4/3 Single Family Homes

irvinehomeowner

irvinehomeowner

Well-known member
It seems like this is the sweet spot in Irvine residences, the 4 bedroom house with the downstairs bedroom and at least a 3/4 bath (ie powder with a shower).

I did some RedFin search and I found a few newer ones that I would consider over buying a 4/3 in the 2010 Collection:

135 Confederation, 1977sft, $690,000
http://www.redfin.com/CA/Irvine/135-Confederation-Way-92602/home/4792941

Floorplan
http://floorplans.irvinerealtorsite.com/WestIrvine/Liberty/LibertyE1977.JPG

The floorplan is decent. This is similar to a Great Room as there is no formal living or dining room. It has a pseudo foyer, a kitchen with an eat-at "island", a pantry, downstairs bed/bath, upstairs laundry w/ sink, a huge master with 2 walk-in closets and the other 2 nicely-sized bedrooms also have walk-in closets.

This one in Northwood, a bit older on a bigger lot has all the traditional living/eating areas:

5 Buchanan, 2132sft, $699,950
http://www.redfin.com/CA/Irvine/5-Buchanan-92620/home/4783335

Floorplan
http://floorplans.irvinerealtorsite.com/Northwood/Courtside/CourtsideI2068.JPG

And this Woodbridge one on a corner lot:

1 Cornsilk, 1900sft, $735,000
http://www.redfin.com/CA/Irvine/1-Cornsilk-92614/home/4695828

I can't find the floorplan and the inside looks dated but it has a nice backyard.

These don't have the NHS or the California Room but how do these compare as more traditional SFRs?
 
Confederation is a Lewis built home. Lewis was a fantastic company untill they were absorbed during the last down turn into the KB Homes Collective. Resistance was futile. Quality suffered from then on, but in the Liberty tract you'll be OK.
 
[quote author="Soylent Green Is People"]Confederation is a Lewis built home. Lewis was a fantastic company untill they were absorbed during the last down turn into the KB Homes Collective. Resistance was futile. Quality suffered from then on, but in the Liberty tract you'll be OK. [/quote]

Sorry to say lewis went from bad to worse.
 
I hate the Libert homes in WI (which is my area). All the homes seem to be the same shade of white/peach/pink (I can't really tell the color, but I don't like it). The homes lack any charcter or charm on the outside. The orignal design was probably a 12 yr-old's rendering of a dream house (draw box, add roof, front door, done...) They had access to only a few colored pencils...

I actually went to see the 5 Buchanan house... it's not bad for the price, but the new owner will definitely need to put some money into the place. They must have used a bad exterior painter because all of the paint is cracking on the outside. The inside is not that much better and probably needs 20-30K in improvements. In that section of old Northwood, most people haven't done anything substantial to improve their home - which is what you get in Irvine if you don't want Mello. It is funny, there is a huge newly redone 3-4000sq ft house on the corner (forget what street) that sticks out like a sore thumb...

I am one of those who have posted in the past about the Camelia houses. For the $775K short sale, the realtor already had 4 offers on day 1. He indicated he expected the house to go for between $850-900K. As much as I like Camelia (I like both plans 2&3), I can't see myself paying over $750K for it. There is another house on Grape Arbor, an equity sale and they are asking $875. I do believe the realtor as there was another similar plan that sold for about $850.
 
[quote author="akim997"] All the homes seem to be the same shade of white/peach/pink (I can't really tell the color, but I don't like it).[/quote]
That's a big reason why the wife doesn't want to live there. I know not all are like that, but some of the ones in our sf range are.
 
Here is a new West Irvine listing:

18 Brookhollow, 1900sf, $679,000
http://www.redfin.com/CA/Irvine/18-Brookhollow-92602/home/4793955

Floorplan
http://floorplans.irvinerealtorsite.com/WestIrvine/GlenWillows/GlenWillowsD1900.JPG

Not near a major street, no HOA and it looks like it's in pretty good condition. No upgrades in the kitchen or master bath but it does have crown molding, plantation shutters and tile flooring in some areas.

