Columbus Grove, another cursed community in Irvine?

House backs Harvard, should definitely sell at a discount.  Better than a house backing Jamboree, which will be incredibly hard to move when those owners sell.
 
This house is overpriced. It backs Harvard and the power lines.  I would be surprised if this didn't sit for a while until they eventually took a lower offer.  And even if it sells at a discount, all of this is relative to when you bought it. If you paid 15% less but saw similar appreciation (as a % of purchase price) vs. the average in Irvine, I might argue that buying in Columbus Grove would be better than any other place because I could buy in Irvine for less with the same general upside in appreciation.

Now I'm not actually stating that is the fact as I haven't tracked long-term trends in the neighborhood but it seems like prices there have appreciated the past couple years. They were hit harder in the bottom but I could make an argument that was more due to the fact that homes were sold at the peak and thus there were more bank-owned, etc relative to other parts of Irvine. 
 
jmoney74 said:
Burn That Belly said:
Columbus Grove is like the clearance section of Irvine.

$436 / sqft !

Always trades at 15% off of the rest of the market
https://www.redfin.com/CA/Irvine/24-Desert-Willow-92606/home/7202328
Click to expand...

great looking house.. just needs an update in the kitchen.

GO EASY ON EM B2B!!!
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The kitchen needs an update(or do you mean 'upgrade'?)??? wow... just curious what does your kitchen look like if you think the kitchen in that house needs an upgrade.  ::)
 
Burn That Belly said:
The home (24 desert willow) was bought for $1.125M in 2006. Asking $1.255M. That's 11% increase in appreciation.

Taking a random sample in WB (99 Sarabande), 3 bed 2.5 bath condo, bought for $629K sold in 2016 and sold for $725K in Dec 2017. That's 15.26% greater appreciation.

You're right, it may be likely this home will close for less than the asking. But aren't SFH's supposed to reign supreme over condos? I guess when you have too many negatives around the home, not even the SFH designation can save you.

Looks like 24 Honey Locust nearby 24 desert willow had a 17% appreciation.
Click to expand...

Looked at a couple more in WB (104 Sarabande) 2 bdrm, 2.5 bath bought for $595K in 2006, sold for $620K - about a 4% appreciation

Another one in the same WB area (75 Winding Way) 3 bdrm, 3 bath bought for $707K in 2006, sold for $740 - about a 5% appreciation

11% doesn't look as bad?
 
I always found it interesting that the non-TIC hoods seemed to be at a lower price, Villages of Columbus, West Irvine...

 
Irvine or Bust said:
Burn That Belly said:
The home (24 desert willow) was bought for $1.125M in 2006. Asking $1.255M. That's 11% increase in appreciation.

Taking a random sample in WB (99 Sarabande), 3 bed 2.5 bath condo, bought for $629K sold in 2016 and sold for $725K in Dec 2017. That's 15.26% greater appreciation.

You're right, it may be likely this home will close for less than the asking. But aren't SFH's supposed to reign supreme over condos? I guess when you have too many negatives around the home, not even the SFH designation can save you.

Looks like 24 Honey Locust nearby 24 desert willow had a 17% appreciation.
Click to expand...

Looked at a couple more in WB (104 Sarabande) 2 bdrm, 2.5 bath bought for $595K in 2006, sold for $620K - about a 4% appreciation

Another one in the same WB area (75 Winding Way) 3 bdrm, 3 bath bought for $707K in 2006, sold for $740 - about a 5% appreciation

11% doesn't look as bad?
Click to expand...


24 Desert is a 5000 sq ft SFH with descent front and back yard, long drive way, and Woodbridge high zoned.  Two you mentioned above are way smaller attached condos with no driveways and no outdoor space, also zoned in Irvine High.  The power line is not right behind the house either.  it's good a half block away.

I can't afford this house but it seems very good house for a family needs space and central location in Irvine.  15% over 2 years is little high but not outrageous...
 
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