Ellwood by Richmond American at Beacon Park

I think this and other homes going cheaper are signs that markets are slowing. 

These builders are in the business to make as much money as possible.  If they didn't have to sell cheaper, they wouldn't have.


 
xyz123 said:
After almost 5 months 154 mongoose is showing as pending..let's see at what price it will be sold.
Click to expand...

it must be serious because when we drove by earlier just today there was what looks to be the buyer already parking there.

all open house signs etc are gone too.

market is definitely slowing - glad we sold ours to get the capital back on hand.
 
aquabliss said:
This 154 address might be a comp killer when all is said and done:https://www.redfin.com/CA/Irvine/154-Mongoose-92618/home/113380929
Click to expand...

Odd, if you click on this link, it doesn't reveal the fact that this house actually sold Dec 7, 2016 for 1.025M, or 75K less than what they want for it now, 3 months later. 75 K gain in 3 months???? You've got to be kidding me. Looks unoccupied then and now.  I hate real estate specuvestors. Who's going to be the last one caught holding the bag?

You have to type in 154 Mongoose Road, and then Redfin takes you to the previous listing when it sold.

 
This place has been under renovation for the past 3 months. I live down the street, so I drive by it on a regular basis. The renovations are likely the cause for the price increase, and not appreciation.
 
Sakred said:
This place has been under renovation for the past 3 months. I live down the street, so I drive by it on a regular basis. The renovations are likely the cause for the price increase, and not appreciation.
Click to expand...

nyc to oc still has a point, this property since built out still has not been occupied and is being flipped between developer to "investor" to whatever. if only richmond took the first offer from eons ago when the original buyer fell out of escrow... (who was a buyer that was interested in occupying the home)

also they got rid of the shiny white tile floors... to put in another shiny floor? the F... (at least the master is wood now)

what's sad is I can see a final homeowner buying this.. and ripping it all up again.

AFIAK this house had a leak problem too during construction, similar to other ellwood homes mentioned in another thread - its too bad because i though the product was great at the time and well priced. we would have scooped up this lot had it not been taken - and may have ended up moving in in fact.
 
nyc to oc said:
aquabliss said:
This 154 address might be a comp killer when all is said and done:https://www.redfin.com/CA/Irvine/154-Mongoose-92618/home/113380929
Click to expand...

Odd, if you click on this link, it doesn't reveal the fact that this house actually sold Dec 7, 2016 for 1.025M, or 75K less than what they want for it now, 3 months later. 75 K gain in 3 months???? You've got to be kidding me. Looks unoccupied then and now.  I hate real estate specuvestors. Who's going to be the last one caught holding the bag?

You have to type in 154 Mongoose Road, and then Redfin takes you to the previous listing when it sold.
Click to expand...

Pending again
 
aquabliss said:
nyc to oc said:
aquabliss said:
This 154 address might be a comp killer when all is said and done:https://www.redfin.com/CA/Irvine/154-Mongoose-92618/home/113380929
Click to expand...

Odd, if you click on this link, it doesn't reveal the fact that this house actually sold Dec 7, 2016 for 1.025M, or 75K less than what they want for it now, 3 months later. 75 K gain in 3 months???? You've got to be kidding me. Looks unoccupied then and now.  I hate real estate specuvestors. Who's going to be the last one caught holding the bag?

You have to type in 154 Mongoose Road, and then Redfin takes you to the previous listing when it sold.
Click to expand...

Pending again
Click to expand...

Sold for $990Khttps://www.redfin.com/CA/Irvine/154-Mongoose-92618/home/105533442

Someone took a bath on this. If you include renovation, carrying costs and commissions, $100K loss? Maybe more
 
aquabliss said:
Elwood was flying off the shelves when it was a new build but the resales aren't doing nearly as well.
Click to expand...

you think it's the blocky design?  MRs? 
 
jmoney74 said:
aquabliss said:
Elwood was flying off the shelves when it was a new build but the resales aren't doing nearly as well.
Click to expand...

you think it's the blocky design?  MRs? 
Click to expand...

Good question, even the rooftop deck with it's own driveway can't get the $1M resale after weeks/months on the market.  Maybe FCB's are either buying in Eastwood or waiting for Altair...
 
aquabliss said:
jmoney74 said:
aquabliss said:
Elwood was flying off the shelves when it was a new build but the resales aren't doing nearly as well.
Click to expand...

you think it's the blocky design?  MRs? 
Click to expand...

Good question, even the rooftop deck with it's own driveway can't get the $1M resale after weeks/months on the market.  Maybe FCB's are either buying in Eastwood or waiting for Altair...
Click to expand...
Maybe the modern design plus roof deck was unique at the time, hot stuff, then parasol park opened...
 
I don't think it's particular to Ellwood.  If you look at the resales for the other new builds in the $1mm+, they mostly move pretty slow eventhough the new development was a hot ticket item (i.e. Hidden Canyon, Baker Ranch, OH, SG, and CV products).  People sure love that new smell although they don't know how to do interior design at all and make it look like crap afterwards.
 
Goriot said:
I don't think it's particular to Ellwood.  If you look at the resales for the other new builds in the $1mm+, they mostly move pretty slow eventhough the new development was a hot ticket item (i.e. Hidden Canyon, Baker Ranch, OH, SG, and CV products).  People sure love that new smell although they don't know how to do interior design at all and make it look like crap afterwards.
Click to expand...

So you want me to remove these concrete floors or what???
 
rickr said:
aquabliss said:
nyc to oc said:
aquabliss said:
This 154 address might be a comp killer when all is said and done:https://www.redfin.com/CA/Irvine/154-Mongoose-92618/home/113380929
Click to expand...

Odd, if you click on this link, it doesn't reveal the fact that this house actually sold Dec 7, 2016 for 1.025M, or 75K less than what they want for it now, 3 months later. 75 K gain in 3 months???? You've got to be kidding me. Looks unoccupied then and now.  I hate real estate specuvestors. Who's going to be the last one caught holding the bag?

You have to type in 154 Mongoose Road, and then Redfin takes you to the previous listing when it sold.
Click to expand...

Pending again
Click to expand...

Sold for $990Khttps://www.redfin.com/CA/Irvine/154-Mongoose-92618/home/105533442

Someone took a bath on this. If you include renovation, carrying costs and commissions, $100K loss? Maybe more
Click to expand...
 
130 Mongoose sod for 955k. It has no terrace and ok upgrades. So price is up for Ellwood a bit but not going crazy.
 
xyz123 said:
130 Mongoose sod for 955k. It has no terrace and ok upgrades. So price is up for Ellwood a bit but not going crazy.
Click to expand...

Yup, but a good bit for the folks that bought in the first few phases.
 
You must log in or register to reply here.
Back
Top