Of the 3 I originally posted, 2 are in escrow and the Woodbridge one (1 Cornsilk) has dropped to $699,999:

http://www.redfin.com/CA/Irvine/1-Cornsilk-92614/home/4695828

I also found the floorplan:
http://floorplans.irvinerealtorsite.com/Woodbridge/Briarglen/BriarglenD1855.JPG

I'm not sure why it's not selling (169 days on Redfin) other than it's older. It's on a decent sized corner lot and not right next to Alton. Maybe it's because the master doesn't have a separate shower? It probably doesn't present very well in person (has anyone seen this house?).

I dunno... an older 4/3 for under $700k in Woodbridge seems like a good buy over what you can get in the 2010 Collection... the new home smell is strong.
 
[quote author="FreedomCM"]maybe there just aren't that many households with $200k plus incomes these days?
[/quote]

Freedom - stop acting crazy, you are trying to apply fundamentals to Irvine, we all now that they dont apply, the endless supply of FCBs will keep prices high forever and ever in Irvine.
 
[quote author="FreedomCM"]maybe there just aren't that many households with $200k plus incomes these days?
[/quote]
Then who is buying the 2010 Collection?
 
[quote author="irvinehomeowner"]
[quote author="FreedomCM"]maybe there just aren't that many households with $200k plus incomes these days?
[/quote]
Then who is buying the 2010 Collection?[/quote]

Alex, mikeirvine, and FE!
 
oh, clearly there is (some limited) number of people who do qualify.

I'm just unsure how many people who may have qualified a few years ago have fallen out of the pool, due to one of the two wage earners losing a job, or taking a lower-paying one.

And what the income profile for 200k+ households will be going forward.

But I suppose it is still cheaper than Guanzou
 
irvinehomeowner said:
Of the 3 I originally posted, 2 are in escrow and the Woodbridge one (1 Cornsilk) has dropped to $699,999:

http://www.redfin.com/CA/Irvine/1-Cornsilk-92614/home/4695828

I also found the floorplan:
http://floorplans.irvinerealtorsite.com/Woodbridge/Briarglen/BriarglenD1855.JPG

I'm not sure why it's not selling (169 days on Redfin) other than it's older. It's on a decent sized corner lot and not right next to Alton. Maybe it's because the master doesn't have a separate shower? It probably doesn't present very well in person (has anyone seen this house?).

I dunno... an older 4/3 for under $700k in Woodbridge seems like a good buy over what you can get in the 2010 Collection... the new home smell is strong.
Click to expand...
So Cornsilk price dropped to $660k last week and is now under contract. As I revisit the pictures (looks like they added more), this seems like a decent house for the price. You probably want to update the flooring and maybe do some kitchen/bath work but for $660k doing about $20k in upgrades, a corner lot in Woodbridge with potential to add more square footage (loft/room addition in the vaulted ceiling area) is pretty good.
 
freedomcm said:
oh, clearly there is (some limited) number of people who do qualify.

I'm just unsure how many people who may have qualified a few years ago have fallen out of the pool, due to one of the two wage earners losing a job, or taking a lower-paying one.

And what the income profile for 200k+ households will be going forward.

But I suppose it is still cheaper than Guanzou
Click to expand...
Yes there are a limited number of people with $200k+ household incomes, but there are many buyers looking to buy in Irvine who make less than $100k/yr but are putting 50%-100% down payments.  Many of these buyers are looking to buy 4+ bedroom homes in Irvine up to $900k.  I know this because 6 of my buyers fall into this category and none of them are FCBs per se (yes, they are Asian).  They got their down payment funds from savings, equity from a property that they sold with a lot of equity near the peak, and/or gift.  You don't need to have an income of $200k/yr when your loan amount will only be $0 - $400,000.
 
