awgee_IHB
New member
It is too bad the Deuce does not work Coto, because these sellers could use his help, (a dose of reality).
23492 Via Alondra
23492 Via Alondra
Bloodbath in Coto de Caza
- Thread starter muffdaddy_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
7 Devonwood
I guess notoriety does not sell homes.
Naw, I love looking at the carnage. I just don't have a whole lot to contribute because the neighborhood rules in Coto aren't real conducive to a guy like me if you know what I mean......
Blah, I love seeing Coto go through another round of a bubble. So... you have me, who will check in on this thread periodically to see how they have not learned from the 90s.
I think the cost per square foot on this home, judging by the materials (FYI: the materials are pretty standard, and would cost more for a schmo contractor, but less if they piggybacked on a national builder's order), would be about $325 a sqft. Making the price a break even point if they are lucky enough to have a deal with their current agent. Since the location sucks, and the numb nuts architect/contractor built the master on the traffic side of the location, then I expect to update this thread with the auction date of this home.
Awgee, I love morons like this. Please, no seriously, keep posting these great finds, morons like this need to be exposed.
BTW, if you ever talk about building a spec home, then market will have changed and I will help you make sure it is a winner even with a huge downside risk. Oh... wait... you actually understand that home prices do go down. It's gonna be a long time before you or I ever think about spec homes. Well... unless we can get some TARP funds to buy the land at the negative land value it is worth and not have to pay the TARP back. That actually might make it worth it, but sorry taxpayers.
We looked at it as a possible lease in Sept of 2006, but they were asking too much for rent. IIRC, they were a bit on the arrogant side, as were so many agents/property owners back then. The agents seem to be so much friendlier now, even to a family driving a mini van.
Maybe the lesson is that doctors should stick with medicine and sons of doctors should start building spec homes with an inexpensive remodel flip. I can not help but wonder if they have seen Steve Thomas' data saying that there is a ten year inventory of over $4mil homes in OC.
Price wise, Via Colinas is in direct competition with 7 Sawgrass. If I was buying, Via Colinas would have to be priced $2mil less than Sawgrass to get me to even think about it.
Not enough stucco and wrought iron for you?
Is that really in Coto or the 909? Seriously, I thought I saw a similar listing in Big Bear. I still think it is 909, because it looks like a meth lab explosion happened inside. Is the Realturd on meth and got the listing mixed up or what?
awgee_IHB
New member
Annualized return of -25% in Coto?
Check it out.
31715 Via Pato
I dunno if it was a foreclosure sale or nut, but the last sale, according to Redfin, was on April 7, 2008 for $947,000 and the present listing price is v9,900.
And the annualized return from 2005 to 2008 was 0.5%.
Check it out.
31715 Via Pato
I dunno if it was a foreclosure sale or nut, but the last sale, according to Redfin, was on April 7, 2008 for $947,000 and the present listing price is v9,900.
And the annualized return from 2005 to 2008 was 0.5%.
awgee_IHB
New member
It seems this property got a new listing agent and a lower price.awgee said:
7 Devonwood
I guess notoriety does not sell homes.
awgee_IHB
New member
awgee_IHB
New member
Now that CalGal moved, it seems I am the only one left to play on this thread. Just talking to myself; not so unusual.
But, at least I am not the only one who does not want to live less than 50 ft from 50 mph Coto de Caza Blvd. This property has been on the market for over a year. I think the first listing price was $5,250,000; now $4,209,000.
It is a spec home, never been lived in. It has had a few different listing agents. The master bedroom is on the CDC Blvd side and you can hear the traffic. Can you imagine paying millions to hear traffic all night?
The lot sold for $925,000 and the builder put up 10,000 sq ft. Whaddya think the cost per sq ft to build was? What must the monthly nut on this sucker be? If I ever talk about building a spec home, would someone be kind enough to shoot me?
via colinas
But, at least I am not the only one who does not want to live less than 50 ft from 50 mph Coto de Caza Blvd. This property has been on the market for over a year. I think the first listing price was $5,250,000; now $4,209,000.
It is a spec home, never been lived in. It has had a few different listing agents. The master bedroom is on the CDC Blvd side and you can hear the traffic. Can you imagine paying millions to hear traffic all night?
The lot sold for $925,000 and the builder put up 10,000 sq ft. Whaddya think the cost per sq ft to build was? What must the monthly nut on this sucker be? If I ever talk about building a spec home, would someone be kind enough to shoot me?
via colinas
no_vaseline_IHB
New member
awgee said:
Naw, I love looking at the carnage. I just don't have a whole lot to contribute because the neighborhood rules in Coto aren't real conducive to a guy like me if you know what I mean......
centralcoastobserver_IHB
New member
The Via Colinas house has a split personality... the front view is unattractive with too many "design elements" and the back looks almost unfinished.
graphrix_IHB
New member
awgee said:
Blah, I love seeing Coto go through another round of a bubble. So... you have me, who will check in on this thread periodically to see how they have not learned from the 90s.
