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lnc

Well-known member
Thanks to acf, he found this San Mateo plan 3 with driveway, corner lot for sale at $869,000.
https://www.redfin.com/CA/Irvine/10-Sedgewick-92620/home/51685747

I believe this one is one of San Mateo phase 2 homes and as many of you remember, San Mateo phase 2 was build on the lot previously designate for slightly larger San Marcos homes.  All these San Mateo home in this  phase 2 lots are larger than the lot in San Mateo phase 1 and San Mateo phase 3 (on average, the back yard are 5' deeper)

And this particular home on a corner lot with actually driveway, by any measure other than the building permit, this is a very rare, true SFR San Mateo home. 

I know many of buyer are interested in Jasmine,  Petaluma and home in this price range.  Compare to this brand new Jasmine at $920k(I think buyer back out), the price for this true SFR is very attractive. 

We have a WTF asking price home for sale thread, I thought we can start a thread about good listings.  I have no affiliation with this home, just thought it is a good buy and some of you might be interesting.

This look like a true SFR to me. :)
genMid.OC16047936_0.jpg

 
Is that considered a real SFR or a detached condo? Why does the property type show as a condominium?
Seriously? $869,000 for a condominium? Is $1,000,000 the going rate now to get into a real SFR with 4 bedrooms on a slab in Irvine?

$869,000 Price
3 Beds
2.5 Baths
1,804 Sq. Ft.
$482 / Sq. Ft.

 
Panda said:
Seriously? $869,000 for a condominium? Is $1,000,000 the going rate now to get into a real SFR with 4 bedrooms on a slab in Irvine?
Click to expand...
Uh... where have you been? 1 milly might not even get you a driveway on a real street.
 
nyc to oc said:
AW said:
Does it have to be primary?

How about birth tourism special for Irvine  ;Dhttps://www.redfin.com/CA/Irvine/13621-Espirit-Way-92620/home/4777890
Click to expand...

Are those kinds of modifications even legal in Irvine? (4 separate kitchenettes, one for each bedroom????)
whew, I would hate to be the neighbor to this house. Just the street crowding from the extra cars alone....
Click to expand...
I don't know if any of that stuff is legal, need to get one damn good inspector knowing Irvine codes...
But if it all passes, Irvine motel/bnb in business!
 
Panda said:
Seriously? $869,000 for a condominium? Is $1,000,000 the going rate now to get into a real SFR with 4 bedrooms on a slab in Irvine?
Click to expand...

Yes and I agree it's crazy, but it could be sustainable as long as we have tech, alt energy, or medical industry boom comparable to tech/internet boom here in OC just like it happened in Silicon Valley in my opinion....

I think Spring is coming and all sellers are drinking cool aid again...  Started seeing $500/sq ft among smaller properties in not so hot areas in Irvine/Tustin and old 3 bed resale asking $900k or more...

We thought 2005 ~ 2007 run up was crazy but it happened again in less than a decade and it could/will happen again by the time Trump is out of White house after 1 or 2 terms... ;P
 
Panda said:
Is that considered a real SFR or a detached condo? Why does the property type show as a condominium?
Seriously? $869,000 for a condominium? Is $1,000,000 the going rate now to get into a real SFR with 4 bedrooms on a slab in Irvine?

$869,000 Price
3 Beds
2.5 Baths
1,804 Sq. Ft.
$482 / Sq. Ft.
Click to expand...

You clearly have not paid any attention to Irvine housing prices:
https://www.redfin.com/CA/Irvine/120-Beechmont-92620/home/101648932
 
irvineorbust said:
Panda said:
Seriously? $869,000 for a condominium? Is $1,000,000 the going rate now to get into a real SFR with 4 bedrooms on a slab in Irvine?
Click to expand...

Yes and I agree it's crazy, but it could be sustainable as long as we have tech, alt energy, or medical industry boom comparable to tech/internet boom here in OC just like it happened in Silicon Valley in my opinion....
Click to expand...

Btw - Tech companies are getting bought out left and right.
A percentage of WD almost got sold to the Chinese or is that deal happening. (25%?)
You know how it goes accumulate shares and then do a hostile take over. (Haha)
 
So Panda, you invested in Johns Creek back in 2012.  If you had taken the same money and put it into Irvine, would you have made more or less money?

Cause there has been about a 30% run up in Irvine since mid 2012.
 
zubs said:
So Panda, you invested in Johns Creek back in 2012.  If you had taken the same money and put it into Irvine, would you have made more or less money?

Cause there has been about a 30% run up in Irvine since mid 2012.
Click to expand...

Or maybe a Kuman franchise?
Haha
 
Zubs,
Had I bought a home at the grand opening of the 2010 Woodbury Collection, I think that my performance would have been similar. As you can see from my case shiller data on appreciation performance between LA and Atlanta the numbers are pretty comparable to one another between 2012 - 2015. My home was built on a foreclosed .34 acre lot for $488,068 in June 30th, 2011 and a similar square footage comparable are trading between $760k - $780k in my subdivision today. The property values in my subdivision range from $600k to $3 million.

The golf course community where I reside has about 964 homes and the Asian household % make up of my subdivision has grown from 13% in 2007 to about 35% today. My demographic analysis tells me that close to 40% of my entire subdivision will be made up of Asian households by 2020 driving up property values and making our high school rank #4 in the state and our middle school rank #2 in the state.

Lambert High School - rank #4 in the state.
Source:https://k12.niche.com/rankings/public-high-schools/best-overall/s/georgia/

Riverwatch Middle School - rank #2 in the state.
Source:http://www.schooldigger.com/go/GA/schoolrank.aspx?level=2

wa6d68.jpg
 
Apparently I have not been paying attention to Irvine home prices. So I guess in order to get your property classification to change from a condominium to a single finally residence on a 3 bedroom house, one needs to spend over a million.

Good luck with that!

Irvinecommuter said:
Panda said:
Is that considered a real SFR or a detached condo? Why does the property type show as a condominium?
Seriously? $869,000 for a condominium? Is $1,000,000 the going rate now to get into a real SFR with 4 bedrooms on a slab in Irvine?

$869,000 Price
3 Beds
2.5 Baths
1,804 Sq. Ft.
$482 / Sq. Ft.
Click to expand...

You clearly have not paid any attention to Irvine housing prices:
https://www.redfin.com/CA/Irvine/120-Beechmont-92620/home/101648932
Click to expand...
 
So if you see the same appreciation with Georgia vs Irvine... isn't choosing Irvine a no-brainer? For the weather and proximity to stuff is enough.

:)
 
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