irvinehomeowner said:
irvinehomeowner said:
Of the 3 I originally posted, 2 are in escrow and the Woodbridge one (1 Cornsilk) has dropped to $699,999:

http://www.redfin.com/CA/Irvine/1-Cornsilk-92614/home/4695828

I also found the floorplan:
http://floorplans.irvinerealtorsite.com/Woodbridge/Briarglen/BriarglenD1855.JPG

I'm not sure why it's not selling (169 days on Redfin) other than it's older. It's on a decent sized corner lot and not right next to Alton. Maybe it's because the master doesn't have a separate shower? It probably doesn't present very well in person (has anyone seen this house?).

I dunno... an older 4/3 for under $700k in Woodbridge seems like a good buy over what you can get in the 2010 Collection... the new home smell is strong.
Click to expand...
So Cornsilk price dropped to $660k last week and is now under contract. As I revisit the pictures (looks like they added more), this seems like a decent house for the price. You probably want to update the flooring and maybe do some kitchen/bath work but for $660k doing about $20k in upgrades, a corner lot in Woodbridge with potential to add more square footage (loft/room addition in the vaulted ceiling area) is pretty good.
Click to expand...
I actually saw the home twice (once when it was occupied and last week when it was vacant).  When the property was occupied it did not show very well at all...bad paint, lots of clutter, and dirty carpet.  The owner actually repainted and cleaned the carpet since my first viewing and the property looks 10x better (especially with all those clutter gone).  One of my buyers put an all cash offer in on it and we are the first back-up buyer.
 
Most of the home are sold in the 2010 collection, can't be just a few of us.

escrowbear said:
[quote author="irvinehomeowner"]
[quote author="FreedomCM"]maybe there just aren't that many households with $200k plus incomes these days?
Click to expand...
Then who is buying the 2010 Collection?[/quote]

Alex, mikeirvine, and FE!
[/quote]
 
usctrojancpa said:
I actually saw the home twice (once when it was occupied and last week when it was vacant).  When the property was occupied it did not show very well at all...bad paint, lots of clutter, and dirty carpet.  The owner actually repainted and cleaned the carpet since my first viewing and the property looks 10x better (especially with all those clutter gone).  One of my buyers put an all cash offer in on it and we are the first back-up buyer.
Click to expand...
And that is why staging matters. I bet they wouldn't have to price drop it if they just cleaned it up and made it show better. Over 200 days on Redfin and all they had to do was work on presentation.
 
mikeirvine said:
Most of the home are sold in the 2010 collection, can't be just a few of us.

escrowbear said:
[quote author="irvinehomeowner"]
[quote author="FreedomCM"]maybe there just aren't that many households with $200k plus incomes these days?
Click to expand...
Then who is buying the 2010 Collection?
Click to expand...

Alex, mikeirvine, and FE!
[/quote]
[/quote]
It's all those non-IHB/non-TI members.  haha
 
irvinehomeowner said:
usctrojancpa said:
I actually saw the home twice (once when it was occupied and last week when it was vacant).  When the property was occupied it did not show very well at all...bad paint, lots of clutter, and dirty carpet.  The owner actually repainted and cleaned the carpet since my first viewing and the property looks 10x better (especially with all those clutter gone).  One of my buyers put an all cash offer in on it and we are the first back-up buyer.
Click to expand...
And that is why staging matters. I bet they wouldn't have to price drop it if they just cleaned it up and made it show better. Over 200 days on Redfin and all they had to do was work on presentation.
Click to expand...
Not quite true...price, location, upgrades, and floor plan matter a more than staging.  Remember how everyone commented that my condo was too clutter yet I got it in escrow within days of listing it?  Well, it was because it was highly upgraded and priced right.  At the end of the day, it's the price that ultimately sells the home.  Cornsilk lingered on the market for 200+ days mainly because it was overpriced and secondarily because it didn't show well.
 
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