I think the cost per square foot on this home, judging by the materials (FYI: the materials are pretty standard, and would cost more for a schmo contractor, but less if they piggybacked on a national builder's order), would be about $325 a sqft. Making the price a break even point if they are lucky enough to have a deal with their current agent. Since the location sucks, and the numb nuts architect/contractor built the master on the traffic side of the location, then I expect to update this thread with the auction date of this home.
Awgee, I love morons like this. Please, no seriously, keep posting these great finds, morons like this need to be exposed.
BTW, if you ever talk about building a spec home, then market will have changed and I will help you make sure it is a winner even with a huge downside risk. Oh... wait... you actually understand that home prices do go down. It's gonna be a long time before you or I ever think about spec homes. Well... unless we can get some TARP funds to buy the land at the negative land value it is worth and not have to pay the TARP back. That actually might make it worth it, but sorry taxpayers.
awgee_IHB
New member
OK, then. I will keep on keepin' on.
Check this out. 3300 sq ft REO for less than $200 per sq ft.
31841 Via Perdiz
bkshpr - Any ideas for the outside to make it look a bit less hideous?
Check this out. 3300 sq ft REO for less than $200 per sq ft.
31841 Via Perdiz
bkshpr - Any ideas for the outside to make it look a bit less hideous?
Yes keep updating awgee
I don't post much but I do try to keep up with this thread.
BTW I'm pretty sure we looked at 26 Sawgrass way back in April 2007. We weren't interested in buying but would have considered leasing it, except for the crazy high cost of course. I'll have to see if I still have the flyer in my files.
I don't post much but I do try to keep up with this thread.
BTW I'm pretty sure we looked at 26 Sawgrass way back in April 2007. We weren't interested in buying but would have considered leasing it, except for the crazy high cost of course. I'll have to see if I still have the flyer in my files.
awgee_IHB
New member
Axiom said:
We looked at it as a possible lease in Sept of 2006, but they were asking too much for rent. IIRC, they were a bit on the arrogant side, as were so many agents/property owners back then. The agents seem to be so much friendlier now, even to a family driving a mini van.
awgee_IHB
New member
centralcoastobserver said:
Maybe the lesson is that doctors should stick with medicine and sons of doctors should start building spec homes with an inexpensive remodel flip. I can not help but wonder if they have seen Steve Thomas' data saying that there is a ten year inventory of over $4mil homes in OC.
Price wise, Via Colinas is in direct competition with 7 Sawgrass. If I was buying, Via Colinas would have to be priced $2mil less than Sawgrass to get me to even think about it.
OC Zed_IHB
New member
awgee said:
Not enough stucco and wrought iron for you?
graphrix_IHB
New member
awgee said:
Is that really in Coto or the 909? Seriously, I thought I saw a similar listing in Big Bear. I still think it is 909, because it looks like a meth lab explosion happened inside. Is the Realturd on meth and got the listing mixed up or what?
NewToOC_IHB
New member
That is the "charm" of the village of Coto... no two houses alike including this place. Actually I am partial to the idea of the village (no mello roos, lower HOA, close to the Italian restaurant and general store) but I have yet to see a workable floor plan for us there.
awgee_IHB
New member
49% off in Coto?
Check it out.
According to zillow, 6 Willow Bend was purchased on 12-28-06 for 1,285,000.
According to LPS, 6 Willow Bend went to auction on the Santa Ana Courthouse steps on 1-16-09, just a little over three years after the last sale.
Notice of Sale Amt: $1,131,942.21
Opening Bid Amt: $653,976.42
Sold Amt: $653,976.43
Fascinating to me is the Sold Amount of one penny more than the Opening Bid Amount. Is that a typo or an error of some sort, or was the winning bid actually one penny more than the opening bid? And if so, then it was the only bid.
Was it Pacific Legacy? Another flipper? A potential resident?
And most important, how long will it take before the Coto sellers realize that the distressed market is the market and the foreclosure sales are the comps?
Check it out.
According to zillow, 6 Willow Bend was purchased on 12-28-06 for 1,285,000.
According to LPS, 6 Willow Bend went to auction on the Santa Ana Courthouse steps on 1-16-09, just a little over three years after the last sale.
Notice of Sale Amt: $1,131,942.21
Opening Bid Amt: $653,976.42
Sold Amt: $653,976.43
Fascinating to me is the Sold Amount of one penny more than the Opening Bid Amount. Is that a typo or an error of some sort, or was the winning bid actually one penny more than the opening bid? And if so, then it was the only bid.
Was it Pacific Legacy? Another flipper? A potential resident?
And most important, how long will it take before the Coto sellers realize that the distressed market is the market and the foreclosure sales are the comps?