Any ideas why this house is so cheap?

The listing also says it is sold as is. That could have something to do with it too. Who knows what kind of shape it's in.
 
Any ideas why this house is  so cheap?

$252 /Sq. Ft.: 
2,770 Sq



Agents Read Remarks First.
Can anyone share agent remarks with me ?

Thanks in advance
http://www.redfin.com/CA/Irvine/53-Carver-92620/home/4795416

Perfect Home For Large Family Within The Best Area Of Irvine.
Modified Plan With Up To 7 Bedrooms.
Built In Outdoor Spa. Close To Shopping And Schools. . .
2 Bedrooms downstairs and 5 Bedrooms Upstairs.

Agents Read Remarks First.

 
Northwood in a popular area in Irvine. So I am somewhat surprised that the 2,770-SF, 7-bedroom home at 53 Carver in still on the market after over 5 months. Part of my surprise is that the asking price is $649,000 or $234 per square foot?reasonable for this area. For example, the nearby but smaller home at 26 Carver sold in July for $655,000 or $298 per square foot. Another selling point for this home is that it has no HOA fee or Mello Roos tax. (This is true for many of the homes in Northwood.)
carver



The problem might be that this is a short sale. In the beginning of August, the asking price was $699,000, but by the end of August, the price was dropped to $599,900. However, in September the asking price was increased to $690,000 but reduced in October to $649,000. Maybe the bank has been reluctant to accept a reduced price for this home.

Note: This home last sold in 2004 for $800,000. Also, according to Redfin, the December median price per square that a detached home in Northwood sold for was $329 per square foot.


Here is what some other homes on Carver have sold for:

26 Carver

    * 4 bedrooms/2 baths with 2,200 square feet
    * Sold on July 30, 2009 for $655,000 ($298/SF)

16 Carver

    * 5 bedrooms/3 baths with 2,754 square feet
    * Sold on February 19, 2009 for $750,000 ($272/SF)

6 Carver

    * 4 bedrooms/3 baths with 2,800 square feet
    * Sold on April 22, 2009 for $775,000 ($277/SF)
http://www.sweetorangehousing.com/2010/01/18/why-hasnt-this-home-in-irvines-northwood-sold/
 
Funny how $300/sft is considered cheap in Irvine.

Both of those Woodbridge homes are short sale priced and Bluejay is in escrow. I like the Autumn Oak more than the Bluejay (even though Bluejay is 3CWG) because it's a bit more updated. Also, the floor plan for Bluejay is incorrect, I believe it's a Patio Home Plan 4, not a Creekside. Bluejay has a nice location across from the park but it is also a zero lot line home.

They are both older, with small kitchens and the laundry is in the garage. The masters don't have a walk-in closets or a separate bath/shower. I think the Autumn Oak may have had an addition to get that 5th BR since their floorplan doesn't show that option, but I have no idea where they put it.
 
28 ERICSON AISLE Irvine, CA 92620
------------------------------------------------------------------------------
$469,000
Beds: 3
Baths: 2 baths
Home size: 1,760 sq ft
($266 / sq ft)
On Redfin:  2 days
MLS#:  P731539

Anyone has insider info on listing agent's remarks ?
**BUYERS TO SATISFY THEMSELVES WITH PERMITS**MUST SEE AGENT REMARKS**


I am not satisfied myself until list agents provide more details.
 
guava said:
28 ERICSON AISLE Irvine, CA 92620
------------------------------------------------------------------------------
$469,000
Beds: 3
Baths: 2 baths
Home size: 1,760 sq ft
($266 / sq ft)
On Redfin:  2 days
MLS#:  P731539

Anyone has insider info on listing agent's remarks ?
**BUYERS TO SATISFY THEMSELVES WITH PERMITS**MUST SEE AGENT REMARKS**


I am not satisfied myself until list agents provide more details.
Click to expand...
The property is an REO and will be bid up into the low $500k range unless it is totally destroyed inside.  Here are the agent-to-agent comments:

"MUST VISIT www.xxxxxxxxxxxxx.com CLICK SUBMITTING AN OFFER *To receive combo register @Http://xxxxxxxxxxxxxxxxxxx/signup.The purpose of this is for liability, no marketing purposes*MIN DEP $5K. NOT a short sale! Preapp must be DIRECT LENDER! See our Preferred Lenders. Availability status on our offer system is current do not call to ask. OTHER QUESTIONS for Marie email info@xxxxxxxxxxxxxxx.com**"
 
