99 Shadywood Revisited

iacrenter

iacrenter

Well-known member
P761091_0.jpg
http://www.redfin.com/CA/Irvine/99-Shadywood-92620/unit-16/home/5895281

I got an automated email with home listings today and I saw this home pop back up on my radar. I posted about this Plan 4 Arden Square (http://northwoodpointeirvine.com/Floorplans/Arden/Arden_4.asp)
home back in June 2009 on IHB (http://www.irvinehousingblog.com/forums/viewthread/5518/):

========================================
"I am getting tired of seeing the same listing over and over on the MLS and I almost feel sorry for some of these sellers. I opened my automatic email listing of available Irvine homes and this one popped up yet again in Arden Square. I don?t have MLS access but I am sure the combined days on market must be very long.

Over the last 12+ months they seem to be always priced higher than neighborhood comps. Also their property description is especially cheesy, even for realtor speak. ?More motivated than a Mink at a Supermodel Convention! Extremely and spectacularly upgraded with one of the most fantastic locations in the Award Winning master planned community of Northwood Pointe.?

Somehow these owners probably think their property is ?special? and commands a premium and they are going to ride the market into the ground. Maybe we can help Mike Dunn convince the owner to set a realistic market price.

What do you think it is worth now?

This is a Arden Square Plan 4. I think there is some discrepancy with builder?s sq footage of 2245 and mls listing 2400.

$849,000

Status: Active
Bedroom: 4
Bathroom: 3
Year Built: 2002
Lot Size: 3600
Square Footage: 2400
List Date: 2/7/2009
Garage Spaces: 2"
=========================================

I can't believe they never learn!!! These are some seriously stubborn owners or investors. No change in price but only changed RE agent. I guess they really have no interest in selling the place.
 
That's ludicrous. Irvine housing is like a hot technology stock. It always goes up. $849,000 is a bottom barrel price for that huge lot.
 
iacrenter said:
P761091_0.jpg

I got an automated email with home listings today and I saw this home pop back up on my radar. I posted about this Plan 4 Arden Square (http://northwoodpointeirvine.com/Floorplans/Arden/Arden_4.asp)
home back in June 2009 on IHB (http://www.irvinehousingblog.com/forums/viewthread/5518/):

========================================
"I am getting tired of seeing the same listing over and over on the MLS and I almost feel sorry for some of these sellers. I opened my automatic email listing of available Irvine homes and this one popped up yet again in Arden Square. I don?t have MLS access but I am sure the combined days on market must be very long.

Over the last 12+ months they seem to be always priced higher than neighborhood comps. Also their property description is especially cheesy, even for realtor speak. ?More motivated than a Mink at a Supermodel Convention! Extremely and spectacularly upgraded with one of the most fantastic locations in the Award Winning master planned community of Northwood Pointe.?

Somehow these owners probably think their property is ?special? and commands a premium and they are going to ride the market into the ground. Maybe we can help Mike Dunn convince the owner to set a realistic market price.

What do you think it is worth now?

This is a Arden Square Plan 4. I think there is some discrepancy with builder?s sq footage of 2245 and mls listing 2400.

$849,000

Status: Active
Bedroom: 4
Bathroom: 3
Year Built: 2002
Lot Size: 3600
Square Footage: 2400
List Date: 2/7/2009
Garage Spaces: 2"
=========================================

I can't believe they never learn!!! These are some seriously stubborn owners or investors. No change in price but only changed RE agent. I guess they really have no interest in selling the place.
Click to expand...
Well considering that the property has two loan totaling $700k on the property and the 1st mortgage being an option ARM from World Savings, errr Wachovia errr Wells Faro, the only way to get out without putting money into escrow to close on a sale may be to get a price around $850k.  They'll be lucky to get to get even $800k in my opinion. 
 
Well at least they are softening on their price. I got an automated RE email saying the price is now a range from $799K to $829K. If they come down another $20K, they can probably get it sold this time.
 
It says $829,000 for me. That's still way above comps. A similar sized home went for $318 a sqft just a block or two away.
 
Arden square is horrible!!! at least its not one of those homes with a 2 car tandem garage where you drive in one end and drive out the other.  am i thinking about the right neighboorhood?    all those houses with the grass patches on the driveways? 
 
akim997 said:
Arden square is horrible!!! at least its not one of those homes with a 2 car tandem garage where you drive in one end and drive out the other.  am i thinking about the right neighboorhood?    all those houses with the grass patches on the driveways?
Click to expand...

Actually, that's not Arden.  Those are attached homes.  According to the Redfin, the tract is called "Carlyle at Lanes End".
Here's one http://www.redfin.com/CA/Irvine/38-Garden-Gate-Ln-92620/home/4791559
 
what crappy photos.  you'd think for 3% of $800k, the relitter could spring for a decent camera.

and you'd think for $800k, you might get an upgraded kitchen, no?

 
irvinehomeowner said:
That's why it's not wise to bet against Irvine WTF prices.

Someone could have lost $10k on this one... heh.
Click to expand...
Oh believe me, I've seen a lot...nothing surprises me anymore when it comes to Irvine real estate.
 
What is %variance between list price and sold price in Irvine, recently?

Looks like this one listed at $819K (max) and sold at $800K - that's ~2.5%. With this, buyers should have felt satisfied at some level, but in (fundamental  ::)) reality they could have been much more satisfied.
 
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