2 model....  at nowhere NEAR that price..    I like the floorplan, as its good for a family with 2 kids.   Plus you get the desk area (if it was built in) in the upstairs hallway (predecessor to the "tech space) to serve as a psuedo den.   
28 Rising Sun at $828,888 (FCB numbers!) doesn't seem much better than 59 Midnight Sky (closed at $722,500)... both are corner lots, Midnight Sky actually has a larger lot... maybe because Rising Sun is across from the pool, it can garner $100k more?

I've been following Portisol models over the years and it seems like the over/under for Port2s is about $725-750k now... and that's even with nice upgrades, backyard landscaping and a corner lot.

And with Rosemoor 1s hitting the $725k mark... that's not good news for Portisols. I think this Portisol 4 that's "pending" might be a low watermark once it closes:

http://www.redfin.com/CA/Irvine/49-Rising-Sun-92620/home/5950664

I don't see many Port4s for sale and it originally listed for $799k, if it closes anywhere near its current $725k, in the words of comedian Russell Peter's dad... "Somebody gonna get a hurt real bad".
"I can only imagine at a house warming party what a total embarrassment it would be to tell the guests that there is no tour because there is no more house to show you because you are standing in the only room in the house. "

 

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