19 HAZELNUT Irvine, CA 92614

Beds: 3
Baths: 2.5
Sq. Ft.: 1,786
$/Sq. Ft.: $314
Lot Size: 3,400 Sq. Ft.
Property Type: Residential, Single Family
Style: Two Level, Other
Year Built: 1985
Community: Woodbridge
County: Orange
MLS#: P734762
Source: SoCalMLS
Status: Backup Offers Accepted
On Redfin: 5 days

Needs a little TLC but for the most part this is move in ready.
 
Hurry !! Hurry !! BEAT THE BANK !  DISTRESS SALE

All offers must be received by Tuesday, May 25 by 12 PM.


7 SAND Irvine, CA 92614
Beds: 3
Baths: 2.5
Sq. Ft.: 1,789
$/Sq. Ft.: $296
Lot Size: 3,570 Sq. Ft.
Property Type: Residential, Single Family
Style: Two Level, Marina
View: Faces South
Year Built: 1984
Community: Woodbridge
County: Orange
MLS#: S617609
Source: SoCalMLS
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 1 day
New Listing (24 hours)

Best inside Loop location in the Briarglen Tract.


DISTRESS SALE: BEAT THE BANK -

All offers must be received by Tuesday, May 25 by 12 PM.

 
22 BUTTERFLY Irvine, CA 92604
Beds: 3
Baths: 2.5
Sq. Ft.: 2,000
$/Sq. Ft.: $238
Lot Size: 2,720 Sq. Ft.
Property Type: Residential, Single Family, Townhouse
Style: Two Level
Year Built: 1976
Community: El Camino Real
County: Orange
MLS#: S619416
Source: CARETS
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 22 days
$475,000

----------------



29 BUTTERFLY Irvine, CA 92604
Beds: 4
Baths: 3
Sq. Ft.: 1,785
$/Sq. Ft.: $302
Lot Size: 2,766 Sq. Ft.
Property Type: Residential, Single Family
Style: Two Level, Contemporary
Year Built: 1976
Community: Northwood
County: Orange
MLS#: P736686
Source: CARETS
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 29 days
$539,000

--------------


3 ELFIN Irvine, CA 92604
Beds: 3
Baths: 2.5
Sq. Ft.: 1,772
$/Sq. Ft.: $293
Lot Size: 3,040 Sq. Ft.
Property Type: Residential, Condominium
Style: Two Level, Traditional
Year Built: 1977
Community: El Camino Real
County: Orange
MLS#: S620919
Source: CARETS
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 11 days
$519,900
 
$599,900
9 PENNY Pnes #240 Irvine, CA 92604
deerfield

Beds: 3
Baths: 2
Sq. Ft.: 1,900
$/Sq. Ft.: $316
Lot Size: 4,275 Sq. Ft.
Property Type: Residential, Single Family
Style: One Level, Cottage
Year Built: 1974
Community: El Camino Real
County: Orange
MLS#: S621799
Source: CARETS
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 5 days

LOCK BOX ON Sat. 6/19 at 1:00p. m.

Vacant go direct - Move-in perfect - Expanded Elkwood Model. ..

Family Room/Library/Study added - Wood Floors in Entry, Hall, Dining Room & Family Room -
Vaulted Ceilings - 3 Bedrooms on one level - Good, cul de sac location - Faces North West -
Private Park with pools at the end of the street - A


----------

$629,900
4 STAR THISTLE Irvine, CA 92604
Beds: 4
Baths: 3
Sq. Ft.: 2,474
$/Sq. Ft.: $255
Lot Size: 4,275 Sq. Ft.
Property Type: Residential, Single Family
Style: Two Level, Other
Year Built: 1974
Community: El Camino Real
County: Orange
MLS#: P735477
Source: CARETS
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 37 days

------------

$680,000
34 DEER Spg Irvine, CA 92604
Beds: 4
Baths: 2.25
Sq. Ft.: 2,800
$/Sq. Ft.: $243
Lot Size: 5,015 Sq. Ft.
Property Type: Residential, Single Family
Style: Two Level, Other
Year Built: 1977
Community: El Camino Real
County: Orange
MLS#: P720813
Source: CARETS
Status: Closed
 
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