[IHB] Open House Review: 5 Canyonwood

I think this house is well priced. Probably you are using wrong comps. In one of your article on a property in University park, you use comps from Woodbridge and Turtle rock.
 
I drive past this house multiple times daily, since I live nearby.  It is in a "T" intersection, which will drive Chinese buyers away from the house.  Also the neighbor next door has a couple of yappy little annoying dogs that bark a lot.
 
I think the reviewer (Karen) does not understand home values in the Northwood Pointe area.  She claims this home is overpriced but the average sale price of a 2300 to 2900 square foot home behind the gates in Northwood Pointe is over $950k for all sales during the last 90 days.  The market is moving up and I don't think she is aware of this. 
 
The Motor Court Company said:
looks like an ideal iho home. 3CWG in a nice neighborhood. I think the price is about right as well, especially comparing to new constructions.
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Too expensive for me... the ideal IHO home is 3CWG without having to go into Super Jumbo Conforming (or whatever that limit is called).
 
$729,750 for orange county

irvinehomeowner said:
The Motor Court Company said:
looks like an ideal iho home. 3CWG in a nice neighborhood. I think the price is about right as well, especially comparing to new constructions.
Click to expand...
Too expensive for me... the ideal IHO home is 3CWG without having to go into Super Jumbo Conforming (or whatever that limit is called).
Click to expand...
 
gld2 said:
$729,750 for orange county

irvinehomeowner said:
The Motor Court Company said:
looks like an ideal iho home. 3CWG in a nice neighborhood. I think the price is about right as well, especially comparing to new constructions.
Click to expand...
Too expensive for me... the ideal IHO home is 3CWG without having to go into Super Jumbo Conforming (or whatever that limit is called).
Click to expand...
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That's the FHA limit, not the jumbo conforming loan limit of $625,500.
 
gld2 said:
DARN!!!  if you buy a million $$ house, you have to put down $374,500
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No, you can get a jumbo non-conforming loan at many banks (it's a portfolio loan that is not sold to Fannie Mae/Freddie Mac).  The interest rate is about .50% to .75% higher than a jumbo conforming loan though. 
 
This is good.  is 3-5% down still ok?

USCTrojanCPA said:
gld2 said:
DARN!!!  if you buy a million $$ house, you have to put down $374,500
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No, you can get a jumbo non-conforming loan at many banks (it's a portfolio loan that is not sold to Fannie Mae/Freddie Mac).  The interest rate is about .50% to .75% higher than a jumbo conforming loan though.
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gld2 said:
This is good.  is 3-5% down still ok?

USCTrojanCPA said:
gld2 said:
DARN!!!  if you buy a million $$ house, you have to put down $374,500
Click to expand...
No, you can get a jumbo non-conforming loan at many banks (it's a portfolio loan that is not sold to Fannie Mae/Freddie Mac).  The interest rate is about .50% to .75% higher than a jumbo conforming loan though.
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Nope, you typically need to put down 20-25% for those private portfolio loans since they are not guaranteed by the govt.  If you are an MD, some banks have special MD loans where you can put 5-10% down with no PMI.
 
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