HOMES REDUCED PRICE

eyephone said:
Mety said:
Take a look at this home that just got sold:https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541

This is a home that was listed at $799k back in June and it reduced the price 5 times and it still got sold way below the last asking price. This detached, almost 1800sq home is sold at $700k! $700K? That's way below than the attached product with whopping HOA fees called, Delano from EW. There are homes with the same/similar floor plans priced above $800k around that PS area. Are those going to survive or going to suffer 100+ days on the market and get nowhere but to reduce the price or are they just going to get delisted?

On the winning notes, the seller still made about 27% appreciation from 2012 so it's not so sad ending I guess.
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$100k difference wow
But better sell now than later (cliff hanger)
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Exactly my point. To me, the seller was not a loser since he/she made $150k in a pocket.
 
Mety said:
eyephone said:
Mety said:
Take a look at this home that just got sold:https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541

This is a home that was listed at $799k back in June and it reduced the price 5 times and it still got sold way below the last asking price. This detached, almost 1800sq home is sold at $700k! $700K? That's way below than the attached product with whopping HOA fees called, Delano from EW. There are homes with the same/similar floor plans priced above $800k around that PS area. Are those going to survive or going to suffer 100+ days on the market and get nowhere but to reduce the price or are they just going to get delisted?

On the winning notes, the seller still made about 27% appreciation from 2012 so it's not so sad ending I guess.
Click to expand...

$100k difference wow
But better sell now than later (cliff hanger)
Click to expand...

Exactly my point. To me, the seller was not a loser since he/she made $150k in a pocket.
Click to expand...

High five
 
Mety said:
Take a look at this home that just got sold:https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541

This is a home that was listed at $799k back in June and it reduced the price 5 times and it still got sold way below the last asking price. This detached, almost 1800sq home is sold at $700k! $700K? That's way below than the attached product with whopping HOA fees called, Delano from EW. There are homes with the same/similar floor plans priced above $800k around that PS area. Are those going to survive or going to suffer 100+ days on the market and get nowhere but to reduce the price or are they just going to get delisted?

On the winning notes, the seller still made about 27% appreciation from 2012 so it's not so sad ending I guess.
Click to expand...

I'd rather have the 100% appreciation in the market during that same time frame.  and that doesn't include property tax, MR, and other costs the past 6+ years.  if this was an investment property, then it was a bad investment. 
 
paydawg said:
Mety said:
Take a look at this home that just got sold:https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541

This is a home that was listed at $799k back in June and it reduced the price 5 times and it still got sold way below the last asking price. This detached, almost 1800sq home is sold at $700k! $700K? That's way below than the attached product with whopping HOA fees called, Delano from EW. There are homes with the same/similar floor plans priced above $800k around that PS area. Are those going to survive or going to suffer 100+ days on the market and get nowhere but to reduce the price or are they just going to get delisted?

On the winning notes, the seller still made about 27% appreciation from 2012 so it's not so sad ending I guess.
Click to expand...

I'd rather have the 100% appreciation in the market during that same time frame.  and that doesn't include property tax, MR, and other costs the past 6+ years.  if this was an investment property, then it was a bad investment.
Click to expand...

What if it was just a home they lived in for 6 years? Selling way below the price you bought would be a far worse scenario which did happen after last crash, don't you think?
 
Mety said:
paydawg said:
Mety said:
Take a look at this home that just got sold:https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541

This is a home that was listed at $799k back in June and it reduced the price 5 times and it still got sold way below the last asking price. This detached, almost 1800sq home is sold at $700k! $700K? That's way below than the attached product with whopping HOA fees called, Delano from EW. There are homes with the same/similar floor plans priced above $800k around that PS area. Are those going to survive or going to suffer 100+ days on the market and get nowhere but to reduce the price or are they just going to get delisted?

On the winning notes, the seller still made about 27% appreciation from 2012 so it's not so sad ending I guess.
Click to expand...

I'd rather have the 100% appreciation in the market during that same time frame.  and that doesn't include property tax, MR, and other costs the past 6+ years.  if this was an investment property, then it was a bad investment.
Click to expand...

What if it was just a home they lived in for 6 years? Selling way below the price you bought would be a far worse scenario which did happen after last crash, don't you think?
Click to expand...

Fully agree.  That's why I said "if this was an investment property".  it's hard to treat a home that you live in as an investment.  Any price appreciation is good in that scenario, although 27% is awfully low in Irvine if you purchased in mid-2012. 
 
Mety said:
gld2 said:
https://www.redfin.com/CA/Irvine/126-Long-Fence-92602/home/58551576

The sale price is same as the purchase price in 2015.  Feel sorry for the owner
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Yeah, pretty interesting how they got to sell with only 2015 price. At least not less than what they bought.
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If this was a new home, then they probably put in at least another 100K into the house on top of the purchase price.  Im sure just the landscaping was probably about 75k or so. 
 
meccos12 said:
Mety said:
gld2 said:
https://www.redfin.com/CA/Irvine/126-Long-Fence-92602/home/58551576

The sale price is same as the purchase price in 2015.  Feel sorry for the owner
Click to expand...

Yeah, pretty interesting how they got to sell with only 2015 price. At least not less than what they bought.
Click to expand...

If this was a new home, then they probably put in at least another 100K into the house on top of the purchase price.  Im sure just the landscaping was probably about 75k or so.
Click to expand...

Even though they redid the driveway, there is no way they could have paid $75K for a 3750 sq foot lot with the house taking up the majority of it.

Then again they shouldn't have paid that much for that house in the first place, so maybe they got taken on the landscaping too.
 
Mety said:
Take a look at this home that just got sold:https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541

This is a home that was listed at $799k back in June and it reduced the price 5 times and it still got sold way below the last asking price. This detached, almost 1800sq home is sold at $700k! $700K? That's way below than the attached product with whopping HOA fees called, Delano from EW. There are homes with the same/similar floor plans priced above $800k around that PS area. Are those going to survive or going to suffer 100+ days on the market and get nowhere but to reduce the price or are they just going to get delisted?

On the winning notes, the seller still made about 27% appreciation from 2012 so it's not so sad ending I guess.
Click to expand...

This is a good value... esp compared to Delano.

But the granite they chose for the kitchen and bathrooms is hideous. At least to me because I had that same kitchen granite for a few years.
 
irvinehomeowner said:
Mety said:
Take a look at this home that just got sold:https://www.redfin.com/CA/Irvine/181-Pathway-92618/home/45377541

This is a home that was listed at $799k back in June and it reduced the price 5 times and it still got sold way below the last asking price. This detached, almost 1800sq home is sold at $700k! $700K? That's way below than the attached product with whopping HOA fees called, Delano from EW. There are homes with the same/similar floor plans priced above $800k around that PS area. Are those going to survive or going to suffer 100+ days on the market and get nowhere but to reduce the price or are they just going to get delisted?

On the winning notes, the seller still made about 27% appreciation from 2012 so it's not so sad ending I guess.
Click to expand...

This is a good value... esp compared to Delano.

But the granite they chose for the kitchen and bathrooms is hideous. At least to me because I had that same kitchen granite for a few years.
Click to expand...

Oh yes, I would have bought this over Delano if I was looking to buy. For those kitchen and bathrooms, I would have upgraded anyways right after closing which could have been covered in $20k. Total = $720k. A detached home with 1800sq built in 21st century buying in 2018? This was a steal.
 
Back's against the Toll Road, that's a no go for me, I wouldn't even go look at the home. Maybe a lot of people stood in the backyard and there was too much traffic noise.  I'm also not a huge fan of the pie shaped lot in the corner, there's no easy parking in front for guests, but I do know others who would want this type of lot since its bigger.  Drop it low enough though and someone will bite despite the location.

Mety said:
Someone please buy this home.
https://www.zillow.com/homes/for_sale/110-Confederation-Way-Irvine,-CA,-92602_rb/

First listed at $980k in Jan. 2017 and now after changing the price more than 5 times, reduced to $820k!!! Still not selling.

I mean it's got the yuge yard and no HOA. Why no bite?
Click to expand...
 
akkord said:
Back's against the Toll Road, that's a no go for me, I wouldn't even go look at the home. Maybe a lot of people stood in the backyard and there was too much traffic noise.  I'm also not a huge fan of the pie shaped lot in the corner, there's no easy parking in front for guests, but I do know others who would want this type of lot since its bigger.  Drop it low enough though and someone will bite despite the location.

Mety said:
Someone please buy this home.
https://www.zillow.com/homes/for_sale/110-Confederation-Way-Irvine,-CA,-92602_rb/

First listed at $980k in Jan. 2017 and now after changing the price more than 5 times, reduced to $820k!!! Still not selling.

I mean it's got the yuge yard and no HOA. Why no bite?
Click to expand...
Click to expand...

Is that Toll Road noisy? I've been to the other side of that Toll from North Park and surprisingly I couldn't hear much traffic noise. That Toll seems to be pretty empty most of the time. But yeah I agree with everything you said. It's just weird that this particular home is not selling for this long. Other similar homes were selling at more expensive prices last year.


 
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